Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 2nd Jun 09, 3:03 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    MONEY MORAL DILEMMA. Would you sell a treasured trinket?
    • #1
    • 2nd Jun 09, 3:03 PM
    MONEY MORAL DILEMMA. Would you sell a treasured trinket? 2nd Jun 09 at 3:03 PM
    Here's this week's hypothetical situation for you to cogitate on:

    Your ‘red letter’ phone bill is due in a few days time and you don’t have the cash available to pay it off. You’ve missed a few payments in the past, and the provider has suggested you may be cut off if you miss any more, so you’re considering selling off a gold watch tucked away in your jewellery box. The watch was given by your aunty/uncle for your 21st birthday but you know it’d clear the debt.

    Would you sell a treasured trinket?


    Click reply to have your say

    This Forum Tip was included in MoneySavingExpert's weekly email

    Don't miss out on new deals, loopholes, and vouchers

    Last edited by Former MSE Dan; 03-06-2009 at 9:02 AM.
Page 1
    • scotsbob
    • By scotsbob 2nd Jun 09, 10:22 PM
    • 4,462 Posts
    • 6,958 Thanks
    scotsbob
    • #2
    • 2nd Jun 09, 10:22 PM
    • #2
    • 2nd Jun 09, 10:22 PM
    Yes I'd sell it, pay off the debt and get a PAYG mobile down the market.
  • Oldernotwiser
    • #3
    • 2nd Jun 09, 10:30 PM
    • #3
    • 2nd Jun 09, 10:30 PM
    Definitely yes; I pawned my engagement ring when I was 18 and short of money so I know that I would do it perfectly happily!
    • Kerilinann
    • By Kerilinann 2nd Jun 09, 11:55 PM
    • 423 Posts
    • 1,417 Thanks
    Kerilinann
    • #4
    • 2nd Jun 09, 11:55 PM
    • #4
    • 2nd Jun 09, 11:55 PM
    Yes. If needs must.

    • babs605
    • By babs605 3rd Jun 09, 1:29 AM
    • 8 Posts
    • 12 Thanks
    babs605
    • #5
    • 3rd Jun 09, 1:29 AM
    • #5
    • 3rd Jun 09, 1:29 AM
    Yes, definitely! If I lost my phone line I'd lose internet access and all your money saving tips!!
  • Stampede
    • #6
    • 3rd Jun 09, 3:12 AM
    • #6
    • 3rd Jun 09, 3:12 AM
    Short answer: No.

    Never having been in a situation where I couldn't handle my debts I am probably not qualified to answer.

    However: I think it is really sad when people feel the only answer is to part with some real treasured item, the greatest value is not the hard cash it releases but the sentiment and circumstances in which it was given and received .. but then I'm a hoarder who still has my 21st birthday cards, the childrens ( now married with children themselves ) cotton wool snowmen , etc. etc. My sentiment includes those TV 'flog it' and 'cash in the attic' type progs. when for a few £'s you see some family treasure being sold off and away from the family. Do they regret it later ?

    So back to the question which seems to mix the options, "No I wouldn't sell it" and I hope I never get that desperate but may be, just maybe pawning would be an option. For those faced with such a situation in real life I hope you have a guardian angel, receive some sound debt resolution advice, and your situation improves.

    Edit: I'm sure when I read the Q in the early hours it included and mixed the options of selling with pawning .. this would appear to be confirmed by the other initial A's. The Q seems to have been clarified since to only pose a Q about selling. I mention this only so our A's (hopefully) made/make sense.

    totally debt free and with enough in the bank for a rainy day
    Last edited by Stampede; 03-06-2009 at 10:32 AM. Reason: initial dilema Q has been modified.
    • hvd201
    • By hvd201 3rd Jun 09, 4:04 AM
    • 685 Posts
    • 744 Thanks
    hvd201
    • #7
    • 3rd Jun 09, 4:04 AM
    • #7
    • 3rd Jun 09, 4:04 AM
    My first reaction would be to put the bill on an interest free credit card or something like that, or organise an overdraft with the bank.
    Then I would get a/another job and consider asking family or the person I racked up the massive bill for a loan or help paying it.
    If it was the choice of either pawning (note the question is pawning, not selling) the watch or losing my phone contract, I would pawn it, use the money to pay off the phone bill and change to PAYG as soon as possible to avoid getting in that situation again or just until I am financially stable and sensible enough to deal with my finances properly and cope with a contract phone. I would then work hard, having learnt from my mistake, to get the money to buy the watch back from the pawnbrokers and never be silly enough to get into that situation again.
    • cw18
    • By cw18 3rd Jun 09, 7:03 AM
    • 7,976 Posts
    • 85,433 Thanks
    cw18
    • #8
    • 3rd Jun 09, 7:03 AM
    • #8
    • 3rd Jun 09, 7:03 AM
    Yes, if it was something given to me from new

    No, if it was something that belonged to a previous generation of the family


    The same holds true for me whether this is about selling or pawning - I'd be too worried about not finding the money to reclaim a family heirloom to pawn it,
    Cheryl
    Groceries : May £11.97 / £120 Apr £137.78 / £100 Mar £99.55 / £100.Feb £85.02 / £80.Jan £112.15 / £130. Annual £446.47 / £1200

    • tallgirld
    • By tallgirld 3rd Jun 09, 7:08 AM
    • 476 Posts
    • 317 Thanks
    tallgirld
    • #9
    • 3rd Jun 09, 7:08 AM
    • #9
    • 3rd Jun 09, 7:08 AM
    NAH!!! I would quite happily pawn it though but there is no way I would sell it.

    I used to pawn jewellery back in the day. Used to cost a fortune though!!!
    • robpw2
    • By robpw2 3rd Jun 09, 7:22 AM
    • 12,647 Posts
    • 26,389 Thanks
    robpw2
    yes if needed i know that most of my family would prefer me to be able to liv without debt rather than keep something for the sake off


    Slimming world start 28/01/2012 starting weight 21st 2.5lb current weight 17st 9-total loss 3st 7.5lb
    Slimmer of the month February , March ,April
    • Phuddles
    • By Phuddles 3rd Jun 09, 7:25 AM
    • 26 Posts
    • 18 Thanks
    Phuddles
    Would you sell????
    No! I have jewellery inherited from my great-aunt and my Mum, some of it valuable, some tat, and still have 99.9% of it. I have given a few small pieces away but don't feel able to sell it. I wear my grandmother's engagement ring most days. I still have my engagement ring, even though I've been divorced for seventeen years, and it doesn't see the light of day. I plan to leave most of it to my baby grand-daughter, or give it to her as she grows up.
    • olliedog
    • By olliedog 3rd Jun 09, 7:55 AM
    • 40 Posts
    • 24 Thanks
    olliedog
    The words that jump out at me are "tucked away in your jewellery box" which says to me, "I never wear it". If I was that much in debt (which I can't envisage myself being) and the watch was not a family heirloom, then yes, I would consider selling, not pawning.
    • MessyMare
    • By MessyMare 3rd Jun 09, 8:46 AM
    • 966 Posts
    • 4,087 Thanks
    MessyMare
    I just couldn't do it...but then I have a sentimental streak a mile long. I'd rather sell everything else I own rather than, say, the ruby and diamond ring from my 18th birthday, or even though I don't wear it, the amber and silver bangle. I'm intending to pass them on....that's how heirlooms get started!
  • loustar0480
    Yes, I'd do it if there wasn't any other way around it!

    My view is, yes, you need to be sensible with your money, budget well and be careful what you sign up for (I've learned those lessons the hard way ) but you can't take it with you! If you owe the money, and the consequences of not paying are bad, then you totally should sell up, pay off, and then check Martins site for better ways of dealing with your money!!!
    • CoopCooper
    • By CoopCooper 3rd Jun 09, 9:26 AM
    • 25 Posts
    • 270 Thanks
    CoopCooper
    No, it's only a phone bill after all.

    I could live without having a landline for several months, yet losing any item of sentimental value would make me feel regret for a lot longer period of time.
  • Tali
    It depends upon whether selling the treasure would solve the problem or just delay it. If I can't afford the phone it would be stupid and pointless to sell the treasure to pay just to postpone the problem until my next bill; if the problem is short-term and this is the only way out, then maybe.
    • Flickering Ember
    • By Flickering Ember 3rd Jun 09, 9:41 AM
    • 11,623 Posts
    • 128,854 Thanks
    Flickering Ember
    The words that jump out at me are "tucked away in your jewellery box" which says to me, "I never wear it". If I was that much in debt (which I can't envisage myself being) and the watch was not a family heirloom, then yes, I would consider selling, not pawning.
    Originally posted by olliedog
    I agree with that. I don't see a landline phone as a necessity so I don't actually use one or have one anyway; I wouldn't mind it being disconnected, personally. However, I wouldn't want a bad credit profile so for that reason, I would want to get it paid off. I'd see if there were other things I could sell, eg old CDs (there are 2 branches of CEX and 2 Cash Converters near me), DVDs etc, and also try getting a Social Fund loan from the DWP first though.
    Flickering Embers grow higher and higher...I need a break and I wanna be a paperback writer!
    • A.Jones
    • By A.Jones 3rd Jun 09, 10:42 AM
    • 506 Posts
    • 441 Thanks
    A.Jones
    If family heirloom, no. If a present, yes. But then, it would not happen to me - we use 18185.
    • Hezzawithkids
    • By Hezzawithkids 3rd Jun 09, 10:53 AM
    • 2,958 Posts
    • 10,736 Thanks
    Hezzawithkids
    Yes, It's been "tucked away" so obviously not being used.
    BUT what to do next time the debts mount up and there's nothing to sell.....???
    £2 Savers Club 2016 #21 £14/£250
    £2 Savers Club 2015 #8 £250£200

    Proud to be an OU graduate

    Life is not about waiting for the storm to pass but learning to dance in the rain
    • Cloudane
    • By Cloudane 3rd Jun 09, 11:02 AM
    • 499 Posts
    • 355 Thanks
    Cloudane
    It depends upon whether selling the treasure would solve the problem or just delay it. If I can't afford the phone it would be stupid and pointless to sell the treasure to pay just to postpone the problem until my next bill; if the problem is short-term and this is the only way out, then maybe.
    Originally posted by Tali
    Yeah, this.

    I like to think that I wouldn't let anything get that far, that there would be other less sentimental things to sell, a part time evening job to make up the money etc etc.

    But if there was no other way and it would result in the end of my hypothetical financial troubles, yes, need's must.

    If it was just one part of underlying financial problems and debts etc then NO, it'd be time to contact the CCCS and see what they advise. Selling the trinket would just delay the inevitable and depress me even more through the loss of a sentimental item.

    Now, best get back to work in case I end up in the same boat
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,831Posts Today

10,075Users online

Martin's Twitter