GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Based on my experience working with clients, Ive identified several high-value items that can quickly boost savings accounts.
Here are some of the top items millennials could consider selling to boost their savings.
Also seefive money moves wealthy people make before the start of any new year.
That makes them great items to resell for some extra cash.
And its likely millennials have accumulated a few of these items over time.
One client made $3,500 selling three designer bags she hadnt used in years, he said.
Second Vehicles
With remote work becoming common, many two-car millennial households can function with one vehicle.
A second car costs around $9,000 annually in maintenance, insurance and depreciation, Salahi explained.
If its not needed, selling it could be a great option to build savings.
Its also important to look at all car payments and determine whether your finances can handle it.
The best option is likely selling the car with the highest payment.
Recreational Vehicles
If you have a boat, sell it, Musson suggested.
According to U.S. News, a 20-foot boat can cost anywhere from $10,000 to $60,000.
Thats a lot of money that millennials could be putting toward their savings.
The same principle applies to other fun vehicles like dirt bikes, ATVs and campers, she said.
Gaming consoles, tablets and smartphonescan fetch $200 to $800 each.
Sell electronics you no longer use, she said.
If you have video game systems that you dont play, sell them.
Exercise Equipment
Home gym equipmentbought during lockdowns often sits unused.
Salahi emphasized thattreadmills and exercise bikestypically resell for 40% to 60% of their original price.
Pokemon cards alone have seen a 500% increase in value since 2019.
More From GOBankingRates
Share This Article:
