How to pay off debt on a low income

all right in this video we’re gonna talk
a little bit about how you pay off your debt on a low income so when my wife and
I paid off all of our credit cards and car loans and got all that debt paid off
we actually had a really small income but it took us a long time but in this
video I’m dropping you in on an interview I did with a good friend of
mine who actually has a little-known technique that he used to pay off 80
grand of debt in a really short amount of time and this is something I’ve never
heard anyone talk about but I actually think it’s a fantastic way to pay off a
lot of debt and to do it really quickly and as always if you have any ideas
suggestions comments any of the above go ahead and leave them down in the comment section below and I’ll get back to you as soon as I can alright so I don’t
think there’s anything else to add so let’s just get started with the
interview all right hey everybody I have Brian Harris he’s a buddy of mine who lives in Nashville with me here and he’s kind of an awesome online entrepreneur but he and his wife paid off a whole bunch of debt a few years back and they
had kind of a cool way of doing it using eBay and I’ll let him kind of go into
some of those details but I want to bring him on real quick because Brian is
a guy who just really goes after things and I don’t know just really creatively
finds ways to do things on a really powerful level so to speak so I want to
get him on and just kind of share a little bit what he did so without any
further ado Brian thank you so much for taking a few minutes brother yeah thanks
for having me here nobody’s ever talked to me about this topic and it’s actually
one of my favorite things to do we haven’t done any of this stuff in a few
years now as our new business is kind of taken off this is the eBay stuff it’s
kind of taken a sad roll to it but it was really fun we paid off $82,000 and
just under four years was 47 months that’s awesome we did that so and it was
primarily all through buying and selling stuff on eBay so I’ll let you kind of
ask questions to get me wherever you want to guess well let’s start with that
so explain what you did one of the things I talk about a little bit is kind
of this idea of selling junk around your house and and I’ve done that really
successfully and made a lot of different money and you know gotten rid of some
stuff that was just cluttering but you took that to the next level so keen
economics what he did yes so a little back story
so I’ve moved to Nashville this was 2009 I was working the previous five years I
was working in building material cells or as previous seven years so I was
selling at the time if you’re gonna build a house we would be the people
that would sell the wood that you would use to build the house so if you
remember back to 2006 seven eight nine housing kind of sucked
especially in eight and nine like that was when the economy started tanking and things are bad so we me and my wife get married moved to Nashville I couldn’t
find a job in the world I was used to doing so I was online just googled
around I’d heard some people talk about eBay at the time I guess Tim Ferriss his
book it just came out but somehow or another I didn’t see it for years which
would have probably substantially changed things for me had unknown that
world existed at the time so this is very knowing any that lifestyles for any
that stuff existed but so I googled around found one guy named Skip McGrath
which is probably cool to link that up I don’t know if the guy still around I
assume he is and he was selling an e-book for like 15 bucks on a list of
things you could buy yard sales and sell on eBay so I bought the book and
literally just went down the book it was like well I don’t know what this is I
don’t know what this is I don’t care about selling dishes but a few of the
things he had listed was one of the things specifically I remember was like
vintage electronics he said if you had anything that had a 2-minute which means
it was made in late 1960s or so maybe a little bit in the 70s but it was like
really popper there in the 60s that buy it and he gave me kind of a few examples
of things that it sold on eBay like some pictures and stuff so we just went to a
yard sale we’re living in Nashville fortunately and most every top 100 US
city has decent enough yard sales to do this in and if not there’s a few other
things you can do we were live in national which is like a top 25 City and
there’s a few wealthy parts of town so it is drew look looked up there’s a app
called map or Yard Sale Treasure Map also you could use Craigslist and it
just a list out where the yard sales are we drove to them the first one we go to
they have this like it look like the picture at a Skip’s book it was like
this electronics looking dining I’m like whoa that’s like the thing and I
pull up on my phone okay that the thing so go over there I literally
have no idea what it does and I’m like looking at him like well this looks
pretty old I think this could probably work and I asked later so how much do
you want for this she’s like I don’t care just just been sitting in the Attic
just give me five bucks and like okay cool it doesn’t work she’s like I think
so so I just we just buy him I don’t think we even tested him or anything I
wouldn’t even know how to test them and there was like amplifier at the bottom I
don’t know what the middle piece was I remember what it may be a tuners and I
don’t know and the top piece was this little small box called a multiplexer
whatever that is so I go home list them on eBay we paid five bucks for them and
they sold for a little over three hundred dollars and that was like
completely mind-blowing so I then go memorize the holy book by every other
book I could find and then we just start going around to yard sales and buying
and selling stuff and the key for me was because I don’t know what to buy like
that’s I’ve taught a few friends how to do this but a few friends that are like
way bigger junkies in this than we were never and but the problem is like you go
to your zone you have no idea what’s worth something and what isn’t worth
anything and I don’t want to waste a bunch of money or have a garage full of
stuff we’ve had it many times so there’s a you
can download the eBay app and I haven’t haven’t messed with in a while I’m sure
they have newer versions and what they had when we were using it but there’s
and if you go to refining your search so if you if you see something at the yard
sale you’re like oh this kind of looks like it might be worth something just
type in the name of it to eBay search hit enter and then go to refine your results
and choose the completed listings filled now and that’ll just show you what is
actually sold for yeah so like no other search engine no other like you have
like one of the biggest e-commerce platforms in the world will tell you how
much not that people are listing it for because you could list the thing for
five grand that matters none is what is it what do people actually pain you look
at the completed listing is that what people have actually bought it for and
if what they bought it for is less than what you’re gonna buy it for then that’s
how you make money yeah I found now like that now I just have a radar we’ve we
did it for like five years straight so I can go to a yard sale and tell you if
there’s anything worth buying and usually then ten seconds tell you like
what you can make money off just because I’ve done like five thousand
those searches now looked up everything that’s been remotely halfway interesting
to me so now we can except a radar don’t really have to look up stuff although if
there’s something kind of expensive or I get a buddy who went to a yard so this
has been a month or two I guess it was last fall and there was
this pitching machine and he was like my gut just tales and this is worth
something so he looks it up and they were selling it for 200 bucks which is
usually like way more expensive than anything I’ve ever bought at yard sale
usually it’s like yard sale stuff is sub 50 bucks and usually sub ten dollars but
he looked at this pitching machine he saw they were going for a grand and they
had a listed for 200 so we naturally wheels and deals and gets it for like 150
sells it for $1,000 and makes 850 bucks off of it you notice a little shipping
in that kind of thing yeah so it’s actually I told my wife we went yard
sale in this weekend for the first time this season and I told her like I want
to buy something sellin eBay today like I haven’t sold anything with eBay and
forever and we couldn’t find anything we only went to like three or four and the
baby started crying so we’ve kind of bailed out but we’ll usually like if
we’re like hardcore eBay-ing we’ll knock out like 20 to 25 yard sales in a
Saturday we’ll just string them all together on Google Maps and just babe
and you have to get in and out and it’s all about just churning through that you
had to get to the there’s gonna be of the 20 you go to there might be four
with good stuff to buy yeah anyway that’s the overall strategy there’s
plenty of other stuff we can talk about but that’s uh it’s really fun like it’s
just a game yeah well it’s funny you say that
because because yeah so I just did I just finished up another round of eBay
and Craigslist in and just selling off a bunch of stuff around the house we
didn’t need any more and I feel that same way like you know I only sell
things that I’m gonna get a certain amount of value you know it’s like I’m
not gonna waste my time selling something for five bucks on eBay it’s
just not worth my time but but it is fun and it’s fun watching people bid and
it’s fun just kind of watching that price rise especially when you have
something that people are going for so yeah so it’s fun you make some money and
you clear clutter out of your house or in your case you know you turn into a
legitimate business but so okay so let me talk to you about this so you did
this I mean what were you going on Wednesdays and Saturdays there were both
and if you let’s say this is say you go to ten yard sales a week and
you have you know something like this book from Skip McGrath or some other
ebooks where they kind of give you some kind of like head start of what to look
for I mean what how realistic is it to make a few hundred dollars a month doing
this if you flip it on eBay oh I mean if you’re even halfway try and it’s it’s
extremely doable like I mean I had a full-time job at the time I was working
60 hours I got a buddy who’s a CPA currently work 60 hours a week has one
kid with autism and has a new baby he yard sales on the weekend and hits
the thrift store a couple times a week on his way home and I was talking to him
Sunday at church he’s making 1,500 to 2,000 dollars a week extra week a week
on top of what he’s doing now he would be in the if you were like
they have a hard core meter like he would be like the eight or nine out of
ten and he’s been doing it for five years – yeah he’s much better at it than
he used to be but yeah they’re trying to save it to buy a house so he’s just been
killing it like he cranked it up and you know sacrifices his garage and or
something because you got to have depending on how if you just want to
make a couple bucks a month like that’s that’s like buying five or six things I
mean that it does not take much effort at all especially if you live in a top
50 top 100 city if you live off in the middle of the sticks somewhere it’s gonna be a little harder although flea markets buying stuff from other people like
there’s other strategies you can use there the yard sale stuff works less as
you get into more rural areas just because there’s not many of them yeah
but if you live in a top 100 city like ninety percent of the people that are
watching this do because most people live in big cities because that’s where
the people are yeah then you can totally I mean a couple under bucks in a month
would just be easy to do yeah okay absolutely I mean we could if we would
have all like I’m like you like I don’t want to sell stuff for five do I don’t
want to sell 100 things for five dollars I want to sell like three things for 50
bucks apiece that’s generally because I just he I hate all the backend stuff
myself like the packing and shipping and that’s the part I don’t like so I just
don’t want to do a ton of that so I would rather just buy one thing for 15
bucks sell it for 75 and do that three or four times in a weekend but there
would there be times when I mean you can add the stuff up as you go like you pay
ten bucks for it the computer listening is 75 so just come off that a little bit
because whatever the biggest complete of listings was you’re probably not gonna
get that much or but if it sold for 75 you can totally
get 60 50 60 bucks out of it it just add up in your head as you going and
whatever you get so however much you want to make just stop and go sell that
stuff and ship it out what I would discourage people from doing if it’s
your first time ever to kind of get into this don’t go by like a hundred things
at yard sales like go buy five your first time yeah list them ship them get
it done and then then do it again because you don’t want to overwhelm
yourself in a completely can be overwhelming taking the pictures and
writing the listings and processing it and you’re gonna have people that
complain because you’re not gonna do a great job of describing it to begin with
that kind of stuff so just start small but starting small and the stuff could
mean you’ve spending 50 bucks and making 500 bucks I haven’t I’ve done that more
times than I can count buying like one of the big things I look
for two big things that I buy golf bags and luggage really like those just kill
like up one time one time I went to Birmingham we were just visiting friends
and I was doing I was heart we were hardcore and eBay at the time so they
were like hey you gotta go to this thrift store thing like they had a bunch
of golf bags in there and you could bag off bags for 5 10 15 bucks you want to
look for Titleist Ping there’s some other brands those are the two the two
best ones but you can find like old bags old stand bags that like have a
little stand built into them you know those for five or ten bucks and sell
them for 20 30 40 bucks all day long any older like vintage Titleist or there’s a
fear that brands I can’t think about the tough done in a while you look about
when you see a golf bag of yard sale type it in look if it’s done lap or
Wilson it better but just be a really nice one but you can get like 40 year
old Titleist and ping bags and do really well with them anyway so we were in
Birmingham my friends knew I was doing golf bags a lot so go to this thrift
store and they have like 400 golf bags excellent it’s this massive warehouse I
mean this thing is probably a 100,000 square foot warehouse and along the edge
up top of their shelf lining the entire warehouse or all this golf bag and
they’re all these vintage golf bags there’s a bunch of crap in there but I
strike a deal with the owner I was like hey I want about all of them and I’ll
pay you three bucks a golf bag and I was just eyeballing it like I don’t know I
didn’t do the race yeah I was just kind of look walking around like yeah there’s
a bunch of good stuff in here I know the majority of them I could
for probably 20 bucks probably 50 probably 20 or 30% I could sell for 40
to 50 bucks and the rest I’m probably just gonna throw away so we buy them we
paid like 1,200 bucks for 400 golf bags ready to u-haul we filled this entire
u-haul up for golf bags driving back to Nashville and they’re in my garage for
two years finally we finally sold them all but that those were the bane of my
existence that’s why you don’t want to go buy a ton of them the economics on it
work but if you’re doing this part-time you know you have a full-time
job and your wife doesn’t want your garage she actually wants to be able to park in it but don’t go buy 400 golf bags but golf bags work really well old
motorcycle helmets like Google like do to complete a listing search on it but
like there’s several brands that do really well and then luggage does
extremely well like Hartman luggage there’s a few other brands too they’re
like I mean you could found this stuff people just have like their mother
Samsonite stay away from that crap but slightly higher in brands and just if
you don’t know where the high-end brain is just every time you see one search
for it on completed listings and see the Hartman stuff only well pay five ten
bucks for that and some of those sell for a hundred 200 bucks a pop I found
like new Hartman stuff with tags still on it plastic still around it that a guy
was selling we’ve said two or three of these that people were selling for 20 to
50 bucks and they’re I mean they retail in Hartman’s website for two to three
hundred dollars and you can get basically that off eBay for it Wow
those are three things and I look like I just have we were watching TV show that
the day and this lady had luggage it was how to get away with murder
and she had a piece of luggage it was just a prop in the show and I was like
that was Hartman luggage I could see it from all the way up all so many pieces
of that stuff I think we had a Hartman factory here in Nashville so I think
there’s a concentration in up here but but yes so yard sales work well the
other thing is thrift stores if you look in your city this is probably gonna be
your major cities but look and see if you have a goodwill outlet it’s not a
typical Goodwill thrift store but they have an alley they have some here in
Nashville and several other cities I’ve been to where they just back the semi
truck up they unload the stuff into these 10 by 10 bins like Bob have you ever been to one of these before I we had one in St. Louis but I never
went you got to go to this one and it’s on Berry Hill Road and there
is a treason gotta go observe people it’s insane they dump all this stuff
into these bins and I just very loosely sorted between like clothes shoes home
goods and like every other piece of crap you could possibly imagine
and they’ll roll out this gigantic man it’s probably five feet wide about 20
feet long they roll it out and yep like everybody’s aligning the aisles and then
when they lock the wheels into place that lady says it go
and people just converge on this bin and they’re just like digging through like
fine and crap and you pay by the pound like in paper that’s like way your stuff
and you pay for it that’s all kind of stuff there that’s a little harder than
the rush of things to do complete a listing searches so you can just go
around the thing and see but thrift shops are a great place to go just just
get good at seeing what’s in what’s good and what’s not and I’m gonna go to yard
sales that’s by far the best bargains because people just want to get rid of
crap so they’ve done they have no market intelligence at all most of them you
always have your people that are like well I paid $50 for this and I’m gonna
sell it for $45 and I’m you know and just ignore those folks but anyway so
those are a few little tips that kind of come in handy for us all right okay so
really really good okay so you know I’m gonna look up this get McGrath book and
you mentioned the one app what was the name of that app again Yard Sale Treasure Map okay and there might be some other related similar ones now any other kind
of tools or resources or things that you think are helpful I mean obviously the
eBay app which app is I mean that’s that that’s that the eBay app is everything
if nothing else go to the go to your next go to yard sale look up 20 items of
the yard sale and do that for the next three weeks and you’ll be an expert at
it like what’s gonna sell and what’s not and this is about one thing like and
I’ll just do it around your house first actually I like your route of clean up
your house like go around your house at all the random crap in your house and
just look it up a little listen he’s found one thing to sell and sell it this
week like for me when I bought something for $5 soda for 300 even if I have sold
it for a hundred or fifty like like that’s just like that opens your mind
and they’re like this is a legit this isn’t some random dude it works yeah
wait step literally just buy stuff for less than
you’re gonna sell it for and with eBay the nice thing about it versus Amazon or
any of the others they will tell you what people are paying for it which is
like if they didn’t have that like I probably would have never done it
because I wouldn’t have they’ve taken the risk to buy a bunch of crap not
knowing what it would look it for what it’s what what people have actually paid
for it that’s a big big difference between those two things another oh there’s a lady called Lynn Dralle, D-R-A-L-L-E think is her name you can google that
and she has a book on buying and selling or she did at the time has it been five
six years ago she had a book on buying and selling what do you got like plates
and dishes and stuff like that so I thought she was active at the time might
maybe still is and I was following her a little bit and she had this book for
like 50 bucks on like all the dish where to look for so i’m like ah I really don’t wanna sell dishes it’s probably pain to ship but I just bought the thing my
first yard sale paid 50 bucks for the book went to the yard sale bought like I
don’t know probably another $50 of dishes and they were I forget the brand
name now but they’re what they were just like here’s a picture of what to buy go
buy that went to the yard sale bought that and sold it for $200 like just
literally just following and I looked at a complete a listing search to make sure
was a good pattern and all that stuff but I don’t know if I ever sold any more
dishes after that but it just gives it they’re kind of a pain to deal with but a
lot of people like that like she built an entire multiple six-figure business
off buying and selling dishes at yard sales and thrift stores it’s so crazy
auctions are another cool place to go that’s a whole other world but like
I’ve been to three or four live and those are a little harder to do
consistently cuz you got to be there for multiple hours and this kind of paint
but they’re actually they’re kind of fun to get you haven’t been to one before
just go to one and check it out but do the completely listing thing do not go
higher than whatever your threshold is and definitely or higher than what it’s
sold for one eBay already all right brother this is really really good so
thank you for taking some time sharing I appreciate it I’m sure everybody
watching will as well so thanks brother I’d rather see ya see ya alright I hope
you found this helpful and if you did I would love it if you could give us a
thumbs up down below and on this channel we provide practical tips and strategies
to help you put more money in your pocket and then we also discussed
timeless biblical principles on how to actually manage
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subscribe button down below so you can hear from us as we create new content
that’s all you have for now so have a great rest of your day and I will see
you in the next video

42 thoughts on “How to pay off debt on a low income

  • I'm on a fixed income and I get my credit card debt paid off n try at building an emergency fund at same time, and still in debt. I feel like I'm not getting the principle lined up and I'm probably stressing Jesus out, Lol

  • This is all well and good. But eBay used to be a user-friendly website. Back in the day anyway. But now? They have what’s called a “listing-fee” which you have to pay regardless of whether you sell the item. That’s the point where eBay becomes bullshit for me. Fuck listing fees.

  • Bottom line… He figured out a way to generate more income which he dedicated to paying off his debt. Thanks for the information.

  • This is awesome info!!! Thank you sooo much I 've got a bunch of "stuff" to get rid of and the yard sale/Thrift store idea is brilliant.

  • This video was perfect! Thank you for sharing. I learned that you can find objects at yard sales to resale on ebay and it doesn't have to be difficult! Just do your research on what is selling and keep an eye out. This is one of the more successful ways to pay down debt without getting another job away from your family.

  • So I learnt you have to start small and be consistent at it.
    Also it's better to sell 3 stuffs for a higher price than sell a large amounts of stuffs for a lower price

  • This video had some really good ideas on how to make extra income through yard sales, what to look for and how to find out the value of an item through ebay. I had considered this before but felt overwhelmed at what to look for, where to find the best yard sales and doing the homework on items, value etc. Thanks for the great ideas.

  • I watched this video just a week ago and it totally inspired my husband and I to give this a try. We've been binge watching videos of people doing this to learn what to shop for and now we've just started buying and listing our first finds! My husband actually tried this years ago with a friend for a short time so he has some experience but now we're going to try it together and take it more seriously. We were looking for a way to better tackle our debt. Thank you SO much for putting this idea out there – I think I was meant to see it!

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  • This is how I know the value of money is invalid in concerns to the earth.

    Do animals live by money?

    Did the cave people live by money?

    Did money grow from the earth?

    Now. Will all humans end up at the Cemetery?


    So No thanks 🙂 The little bit of debt I do owe will NEVER be repaid.

  • I’ve sold items on eBay before and ran into shipping cost that ate up my profits. What’s the best way to determine how much an item will cost me to ship? Thanks.

  • I have a friend who has filed bankruptcy and is low income. Hardly a high school education. She is constantly going on vacay her house and vehicles are nicer than mine. She is constantly at auctions. This is what she does. This is how she is making more money than a nurse with a college education (me). I think it's worth giving it a shot.

  • On eBay, how do you find out what somebody paid for and object? I bought on eBay, and use PayPal. But I've never sold anything on eBay

  • I've tried this selling stuff and it so was not successful. You may sell it, but if no one wants it, you've not gotten that money you counted on. Lame idea.

  • I can’t understand what he’s saying when he says this one thing. Is he saying look at completed listings? I’ve down loaded the eBay app but when I enter completed listings nothing comes up.

  • This video I truly appreciate, I've been sitting on merchandise in my home and know it could sell. This information is a real good kickstart and a confidence builder.Thank you !!!

  • Thanks Bob, …inspirational for sure. I tried the buy and sell thing in my area and it was really difficult to find things at yard sales and thrift stores. It was taking so much time to look through the junk. The biggest profit I turned was 20 bucks. I guess I gotta drive an hour and 1/2 into a big city (las vegas) to do the buying part. Again, it is such a huge time investment and the gas to drive around.

  • My takeaway from this video is that in order to. Get started selling things on eBay I should download the eBay app and look at things around the house to sell and look them up on the completed listings to fine what they’re selling for and just saw one or two things to get started. That sounds a lot more doable to me then going out to yard sales when I have three kids to take care of it and drag around. Thanks for this video I’m excited to get started!

  • I have bought and sold on eBay & Amazon for over 10 years and I always lose most of the income on shipping what is the secret to cheap shipping?

  • I had a sewing pattern at home that I found out that the pattern was worth 78.00 sold for 31.00. Always check what its selling for listing

  • I am new to your channel, I just subscribed about a half-hour ago. This was the second video I watched and I feel I am learning a lot. Do you think selling on e-bay would help bring down the over $100,000 I am in debt (student loan, mortgage, and credit card debt)?

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