New Uses of Assets: Personal Property
Personal property can be a source of cash, often without selling it or cashing in items such as CDs (the bank accounts, not recordings).
For information about each of the following assets, click on the link:
- Borrowing Against Certificates of Deposits or Other Term Bank Accounts
- Stocks and Bonds:
- Life Insurance
- Other Personal Property
- Automobiles/Trucks: Title Loans (Car Title Loans)
- Real Property:
If you have tools, a good camera or other expensive equipment, you may be able to rent it. Renting an object from one person to another is known as "peer to peer renting." The grandaddy of peer to peer rental sites is Zilok
If you have an item and want a different one, you may be able to swap through such websites as:
- Swap - Children's items
- SwapADVD - movies
- Swaptreasures - large variety of items
- Tradeaway - large variety of items
- U-Exchange - large variety
- Even giving property to charity can result in a financial gain because it can be used to reduce the amount of taxes you would otherwise have to pay Uncle Sam.
- If you decide to sell personal property, think about which alternative is best for you and the item(s). We provide information about: garage sales, as well as selling by consignment , auction and on the internet in the documents noted in "To Learn More.".
- If you own real property, such a house or an aparment, you can also obtain money from it without selling. To learn more, see: New Uses of Assets: Real Estate