Americans Have $43 Billion In Cash Hiding In Their Homes From Unused Tech Alone

Americans Have $43 Billion In Cash Hiding In Their Homes From Unused Tech Alone

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ValueWalk

The new year means a fresh start. Whether it’s a new-year-new-you resolution or a Marie Kondo moment to get rid of what no longer brings you joy, a deep purge can be a therapeutic experience to help you reflect and start the new year with a fresh perspective. Q4 2022 hedge fund letters, conferences and more Consideringthe average person has $199 in unused tech items collecting dust at home, this seems like a great opportunity for those looking to make an extra buck in the new year, a trend that’s only increasing in demand. 

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In the past week, searches for “how to make money in 2023” have risen by 130%.Similarly, demand for “side hustle ideas” has increased by 250% in the US alone.

With this in mind, experts at Decluttr reveal their top tips for bringing in some extra cash while decluttering your home.

Post-Holiday Decluttering Tips To Make Extra Cash In 2023

Your unwanted tech is money sitting in your drawer collecting dust. Whether you sell, donate, or recycle, there's value in these gadgets. And the longer you wait, the less valuable they become. Decluttr data revealed that cell phones, computers, tablets, and gaming consoles collectively depreciate by an average of 26% throughout 12 months.

So, how can you make the most out of it while decluttering your home? Here's what experts suggest:

1. No matter how ancient your old tech may seem to you, there’s a chance someone is willing to buy it. Sell unused tech items in good condition on reliable marketplaces such as Decluttr, which gives you an instant valuation and does the rest for you. You could also try selling your old tech through platforms like eBay or Amazon, where you’ll need to write listings, take pictures, negotiate the price, etc., whereas the option above is hassle-free.

1. Donate items to a non-profit organization or thrift store to claim a tax deduction as long they are functional and in good condition. Even older devices that aren't worth much money but can still perform essential activities are suitable for donating. This is a responsible and charitable way to dispose of your old tech.
2. Even if broken, don't throw your old tech in the trash. This contains toxic materials that are harmful to the environment.If selling, trading in, or donating are not options, consider recycling items that you no longer need, such as CDs, DVDs, and electronics. Some e-waste recycling services will take your e-waste for free and even offer pickup.

The One Important Thing To Do Before Selling, Donating, Or Recycling Your Old Tech

Before selling, trading in, or recycling your old tech, it's crucial to erase any personal data to protect your privacy. Perform a factory reset to wipe the devices' storage. This applies especially to phones, tablets, and computers. If your device is broken and you can't perform a factory reset, consider taking it to a local tech repair center that can erase your data before you dispose of it properly.

Liam Howley, Chief Marketing Officer at Decluttr, comments:

“In the past week, we’ve seen the search volume for ‘how to make money in 2023’ surge by 130%. The New Year brings the perfect opportunity to generate additional income while decluttering your home and removing old tech sitting unused in the corner of your drawers or collecting dust in your garage. It’s also a great way to make space for new experiences and opportunities and reduce e-waste.

You might not know it, but you probably have something special in your home that is worth good money. From unwanted iPhones and Samsungs to Nintendo, PlayStation, Xbox games consoles, CDs, DVDs, and Blu-rays, our research suggests you are likely sitting on a few hundred dollars worth of unused gadgets in your home.

If you got shiny new tech and gadgets for the holidays, this is the perfect time to make extra cash and sustainably cut out excess by trading in your unwanted tech items. But you need to be quick as, from what we know, the value will depreciate rapidly.

Decluttr makes this process super easy. You simply tell us what you’re selling, and we’ll give you an instant valuation. Then, pack your items into a box, ship them to us for free, and we’ll pay you when we've processed them (in most cases, this happens the day after your items arrive) - it’s that easy.”

About Decluttr

Decluttr is your one-stop website to buy refurbished tech and trade in the tech you don't need anymore for extra cash. You'll make money, save money and help reduce e-waste too!

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