Oh, the pain!

climbgirl

This is probably going to go against the grain a bit, but I'd be wary of selling off things that mean a lot or have cost a lot to build up over time just to clear the debts a bit quicker.

If you're struggling to pay debts, fine, sell what you can. But if you're just looking to be debt free a bit more quickly, is it really worth it?

Chances are you are going to get a fraction of what you actually paid for the stuff, and if it's something that has real sentimental value and you're going to replace it in the future after the debts have been cleared like some people have said, well then you're just going to lose money in the long run. It makes more financial sense to hang onto it...

Selling something like a computer and rebuying a better model in the future makes sense, but I'd think long and hard before selling off a 15 year cd collection for instance...

All personal choice of course, but don't rush into anything!

lynzpower

Agreed there Climbgirl

My OH is trying to flog off some of his vinyl collection and theres bits going for £1 on ebay. I said, its not THAT bad, dont sell the ones you ACTUALLY LIKE... we can eat, we cun pay the rent, the rest doesnt matter. We are not yet that desperate and I dont think we will be in the future as things are getting much better.