Financial Advisor, Mass MutualFollow this author
Summer vacation is over and the weather is cooling off. School is back in session. After the lazy days of summer, America is getting back down to business. Fall is the traditional time, for example, to clean the house and get organized.
A hundred years ago, fall cleaning might have involved beating the carpets, switching the summer curtains for the winter drapes, and taking the heavy woolens out of mothballs (no wearing white after Labor Day). Today, however, fall cleanup is more likely to mean….tag sales!
Americans today are consumers. Conventional wisdom holds that consumer spending drives the economy. When people stop shopping, we are told, the country's in trouble! While we are privileged to be able to find virtually anything we need, in any season, often the "need" is merely a "want," manufactured by advertising. We buy new before we use up or wear out the old. We end up with more stuff than we could ever deplete or even, in some cases, find room to store.
Fortunately, most of us love to sell and trade as much as we love to buy. That never-worn markdown we thought was such a bargain at 15 dollars? We're excited to net 50 cents for it. The treadmill that was going to save us the price of a gym membership? The juicer and food dehydrator that were going to revolutionize our breakfasts and snacks? Once we're tired of them, we'd really just rather have the closet space back—if only to make room for future purchases.
This fall, why not hold a tag sale? Children can get in the act, too. Most kids are fascinated by money—both getting it and spending it—and tag sales are all about money. A tag sale can be a fun way to teach youngsters about money and get the house in order at the same time.
Start by holding a little planning session. Here are some things you'll have to figure out before you begin collecting and pricing items for your sale:
Now begin collecting your sale items. If children are allowed to keep the profits from the sale of their own possessions, they'll be more willing to recycle them to a good home. Once you're done collecting, gather together the rest of your materials:
Taking a Look at a Fresh House and Your Family’s Finances
As your family cleans out in preparation for the tag sale, consider this a nice time to take a fresh look at your household’s finances. To learn more or access helpful materials, speak with a local financial professional or visit www.massmutual.com/family.