I have decided to pay off ALL my debt(excepting my mortgage) in 2015. I'm considering selling a LOT of my hunting/fishing gear if I need to to make that happen.
I think its a great idea and did much the same thing, except I didnt hit the gun cabinet as hard as I hit other areas (optics, musical equip, fishing reels, sporting goods, household stuff...)
No new hobby $ unless its funded by selling old/other stuff. Period.
I am still following my plan, and have been making solid gains in debt reduction. I didnt have stupid debt, but I also dont make much and the current climate means I likely wont be seeing big gains. I decided not to pursue a (more lucrative) career change, since i not only love my job but i am rather good at it. So, if I was to stay in a great job that offers mediocre pay, I'd have to be OK with some lifestyle adjustments...
in addition to selling off stuff that was just "stuff", I altered my behaviors as they relate to food/eating and some other habits. THIS is where the greatest gains come from. Phone bill/internet bill/utility, prop taxes, car ins, PMI, cable, lunch, breakfast, beers, booze... refi... There is money to be saved if you change your habits and lifestyle a little.
I am driving a 14 year old car thats paid for, I brown bag it every day, said FU to cable TV of any kind, I shamelessly obtain movies and shows from the net, eat healthy but smart breakfast at home instead of continuing being a regular at 3 local diners, and I basically never buy myself any clothing.
I sold off and continue to sell off stuff I dont use. So yes, I think yours is a good idea so long as its implemented with some wise lifestyle adjustment (above).
Here's some advice- I decided NOT to sell the 03 springfield and some other guns that my dad gave me. I am very glad i didnt.
Good for you, and good luck with it. Just dont sell heirlooms or stuff that has sentiment.
