& 
Guests
Lorraine
EricaCongratulations to Anne B – the winner of Sarah’s book Money Smart Mom
Keeping your kids in pants that don’t look like they’re preparing for a flood, or shirts that are aren’t unintentional belly shirts is tough – they outgrow their clothes quickly, long before they wear them out. It’s time to take advantage and turn your children’s outgrown clothes and unwanted toys into cash. You could hold a garage sale of course, but children’s clothing and equipment often doesn’t sell well at this type of sale. You’ll get just small change for those fantastic Gap jeans in perfect condition, or your baby swing might not sell because garage sale shoppers are only offering you $5.
A better option is to take your children’s outgrown items to a used goods store.
There are two types of stores that specialize in selling gently used children’s clothing and equipment. The first is a resale shop, which buys items from you for cash on the spot. If you need cash fast, this is your best bet. Call the store you’re considering visiting to ensure they take the type of items you have to sell, and ask how their process works. Do you wait while they look through your items, or do they hold them for a few days and call you with your offer? Choose one that’s most convenient to your lifestyle.
The second type of store is a consignment shop. They’ll display your items for a certain amount of time, giving you a percentage of the selling price. If you are willing to wait for your cash, you’ll usually make more with a consignment store. That’s because resale stores take on more risk, so their offer is generally much lower than you can earn through consignment. Choose a consignment store that pays cash as your items sell, not one that restricts you to cashing out after a set amount of days or one that only pays in store credit.
To guarantee a better offer for your items, or a higher selling price, educate yourself about what the store is looking for. Do they take summer clothing in December? Do you have to bring your items in on certain days? All stores will require your items be presented as nicely as possible; that means washing them, packing them neatly in boxes or hanging them on hangars, scrubbing any toys and replacing batteries, and weeding out any items with missing buttons, stains, etc. Some stores will only take brand names; others require clothing to be less than four or two years old.
Whether you choose to sell or consign, emptying your closets is a great way to fill up your wallet!
Sarah Deveau is a mom of three, and the author of Money $mart Mom: Financially Fit Parenting.
Sarah is giving our readers a chance to win a copy of her book Money $mart Mom.
To enter simply leave a comment to this post.
For a bonus become a fan (or ‘like’) The Survival Guide for Rookie Moms on facebook. Be sure to tell us in a separate comment that you are a fan.
- Contest is open to Canadian residents only
- Winner will be drawn at random
- Contest closes September 17th 2010
Money $mart Mom: Financially Fit Parenting is an invaluable resource for families of all types. You might still be on the fence, wondering how you’ll ever be able to afford children. You might have kids already and don’t understand why you’re still living paycheque to paycheque like you did in college. Whether you have kids yet or are still in the planning stages, are in debt up to your eyeballs or just barely keeping up, this book can help. Money Smart Mom makes a great gift for expecting parents and young families. Available online at www.moneysmartmom.ca and Chapters Indigo Books
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Read Our Archived Guest Blog Posts
Jaime Lewis with I’m Not That Mom
Bailey Megibow with My Mommy Group = My Sanity
Heather Sobieralski with Intact
Wendy Irene with From the Time You Have Children
Dr Kim Newell with Drool Factory: Is My Baby Teething?
I’m all about saving money or getting a return on my money. With two teenagers, my wallet feels the burn. I could totally use some guidance and this book sounds great!
*I forgot, please don’t enter me. I’m USA, but I’m adding this book to my wishlist :0
We have a great store called Toy Traders & it has really encouraged the children to be wiser with their money. My son has been more willing than me to trade in his toys for toy trader dollars & purchase toys. He even realized that if he chose previously-loved toys, then his dollars would go farther.
Also actual kids swaps can be better for unloading large quantities of clothing. Throw clothes in different priced bins & you will be amazed at how quickly they go.
Craigslist has been also a great resource for selling clothes, especially new ones with tags still on.
good advice- thanks for the tips.
As the mother of two kids, I would love to read this book! Sounds very interesting.
I also “like” this page on Facebook.
Thanks!
Sounds like a fab book!!
I could use this book
I offloaded a lot of baby gear on Craigslist, but clothes aren’t something that sell well on Craigslist.
Community centre swap meets work well for cclothes.
I’ve just given a whole black sack of kids’ clothes to the thrift store. I’m in need of some advice on how to be a Money Smart Mom
I use consignment stores all the time for buying and selling. Great bargains.
We’re a family of seven and don’t have any one who hands down clothes to us so I’ve found a few consignment stores that I just love. All of them only take brand names.
I’m not that good at returning them though. I either save them for the next child or hand them down to other moms.
I’m curious to know how much I would get for a bin of clothes… maybe I will ask next time.
Clearly… not as Money Smart a mom as I could be.
with 3 boys at home, any money saving advice I will gladly take
Always looking for ways to save $$$’s. Kids are SO EXPENSIVE
I can’t imagine paying retail prices for a child’s entire wardrobe! I buy clothing for my nieces and nephews quite often, but it’s nearly always from a thrift store or, at least, from a clearance rack.
I’m a fan of “The Survival Guide for Rookie Moms” on Facebook.