How to Raise Money by Selling Clutter from Your House Online

Decluttering the house is an easy solution to your money problems. You get to raise money while taking out the waste possessions from your house. Your unused wardrobe, loft items, books, and electronic gadgets are all-cash lying in some corner.

Moreover, now it is easier to sell your used items than ever with the online platforms and pawn shops. The amount received combine with loans at home should be enough to solve the financial instability. If you find the process intimidating, here are the 10 tips for selling your clutter online.

Find the Right Platform for Each Stuff

Sell Online
Sell Online

Some online platforms are dedicated to a specific product category. You can use them to get a suitable audience for the stuff you are selling. It is the audience that can put the right price for the product.

While sites like eBay don’t specialise in a single category and enjoy an enormous user base. You have a better chance to find a buyer, but the price might not be what you desired. You also get the option to sell a product in different regions other than the UK.

Online auctions are also useful if you are not sure about the price of the item. Based on its popularity, you may get way more than you might have imagined.

Look for the Fees

Facebook Marketplace
Facebook Marketplace

Bigger platforms such as eBay and Amazon ask for fees when you list your product on their website. This increases the price of the product and sometimes makes it unreasonable. Use these platforms to sell items of high value.

For smaller items, you can use the free listing services. The Facebook marketplace doesn’t ask you for money and even target the right audience with its algorithm. All it matters is that you make some money at the end of the transaction.

Use Professional Usernames

You need a username to be able to sell products online on any website. Use it seriously with something that sounds professional. A person will rarely purchase from someone with a shady name.

With a little help of SEO, your username can increase the visibility and search ranking. Also, make sure it is easy to remember if you are thinking of selling more than 5-10 items.

Write Detailed Descriptions and Title

Description
Description

Your title and description are arguably the most important section on the product page. It not only convinces the user to make the purchase but also affects the ranking on the search results. Use the internet to learn how to write titles for different websites based on their search algorithm.

The general thumb of rule for the title is –

  • It should contain the product name and some relevant details.
  • You can stuff keywords in it.
  • It should make sense after adding keyword and information.

For the description, you should –

  • Use clear and concise language.
  • Add bullets for a glance.
  • Emphasise on product benefits.

Post Quality Images

Quality Images
Quality Images

Importance of images increases when the products are labelled use. These images help buyers take a good look at the product before they make a purchase. You need them to show buyers the condition is same as mentioned in the description.

Therefore, images act as the reason why buyers trust the words you have put on the product page. You must post quality photographs to ensure it catches attention. Take some shots in good-lighting with a simple background.

Ask Reasonable Price

Reasonable Price
Reasonable Price

Generally, people buy used products to save money. You cannot put an unreasonable price tag and expect buyers to purchase it no matter what. Make sure the price of items is good enough to attract buyers.

You can take help from the competitors. Review their pricing and use it to set a final value. Even a slight price difference can change the buyer’s decision in your favour.

Add Delivery Charges to the Cost

Free Shipping and Handling
Free Shipping and Handling

There are packing, shipping, and delivery charges associated with each product you sell online. Either you have to do these tasks by yourself or let the shopping site manage it for you. Either way, you must add the cost or mention it separately with the final price. Try to offer Free shipping and handling.

These charges, if not asked from the buyers, will reduce your profit. You might end up losing hundreds of pounds for overseas shipments.

Time the Product

Timing
Timing

The timing of the product affects the price and demand for it. Your Halloween costumes will attract only a few buyers in Easter season. Therefore, try to time the products based on season, events, and holidays.

In the end, you should put some extra efforts to increase visibility and get good reviews as a seller. Use social media to share the listing. Provide customer service to the buyers. After all these, you might raise a significant amount while cleaning the house.

Facebook – Never underestimate the power of social media when you want to sell things. You will find all kinds of buy and sell pages for your area, where you can post your items for sale. In many cases, you will end up selling to people you already know, so you won’t have to worry about meeting up with a stranger. Another advantage of using Facebook to sell stuff is that it is free.

https://collegepuzzle.stanford.edu/best-places-to-sell-your-used-campus-goods-over-the-summer/

Description – This article contains some tips to raise money by selling unused items or clutter online.

What is the Substitution of an Ignored Loan Application?

To understand why loans are preferred to people in challenging situations, we need to get the idea behind its existence. Loans are the substantial support to the individual or the company to reduce the discrepancies related to his monetary expenses.

When we see the loan as a monetary help, it directly means that it is for the people who required money to deal with a particular situation in which only money c an be helpful. But in other ways, it can help people with different modes. It has specific distinctive modes through which it helps.

Loans can be defined as the help to the borrower by lending a particular amount of money. The borrower can be an individual, organisation, or any other entity. The loan is for everyone since it has a purpose to provide meaningful support to reform financially transact.

Ignored Loan Application

To reduce its complexity, it has been categorised in two forms: one is secured, and the other is unsecured to promote everyone’s financial support.

Home loans, car loans, and loans against bonds are covered under secured loans, whereas personal loans, business loans, and credit card loans are covered under unsecured loans. It is like a debt. The borrower has to pay according to the pre-decided agreement within a period.

Through this blog, I attempt to mark my words on getting your loan application denied and get it solute with the direct lenders’ mode of loans.

Reasons of loan applications denied

You face many reasons for applying for a new loan, either regarding the lenders’ previous sanctions or having low chances of getting it repaid.  

If the lenders have denied your loan applications, he must have provided you the reasons for its denial.

  • Credit history in your early loan agreements, if you were found unable to repay your loans within the decided period, or made multiple delays in making the payments, become bankrupt. Lenders probably got the chance to disapprove of your loan application.
  • Income- if your income is capable enough to repay the loans on time, then there would be no hassle created by lenders, and if you earn little and cannot redeem the loan amount after making a lot of effort, you shall be deprived of loan facilities.

The lenders can foresight the chances of your eligibility to repay the loans with your salary.

  • Purpose- before approving loans, the lenders tend to seek the intention and propose of taking loans and if they find them genuine they can approve your loan application accordingly.

They are more likely to approve those applications covering debt consolidation, education, home improvement and business retributions rather than vacations and decorations.

  • Information- while convincing the lenders to approve your loan applications, you need to present your genuine information and reasons for applying for loans as lenders conduct a verification process to find your authentication by cross-checking the details you mentioned in your application.

You should be careful while filling the details in the application form, and if you have misinformed or missed your correct details to fill in, the lender can avoid approving your loans.

  • Employment- lenders are ultra-careful about the borrower’s job and work. They check whether you are employed in a stable job or not. Your regular source of income cannot deprive you of loan approvals.
  • Burden of debts- if you have already applied for a loan or any other mortgages, your lender might reject your approval for loans and even more firmed at you if you are in debt of credit cards.

Ways to increase your chances of getting your loan application approved:

  • You need to check the credit requirement to get the approval of the loan from the lenders. Each type of loan has its quality, and you must see at your qualifications to getting it approves.
  • Get adhered to the improvements you can make while having full time and stable employment.
  • Having sufficient collateral can lower the risk of lenders and can approve your loans.
  • Perplexed must be diminished by assuring the right purpose for loan approval.

Financial support

You got familiar with the facts of how banks decline the loan facility to the individuals. But here is another way to approve loans at your doorsteps by the direct lenders since they are flexible and provide loan approvals.

Inference

Most of the time, people pursue loans from inwards or outwards sources in dire need of obtaining funds. These funds are generated for emergencies, for a home, new car, and other repairs to the home or offices.

The reasons can be different from person to person but a matter of disappointment when loans get turned down and thanks to the direct lenders who claim their help even in our bad credit scores and suits the borrowers with flexibilities.

Description Loan approval is not difficult until you provide the genuine purpose before the lender.

How to Boost Income During a Financial Crisis?

A financial crisis occurs when your debts, expenses, and bills exceed your household income. On the other hand, organizations might also face cash issues when they fail to make repayments to their lenders.

In both cases, it is best to look out for money management solutions that can help to boost income. Standard practices like putting your assets on rent, selling rarely used items, etc. can help to survive for some time. However, they fail to deliver a sustainable long-term salary, and especially not a boost.

Fortunately, there are a few ways to deal with debt problems. They may even help to boost income and make a family feel less miserable during a financial crisis. The methods include joining UK government programs, compensation, and income tax credit.

Methods and Programs to Overcome a Financial Crisis

●      Earned Income Tax Credit

Earned Income Tax Credit is often overlooked income generation means during employment. However, income changes or recent layoffs may make the person eligible in the same year with financial problems.

The credit received relies on the family size and income amount of the person. The qualification of the credit requires falling beneath a certain amount while employed and doesn’t rely on income tax eligibility.

●      Unemployment Compensation

Unemployment Compensation

A reduction in working hours or job loss can create a significant effect on financial well-being. However, a person should always apply for unemployment compensation as fast as possible in any of these scenarios.

Unfortunately, the benefits of unemployment compensation may get revoked if you voluntarily left the company or got fired. The federal government establishes and administers programs of each state.

One such source includes the National Employment Law Project (NELP). It mentions some of the best methods of unemployment compensation through publications. Besides this, a person can opt for guaranteed loans for unemployed.

The unemployment loans can provide cash between £100 and £5000. It would depend on the credit score or ratings, repayment options, steady recurring income, etc. of the borrower. Moreover, these would help to recover from ongoing debts as well as cover bills, expenses, and fees.

●      SNAP or Supplemental Nutrition Assistance Program

SNAP or Supplemental Nutrition Assistance Program

Besides loans, unemployment compensation, and earned income tax credit, choosing SNAP would reduce expenses. The program provides food stamps to help in supplementing food budget during a financial crisis.

A person can apply for SNAP assistance through a local office, commonly found in community public assistance buildings. Some states offer the provision of online applications. But sending a letter or calling an office is mostly available in almost every state. The information is available on the government website.

Unfortunately, some applications get denied due to arithmetic mistakes or eligibility confusion. Therefore, a person shouldn’t get confused and reapply without any second, though. The person can even call, send a letter, or review rejection reason online and ask for the corrections or help with the application.

●      Other Programs

Supplemental Food for Mothers

SNAP is not the only program for food assistance. Women with children below five years of age or pregnant can apply for WIC or Women, Infants, and Children program. The local public health departments administer and give vouchers for food supplementation.

The supplemental food is made to take care of the mother’s health and children’s early development. WIC also has a national lunch program to help snack or meals to school children. Aside from this, it also has an after nutrition, breakfast, and summer nutrition programs.

Furthermore, local unions and communities also provide food for people with a financial crisis. Many sites enlist the locations of cafeterias and food distribution centers wherein a family can get food.

●      Other Methods

If the programs and money generation options still don’t compensate for the home essentials such as money and food, then there are other methods. These include collecting owed debts, increasing working hours by starting as a freelancer or working at a second place.

Staying at home, unwilling to work, or inability to clear job interviews would increase the monetary burden if would make the situation chaotic with the rising child care costs, taxes, living expenses, etc.

Along with these methods of increasing income, a person can start an online business with a free website. The person can also sell self-made products or resell company products through online selling websites.

The money would also increase after clearing short-term debts, rounding up loans, and paying the borrowed sum back to the lenders. Moreover, borrowers can always opt for short or long-term loans to build financial stability, start a business, study for career growth, etc.

The government provides various types of student loans to help in the completion of higher education, graduation, and post-graduation. These allow the borrower to start paying back after getting employment.

Therefore, a person can build a career at no cost in the beginning and pay low-interest rates on the borrowed amount after employment. The same is also possible with unsecured high-interest loans.

Description

A financial crisis occurs when the liabilities, expenses, fees, and debts exceed assets and incoming cash flow. SNAP, WIC, unemployment compensation, earned income tax credit and other programs, as well as methods, can help to overcome this burden.

WHAT WILL BE THE KEY SOURCES OF BUSINESS FUNDING IN THE UK?

Every business, no matter which industry it is in, needs money to operate and expand to other geographies. Companies at times can’t generate sufficient cash flow to fund these processes and they seek funding from an external source. This process of raising funds is anything, but manageable. This processing of raising money for growth is challenging, no matter which stage of your business you are in.

However, things become easy when you have complete knowledge of ways and sources of financing.

Fortunately, there are many sources of raising funds for new or existing businesses in the UK. Direct lenders are offering bad credit loans with no guarantor and no credit check to established businesses and young start-ups. These are unsecured, i.e. collateral-free loans which do not require you to produce a guarantor, unlike in a commercial bank. This blog will introduce you to some of the funding sources which you can explore to raise capital for your business.  

Traditional Sources of Funding

Traditional Sources of Funding

The old businesses that are in existence continue to adapt to this traditional method of raising money via banks. This is because the business owners have now built a rapport with the managers of the bank they put their money in.

Based on a long history of business transactions, the bank gives them a line of credit or overdraft facility on their current account with the bank. This is a mutually beneficial relationship for the bank as they know the borrower’s business inside out, and thus there are pretty low chances of credit risk.

And for the borrower, he gets quick money with less paperwork and also receives a lower interest rate due to a strong relationship with the bank.

Other additional benefits that the borrowing business may get are no collateral, no guarantor, no strict loan application processing, and no restricted covenants on loan.

Thus, many traditional businesses in The United Kingdom (UK) still rely on these conventional sources of financing. However, for a new customer, banks in the UK conduct strict credit checks for every loan applicant, ask to pledge any security as collateral against the loan, produce a guarantor, etc.

Your financials need to be stable, and cash flows should be consistent to get a bank loan in the UK.

Crowdfunding

Crowdfunding

Crowdfunding is proving to be a modern method that is trending in the UK. This mode of raising capital is predominantly for the small and medium enterprises operating in the country.

Many investors who are both individuals and companies invest in crowdfunding projects expecting decent returns from it. Many crowdfunding platforms are coming up in the UK scene, both as donation and reward crowdfunding platforms, the debt crowdfunding platform, and equity-based crowdfunding platforms. Some of the famous crowdfunding platforms are JustGiving, Seedrs, Syndicate Room, Funding Circle, Zopa, Crowd Cube, to name a few.

Peer-to-Peer Lending (P2P)

Peer-to-peer lenders work in a way that they act as intermediaries between the lender and borrower and bridge the gap between them.

These days, many of the P2P platforms are also allowing investors/lenders to take equity ownership in the borrower’s company. This mode of financing has tasted success in only a few years of their operations by helping many companies raise funds. Some of the famous P2P lenders in the UK are Rate Setter, Axia Funder, Capital Rise, Blend Network, Crowd Property, to mention a few.

Direct Lenders

Direct Lenders

These lenders are present online and offer bad credit loans. These lenders are present online, and their loan application process is pretty smooth. The best part is that the loan amount is transferred to your bank account on the same day you apply for it.

  • These are quick loans given on a short-term basis to start-ups and small companies. You neither need to pledge any asset as collateral to get the loan and nor produce any guarantor to represent you.
  • Another merit of applying for these loans is that your credit score will not exacerbate even if the loan application is rejected. This is unlike banks where your credit score will get affected if your loan application is not approved.
  • These loans have minimum documentation, and it takes just 5-10 minutes to fill the loan application form and upload necessary documents.

When it comes to repayment, the borrowing company can sit with the lender and negotiate on the repayment schedule and other repayment terms and conditions. You can adjust the loan’s tenor or the monthly installment based on your business’s cash flows.

One downside of these loans is that the interest rate on them is usually on the higher side, i.e. 40-70% per annum based on your company’s profile and lender’s risk assessment. This interest rate is significantly higher than what a commercial bank will charge. Still, you are getting an assured loan here without any restrictions and even if your credit score is substandard.

Venture Capital & Private Equity Investors

Venture Capital & Private Equity Investors

This mode of financing is also growing at an unprecedented pace in the UK, especially in the technology start-ups space. VC/PE investors are pumping millions and billions of pounds in promising business ideas for them to continue their R&D efforts and diversify their product portfolio.

The investors, in return, take equity in the start-up company and sit on its board for strategic decision making and future direction setting.

The best part about this funding route is that the company raises as much capital as it wants from the investor without giving any security. You have to compromise a little with the ownership of the company and in return, get the colossal amount of money to expand their business and make it big.

To get noticed by these Angel investors, the company needs to have a solid business idea, an ideal business model, and a vision for the future. The flipside to this mode of funding is that the external investor on your board and you may have a conflict of interest, because of which your business will have to suffer.

Thus, it is your responsibility as the start-up owner to choose that investor whose goals and vision for your business align with yours. Description: This blog was written for start-up founders and owners of SMEs to increase their awareness about the funding options available to them to raise capital.