The Accession Finance $10K Challenge – Week 5

Our goal is to save an extra $10K on our budget – but every few weeks I want to add something that you can do to bring more money into the house.

This week I’m talking Facebook Buy Swap Sell Pages.

Facebook groups can be hit and miss. Depending on the rules of the group, and the job that the administrators do will depend on the experience you have in a Buy Swap Sell page on Facebook. (Please note: administrators are unpaid and put A LOT of hours into regulating groups, please remember this if you have a need to contact them)

How they work:

Buy Swap Sell groups are groups of (mostly) local people in a community that follow a page to participate in buying, swapping and selling.

Cost to set up: $0

Comissions Paid: $0

Postage: $0 (local pick up)

You request to join and your request should be accepted – this can take some time depending on the number of admins that look after that particular task. It is best to find a group that is local to you so the buyer can arrange a time with you to pick up the item from your home.

What to do:

Step 1: READ THE RULES! This is usually found on the pinned post of the page. Each group will have different rules. Pay particular attention to zoning: you may still sell if your home is outside a group but you may have to offer delivery.

Step 2: Sell, Sell, Sell

You can sell the things that you no longer want. These are the things that clutter our homes and increase frustration. If you have something and it no longer has a place in your life – then it’s time to sell.

Need some inspiration:

– baby clothes (It’s a good idea to bundle these – no one wants to wait around for someone to pick up a $2 T-Shirt)

– baby furniture – if you’re sure you’re done!

– old clothes

– old toys

-unopened or unwanted gifts (just make sure that no one that gifted you the present is on the page or things can get AWKWARD!)

– books and DVDs

– any furniture

– themed and novelty items

Understand the Terms:

BSS: Buy Swap Sell

The first person to say ‘SOLD’ is entitled to claim the item

NIL: next in line (if person who says SOLD changes their mind)

F: following the post (maybe to find out more information)

WTS: Want to Sell

WTB: Want to Buy

BUMP: Bring up my post (to make it appear on the top of the group wall again- this should also be covered in the group rules)

NOTE: If you pay $50 for a chair and you sell it for $20 – this will not help your budget! Hold on to your reciepts so you can return unused or unwanted items.

Over the past year I have sold over $600 on Buy Swap Sell pages. Although I live slightly outside the area, I am the biggest fan of the Inner West (Melbourne) Buy, Swap, Sell page (more fondly referred to as IWBSS) which has an enormous following. I offer delivery and most of my items sold within a few days each time – but usually within minutes. And it is also a community page which welcomes discussion about local issues which is (usually!) lovely.

Week 1 – Insurance $190 saved

Week 2 – Gifts/Fun Memberships $388 saved

Week 3 – The $10 Sacrifice $520 saved

Week 4 – Time for the Snip $ 0 saved

Week 5 – BSS $600 saved

Total: $1698 saved

So far in 5 weeks we have made changes that will have saved us $1698 by the end of the year. More money in, less money out: that’s what we’re working towards!

See you next week,

Nat x

General Advice Disclaimer:

This represents general information only. Before making any financial or investment decisions, we recommend you consult a financial planner to take into account your personal investment objectives, financial situation and individual needs. This information is based on our personal circumstance and it will be different for everyone. Information provided on this website is general in nature and does not constitute financial advice.