1 February

Pay Your Bills in Cash

As January comes to a close and February begins, the bills start pouring into your inbox, you may find yourself looking for ways to free up your cash flow to meet all your account payments. 2017 brings the excitement and promise of a New Year, but it also brings an increase in the cost of living.

In your mind, you have explored every possible solution to meeting your monthly payments, but have you considered the old jewellery lying in your jewellery box? Precious metals like Silver and Gold possess inherent value and can fetch handsome prices when sold to a reputable Bullion Specialist.

The price of both Gold and Silver is set on a daily basis since they are linked to the commodities market. Today*, 1 gram of 18 carat gold will fetch close to R400. For example, a single earring can weigh between two and five grams. Given the price of R380 per gram of 18 carat Gold, you could walk away with between R760 and R1,900. That’s great value for something that you can’t wear anymore because the partner earring has been lost. Throw in a 9 carat Gold chain that is broken and weighs between seven and eleven grams, based on today’s price* of R190 per gram of 9 carat Gold, that would be an addition of between R1,330 and R2,090. A handsome contribution towards those outstanding bills.

Of course, the worth of your Gold or Silver is dependent on the purity and the weight of your jewellery, and you will need to consult with a specialist in order to ascertain the real value of your old jewellery that is just lying in your drawer or jewellery box.

Reasons why you would sell your old jewellery:

  1. It might be too expensive to fix: The cost to repair broken jewellery is often more expensive than buying a new piece, for example, a broken chain in which all the links of the chain have worn down.
  2. You don’t wear it: You may be too scared to wear your jewellery out in public and it ends up being locked up in your jewellery box or in your safe.
  3. It might be outdated: Your jewellery may be old and out of fashion, and you would rather buy something new and trendy.
  4. Your cash will be available immediately: Unlike a savings account or policy, jewellery is quick to sell and be turned into cash “on a dime”.
  5. You might just want to let it go: Your jewellery could be a gift from a previous relationship and it has lost its sentimental attachment. It may be of more value to you as cash.

DID YOU KNOW?

Did you know that you can pay your bills in cash at all the major supermarkets, such as Checkers, PnP and SPAR, using the EasyPay system which is designed to take the pain out of paying your municipal bills? Simply take your monthly statements into the kiosk, or straight to the cashier whilst you are ringing up your groceries and settle everything in one transaction.

A word to the wise: Paying your bills at your local supermarket is also the cheapest way since you don’t have to fork out any extra Rands and cents for bank charges.

For more advice about selling your mismatched earrings or your broken gold chain, contact a specialist at Mr Kruger today.

*Accurate at time of publishing