Use eBay to Pay your Debts

Some economists suggest that we are currently in a recession. With home foreclosures on the rise and food and gas prices following suit, paying down debt can relieve much of the burden and stress that's afflicting families around the world. One of the ways to reduce the amount of money owed is to raise extra money with eBay sales. While there are plenty of people who sell just a few items on eBay for some quick cash, many others work at it full time.

Perhaps you've sold a few things on eBay recently – or if you haven't before, you might be seriously considering it now. But you may be wondering what you have to sell. If you've never checked out eBay, you'd be amazed at the variety of items individuals are selling today. Consider this statistic: there are over a billion people who use eBay globally. Why not take stock of the items you have at home that you no longer need or use, tucked away in the attic or garage, or have as a treasure-trove of unopened packages? All of which can be sold on eBay from the convenience of your home.

To help you get started, eBay has listings of the most popular items for sale, such as baseball cards, name-brand clothing and handbags, electronics, software, and on and on. You can easily check the auction prices of these items and compare them to what you'll be selling in order to determine how much you might receive. No matter what items you intend to sell, just follow the eBay instructions for signing up and placing an auction.

Before you begin selling items on eBay, open up a savings or checking account. You'll need one to sign up for PayPal, which is the preferred method of paying for items on eBay. When your items are sold, you can transfer the money from your PayPal account directly into your account and then draw it out to pay down your debts.

Selling on eBay also involves fees, however. There are insertion fees that depend upon the price at which you start the auction. For example, let's assume that you want to sell your camera and list it with a starting price of $60.00. The insertion fee you'd be charged is $2.00. Then, there's a final value fee. This is based on the amount that the item sells for. If you have an item that was sold for $153.00, for example, the final value fee would be $6.67. Be sure to check eBay's current fees on their website. This information is important because when you list an item you'll want to factor it all of the costs incurred for its sale, as well as shipping costs, so that you can make an educated guess as to how much to sell the item for.

The bottom line is that you likely have many items in your home which you can sell on eBay. It's a great way to pay off debt and you may even decide to start a home-based business doing it. There's lots of money to be made, so give it a try – after all, you have nothing to lose and potentially so much to gain.

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