WEBVTT - $1,000 in a weekend 0:00:01.770 --> 0:00:03.890 Welcome to How Do They Afford That, the podcast that 0:00:03.930 --> 0:00:07.100 peeks into the financial lives of everyday Australians. I'm Michael Thompson. 0:00:07.120 --> 0:00:09.980 I'm an author and the co-host of the business news podcast, 0:00:10.020 --> 0:00:12.980 Fear and Greed. As always, I'm with Canna Campbell, financial 0:00:13.039 --> 0:00:17.680 planner and founder of the financial literacy platform, Sugar Mama TV, 0:00:18.230 --> 0:00:22.010 and my co-author on our book, 12 Months to Financial Freedom, 0:00:22.030 --> 0:00:24.820 which is a great read. I mean, listen. I say 0:00:24.860 --> 0:00:26.620 that knowing that we've wrote it ourselves. 0:00:26.900 --> 0:00:30.900 It's a great practical read in that you know exactly. 0:00:30.460 --> 0:00:31.200 What to do. 0:00:31.280 --> 0:00:33.520 We talk you through it. We take it slow and 0:00:33.560 --> 0:00:35.480 steady and we just focus on little things that you 0:00:35.500 --> 0:00:35.820 could do. 0:00:35.840 --> 0:00:35.910 Yep. 0:00:36.600 --> 0:00:38.680 Very easy, very fast, very impactful. 0:00:38.900 --> 0:00:44.550 Now, to today's episode. The cost of living is hurting. 0:00:45.130 --> 0:00:46.930 I think I can pretty much say everyone. 0:00:47.250 --> 0:00:47.430 Yeah. 0:00:47.570 --> 0:00:50.330 I don't think anyone is really. Maybe the 0.1% are immune, 0:00:50.430 --> 0:00:55.440 but everyone else. But there's only so much that you 0:00:55.460 --> 0:00:58.240 can cut from your grocery bill, all right? There's only 0:00:58.280 --> 0:01:02.140 so much that you can kind of cancel costs in 0:01:02.460 --> 0:01:05.480 your budget, only so much you can kind of negotiate 0:01:05.520 --> 0:01:09.800 to get a better deal on things. So today I'm 0:01:09.880 --> 0:01:13.540 setting you a challenge. This is not a joint challenge. 0:01:13.580 --> 0:01:19.500 This is you on your own. Could you make $ 1, 000 0:01:17.620 --> 0:01:22.759 this weekend using pretty much nothing more than the stuff 0:01:22.800 --> 0:01:28.200 that you already own Absolutely. Oh, I thought that you 0:01:28.250 --> 0:01:30.330 would be a little bit more like, oh, I don't know. 0:01:30.350 --> 0:01:32.910 We'll give it a go. But no, you're just all 0:01:32.950 --> 0:01:34.410 guns blazing. You're into this. 0:01:34.690 --> 0:01:38.690 I did this probably about 10 months ago. I went 0:01:38.709 --> 0:01:43.020 through my wardrobe and listed lots of things. I did 0:01:43.040 --> 0:01:45.560 a massive declutter and I think I made about $ 600 0:01:45.520 --> 0:01:47.000 or $ 700. Hey, well done. All right. 0:01:47.020 --> 0:01:52.240 Well, Let's do it. Let's do this right now. Is $ 1, 000, 0:01:52.000 --> 0:01:56.090 first of all, $ 1, 000. That is a, is it a 0:01:56.120 --> 0:02:00.010 realistic target for a normal household? We know there are 0:02:00.050 --> 0:02:03.270 stats around how much people have in their homes. It's 0:02:03.310 --> 0:02:05.630 probably realistic. I mean, it's a stretch target. 0:02:05.810 --> 0:02:08.510 It's very subjective because obviously if you're someone who has 0:02:08.530 --> 0:02:12.710 a very simple home, is someone who regularly declutters or 0:02:13.230 --> 0:02:18.040 is quite meticulous about not spent, like constantly consuming. That's 0:02:18.060 --> 0:02:20.280 going to be quite hard. But then obviously if you 0:02:20.300 --> 0:02:23.320 look at someone who is a family, a young family 0:02:23.340 --> 0:02:26.400 where you've got lots of stuff, and people who also 0:02:26.520 --> 0:02:28.660 have lived in the one place for a long period 0:02:28.680 --> 0:02:31.980 of time, one of the biggest times you declutter in 0:02:32.020 --> 0:02:34.859 your life is when you move homes. So if you've 0:02:34.900 --> 0:02:37.480 moved a lot, those type of people tend to not 0:02:37.540 --> 0:02:39.989 actually have that much stuff that they can get rid of. 0:02:40.000 --> 0:02:42.400 Whereas if people have been living in the same home for, say, 10, 15, 0:02:42.380 --> 0:02:47.320 20 years, naturally, organically almost, you have probably got a 0:02:47.440 --> 0:02:49.660 lot of stuff that you could look at seriously decluttering 0:02:49.700 --> 0:02:51.440 and probably could make a lot more than $ 1, 000. Okay. 0:02:52.700 --> 0:02:53.500 Where do you start looking? 0:02:54.380 --> 0:02:57.540 I would go straight to the storage columns. Even people 0:02:57.600 --> 0:03:00.470 who have– and I wish I had found this stat, 0:03:00.490 --> 0:03:02.750 but there's a huge amount of money we spend as 0:03:02.770 --> 0:03:07.690 a country on storage solutions, like off-site, so like storage lockers. 0:03:07.710 --> 0:03:08.230 Oh, yeah. 0:03:08.970 --> 0:03:11.170 And so I would be– if you have storage off-site, 0:03:11.270 --> 0:03:12.630 I would go straight to that because that's stuff that's 0:03:12.650 --> 0:03:14.400 been out of sight, out of mind– If you manage 0:03:14.440 --> 0:03:17.019 to survive without it this long, you probably can look 0:03:17.060 --> 0:03:19.790 at selling and obviously saving that money that you're paying 0:03:19.850 --> 0:03:22.669 on storage as well. But even just going to the 0:03:22.710 --> 0:03:25.810 cupboards that you haven't opened for a while, the drawers, 0:03:27.550 --> 0:03:29.329 the things that have gotten pushed to the back that 0:03:29.370 --> 0:03:31.720 you can barely see anymore because you're not using them. 0:03:32.000 --> 0:03:34.100 Under the bed. Yeah, under the bed. 0:03:34.340 --> 0:03:35.140 What do you keep under your bed? 0:03:35.820 --> 0:03:37.160 Don't you keep stuff under your bed? 0:03:38.240 --> 0:03:39.940 Actually, my bed's one of those gas things that you 0:03:39.960 --> 0:03:41.380 can lift up and down. 0:03:41.520 --> 0:03:42.140 I'm sorry, what? 0:03:42.240 --> 0:03:45.250 What? Yeah, you know those, like it's got storage underneath 0:03:45.310 --> 0:03:48.370 it but the mattress goes up at an angle? No. 0:03:48.410 --> 0:03:50.490 And that's where we keep our Christmas tree stored. 0:03:50.850 --> 0:03:51.150 Really? 0:03:51.230 --> 0:03:51.430 Yeah. 0:03:51.450 --> 0:03:53.920 Do you know that once when I lived in Canberra 0:03:55.620 --> 0:03:58.520 and when fireworks were legal and you could go in 0:03:58.540 --> 0:04:02.620 and buy them. You kept them under the bed? I once, yeah, 0:04:02.840 --> 0:04:05.660 stocked up on fireworks. This is many, many years ago. 0:04:06.440 --> 0:04:08.520 And then we didn't end up setting them all off 0:04:09.580 --> 0:04:11.810 on the long weekend when you're allowed to. So I'm like, 0:04:11.820 --> 0:04:14.490 that's fine, I'll store them. stored them under my bed 0:04:14.610 --> 0:04:18.650 for 12 months, which in hindsight is a terrible, terrible 0:04:18.710 --> 0:04:22.070 thing to do. Surely that is a high-risk activity. 0:04:22.470 --> 0:04:24.870 Especially these days with things that, you know, with cords 0:04:24.950 --> 0:04:28.099 and phones and like battery chargers and power banks. 0:04:28.400 --> 0:04:29.559 Highly combustible. Yeah. 0:04:29.779 --> 0:04:30.000 Yeah. 0:04:30.540 --> 0:04:34.980 Anyway, I survived. Clearly, I'm here. But anyway, I still 0:04:35.000 --> 0:04:39.240 think back and go, oh, that's probably unnecessary risk. But also, 0:04:39.260 --> 0:04:42.760 how about you risking, what if your gas bed mounts 0:04:42.920 --> 0:04:45.760 malfunction and suddenly it's like bang into the wall in 0:04:45.779 --> 0:04:46.520 the middle of the night? 0:04:47.279 --> 0:04:49.159 No, I'm pretty sure with Tom and I in the 0:04:49.180 --> 0:04:51.800 bed and the dogs and the kids, it's not going 0:04:51.820 --> 0:04:54.160 to be. It's more likely to collapse, I think, with 0:04:54.200 --> 0:04:54.900 the weight and pressure. 0:04:54.920 --> 0:04:57.520 All right. So anyway, we've established that maybe you can 0:04:57.560 --> 0:04:58.220 look under the bed. 0:04:58.400 --> 0:04:58.479 Yes. 0:04:58.520 --> 0:05:03.260 And there might be stuff under there worth selling. Looking 0:05:03.300 --> 0:05:08.110 around your house, what categories of stuff tend to– have 0:05:08.140 --> 0:05:12.690 the most value kind of sitting unused. I imagine everyone 0:05:12.710 --> 0:05:18.310 would have some electronics, there would be furniture, clothes, kids stuff, 0:05:18.370 --> 0:05:20.620 which is so high risk that is. 0:05:21.020 --> 0:05:24.300 So you've got like kitchen gadgets, things that you, you know, 0:05:24.320 --> 0:05:28.040 appliances that you've purchased and you just don't use anymore 0:05:28.080 --> 0:05:31.919 or you've got something that's multifunctional that now you've got 0:05:31.940 --> 0:05:35.170 almost like a duplicate. So you can definitely look online 0:05:35.190 --> 0:05:38.310 to see if you can sell those. Kid stuff, particularly 0:05:38.410 --> 0:05:41.790 baby stuff, can actually sell quite well depending obviously the 0:05:41.830 --> 0:05:44.409 condition of it. You've obviously got to take into consideration 0:05:44.430 --> 0:05:48.170 obviously making sure the hygiene is acceptable to actually to 0:05:48.210 --> 0:05:51.410 sell it, the demand, the platforms that you're actually going 0:05:51.430 --> 0:05:54.730 to be selling these things on. Then there's sporting equipment, 0:05:55.589 --> 0:05:59.830 water skis, even like clothing, like the outfits. If you've 0:05:59.850 --> 0:06:04.310 got kids that don't fit them anymore, tennis rackets, all 0:06:04.350 --> 0:06:07.040 those sorts of things where people– go out and buy 0:06:07.060 --> 0:06:09.060 all this stuff and they never end up using it. 0:06:09.680 --> 0:06:12.860 I love the way your brain works. Rather than going to, say, 0:06:12.980 --> 0:06:16.170 golf or something, the second suggestion that you had that 0:06:16.210 --> 0:06:20.430 people could sell is water skis. Let me just duck 0:06:20.470 --> 0:06:23.110 down to the garage and grab my spare water skis 0:06:23.170 --> 0:06:24.589 and pop them on Marketplace. 0:06:24.810 --> 0:06:27.750 People do this, though. They try it once and think, oh, 0:06:27.790 --> 0:06:29.270 I'm going to do this, and they're going to spend 0:06:29.310 --> 0:06:31.940 a whole pile of money, and it never sees the 0:06:31.980 --> 0:06:33.839 light of day, gathering dust. 0:06:34.060 --> 0:06:38.239 No, that is... Um, that is absolutely the case. How though, 0:06:38.380 --> 0:06:43.640 do you, how do you decide what to sell and 0:06:43.700 --> 0:06:46.919 what you will regret getting rid of? And these are 0:06:46.960 --> 0:06:54.650 questions coming from a borderline hoarder, right? I always worry that, oh, okay. 0:06:54.770 --> 0:06:56.990 Maybe I might need this one day. I'm better off 0:06:57.050 --> 0:07:02.549 keeping it. How do you psychologically make those decisions? 0:07:03.440 --> 0:07:06.440 If you haven't been using it and you cannot see 0:07:06.560 --> 0:07:09.580 an immediate need where you will be using that. 0:07:09.600 --> 0:07:11.480 You're not going water skiing in the next six months. 0:07:12.420 --> 0:07:14.660 It is time to release that and to look at 0:07:14.700 --> 0:07:17.870 the lesson and to think, you know what? The water 0:07:17.880 --> 0:07:19.990 skis are going to go to someone who's actually going 0:07:20.010 --> 0:07:21.690 to love them. They're going to use them. They're going 0:07:21.710 --> 0:07:24.730 to appreciate them. They're going to be used for what 0:07:24.750 --> 0:07:29.250 they were built for. And move on. Don't let that 0:07:30.040 --> 0:07:32.560 pull you down in life like having that mindset does 0:07:32.680 --> 0:07:35.460 not serve you and also think about the space you're 0:07:35.500 --> 0:07:37.900 freeing up as well yeah it's going to be so 0:07:37.920 --> 0:07:41.960 much easier to keep your home organized and clean and 0:07:42.500 --> 0:07:46.660 neat with less clutter around yourself and also i'm a 0:07:46.720 --> 0:07:50.960 big believer in looking at the water skis and feeling 0:07:51.000 --> 0:07:55.060 guilty feeling ashamed regretful wow i spent that much money 0:07:55.110 --> 0:07:56.940 on those water skis and i never have used them 0:07:57.000 --> 0:07:58.930 or i haven't used them for so many years and 0:07:58.970 --> 0:08:01.430 i don't plan on Like you don't use it as 0:08:01.470 --> 0:08:02.650 a form of punishment. 0:08:03.560 --> 0:08:06.540 That is probably the next big one, which is this 0:08:06.620 --> 0:08:10.360 idea of, hey, I paid 500 bucks for these. If 0:08:10.500 --> 0:08:13.500 I get rid of them, if I sell them for $ 100, 0:08:13.040 --> 0:08:18.210 then that's kind of $ 400 that I've wasted. I'm better 0:08:18.250 --> 0:08:21.310 to keep it. And at least then I'm not crystallizing 0:08:21.350 --> 0:08:22.030 the loss, right? 0:08:22.550 --> 0:08:25.710 Well, not necessarily. Again, you can use this to actually 0:08:26.380 --> 0:08:29.610 think about, okay, well, I've got a lesson here. Clearly, 0:08:29.690 --> 0:08:33.090 I have an overconsumption or I am shopping mindlessly without 0:08:33.150 --> 0:08:37.050 thinking things through, maybe some impulse purchases. But the other 0:08:37.070 --> 0:08:40.770 thing is, say, for example, I sell something for $ 100 0:08:40.730 --> 0:08:43.949 and I then use that money wisely. I say, for example, 0:08:43.970 --> 0:08:47.930 put it onto my home loan and say I've got 0:08:47.970 --> 0:08:49.190 a $ 650, 000 home loan and say I'm paying about, say, 6.5% interest. 0:08:49.210 --> 0:08:57.329 That would actually save me about Just over $ 400 in interest. Okay. 0:08:57.750 --> 0:09:01.050 So you can't think like that. Obviously, that's a situation 0:09:01.070 --> 0:09:02.729 where someone's got a home loan. Not everyone has a 0:09:02.750 --> 0:09:05.450 home loan, but that money might be the birth of 0:09:05.530 --> 0:09:06.630 your investing strategy. 0:09:06.650 --> 0:09:10.590 Yeah, and you might actually kind of almost make more 0:09:10.610 --> 0:09:11.450 than the value of it. 0:09:11.730 --> 0:09:12.170 Exactly. 0:09:12.250 --> 0:09:12.830 In the long term. 0:09:13.010 --> 0:09:15.510 It's literally money that's sitting there. It could be doing 0:09:15.550 --> 0:09:18.620 something productive in your life rather than, let's be honest, 0:09:18.720 --> 0:09:19.440 collecting dust. 0:09:19.780 --> 0:09:22.699 Okay. We are going to take a very quick break. 0:09:23.120 --> 0:09:24.420 On the other side, you're going to give us a 0:09:24.440 --> 0:09:27.940 bit of a masterclass in selling online in order to 0:09:28.000 --> 0:09:32.559 try and accumulate this $ 1, 000 this coming weekend. Back in 0:09:32.580 --> 0:09:41.060 a moment. All right, Canna, we are talking about how 0:09:41.080 --> 0:09:46.110 to find $ 1, 000 in your house this weekend. You've gone 0:09:46.170 --> 0:09:48.709 to the garage you've looked under the bed you've gone 0:09:48.750 --> 0:09:51.380 into the cupboards you've pulled out all the stuff that 0:09:51.400 --> 0:09:53.300 you don't really use you haven't used it for six 0:09:53.340 --> 0:09:55.100 months so therefore you're probably not going to be using 0:09:55.140 --> 0:09:57.530 it in the next year or two years and you 0:09:57.550 --> 0:10:01.400 don't need it where do you sell do it does 0:10:01.620 --> 0:10:04.260 it depend does the right platform for selling stuff like 0:10:04.300 --> 0:10:07.780 this depend on what it actually is you. 0:10:07.679 --> 0:10:09.420 Do need to do a bit of research to know 0:10:09.500 --> 0:10:11.820 what is i know but if you want to get 0:10:11.840 --> 0:10:14.620 the best value like the best price it it pays 0:10:14.679 --> 0:10:18.589 to do this research beforehand okay I am a huge 0:10:18.610 --> 0:10:19.930 fan of Facebook Marketplace. 0:10:20.390 --> 0:10:20.550 Yeah. 0:10:21.210 --> 0:10:25.880 Because it's often within your community. Then, of course, Gumtree. 0:10:26.510 --> 0:10:29.939 Then you've got eBay as well. And another one I 0:10:30.000 --> 0:10:33.020 find really successful for clothes is actually Depop. 0:10:34.100 --> 0:10:39.140 How though? We have planned many times. Sian and I 0:10:39.200 --> 0:10:42.840 have planned like when she cleans out her wardrobe and 0:10:42.860 --> 0:10:44.580 she's got a bunch of dresses and things. She goes, 0:10:44.600 --> 0:10:46.989 I'm going to put these on Depop. And then you 0:10:47.170 --> 0:10:49.410 just go, oh, but how do you make sure it 0:10:49.450 --> 0:10:52.130 looks good? How do you take the photos so that 0:10:52.170 --> 0:10:54.630 it's lit well? And what background do you use? It 0:10:54.790 --> 0:10:56.780 just becomes too difficult. And so they go back into 0:10:56.800 --> 0:10:57.280 the wardrobe. 0:10:57.920 --> 0:10:59.260 You're making excuses. 0:11:00.000 --> 0:11:00.559 Correct. 0:11:00.580 --> 0:11:03.480 So look, set aside an hour and say, you know what, 0:11:03.500 --> 0:11:05.120 I'm going to use this hour to get as many 0:11:05.210 --> 0:11:09.900 items listed. A bit of a cheat sheet is to 0:11:10.140 --> 0:11:13.780 search through your phone and search that outfit. So within Apple, 0:11:13.960 --> 0:11:16.140 I can type in red dress and it will bring 0:11:16.179 --> 0:11:18.160 up photographs of me wearing a red dress. Hopefully I've 0:11:18.179 --> 0:11:20.740 got a photograph there of that red dress that I'm 0:11:20.760 --> 0:11:22.480 trying to sell so that I can use that in 0:11:22.520 --> 0:11:24.840 the depop listing. Of course, I can crop my head 0:11:24.880 --> 0:11:26.640 off if I don't want people to know it's me, 0:11:27.210 --> 0:11:29.250 but that's a great way to help. You know, make 0:11:29.290 --> 0:11:31.150 it a bit more to get you going because they 0:11:31.170 --> 0:11:31.750 get you started. 0:11:31.970 --> 0:11:34.390 Oh, so you don't have to list it as like 0:11:34.429 --> 0:11:35.930 hanging on a hanger or something. 0:11:36.010 --> 0:11:39.010 Well, obviously the more photos you can include the better. 0:11:39.030 --> 0:11:39.439 Okay. 0:11:39.760 --> 0:11:41.760 But at least you've got a photo, like a lot 0:11:41.780 --> 0:11:44.520 of people like to see clothes on someone so they 0:11:44.540 --> 0:11:46.380 can see how does it hang? How does it look? 0:11:47.240 --> 0:11:49.959 It's going to improve your sales. But if you think 0:11:50.000 --> 0:11:52.880 about it with your phone, it's so quick and easy 0:11:52.920 --> 0:11:54.990 to do. You pull the dress up, you hang it up. 0:11:55.090 --> 0:11:57.980 You take a few different photos from different angles. and 0:11:58.000 --> 0:12:00.020 then list it and off you go. And obviously you 0:12:00.040 --> 0:12:02.000 put in the video description, it's not video description, you 0:12:02.020 --> 0:12:05.010 put in the Depop description, the labels, but a lot 0:12:05.030 --> 0:12:08.640 of these apps, selling platforms actually now have AI within it. 0:12:08.690 --> 0:12:11.910 So it can sense the dress. So I'll put say 0:12:12.010 --> 0:12:14.210 a Zimmerman dress, it will pick up from seeing the 0:12:14.250 --> 0:12:18.439 label on the photograph Zimmerman, the size, the colors, it 0:12:18.480 --> 0:12:20.620 will also come with hashtags. It'll be like lace frilly, 0:12:20.679 --> 0:12:25.270 colorful dress, And a lot of the items can actually 0:12:25.290 --> 0:12:27.920 almost pick it up exactly what you're selling, even sometimes 0:12:27.960 --> 0:12:29.559 the name of the style of the outfit. 0:12:29.780 --> 0:12:30.140 Oh, wow. 0:12:30.660 --> 0:12:31.860 So it's really fast. 0:12:32.480 --> 0:12:35.559 Pricing, though, and I suppose you need to do a 0:12:35.580 --> 0:12:38.839 little bit of research for this. Is it generally better 0:12:38.900 --> 0:12:44.410 to price aggressively and undercut other people on there in 0:12:44.450 --> 0:12:45.990 order to get rid of something, or do you hold 0:12:46.050 --> 0:12:48.449 out for the highest possible price because it feels like 0:12:48.470 --> 0:12:52.280 that suddenly then takes up so much more time? And 0:12:52.480 --> 0:12:55.420 you're not valuing your time effectively if you do that. 0:12:55.780 --> 0:12:57.900 It's very subjective. If there are things that, you know, 0:12:58.020 --> 0:13:01.400 you're really attached to and you're, you know, you're selling 0:13:01.420 --> 0:13:02.650 because you know you're not going to use it again, 0:13:02.710 --> 0:13:05.569 but you still really love that particular item, then it 0:13:05.610 --> 0:13:07.690 doesn't hurt to maybe put it at a price so 0:13:07.710 --> 0:13:10.290 that you feel happy to let it go. But there's 0:13:10.309 --> 0:13:12.390 also times where you think, you know what, I don't 0:13:12.450 --> 0:13:12.750 need this. 0:13:12.790 --> 0:13:13.190 I don't want this. 0:13:13.250 --> 0:13:14.790 I'm just happy to let it go. And also, I 0:13:15.450 --> 0:13:18.290 don't want this dragging on because it's eating into my 0:13:18.370 --> 0:13:20.710 own time. I'm happy just to sell at a price 0:13:20.750 --> 0:13:24.270 where it moves quickly. And you can also say in 0:13:24.290 --> 0:13:27.750 your listings, I've got 20 other things listed. Go and 0:13:27.790 --> 0:13:30.750 check out my online store. I'm happy to combine shipping 0:13:30.830 --> 0:13:33.030 or I'm happy to offer discounts on two or three 0:13:33.050 --> 0:13:35.500 different items if you purchase. You can start moving things 0:13:36.140 --> 0:13:37.460 in bulk, essentially. 0:13:37.840 --> 0:13:42.700 What stuff, though, isn't worth the time and hassle of 0:13:42.740 --> 0:13:45.200 trying to sell? Because I really do like this idea 0:13:45.220 --> 0:13:50.900 of decluttering. And trying to, and turn that into money, 0:13:51.460 --> 0:13:53.880 especially if we're setting ourselves a target of a thousand dollars. 0:13:54.280 --> 0:13:56.760 And I can see if you were selling, say you 0:13:56.800 --> 0:13:59.520 had a, an old TV or something, or you're selling 0:13:59.620 --> 0:14:02.000 a PlayStation or something that you just don't use and 0:14:02.020 --> 0:14:03.630 you're able to get a hundred bucks or something for it. 0:14:04.080 --> 0:14:07.160 I can see the value in doing that. And, and okay, 0:14:07.200 --> 0:14:08.839 we do this across the weekend and you put a 0:14:08.880 --> 0:14:11.179 whole stack of clothing items and you can build up 0:14:11.200 --> 0:14:13.880 to a thousand dollars over a weekend. you might need 0:14:13.900 --> 0:14:15.870 to have a larger, a big ticket item, like a 0:14:16.910 --> 0:14:18.849 bed or something in order to get to that thousand 0:14:18.870 --> 0:14:23.450 dollars over the weekend. But it feels like below a 0:14:23.510 --> 0:14:29.420 certain level, it's just not worth the time and the 0:14:29.560 --> 0:14:33.920 hassle of trying to sell certain things because suddenly you're 0:14:33.960 --> 0:14:36.820 listing things for 10 bucks or five bucks. It's just 0:14:36.920 --> 0:14:42.390 not worth it. All those messages from people marketplace saying, hey, 0:14:42.430 --> 0:14:44.450 is this still available? And you write back to them 0:14:44.590 --> 0:14:45.990 and they just ghost you. 0:14:46.710 --> 0:14:48.930 Look, I think you'd be surprised as to how many 0:14:48.950 --> 0:14:51.690 things are actually worth selling. And even like I've seen 0:14:51.730 --> 0:14:54.750 situations where people have sold things that are broken because 0:14:54.790 --> 0:14:56.770 people want them simply because of their parts. And they're 0:14:56.790 --> 0:14:59.790 actually businesses that are buying them for their parts. I've 0:14:59.810 --> 0:15:03.350 also seen situations where people are actually selling bags of stuff. 0:15:03.370 --> 0:15:05.990 So they might have baby clothes. You think, oh, why 0:15:06.010 --> 0:15:09.650 would I go and list this onesie you know, on 0:15:09.910 --> 0:15:13.090 Facebook Marketplace or Depop, you know, but what if you 0:15:13.110 --> 0:15:15.550 got all of the baby suits that you don't actually 0:15:15.750 --> 0:15:17.610 fit or all of the outfits that don't fit and 0:15:17.830 --> 0:15:20.550 sell them in a batch? So you can't buy them individually. 0:15:20.570 --> 0:15:23.250 You have to buy the bag. And that person who's 0:15:23.310 --> 0:15:25.150 buying them knows that they're getting, you know, a mixture 0:15:25.190 --> 0:15:28.490 of different things all within that one bag that costs $ 50. 0:15:28.010 --> 0:15:31.910 That's then possibly, I think, worth your time. And I've 0:15:31.950 --> 0:15:33.830 seen people do this successfully, and I know people have 0:15:33.850 --> 0:15:34.670 done this successfully. 0:15:34.690 --> 0:15:37.050 Okay, so you're batching stuff. Okay. I like that. Do 0:15:37.120 --> 0:15:39.340 you know what I bought the other day on Marketplace? 0:15:39.600 --> 0:15:40.060 Oh, tell me. 0:15:40.300 --> 0:15:46.979 So I rarely shop on Marketplace. I was just cruising, 0:15:47.420 --> 0:15:51.710 and I saw someone had listed 10 minutes prior a 0:15:51.870 --> 0:15:56.210 bundle of things. There was a long-handled shovel, very exciting, 0:15:56.710 --> 0:16:00.690 a rake, There was a sledgehammer, like a mattock, a 0:16:01.030 --> 0:16:03.630 crowbar and all of these other things. And I had 0:16:03.650 --> 0:16:05.350 a couple of them, but the rest of them, I just, 0:16:05.470 --> 0:16:07.190 I needed these for doing a bit of kind of 0:16:07.210 --> 0:16:11.070 landscaping work at home. And just, it was like divine intervention. 0:16:11.150 --> 0:16:11.390 Yeah. 0:16:11.550 --> 0:16:13.650 I needed a few of these things. I needed that 0:16:13.720 --> 0:16:15.920 sledgehammer to break up some concrete. I needed some of 0:16:15.940 --> 0:16:19.359 these other bits and pieces. The whole lot, the shovel 0:16:19.400 --> 0:16:23.280 itself would have been worth like 60 bucks. The whole 0:16:23.320 --> 0:16:27.200 lot bundled. For $ 50. There you go. And I was 0:16:27.540 --> 0:16:30.119 on that like lightning. Picked it up. It turns out 0:16:30.140 --> 0:16:31.940 they were just around the corner from me. Picked them 0:16:31.980 --> 0:16:35.660 up that same afternoon. And honestly, I have never been 0:16:35.680 --> 0:16:38.740 more satisfied with an online purchase. Of course, I've now 0:16:38.980 --> 0:16:42.540 added to the clutter in my garden shed. But my God, 0:16:42.580 --> 0:16:43.200 I enjoyed that. 0:16:43.540 --> 0:16:45.060 You know what? You can now share those things with 0:16:45.100 --> 0:16:47.570 your neighbours and help them save money too. They're doing 0:16:47.590 --> 0:16:48.180 a bit of gardening. 0:16:48.570 --> 0:16:52.690 That's a good idea. So you create a little... Community. Community. Yeah, 0:16:52.710 --> 0:16:56.820 I like that. Okay. Um, How though do you avoid 0:16:56.860 --> 0:16:58.660 kind of doing what I just talked about where you 0:16:58.780 --> 0:17:02.489 kind of declutter, but then you sell 10 things and 0:17:02.510 --> 0:17:05.109 you just fill the space with five more. It actually 0:17:05.150 --> 0:17:06.870 requires a bit of a mindset shift, right? 0:17:07.270 --> 0:17:09.010 I think it's really important to be really present as 0:17:09.030 --> 0:17:12.129 you're selling things and you're going through your stuff and 0:17:12.190 --> 0:17:17.300 having to have those uncomfortable, honest conversations where you say, well, wow, 0:17:18.180 --> 0:17:19.960 that was a lot of money and I actually never 0:17:20.020 --> 0:17:22.899 wore it or I never used it or, you know, it, 0:17:23.520 --> 0:17:25.840 didn't quite meet my needs, or I probably should have 0:17:25.920 --> 0:17:28.520 researched more because it wasn't actually what I was really 0:17:28.540 --> 0:17:32.360 looking for. Those conversations can then help you become, I think, 0:17:32.400 --> 0:17:35.880 a better consumer, a better shopper, and help you think 0:17:35.940 --> 0:17:38.600 about how long it takes to earn money and how 0:17:38.660 --> 0:17:41.720 quickly we can spend money and how things quickly drop 0:17:41.840 --> 0:17:44.359 in value. So I think if you can open yourself 0:17:44.560 --> 0:17:47.400 up to the lesson or the message or wisdom here, 0:17:48.140 --> 0:17:51.000 that can help put the brakes on for when you 0:17:51.060 --> 0:17:54.040 next go shopping and need to, you know, replace those 0:17:54.100 --> 0:17:56.360 things or perhaps not replace them at all. 0:17:56.700 --> 0:18:00.159 Okay. You've made $ 1, 000. 0:17:59.280 --> 0:17:59.540 Okay. 0:18:01.100 --> 0:18:03.840 You've sold a bunch of stuff. And as I said before, 0:18:03.900 --> 0:18:07.360 probably some big ticket items in order to hit that $ 1, 000. 0:18:06.560 --> 0:18:11.550 What do you do with it? And it feels- Go shopping. 0:18:12.460 --> 0:18:15.169 Why not? It feels a bit unfair. God, imagine how 0:18:15.190 --> 0:18:18.429 many shovels I could buy for $ 1, 000. That'd be amazing. 0:18:18.450 --> 0:18:19.210 Like what are. 0:18:19.130 --> 0:18:20.130 You doing in your backyard? 0:18:20.230 --> 0:18:27.900 Yeah. Burying dead bodies? Don't ask. No, no, no, no one's. No, no. God, 0:18:27.920 --> 0:18:28.860 you've thrown me now. 0:18:28.920 --> 0:18:29.810 Nothing to see here. 0:18:29.830 --> 0:18:32.470 No, nothing to see here at all. No, but if 0:18:32.510 --> 0:18:34.429 you have $ 1, 000, it doesn't feel fair to ask you 0:18:34.450 --> 0:18:36.430 this when you've only got a minute to answer. But 0:18:37.050 --> 0:18:40.870 that's a decent cash injection at a time when most 0:18:41.130 --> 0:18:42.949 households are pretty cash poor. 0:18:44.290 --> 0:18:46.929 So I would say put it towards a goal, a 0:18:46.970 --> 0:18:49.710 financial goal, something that's stressy. If you're worried that you 0:18:49.730 --> 0:18:52.409 don't have enough emergency money, use that to kickstart your 0:18:52.450 --> 0:18:55.710 emergency money savings. If you have credit card debt that's 0:18:55.760 --> 0:18:58.900 just lingering around, put that towards the credit card debt. 0:18:59.600 --> 0:19:01.720 If you haven't started investing at something that's been on 0:19:01.740 --> 0:19:03.840 your list of things to do, use that $ 1, 000 to 0:19:03.859 --> 0:19:07.840 start investing. And if you've got debt, put it towards 0:19:07.880 --> 0:19:11.390 the home loan. Create some breathing space if you want to, 0:19:11.470 --> 0:19:14.050 or kickstart your financial float, which is what we talk 0:19:14.070 --> 0:19:16.370 about in our book, to help manage your cash flow 0:19:16.410 --> 0:19:20.869 so much better and more smoothly. Use that money intentionally. 0:19:22.350 --> 0:19:24.770 It's going to be a busy weekend. Everybody out there 0:19:24.810 --> 0:19:26.850 now looking for their thousand dollars in their house. 0:19:27.570 --> 0:19:30.889