In the spirit of saving money, I tried something new – consignment sales. I have read countless personal finance articles that encourage consigning as a great way to bring in some income. I have always been a bit skeptical about this, wondering if anyone would really want to spend money on items I no longer find value in. I also was skeptical as to how much money I could actually make, and would this be worth my effort.
After getting positive reviews from others who’ve tried consigning before, I decided to give it a shot. I selected a week-long sale that focuses on women’s clothing. What I liked about this “flash sale” approach was that I would know quickly if my items sold. I also liked that I was able to set my own prices and was promised a 60% return on all my sales. I had personally heard stories of some participants earning as much as $500 through this particular sale.
I will admit, participating took more work than I expected. I spent about 12 hours pressing and prepping items. I did get a little obsessive about it, racking through every storage bin and dresser drawer. I didn’t want to miss an opportunity to make a buck! Over the course of the week, I turned my entire living room into a giant closet. For two days, I actually cleared out a closet and slept next to all of my winter coats, so that I could keep freshly pressed items hung. I skipped workouts, and left family events early to pull all this off. I truly felt like a had consigned my life away.
In the end, my work paid off. I sold two-thirds of the items I entered, and I made about $175. Was that amount worth destroying my apartment and social life for a week? Maybe not. But, all this work to clean out my closet helped me really realize where I could tighten up in my budget – a financial lesson well learned.
Kate N, MS, CEAP, joined Empathia in 2005 as an EAP Counselor, then became a Performance Specialist in 2012. Kate has a master’s degree in Educational Psychology. Kate is devoted to helping individuals determine how to make lasting changes. Prior to joining Empathia, she worked in the social work field as a case manager for Child Protective Services. Kate enjoys baking, yoga and escaping into the woods of Northern Wisconsin.