We like using craigslist. At this point its kind of an open secret, but craigslist has become a virtual marketplace. Since its free and easy to use, its become quite popular.

When Miel was moving out to Washington, she sold everything in her apartment and her car via craigslist and earned a bunch of money. In fact she’s actually been able to make some friends via craigslist as well. She met her friend Susan, via craigslist also.

We’ve also been able to use craigslist to turn a profit on our spare household goods. For example a few months ago, someone put a microwave oven in the lobby of our building. We cleaned it up, posted it on craigslist, and ended up selling it for a small sum ($10), but what was great about it was that it happened quickly and efficiently. Miel also sold James’ bachelor microwave after first moving to DC. She called at noon to see if we wanted to sell it (we had a build in where we were moving) and it was gone by the time James’ came back from work! He had $25 bucks instead of an old microwave.

The key thing about selling on craigslist is just like anything else. It’s important to determine the proper pricing for an item in order to sell it quickly. Most people are looking for a good deal on a used product when they buy through craigslist. For example, James received a gift card as a present a while back. he posted the card for 60 percent of its dollar value (e.g. $30 for a 50 dollar card) and only got a couple of responses, both of which flaked out. However, when we posted it at half off later ($25 for a 50 dollar card) we got a ton of responses, and the first taker bought it from us.

Some people think its silly to let something like that go so cheeply, but the point is that Craigslist can be a great way to quickly and efficiently determine the price at which something in your local area will sell.

We’ll certainly be using it plenty when we get new goodies from our wedding! Craiglist here we come!

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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