Real-life MMD: Should I sell gifts for quick cash?

BlueDeb

If you really need the money, then why not explain your situation to your parents and ask if they would mind you selling them. You might be surprised and they may give you their blessing. However, if they would rather you didn't sell them then surely it's better to know this now before you do sell, feel guilty for lying, then run the risk of them finding out and being angry at you later.....

Good luck!

BNT

Should I sell two valuable bracelets given to me as gifts by my parents and pocket the £530 cash to reduce my overdraft, or should I keep hold of them? My parents wouldn't be any the wiser, since I don't really wear them, and I could simply say they are in the bank. But I would feel guilty about lying to them.

The obvious answer, then, is don't lie to them. You get the money you need; you don't get the guilt that goes with lying.

SarahTG

My grandma left me a lot of jewellery that I never wore as it wasn't to my taste. It all got stolen when we were burgled. Taught me a lesson - its only stuff. People (and I include animals in that) are what matter, the rest can be replaced if needed. If you need the money to pay debts, tell your parents and sell the bracelets. Whats the point in keeping things that are never used? 'Never have anything that isn't useful or you don't consider beautiful.'

skylight

I have also sold a gate bracelet that Mum gave me for my 21st. It was broken anyway and has been in the bottom of my jewel box for over 18yrs - it meant little to me as I haven't worn it or even seen it for so long. Now, the gold pen that Dad bought me for my 21st, I lost (or more likely stolen from work). That though was heart-breaking as I used it daily.

I currently have Mums and Dads engagement rings that I am considering selling. I say considering as I have been thinking about it for months and as I havent gotten round to it yet, its unlikely that I will ever sell them as they obviously mean more to me than I think they do! They divorced over 25yrs ago after an unhappy marriage and like the bracelet, the rings are sat in the jewel box and will never be worn again (Mums is damaged slightly anyway with stones missing).

pixiewolfe

I have sold several "gift" my family have given me, or given them away, or used as a present for someone else (With their knowledge). Don't feel guilty. Memories mean more then items and if you don't use them, give them to someone who will love them.
I would tell them though, it is nice to be honest and it will stop you feeling like a villain over the issue.

tgroom57

At least give your parents 'first refusal' at the price you say you can get. (£530)

I am guessing that the bracelets cost or are worth substantially more, and that you would be selling them to a dealer.

Plus, if you think a £530 overdraft is the worst that can happen to you in life then you haven't lived. Save them as a last resort for something DIRE.

happyinflorida

Is any of the bank overdraft due to charges etc that are unfair? If so, write and complain to the bank first and ask for them all to be refunded.

If you can, I'd discuss this with your parents - they may prefer to give you the money to buy them back if they like them and would like to "own" them - your mum might love to wear them unlike you!

Learn from this and never, ever get overdrawn again - interest payments are the same as pouring money down the drain IMO.

Your parents may even just lend you the money - without charging you interest - to pay off your whole overdraft.

Cut down your spending - if you can. Cancel expensive mobile phone contract/s when they come up for renewal and stick to a PAYG phone for emergency calls only.

List all your monthly outgoings - what can you live without? Cancel those you can. Change others to reduce outgoings.

Food - another big outgoing for many - you must cut down or change to cheaper whilst in debt, never mind what you believe in, getting rid of your debt comes first.

If you feel suicidal - see your GP - get help. Don't keep it all to yourself - you are worth something, you are loved by someone - even if you don't think you are - talk or email samaritans if that would be ok for you, just DO NOT do nothing. You are worth saving, I think you are and I don't even know you!

joehoover

I'd mention it to them, at least it could also save them buying things not to your taste in the future.

But you should look at other ways rather than a fire sale to save £500, it can be easily done, just read this site in more detail, it may save you selling things that may have more emotional attachment than things that don't.

Compared to most people's debts, £500 is nothing and you could claw that back with a bit of research and planning.

Can you do some overtime at work?
Cat back on some food shopping and meal plan form what you already have in the freezer and cupboards, I did that this week and saved spending £40 on a weekly shop.
Sell anything on Amazon, cheaper than other sellers so it sells quickly and you only pay when it sells unlike Ebay. I made £700 on CD's in a couple of months, more hassle than using something like Music Magpie, but I made 10 times the amount they offered me.

iclayt

I would say "Mum, can I talk to you? I'm really struggling for cash at the moment and I have an ovedraft I need to pay off as a priority. I've sold as much excess stuff around the house as I can but I'm still short about £500. I think I might need to sell those bracelets you bought me once. I'm really sorry but I just wanted to let you know in case you thought I was just flogging them for no reason".

Bit of luck she might hand over the £530 for you herself. Worse case scenario is she gets a bit huffy that you're selling a gift, but at least your conscience is clear and you're not lying about them.

Barryfan

I'm a mum of two. If I gave my girls presents but they needed the money then I would gladly agree to them selling. I would like to think they would tell me about it first though!