Would you sell everything to be debt-free?

**Surilda** · 08-20-2009, 01:23 PM

Well, except for heirlooms and things of that nature.

I have been doing alot of reading on this subject and was
surprised to see how many people would and have done this.

I look around my little house and see things that I know
would sell well on ebay. Things that are close to my heart,
yet with no sentimental attachment.

Some people have sold everything they own, and in essence,
started over, paying cash for everything. That was possible
as they no longer had debt.

It has made me start to reasses what is important in my life.
Thinking about how I would feel to give up things I love,
but knowing also that debt brings a heavy heart and takes
joy out of your life.

Thoughts?

**annymoll** · 08-20-2009, 01:43 PM

No, I would not sell everything to be debt free. I do not have an unhappy heart because we have debt, nor has it affected my joy. We have one debt. It is a 640 acre farm that we bought this year, after being debt free. I am glad we did it. It will help with our tax situation, and in 5 years be paid for.So it has lifted my spirits. No, I would not sell everything.Now, if my DH came home one day and said that he was quitting work, or cutting his hours so he could go off and find his self or to meditate on life.... well then yes. I would sell everything.

**semo_mom** · 08-20-2009, 01:47 PM

Even though we have alot of debt, no I wouldn't sell everything.

I'd just get into debt again buying all those things yet again.

**Greebo** · 08-20-2009, 02:25 PM

We wouldn't sell everything - and we didn't. We did not sell our cars, even though we bought them new, because the debt on the cars was less than 1/2 our total annual income. We did not sell our investment property, because doing so would have meant taking a huge loss in value, and even though at the time it wasn't, and we had to carry it for 9 months as we renovated, today it generates a net profit.

Now had I lost my income? We'd have been selling everything. The dogs would have been amazed at how much more room they had indoors to run around - right up until we sold them too.

Ok --- maybe not the dogs...

**2ndGenGranola** · 08-20-2009, 02:26 PM

No. Most of our stuff is hand me down and did not contribute to our debt(our debt came though illness/injury). It brings far more in terms of usefulness and joy than it would ever bring in money.

ex: our "good" TV attracts teenagers. They stand and laugh at it. It is older than they are.

**geckoace** · 08-20-2009, 02:40 PM

I don't know that anyone would buy this junk LOL

**Michelle68** · 08-20-2009, 03:38 PM

Originally Posted by geckoace

I don't know that anyone would buy this junk LOL

Now that was funny!

Our only debt is our house, and it's not that much anyway. (As far as house debt goes.) I don't see us selling everything or having to sell everything to get out of debt, but more power to those who do what they feel they have to do to make their situation better.

**CouponShelle** · 08-20-2009, 04:25 PM

I have been thinking the same thing lately. We have STUFF, lots of stuff, lots of clothes/shoes/stuff. I have recently started selling stuff on eBay but find that I am attached to some stuff. For example, I bought a cute, black Under Armour watch about 8 months ago. I figured it was good for me or great for a gift for my SIL for xmas. I still have it, still have it in the box with tags. I SHOULD sell it but I'm attached.

To a watch....
that I don't wear....
That still has the tags on it.....

and is not an heirloom. Silly. I need therapy.

**danni** · 08-20-2009, 04:39 PM

I wouldn't sell everything, but we are selling alot of our stuuf. The last couple months we have been reassessing our lives and where we want to be. Within the next 2 years we want to buy property, build our off grid home and work on becoming more self sufficient. Alot of our stuff is not things we will need or want in that venture so we are looking for alternatives or doing without as we sell the stuff. It is actually a very freeing feeling to have the clutter gone and to really realize what is a need versus what is a want.

**AmyBoz** · 08-20-2009, 04:43 PM

I'm not sentimental about "stuff" at all. I'd sell just about anything that wasn't nailed down if we were in a serious financial situation.

**pollypurebred39** · 08-20-2009, 05:11 PM

Our debt also comes from illness and not from trying to keep up with the Jones, so not much good stuff to sell.

When my husband got laid off and it became apparent it was not seasonal we did have several yard sales selling everything worth selling almost. Found that would have done better giving it away for a tax write off then we ever got from selling anything. People want bargins, no actually they want you to give stuff away, at least around here they did. Our yard sales were giant duds. Not sorry the stuff is gone, more sorry that were just didn't get a tax write off for it all instead of letting people cart away our things for pennies on the dollar. It would have been a lot less work too! Anything that leaves our house now is a tax write off, with the exception of some very old, very pricey glassware that is not selling right now in this depressed market. That stays until it can be sold at a fair price, we've had enough being taken advantage of by the scavangers out there who like to pray on the misfortune of others saying things like I'll give you 50 cents for a hundred dollar item only marked twenty to begin with, thinking your so down and out you'll take it. Had one women walk around our yard sale and gather up stuff tagged for about fifty dollars (very fairy I might add, it was worth at least 2 hundred) and offer us less then a dollar for it!

Bottom line, yes we would sell what what we had to to survive. Would we sell everything to get out of debt quicker, no. Not worth it. Not much to really sell in the first place so it would not even begin to make a dent in our debt.

**dmarie** · 08-20-2009, 05:55 PM

To sell everything and start new would be welcoming but it always doesn't happen in a postive way. My parents over 25 yrs ago on horrible advice from a family member moved from flordia to washington state and sold everything. They never were able to replace everything and still went in debt to replace things.

**MommyBliss** · 08-20-2009, 06:06 PM

I can look around my house and see a few things I would sell, but honestly, I wouldn't part with that much. I've decluttered our house a lot in the last 2 years and we are really down to things we love. I've worked hard on creating a home my family can find inviting and cozy and surrounding ourselves with things we love. Photos, a few pieces of artwork that have meaning to us, but we have gotten rid of quite a bit excess items. The furniture we have we need and I wouldn't sell my children's things.

**FrugalMomof3** · 08-20-2009, 06:17 PM

I wouldnt sell everything but I am sure there are a lot of things that could go to help become debt free. I know it wouldnt pay off the house but it would pay off a lot of other things including our CC debt and medical debt.

**frugalfranny** · 08-20-2009, 06:42 PM

If I was in dire finanacial straits.....sure I would sell 'almost' everything........not my car and the dogs..........the rest? Well....I always say everything here has a price. Would I sell it for 'pennies on the dollar"?....no......that is the reason I am still in this house.