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New Uses of Assets: Personal Property

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Personal property can be a source of cash, often without selling it or cashing in items such as CDs (the bank accounts, not recordings).

Each of the following subjects are discussed in detail in the documents listed in "To Learn More:"

  • Certificates of Deposits or Other Term Bank Accounts
  • Stocks and Bonds
  • Other Personal Property
  • Automobiles/Trucks

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 these sites is Zilok offsite link

If you have an item and want a different one, you may be able to swap through such websites as:

NOTE:

  • 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

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