I see a lot of personal finance bloggers talk about side hustles. This is just a “cool” way to say make some extra cash on the side. People do all sorts of things (monetize their blogs, complete surveys, drive Uber, rent out their home on AirBnB, etc. I don’t really have the desire or time right now to worry about anything like that – however one thing I can get behind is getting rid of the clutter in my house and selling some of the things I’ve accumulated over the years that I really have no need for.
I’ve always been somewhat of a collector, everything from comics, to hockey cards, to coins, and memorabilia. I realized I have a lot of sports memorabilia, and now that we moved I am not sure if I will ever hang any of it up. At our old place I had the basement walls full of things – however we recently moved and the rec room in the new house doesn’t really suit a “man cave”. One day I may redo the basement into a bit of a man cave – but probably not…so in the meantime I have a few cool items that are just collecting dust. I decided to list one of my more unique pieces for sale since it was literally sitting a closet collecting dust. It was a game worn NHL All star Jersey which I had won in a sports auction by our local team. The team said the prize was valued at $2700 although I knew i wouldn’t get that. I listed it on Kijiji and a Facebook group and within 3 days had about 10 offers. I finally ended up settling on an offer for $1250 to a local collector.
Here is a picture of me wearing the Jersey the day I won it:
I felt a little bad about losing the jersey – but thought to myself in the 3 years that I’ve had it – I’ve probably looked at it 5 times. In the end – I am really happy with the decision and the next day I transferred the proceeds into my TFSA and made a new purchase!
I was debating between the following stocks: (all which have been on my watchlist for some time)
Andrew Peller, Cascades, Interrent Reit, Northview Apartment Reit, Caledonia Mining.
I looked at each of them again today – but ended up deciding against all of them (mainly due to the fact I wouldn’t have enough to drip a full share of any of them). I decided to start looking at some of my current holdings to see if any were at a price I felt comfortable adding to (and would put me in a position to drip more shares). I eventually narrowed it down to Western Forest, Algonquin Power & Power Corp of Canada.
In the end I settled on ol’ faithful Algonquin Power. I was able to add 98 shares – which means I should now drip 10 full shares each quarter. This purchase will add $57.10 to my annual dividend income (based on the current exchange rate).
I am not sure if or when I will list anything else for sale – but it definitely feels good to get something out of the house that we weren’t using and be able to to put the proceeds to work for us.
PS — Happy valentine’s day. Go get laid!