Are you a Gen Z adult and struggling to save money? then you aren't alone.
A Bank of America survey published in October 2023 revealed that a whopping 85% of the Gen Z population takes the habit of savings with a pinch of salt, and merely 1 in 5 of the Gen Z crowd contributes to a retirement account.
Social media has sparked a wave of trends that are revolutionizing the way we think about saving money, encouraging Gen Z to start building wealth early on. Looking back at the "underconsumption core" trend that started gaining traction in August was built on the idea of practicing minimalism and sustainability to avoid living paycheck to paycheck, prepare for emergencies, plan for big-ticket purchases, and, ultimately, establish a financial safety net.
A recent study by Deputy outlined that Gen Z hourly workers in the US earn the lowest average hourly wage at $15.66 in 2024. In comparison, millennials earn $19.07, Gen Xers earn $19.79, and baby boomers earn $18.57 per hour.
Judging by this, Gen Z seems to be constantly strapped for cash which means saving money must also be hard. But we have a solution under our sleeve, selling valuables to buck up the savings account. Here are some ideas on what you could sell:
Unused gift cards: One can exchange unwanted gift cards at Coinstar or Cardpool partner sites for cash or other gifts. You may also sell unneeded gift cards on websites like eBay, Craigslist, or Facebook Marketplace, but be wary of fraud and make sure the transaction is secure.
Vintage items: A yard sale, garage sale, or local online selling groups or apps like Letgo, Decluttr, or Mercari are more options to think about. Additionally, you can offer vintage or unusual goods to a specific audience by using niche marketplaces like Chairish, 1stdibs and Ruby Lane.
Books or textbooks: Textbooks and other rare or used books are available for sale online or at secondhand bookshops. You can list your books on book-buying websites such as Amazon, Abebooks. You may also rapidly scan and sell your used books with applications like Bookscouter, Decluttr, or Cash4Books.
Jewelry: Broken or unwanted jewelry, such as precious stones, silver, or gold. You can use a service like Cash4Gold or Diamond Bistro, or you can sell these goods to jewelry stores, pawn shops, or online buyers. Additionally, you can sell your broken or unwanted jewelry to a specific audience by using websites like eBay, Etsy, or niche online markets like The RealReal or Circa.
Vinyl records or CDs: CDs or records of rare or collectible music. You can sell these things to nearby record shops that focus in old music or online through marketplaces like Discogs, MusicStack, or eBay. Furthermore, you can rapidly scan and sell your worn CDs with apps like Decluttr or NextWorth. Connecting with music aficionados and collectors seeking rare or difficult-to-find records or CDs can also be facilitated via online marketplaces such as Facebook Marketplace, Letgo, or Mercari.
Designer apparel or accessories: New or gently used designer clothing, shoes, or purses. These premium goods can be sold online through online marketplaces like eBay or Depop, or consignment sites like The RealReal, ThredUp, or Poshmark. Additionally, think about selling your goods to nearby designer consignment stores or holding an upscale garage sale.
Collectibles: Sports memorabilia, rare coins, stamps, or limited-edition goods. These distinctive artifacts might be offered for sale to niche markets, internet marketplaces such as eBay, or enthusiast groups. To reach more collectors, you might also think about consigning them to auction houses or using websites like Professional Sports Authenticator or Heritage Auctions.
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