Pop quiz – You know things are bad when the current financial crisis:

a) Has its own Wikipedia entry
b) Causes the Dow Jones to fall by nearly 50% in a single year
c) Necessitates several ‘bailout’ packages that have now ballooned to well over $3 trillion, or more than the combined GDP of Canada, Mexico and Australia
d) Ushers in the biggest global recession since the Great Depression
e) All of the above

If you don’t have time to read every article in the carnival (there’s a lot) you can just browse through this list of too-good-too-miss posts I’ve carefully selected for ya’all:

• Money Under 30 has a post on quarterly estimated tax payments.
• Investing in your Future has a post detailing a few ways to put some extra cash in your wallet.
• Destroy Debt explains the difference between Chapter 7 and Chaper 11 bankruptcy.
• Money Answer Guy answers the eternal question of whether you should rent or buy a house
• Discover Debt Freedom tells you how to correct a credit history error in 5 simple steps.
• Budgets are Sexy has a piece on why you should think of saving as just like paying an extra bill.

Carnival of Personal Finance #176 at Master Your Card was created by and is property of American Consumer News.

Here are some tips to help you profit from a successful yard sale of your own.

Start Collecting Early

It can be very overwhelming to find all your “unnecessaries” in one day. If you know you have a houseful of goods you want to get rid of, start by putting a collection box on each floor of your home. As you go about your daily activities, you can gather things you come across and toss them into the box over the course of a few days or weeks. As the boxes get full, you should start sorting items and price them. If you have to sort and price everything you have collected at one time, you will become frustrated and lose your enthusiasm. Being able to work with an individual box at a time, will help your sort and price more accurately, instead of slapping on a sticker just to get the job done. After your sale, keep leaving a box for collection so you get in the habit of clearing out the clutter all year long.

Price Reasonably

People shop yard sales to get a bargain and many hard-core shoppers will be expecting reasonable prices on your goods or they will simply walk away. You could get a good idea by visiting a yard sale prior to your own sale and get ideas of how others host the sale. It is important that every individual item have a prominently displayed price. People want to know right away how much an item is. If things are not marked, shoppers tend to lose interest quickly. A general rule of thumb is to price items at ¼ of the retail price. Depending on the condition of the item, you may be able to ask for more or less than that guideline. Items that still have a price tag secured will also be of interest – especially when people can see the bargain they are getting, they are more inclined to buy.

Clean Up Your Junk

While many of your items may be pulled from years of storage, you’ll be able to get better prices for things that are cleaned and in good condition. Just throwing dusty, dirty items on a broken table will not generate sales. People will judge your presentation. If they feel your items are dirty or hard to sort through, they most likely will leave without browsing.

Have Change

Die-hard shoppers will be out early looking for bargains. If you are their first stop of the day, you better be able to make change. If you price in increments of $.25, it will much easier to make change. Have plenty of dollar bills and a few rolls of quarters to last throughout the day.

Be Clear With Signage

Making posters and other on-site advertisements will help attract attention. If your home is located off the beaten path, place posters on poles on your road and tie helium balloons out front so people can identify your sale right away. Many shoppers will not waste time and gas looking for your sale and will move on to the next address. Make signs for your tables to help people get a good overview of what items you have for sale. Display everything in plain site and limit the amount of piles they need to paw through. If you have clothing, hang them neatly if possible or separate clothing in boxes marked with the size and gender of the clothing. Use tables to display items as some people won’t bother to bend down to search through items on the ground. If you are selling furniture or big ticket items, put them closer to the road to attract attention.

Advertising

In addition to the signage placed around your sale, it is also important to advertise in a local newspaper. Many communities offer a yard sale section in the classifieds. Advertise a few days in advance of the sale so shoppers have time to plan a route.

Pay Attention

While you may have to sit in the yard all day to accommodate people, there will be down periods and it can get boring. It is important to always maintain a presence on-site so shoppers won’t be waiting around for help. Pack up a cooler with drinks and snacks and have a buddy help you out through the day for company and potty breaks.

Make it a Family Affair

Hosting a yard sale is time-consuming. Ask friends and family to bring along some of their stuff and make it a multi-family sale. Often, those bigger sales attract more attention. Plus you have time to catch up during the slow periods. Price merchandise with your initials and track who sold what. Or just split the profits equally.

Finish Out the Day

If you didn’t set a time to end the sale, make sure when you have decided the sale is over that your take down all of your signs and put away your sale items. If you don’t, you may find people knocking on your door during the evening, looking for a sale, while you are busy counting your cash.

Cash In On Your Junk: How to Have a Successful Yard Sale was created by and is property of American Consumer News.