January Survival Guide: Finding the Hidden Cash in your Home

While most people associate treasure hunting with pirates, we know better. There is treasure all around us; we just need to know where to look.

Money has a way of growing legs and walking off sometimes, and according to Fin24, a recent social experiment highlighted that many South African households have more money than they realise tied up in unwanted goods in their homes.

If you have furniture or any other kind of goods in your household that you do not use, then you could dispose of those unwanted goods and stretch your wallet for the New Year. According to the experiment, different households have identified unloved and unused items valued at thousands of Rands.

Owners were surprised by the combined value of the household items, and given the current economic climate, this came as welcomed news.

Consumers took their unused goods to OLX and got from R4 000 – R15 000 with their combined items of unwanted household goods.

According to OLX’s Karla Levick, head of marketing for classifieds platform, recent reports from financial and academic institutions shows that consumers are more cash strapped than previous generations and less able to fund their families aspirations.

South African consumers need to become more creative with how they make their salaries stretch.

“Buying less is the obvious solution, but selling your unwanted items or buying second hand is probably the easiest way to save money,” said Levick.

According to CEO of the SA Savings Institute, Gerald Mwandiambira, in the age of consumerism where people spend more than their means and live on credit to buy goods and services they do not need, clutter (in the form of unused items) is the result. What most people don’t realise is that selling items they have standing around could help them get out of debt, save or pay for something they really need.

He further adds that part of the debt restorative process is also to de-clutter your life and focus on a financial plan. As part of the budgeting process, selling unused goods often allows one to pay off debt. Most people have old cellphones, gadgets and appliances that can be used to free space and release cash. People tend to end up asses rich and cash poor when they hang onto unwanted goods.

So if you have things sitting in your house that you are not using, SELL IT!

Have you found any treasures around your home?