IF you are looking to make a bit of extra cash this month, we have compiled a simple guide to give you a helping hand.
More than one in four people are looking to save money as part of their New Year resolutions, according to a survey by eBay.
Of this group, 30 per cent plan to do so by selling items online. But with so many platforms to choose from, it can be difficult to know which is best.
Here, Adele Cooke compares top sites Vinted, eBay and Depop and shares super sellers’ pro tips to help you get the most cash.
Vinted
PUTTING effort into your Vinted listings can increase your earnings and guarantee a quick sale.
There are no fees to upload or sell items on Vinted.
Once the sale is complete, the full sale price will be paid into your Vinted balance.
How long your item takes to sell depends on factors including the brand, condition, price, demand, photos and how well it appears in search results.
Think about the time you choose to list clothes and accessories on the website to boost your sales.
The weekend is the most popular time for browsing and shopping on Vinted but especially on Sunday evenings so make sure clothes and accessories are posted on the website before then.
Bank holidays can be another good time to upload your items if you do not use Vinted often.
Try to list accessories and clothes for the current season for a quicker sale.
Shoppers are more likely to buy summer clothes in the warmer months and winter items at that time of year.
Upload winter boots and raincoats in the autumn or dresses and sunglasses in a heatwave.
You should also consider an item’s condition when you set its price.
As a rule of thumb if an item is “new with tags” or “new without tags” then list the item for around 80 per cent to 60 per cent of the retail price.
Clothes and shoes in “very good” condition can fetch 60 per cent to 40 per cent of the retail price.
Depop
THERE are also no fees to sell items on Depop.
Which items buyers are looking for depends on the time of year.
In the summer men’s jerseys, flip-flops, sliders, trainers and casual shoes sell well.
When it is warmer, women’s overalls, leggings, sandals, platforms, sliders and bodycon dresses are popular.
In the winter, men look to buy puffer jackets, sweatpants, sweatshirts, trainers, hoodies and vests.
Meanwhile, women shop for sweatpants, fleeces, shirts, leggings, leather jackets and sweatshirts.
How long it takes for your item to sell depends on the tags and description you choose, the price and your photos.
You should build a relationship with your customers to boost your sales.
Reply quickly to potential buyers to build a rapport with them.
Be honest about the size, flaws and details of your items.
Give your photos a consistent look to help buyers understand what your shop is about.
eBay
YOU can sell up to 300 items a month on eBay for free.
You only pay fees for optional listing upgrades or if you deliver to an overseas address.
The average time to sell an item depends on the format you use to list it.
If you decide to auction your goods, you can choose to list it for between one and ten days.
Meanwhile, if you opt for a fixed price the item will be relisted every month until it is sold or until you end the listing.
Try to use all 80 characters and any relevant keywords in your listing.
The first four words of your item’s title should use terms that buyers will be searching for.
For example, if it is a luxury brand buyers will search by brand name so this should be one of the first words in your title.
Try to take photos in natural light against a neutral background.
You can add up to 24 images to your listing so take photos showing the item from all its different angles.
‘I have made £1,450 in five months’
VICKY Reynolds has made £1,450 in the five months since she joined Vinted.
The 36-year-old, from Birmingham, does not wait for her items to sell and instead reaches out to potential buyers.
The charity worker said: “Interacting with people can be really successful and helps to get your item sold.”
She messages her buyers to say: “I’m posting tomorrow and I can include this too if you’d like” or sends them a reduced price to help push the sale along.
Vicky also interacts with people on Vinted Facebook pages to secure a sale and increase her followers.
She said: “I’ve found the more followers you have, the more likely it is that people see your items when you upload them.”
She recommends always being transparent about the quality of your clothes and accessories.
Vicky said: “When listing be really thorough and take pictures of any stains or pulls.
“Go over your item to make sure you have not missed anything.”
Cost of paying mortgage at 70
By Laura Purkess
TENS of thousands of people face paying off their mortgages well past state pension age after taking out long terms later in life, new data has revealed.
A total of 100,511 borrowers aged 36 or over took out mortgages with terms of 35 years or more between 2018 and September 2024, data obtained from the Financial Conduct Authority shows.
This means they would still be paying off their mortgage into their 70s.
The data, obtained by Quilter and shared exclusively with Sun Money, shows the number of people over 36 signing up to these lengthy terms gradually increased over that period, rising from a low of 5,911 in 2020 to 22,103 between January and September last year.
Experts are now warning that borrowers taking out such long mortgages at an older age risk struggling to keep up with their repayments in retirement.
If you take out an ultra-long mortgage when you’re younger, you have more opportunity to pay down your debt and switch to a shorter term before retirement.
But if you start a new mortgage with a long term later in life, you may not have as much time to improve your finances enough to move to a shorter term.
And you could even end up fixing on to a higher rate. Karen Noye, mortgage expert at Quilter, said: “Retirees on fixed incomes may find it challenging to manage mortgage payments alongside other living costs, particularly if they have not accounted for this in retirement planning.”
Scam warning for jobseekers
JOBSEEKERS have been warned to watch out for scammers preying on them with offers that are too good to be true.
The job market is tough at the moment as employers grapple with rising costs.
Now, according to consumer champion Which?, phoney job ads are being sent via text and WhatsApp in an attempt to lure in desperate jobseekers.
One example is the recruitment impersonation scam. In the con, the scammer lists a recruiters’ number that is actually fake.
You’re then asked to share more details in order to lure you in.
Next is a message from a HR department claiming that you have a perfect CV.
The scam aims to target people who have recently applied for jobs and contains a Whatsapp link to continue the conversation with the scammer.
Job adverts are also being shared on Whatsapp for non-existent roles.
The message typically provides details for a phoney job with an attractive salary and flexible work offer.
In most cases, Which? said these random job scam messages lead to so-called “task scams”, which encourage you to sign up to a dodgy website or app where you can complete tasks for money.
Tricksters will then ask you to pay a fee to upgrade your account.
Lisa Webb, consumer law expert at Which?, said: “Anyone searching for a new opportunity needs to be on the lookout for scammers.
“If you lose any money to a scam, call your bank immediately using the number on the back of your bank card and report it to Action Fraud, or the police.”
