Author: Dawn

Confessions of a Shopaholic’s Friend: Selling Consignment for Others Online

Sourcing inventory can be a fun but challenging process. What if there aren’t many cheap thrift stores near you? What if garage sales are low-end and/or sporadic? What if you just don’t have enough money on hand to invest in inventory to resell?

For these people, consignment is a great option that I’ve used with a lot of success.

What is consignment?

Consignment is specifically an agreement to pay a supplier of goods after the goods are sold.

It’s typically done in a store setting, where someone goes into a store and strikes a deal with the shop-keep, however, a person will give you their items to sell online too.

In principle, the owner of the item and the seller of that item will agree on final price. Once the item sells, the seller will pay the (now) former owner, and in turn the seller will get a previously agreed upon percentage of the sale.

How does the item owner get paid?

There are two main ways for item owners to get paid, and there are pros and cons to each method.

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Raindrops on Roses and Whiskers on Kittens: 5 of My Favorite Things (Found While Thrifting)

best items found flipping thrift stores

The day will come ( if it hasn’t already) when you’ll be minding your own business, scouring through the racks of misfit clothing when suddenly you will stumble upon the HOLY GRAIL.

The HOLY GRAIL is an item that makes your heart completely stop. An item that makes you question if it’s real or too good to be true! It’s an item that makes you question our nation’s priorities — how could something so expensive just be discarded? HOLY GRAILs don’t happen all the time, but when they do, be prepared to break into song.

Here are 5 of my favorite things I’ve found while out on the prowl.

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Flippin’ Ain’t Easy: Half-Off Madness at Savers

As a full-time social worker who lives in Hawaii and wants to do all of the fun things that come with living on an island in the Pacific, it can be hard constantly motivating myself to shop, list, package, and repeat.

For me, it was about deciding what I want and what’s important to me. I had to find my motivation. And trust me, few things will test your will to succeed more than 50% off days at Savers.

I want to share with you my recent trip to half-priced hell.

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Never Leave the House Without Your Armor…I Mean Accessories

Would you leave the house without your purse or sunglasses? I know that I wouldn’t! So why would you overlook them at the thrift store? There are plenty of people out there looking for designer goods on the cheap — do you know how to sell designer handbags online?

I see bold accessories as a woman’s armour.
– Rachel Zoe, Fashion Designer

The thrift store has a wealth of high quality items with big resale potential. Here are 12 of the name brands you should look for, both the obvious and the not-so-obvious.

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How I Saved $50,000 in 5 Months

When I started this journey to financial freedom through clothing resale, I wanted to make it stick. I utilized the Dave Ramsey Snowball plan.

According to Dave Ramsey, Financial Expert, when starting to get out of debt, you should pay off the smallest debt first in order to build momentum.

The math seems to lean more toward paying the highest interest debts first, but what we have learned is that personal finance is 20% head knowledge and 80% behavior. – Dave Ramsey

I started with two small loans. Both were under 7% interest but both had remaining balances of under $3,000. By February 2015 the first one was paid off, and that March the second one was destroyed.

It felt pretty freaking amazing. Momentum had been built. I could actually do this! I felt like the cowardly lion from the Wizard of Oz, after he FINALLY found his courage.

Watching those numbers drop did exactly what Dave Ramsey said that it would do — it made me feel like I was winning.

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Sourcing Beyond the Thrift Store: Meet TJ, Ross & Gift Card Granny

Sometimes the thrift stores just don’t cut it. From what my sources tell me, depending on where you live, they may be pretty expensive as well.

Don’t want to pay $15 for that unbranded t-shirt with a hole in the armpit? I don’t blame you, I wouldn’t either.

So what do you do? Do you give up? Hell no! You have other options and other sources of inexpensive inventory (and they’re usually located right in your local strip mall).

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Milk Is for Cookies & Hairspray Is for Curls…WRONG: Stain Removal Part 1, Ink

Stains.

My worst nightmare. That euphoric feeling of finding Michael Kors Jet Set Kempton Monogram Tote on a 50% off day has turned into a lot of loud curse words when you realize that you never actually looked inside the bag. When you do, this is what you discover:

The previous owner did not give as much TLC to the inside of the tote as they did to the outside, and that becomes very obvious when you see the ball point ink stains on the inside. I bet you’re now wondering how to get ink out of fabric.

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“Hey, Macklemore! Can we go thrift shopping?”: Where to Start

Motivation has taken over! Dreams of swimming in that large pile of money that you have made are flooding your mind. Admit it, you are already driving that 2016 Tesla Model S on the way to your brand new lake house.

Pump the breaks.

Remember, start out small. Let’s make the first trip to the Goodwill before we start getting together the down payment for your new vacation spot.

You walk through the doors of the thrift shop feeling like Macklemore — “I’m gonna pop some tags” — and you stop. Beaming florescent lights overhead, shelves crowded with trinkets and knick knacks, piles of dusty books, rows and rows and ROWS of clothing. The clock has stuck midnight and your beautiful Tesla has turned back into a pumpkin.

Typically, going into a thrift store is not an anxiety provoking task. That all may change though when your purpose for being there changes.

1. Get to Know the Policies of Each Thrift Store

Each thrift store is a little bit different. For example, while the Goodwill’s corporate policies apply at all Goodwill’s each Goodwill might be slightly different. Here are some things you should get to know about your local thrift store.

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Gucci or Granny: Wants, Needs & Finding Motivation

If I haven’t made it abundantly clear yet, I’m in a lot of student loan debt. While I still have a 5-figure balance, it used to be a 6-figure balance. I still have a lot of work to do, but I’ve come a long way.

How did I do it? I did what Ben Stein said: I realized what was important to me and what I wanted out of life.

The first step to getting things you want out of life is this: decide what you want. – Ben Stein

Now it’s your turn.

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“…They Hurt My Feet”

I’m assuming that some of you stumbled onto my page because you’re in debt…a lot of debt.

Welcome!

I’m also going to make a prediction that a few of you have spent countless hours awake at night by the light of your cell phone under your covers (so as not to wake your significant other) googling things like “how to pay off [insert ridiculous amount of money here] as fast as possible.” Some of you may find yourself in that exact scenario now as you read this sentence.

My goal is to help curb those feelings of impending doom brought on by the one thing that makes the world go ’round: Money.

Photo: commondreams.org

Photo: commondreams.org

Until August 2015, I was that person pulling pointless all-nighters looking for a solution to destroy the $130,000 worth of student loan debt that I’d accumulated after 6 years of higher education. One time, I actually created a plan that would actually allow me to work for 24 hours straight (I mean hey, I wasn’t sleeping anyway!).

Well one night at the end of June, I finally stumbled upon the solution (at around 3 am) that has allowed me to pay off $34,697 in 5 months!

It was so simple I almost started kicking myself for not thinking of it sooner…

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