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6 Tips to Make the Most of Your Used Gadgets

6 Tips to Make the Most of Your Used Gadgets

The new iPhone 7 has been available for less than four months, and already the web is aflutter with speculation and leaks about the next generation of iPhones. In a world of planned obsolescence for all the tech gadgets that seem vital to our everyday pursuits, it comes as no surprise that pretty much everyone has a few hundred dollars worth of “outdated” electronics lying around.

There’s good news for anyone looking to sell their older model devices for some cold hard cash. An ever-growing market of secondary and refurbished devices means it’s become easier and easier for people to sell older models they no longer need either via trade-in websites like Stopoint and Amazon or via classified portals like Craiglist or eBay. But with so many retailers, businesses, and independent sales platforms, what’s the best way to get the most money out of that old smartphone? Here are six tips for maximizing the trade-in or resale value of your used gadgets and devices.

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1. Looks Matter

Your scratched up device isn’t going to fetch a great price on the resale market, even if it works like brand spanking new on the inside. While some normal wear and tear is expected, the better your device looks, the more value it will have. Think of it in terms of Amazon ratings. Is your device Like New, Very Good, Good, or Barely Acceptable? That’s why it’s smart to invest in some quality cases for your device. Go for durability and function, not aesthetics. That clear PCU case with the floral print might look pretty, but it’s not doing much to preserve the pristine shell of your phone or tablet, nor will it prevent a giant crack on the screen from an accidental drop. Make sure the protective covering you choose protects against scratches, falls, and water to minimize wear and tear.

2. Keep All Original Packaging

Speaking of looks, making sure you have the original box, instructions, dongles and accessories can increase the value if you decide to sell it to a private third party. It just provides more reassurance to them that the product was taken care of, and it feels more legitimate. If you don’t have any of the original packaging, fear not, as there are plenty of websites who buy used devices as-is for recycling purposes.

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3. What’s on the Inside Counts Too

Just in case you thought a pretty face was all you needed, the inside of your device matters too in terms of resale. Always keep your operating systems up to date, with the latest patches and improvements. Any hacks or viruses can damage the internal specs of the devices and seriously diminish resale value. If you can, avoid jailbreaking or hardware modifications that can compromise the internal hardware and software. If you have the technical know-how, return your device to its original factory settings before attempting to sell it – it can give it a little performance and value boost while simultaneously mitigating any concerns about personal data on your device.

4. Keep Up with Routine Maintenance

Oil, dust, and other microparticles will invariably collect on or in your device. Even a regular wipe down with a microfiber cloth is better than nothing. Regular battery and hardware checks are also essential to ensure your device is in the best condition it can be when you choose to sell. And always keep your device away from extreme weather and temperature conditions to avoid premature deterioration. If your device allows for modifications to change the battery or other hardware, doing so may bring in more value than selling it as is.

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5. Timing Is Crucial

Know when to sell. The value of a used product diminishes each time a new model is out. In some instances, it’s possible to upgrade with minimal cost if you know when to sell and where to sell. For instance, if a new iPhone model is set to be announced in October, aim to sell your current model before the new model hits the retail stores; there may be a rush of people trying to sell once the new model is available, driving down prices.

6. Choosing the Right Channel to Sell

While it might be tempting to list your items on eBay or Craigslist, be careful when calculating the resale value of your items. Many sites that allow you to list your own products will take a portion of the selling price, not to mention transaction fees from credit cards or PayPal. There is also a greater risk of getting scammed out of your items by shady buyers. Retailers will often have trade-in programs, but those tend to offer lower value than independent trade-in sites (and depending on the condition of your item, some will offer you no money at all, simply a free “recycle” service). Fortunately, there are trustworthy third party websites that are likely able to offer the best resale value for your device without the risk and hassle of listing it yourself. Shop around and look for ones that match competitor quotes for the best deals on your used device.

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Featured photo credit: Pixabay via pixabay.com

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Hira Saeed

Startup Evangelist

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Published on January 15, 2020

9 Millionaire Success Habits That Will Inspire Your Life

9 Millionaire Success Habits That Will Inspire Your Life

As technology evolves and information becomes more accessible, it has also become more challenging to define success. A lot of people are trapped in the rat race while trying to discover the actual formula for success.

You could become overwhelmed with what tools, techniques or philosophies to imbibe while trying to get tips over the internet. At every click and turn, there are ‘how-tos and quick-fix’ on how to become successful overnight. You will find several courses, articles, videos and books on how to achieve financial success.

But what if I tell you it doesn’t have to be complicated as people made it out to be? What if you could achieve success by merely following these 9 millionaire success habits?

1. Read for Personal Development

A daily habit I have discovered millionaire share in common is reading. For instance, if you are an entrepreneur, you need to read to become an efficient leader and a productive business owner. Reading helps you to grow and learn without going to a business school.

A research conducted by Thomas Crowley indicates about 85% of self-made millionaires read at least two or more books each month. [1] Warren Buffett is one of these examples. He spends 80% of his day reading. In the early days of his investment career, he would read 600 to 1000 pages in a single day.

While millionaires sometimes read for pleasure, they also learn to improve themselves. They read topics on leadership, how-tos, self-help, biographies, lifehacks and also follow current events.

2. Establish Multiple Sources of Income

Another success habit I noticed about success is that they don’t depend on a single income source. Every millionaire possesses multiple sources of income. This helps them to manage economic challenges and also make more money.

They are passive income addicts. They earn interests from loans, rental income from real estate, royalties from intellectual properties, dividends from investments. They also launch a side business or run a website or sell information products.

How income is made either passively or actively is what separates the successful from the wannabes. They are always learning ways to build multiple streams of income.

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3. Live on a Stipulated Monthly Budget

An average millionaire does not believe in luck and jackpot. They take the time to understand cashflow-income and expenses. Based on this, they establish a monthly budget and religiously stick to it.

The essence of the budget is to minimize unnecessary expenses. This will help you gain complete control of your financial life. Budgeting helps you to avoid overspending to achieve your financial goals. Here’re some tips to help you stuck to your budget: 32 Hacks for Sticking to Your Budget

4. Manage and Maximize Money

The most significant education for a millionaire is financial intelligence. Nobody attains financial freedom without gaining financial intelligence. This is the more reason millionaire regardless of their income update their knowledge about tax strategies.

They always seek to reduce their tax bills. One approach they employ is by living or incorporating their business in states with no income tax.

Do you know that about 60 companies paid $0 legally in the 2018 tax year? Some of these companies that ‘avoided'(note: not evaded) federal income tax include Chevron, Amazon, Halliburton, General Motors, Delta. The total income. Their total US income was totaled at $79 billion with an effective tax rate of -5%.

What’s the deal? They got a tax refund. How do they accomplish these?

An ITEP report indicated that they have the culture of throwing huge sums at tax experts who assist them in discovering creative, as well as convoluted means of paying little tax as much as possible. [2]

5. Avoid Debt

Another habit that separates the millionaires from the rest of the world is how they manage debt.

They don’t live an extravagant lifestyle and only buy what they need and can pay for. They do not book hotels and flights by using their credit cards to pay for them.

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They are conscious of the interest rates even when they use credits cards or take loans. They use those facilities for their advantage or pay with cash because of its zero percent interest rate.

6. Set Daily Goals

It does not matter if they are setting business, career, or financial projections; they have the success habit of setting short term goals. They plan daily and weekly to generate momentum in achieving their long-term goals.

Ensure you prioritize when setting daily goals. This will help you to achieve the most important to-dos on your list.

Setting priorities will help you to focus on highly rewarding activities. If you desire financial freedom, it is wise to pursue activities that earn you thousands of dollars than hundreds of dollars.

7. Don’t Act Rich

The goal is not to act rich but to be productive. Interestingly, Thomas Stanley buttressed this in his book that the most prestige brands of cars, about 86% percent are toys of the non-millionaires. People with huge fortunes tend to drive exotic cars but in reality, the largest consumers of pricey cars are aspirational. [3]

According to findings by Experian Automotive Researchers, 61% of individuals who earn $250,000 or more rarely buy luxury brands. Instead, they buy Hondas, Toyotas, and Fords like the rest of the world. The reason is they are not ready to spend money on premium cars that tend to drop in value in a couple of years as it would cost money. Millionaires invest in assets that appreciate. [4]

8. Own or Buy Businesses

In Robert Kiyosaki’s cashflow quadrant, he divided how you earn income into four quadrants. The E and the S quadrants take the left position while the B and the I are on the right side. According to Robert, it is possible to be on all quadrants, but the millionaires are not.[5]

  • E stands for employee – they work for others
  • S stands for self-employed – they work for themselves
  • B stands for a Business owner- employees work for them (500 or more employees)
  • I stand for Investors – Money work for them like Warren Buffet.

Your goal is to move from the left quadrant to the right quadrants where you own big businesses or make money work for you.

It is possible to become financially successful by pursuing what you love. For instance, if you love writing, aspire to be the best seller. Wealth and passion work together.

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9. Avoid Get-Rick-Quick Scheme

A millionaire holds patience as an essential virtue. It takes patience to become successful, not only in finance but in every aspect of life. While it is possible to become financially successful at an early age, most millionaires hit it at age 50. They live a moderate life, invest in their future and retire rich.

Bonus: How Can You Develop the Millionaire Success Habits?

Having learned these habits, the next question is,

How can I develop the Millionaire Success habits?

Here are six values you will need to develop:

Establish Your Life Vision

You need to be clear about what you want in life to set yourself for a life of success. Your vision has to go beyond becoming a millionaire to understanding why you want to become one. Any great entrepreneur you will ever find has a clear vision and an established mission.

Understanding why you are doing what you do will drive you to become the kind of successful person you want to be.

Make Your Passion a Profession

When your passion becomes your profession, work becomes pleasurable. Loving what you do enables money to flow to you and through you.

So what’s going to be? Wake up every morning by speaking positive words into your work, love what you do, and focus on the work that brings you joy.

Take a look at this article and learn how to make it happen: 5 Steps To Turn Your Passion Into A Career

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Focus on Solution

Focusing on the solution means establishing the problem that you or your business address. This will help you focus on the solutions when others are faced with challenges.

A millionaire has a mindset that is fixed on the solution. He or she knows there’s a way out, and that every problem is an opportunity in disguise.

Improve your problem solving skills with these tips: 6 Effective Ways to Enhance Your Problem Solving Skills

Develop Your Leadership Skills

Leadership skills are an asset that is indispensable if you want to develop a millionaire success habit. The more you hone your leadership skills, the more you will attract leaders who share your values.

Be Growth-Focused

Millionaire entrepreneurs prioritize self-improvement. Here’s how to achieve it:

  • Get a coach. Coaching will impact your life, and you will achieve peak performance in life and business when you have a life coach.
  • Be coachable. It is not enough to have a coach; you must be coachable. Sometimes, you need feedback and counsel to reposition your life and business. A coach has the wisdom and experience to counsel you from a higher perspective. The more you receive feedback and work on yourself, the more you become better at what you do and who you are.

Flip Your Thought Pattern From Acting To Being

It is not enough to have a millionaire success habit, you must also become a person of positive influence. This is how you can become significant. Bill Gates is not only rich; he is changing lives in Africa and different parts of the world.

If you want to become successful, you must first be and think like a successful person. This is how resources you need can flow into your life.

Here’s a final thought from me:

It is not enough to do something to have something; success is about being someone who possesses what is needed to take positive and inspired actions.

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Featured photo credit: Austin Distel via unsplash.com

Reference

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