How to Retire Rich with Garage Sales!

According to the Bureau of Labor Statistics, households spend $670 on clothing for every member of the family. That’s nearly three thousand dollars a year for a family of four! 

To put that in perspective, if you cut that amount in half and put the savings into retirement savings earning 7% a year, you would have more than $120,000 at the end of 30 years.

Cutting your clothing budget with garage sales could be one of the best financial decisions you make.

Finding Big Money Savings from Little Garage Sales

Have with you a list of clothing sizes for the people you are buying for and stick to the list. Otherwise, you will go home with items you will either donate to Goodwill or put in your own garage sale.  

While garage sales are a great way to save money on things you need, I’ve found their usually kind of a waste for the people selling their stuff. Who wants to sit around the yard all day to make twenty bucks? 

Used clothing stores like the Salvation Army, Red Cross and DAV are a gold-mine. You are not driving around and putting unnecessary miles on your car, but plan on spending more time than at smaller garage sales. 

How to Save even More Money at Garage Sales

At sales, always ask if they will take less than the marked item. People expect a little haggling and mark prices up higher than what they’ll take. Don't just say, “Will you take less than this price.” Be specific. 

As an example say, “I have $14.00 worth of items here, will you take $10.00?” They will then either say yes or shoot you back a different amount but you’ll almost always save more money. 

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