7 Things Gen Z Should Sell To Build Their Savings
Written by
Cara Danielle Brown
Edited by
Gary Dudak
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“Gen Z earns the least per hour across hourly workers in the U.S., earning an average of $15.66 per hour in 2024 (compared to $19.07 per hour earned by millennials, $19.79 per hour earned by Gen X and $18.57 per hour earned by boomers),” according to a 2024 Deputy study.
Whether due to age, inexperience or the state of the economy, it makes sense that Gen Z is frequently strapped for cash — with 65.5% of them reporting they live paycheck to paycheck, per a 2023 LendingClub study. This can understandably make saving money for, well, anything hard. But, as it turns out, Gen Z may have valuable items in their possession that could be sold — and they may not even know it.
Intrigued? You should be. GOBankingRates spoke with experts to discover items Gen Z should sell in order to build their savings.
Also see seven new things Gen Z needs to save money for that didn’t exist for boomers.
Designer Jewelry
This one seems obvious, but it’s amazing how much jewelry is just lying dormant at the bottom of a drawer somewhere. Luckily for Gen Z, “jewelry tends to hold its value very well,” said Jennifer Johnson, founder of True Fashionistas.
Johnson said jewelry from brands like Tiffany & Co., Van Cleef & Arpels and David Yurman currently commands the highest resale value. Gold jewelry in particular is especially profitable given gold’s stable rise in value this year, according to Brandon Aversano, founder of Alloy Market.
Musical Instruments
Remember lugging that trumpet to the bus stop for band practice? It’s finally time to cash in. Because prices for new instruments tend to be high, “many parents look to buy used instruments for their kids,” said Erika Kullberg, founder of Erika.com. This makes them very easy items to resell.
And, chances are, young adults still have them in the attic right next to their middle school yearbook.
Trendy Sneakers and Streetwear
According to Ryan McDonald, chief operating officer of Resell Calendar, the most overlooked gold mines in many young people’s closets are trendy sneakers or limited-edition streetwear likely purchased at the height of their hype.
“I’ve seen pairs of Nike collaborations or Yeezys that were bought for $200 sell for two or three times that and some rare editions go for a thousand or more,” McDonald said. “The Air Jordan 1 is particularly notable, capturing a 23% market share with an impressive average resale premium of 85.7%.”
Limited-edition streetwear in good condition or in collaboration with artists can also turn a surprising profit. McDonald cited a Supreme box logo hoodie as an example. If initially bought for $168, this item could potentially capture anywhere from $500 to $800 on resale.
Unused Gift Cards
Kullberg pointed out that many people have unused gift cards that they received for Christmas, birthdays, etc. Sometimes, these gift cards are for places they never intend to shop.
Instead of letting them sit in your wallet, sell them to people who want them. Money for money? It’s almost too easy.
Designer Handbags
Don’t forget about the handbags you have lying around. When it comes to brands that consistently produce the highest returns, Johnson said Louis Vuitton and Chanel reign supreme. “Chanel is probably the best investment anyone can make in the fashion realm,” she said.
Don’t have exorbitantly expensive handbags lying around? According to McDonald, even entry-level luxury pieces from brands like Kate Spade, Coach and Michael Kors — particularly vintage 2000 pieces — can find buyers as long as the items are kept in good condition. “A Coach bag, very well kept, from the early 2000s … originally priced at $200 … can bring in $400 to $600 at resale,” McDonald said.
Textbooks
College textbooks are very expensive, but they’re typically used for only one semester before being either thrown out or tossed on a bookshelf as a bulky souvenir.
Kullberg pointed out that, by selling these books back to a college bookstore, through online retailers or directly to new students, Gen Zers could recoup some hard-earned cash.
Retro Gaming Equipment
Certain kinds of retro gaming equipment have drastically appreciated in value — especially vintage Nintendo products. And, hey, who doesn’t love some Mario Kart?
“A vintage console such as the Nintendo 64 can be sold for 200% to 300% of its original retail price, valued at $8,000 to $20,000,” McDonald said. Even items with some wear and tear are collectibles. Most recently, he helped a client sell a used Nintendo Switch and some accompanying games for a modest 80% of what they originally paid.
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