Selling excess stuff could lead to a way to pay off debt

By Peggy Stillwell on Mar 10th, 2010

Trying to pay off debt is probably on the minds of many Americans, and spring may offer an opportunity to do so.

A recent report from SmartMoney.com noted that consumers may be able to use spring cleaning as a way to get rid of excess stuff while making money. Gail Cunningham, who is with the National Foundation for Credit Counseling, told the website that most U.S. consumers own too much.

"If you haven't used it or worn it in a year, sell it," Cunningham told the site.

Though some consumers may consider having a garage or yard sale, the report noted that doing so may not get a person the most for their extra stuff. Rather, they may try to get rid of their items individually, either through online auctions or local resale shops.

The website also noted that some states offer rebate programs for consumers who are looking to buy new appliances, provided that they can prove they had the old item recycled.

The rebate programs come care of the American Recovery and Reinvestment Act, which was passed to try and revitalize the nation's sagging economy. Almost $200 billion of contracts, grants and loans have been awarded through the program.

More Money Management News

10-07-2010

Consumers cut back on some spending in 2009

10-06-2010

Consumers may spend more this holiday season

10-05-2010

Taxes an important part of personal finance budgeting

09-10-2010

Location may play a role in consumer credit card debt

08-05-2010

Tokenization may save travelers credit card debt, credit score damage

08-04-2010

Incomes, spending remain flat in June while amount saved increases

07-16-2010

Credit card debt, financial reforms pass Congressional test

07-08-2010

Illinois announces sales tax holiday for back-to-school items

07-03-2010

Fed overdraft rules now in play

07-02-2010

Extension to unemployment benefits delayed

Related Resources