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March 2003
Maximizing the value of your stuff means keeping what you really want and getting cash for what you don't.
Check out the What and Why of M-V-S, then come back here.
Here's a step-by-step way to free up cash and time by rating your assets.
Step 1: Create Your Account
Use the Create Account page
to create your free MakeLifeEasy account.
Step 2: (Optional) Enter Your Current Assets
Use the Home Inventory page.
Now you have a log of your home inventory.
That's also useful for buying insurance and making claims.
Your MakeLifeEasy log is safe, secure, off-site,
and is backed up to two locations each day for extra disaster protection.
Step 3: Enter New Assets When You Buy Them
There are two ways:
- Manually: Use the Add an Asset page.
The key data is entered on the Cost and Benefit Data page,
including your estimate of the asset's "lifetime"; that is, how long it will be useful to you.
And, the key point here is: don't overestimate the asset's lifetime.
If necessary, give it a short lifetime. You can easily increase it later.
But you just may decide to get rid of the asset instead, and be better off.
- Semi-automatically: You can install your MakeLifeEasy toolbar button
Then, if you're buying an asset from any online merchant,
you can use that button to load the asset into your database.
- (COMING SOON) Automatically: If you're buying an asset from a participating online merchant,
click on their MakeLifeEasy link to load the asset into your database.
Step 4: Check Monthly (or so) for Assets to Sell
Use your Saleable Assets report.
- (Optional) Sort the report by Benefit per Month ("BPM"). What's a BPM, you say?
See How to Rank Assets by Benefit per Month ("BPM").
Setting your BPMs takes a little thought and some practice, but you'll be doing it on no time.
Anyway, see if any BPMs are "out-of-whack". You decide. You can click on a BPM to change it.
- Sort the report by TOTAL DIFF.. This field shows the dollar value of your "opportunity":
how much better it is for you to sell it than to keep it.
See Value Concepts.
The TOTAL DIFF depends on the asset's lifetime (days left), market value, resale value, and BPM.
Look at the report, and if you think all these are reasonable, this may be a good asset to sell.
- Check the market value, which estimates how much cash you might get when you sell it.
- Here are a few Other Things You Can Try.
Step 5: Sell the Asset(s)
- When you decide to sell an asset,
click on the "Sell it" link to visit one of our partner sellers,
or sell it yourself.
- After you sell the asset, you'll want to mark it "Sold" in your database.
That's it
Check your saleable assets list every now and then.
You can do it when you add a new asset to your database.
Or, check in once a month, or once a quarter, or so.
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