It may not feel like Mother Nature has gotten the memo some days, but spring has, in fact, sprung! It’s customary at this time of year to give your home a good cleaning to clear out the cobwebs and get rid of unneeded or unwanted items. This can lead to uncovering all kinds of things, from financial and household documents, to clothes that either don’t fit or have gone out of style, and much more. Here are some ways you can cleanse and save money!
Let It Go
Between cleaning out closets, cabinets, junk drawers, attics and garages, you’re bound to uncover quite a few objects you could stand to part with. For anything in usable condition, consider hosting a yard sale, or try your hand at selling online through websites like eBay, OfferUp, and LetGo. Clothing, shoes and accessories, in particular, can be sold through sites such as Poshmark and thredUP. And did you know even gift cards you don’t plan to use can be exchanged for others or cash? Gift Card Granny is one example of a site that provides this service. No matter what you decide to do, protecting yourself and your identity should be your top priority with any online activity. Use good judgment and take necessary precautions! A great resource offered by hundreds of police departments is SafeTrade Stations, where residents can conduct in-person transactions safely. The SafeTrade Stations website provides this list of local stations by jurisdiction, city and state. There are many in New Jersey — in Bergen County, you can find stations listed in Allendale, Bloomingdale, Closter, Hillsdale, and Lyndhurst. You can always call your local police station to find out if they have a safe meeting place!
According to a Coinstar study, 90 percent of Americans surveyed had spare change lying around in couch cushions, purses, cup holders, and junk drawers. The majority of respondents estimated having $41 in spare change on-hand; however, Coinstar’s nationwide kiosk data indicated that, on average, people cash in $68 when they convert their coins to no fee eGift Cards — that’s $27 more than respondents thought they had! Change adds up — make it count!
According to Give Back Box®, an estimated 11 million tons of clothing, footwear, towels, bedding, drapery, and other textiles end up in U.S. landfills every year. If you have cardboard boxes or online shipping boxes from any purchases you received, as almost all of us do, reuse it for a good cause! Simply pack it up with unwanted or unneeded household items such as gently used clothing, jewelry, shoes etc. Then, go to GiveBackBox.com to print a prepaid shipping label and attach it to the box. Finally, drop it off at a UPS or USPS location near you; the boxes are routed directly to the nearest participating local charity organization. This is a great way to clear out space while doing some good that will make a real difference for someone!
Tax Tip: Remember, if you donate any items to a charitable organization, get a receipt, then claim the donation on your tax return if you itemize.
Capitalize on Seasonal Offerings
Many people look forward to holiday promotions and end-of-season sales for great deals on clothes, shoes, electronics, cars and more. Spring’s arrival marks a good time to take stock of any major financial decisions on your agenda, such as real estate projects and purchases. Check out and compare the latest rates from lenders (like us) to see if now is the time to make your move!
Weather-wise, spring is also an ideal time for home improvements. External doors and windows are constantly opening and closing, as rooms need to be ventilated and tools and materials need to be transported back and forth. The weather spring commonly brings with it reduces the likelihood that you’ll need to play the part of “thermostat monitor,” as you would in the hot summer or cold winter months, saving you from stress and spending. That’s what we’d call a win-win!
In the beginning of spring, taxes are top of mind for most. Did you know that any money you contribute to an IRA CD account can potentially be tax deductible? It’s true. That’s why NVE is running a special promotion on opening an IRA CD during this year’s tax season. Just another reason to be happy spring is here!
If any of these tips earn you some extra pocket money, don’t just save it for a rainy day…let us help you make it make it grow! One of the best ways to do that is to deposit it into an interest-bearing account, such as savings, money market, or certificate of deposit (CD). Visit the NVE website, one of our convenient neighborhood branches in Bergen County, or call 1-866-NVE BANK (683-2265) to learn more.