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Investing Your Money Properly

I still remember the first bad financial decision I ever made. My seven-year-old buddy told me that if I lent him a few dollars, he would pay me back ten a few weeks later. Unfortunately, he forgot all about his debt, and I was left without my allowance. Although it might seem like a silly example, bad financial decisions like that one plague adults everyday. I have had my fair share, and so I decided to create a blog dedicated to helping you to invest your money properly. Before you take your hard-earned money and throw it at a cause, think about the advice on my website to make a great decision.

Investing Your Money Properly

3 Questions To Ask Yourself Before You Sell To A Pawn Shop

by Penny Evans

Pawnshops dot the American landscape for good reason — they're a time-honored way of getting quick cash for sold or loaned items, as well as a fascinating treasure trove of affordable, interesting items for shoppers to peruse. If you find yourself in a financial pinch and need to turn things around as rapidly as possible, or if you just want to sell some unwanted items without a hassle, local pawnshops can help you stabilize your situation. Before you leap into an agreement with your neighborhood pawnbroker, however, you'll want to ask yourself the following three questions.

Which of Your Items Will Be Considered "Hot Sellers?"

The more attractive your items are to local pawnshops (and their customers), the more likely you are to command a solid price for them. Some of these items take the form of flashy but functional devices that everybody loves and needs, such as TVs and stereo systems. Antique furniture or other goods can fetch especially good prices at a pawnshop. Jewelry is yet another category that you'll want to sell at a pawnshop rather than a more commodity-driven platform such as Craigslist. Of course, you'll have to get those items appraised by a reputable professional first so you know what they're truly worth.

Should You Sell Gold or Silver at a Pawnshop?

If you have gold or silver items that you want to trade for quick cash, you may have noticed "We Buy Gold" signs at local stores that specialize in metal purchases. Unfortunately, you're not likely to get what your gold or silver items are actually worth at these places. Gold and silver sellers typically price your items based on their "penny weight," or melt value — the value of the raw metal once it has been melted down for scrap. The appraisal value of the item itself, however, may be much higher. Local pawnshops will almost certainly give you a better deal, even on the melt value on your items, than a "We Buy Gold" store.

Could You Manage with a Pawn Loan Instead of an Outright Sale?

Do you need a financial boost for only a short period of time? Would you like to have that treasured item back in your possession once your rough patch has passed? If so, you may prefer a pawn loan to an outright sale. In a pawn loan, you hand the item over to the pawnshop as security on a loan,  the amount of which is based on a percentage of the item's agreed-on value. You'll typically have 30 days to pay back the loan (and any associated fees) and reclaim your item. You may also have the option of renewing the loan period as needed. If you change your mind about reclaiming the item or you simply fail to repay the loan, the pawnshop is at liberty to sell your item.

Selling to a pawnshop has its benefits and advantages — as long as you know how to make those benefits and advantages work for you. Research your items' value and consult several local pawnshops to ensure the best results.