Education is one of the more important things you have to spend on. When it comes to securing the future of your children, this is what should be a major priority. With many grade levels to run through (not even counting college!), it’s a pretty big investment and, if we’re totally honest, not everyone can afford it.
One way to raise cash is to borrow money—which is the classic way people do it. Because tuition fees are repeating expenses, this is also the best way to rack up significant debt. A better way is to pawn items that you don’t need or those that aren’t as important as, well, educating your kid.
PawnHero looks at 10 things around your home that you can pawn if you need quick cash for your kid’s tuition fees.
1 – Smartphones
Easily among one of the more prized possessions these days, smartphones are just as easily one of the more bankable items around your home when it comes to pawning for quick cash. Of course, that still entirely depends on many things like the brand, year of release, and original price. Still, even a mid-range model from a local brand can fetch you up to Php 3,000-4,000 on average when pawned with us. That’s provided that your smartphone is in good shape.
2 – Tablets
Tablets bear talking about separately because they’re valued slightly different from smartphones. Although they offer the same features—sometimes even more given their size, they don’t usually fetch too high a pawning prize. The exception here are higher end models like the iPad. Ok, it’s mostly the iPad that gets a high price when pawned at Php 6,000 but other tablets can still be used as collateral for Php 2,500-3,000 loans.
3 – Watches
Not every Filipino family would have a luxury watch tucked away at home (which is why this isn’t too high on the list), but those who do have a huge source of quick funds to pay off tuition fees. There’s no real average to look for here as different brands fetch different prices. Some Breitlings can go for Php 200,000-250,000 when pawned, and so on. The trick, though, is to make sure you have the authenticity certificates and even the box if possible. These increase the value.
4 – Luxury Bags
This class of items falls in the same category as luxury watches and is surprisingly popular as pasalubongs from relatives or friends living and working abroad. Before you pawn these prized items, make sure to check for authenticity as these are very easy to fake! Always check online for tips on how to differentiate originality based on the stitch patterns and labels. If you have a genuine Prada at home, it’s a great pawn for tuition fees at around Php 30,000.
5 – Television
This one’s a little lower on the list because it’s honestly harder to give up our telenovelas, noontime shows, than most anything else because it’s a source of entertainment to a lot of people. If you can (and if you have a more modern flatscreen TV), these will fetch you anywhere between Php 5,000-50,000 depending on the model. It’s important to pack them carefully to ensure they stay safe in transport, however.
6 – Jewelry
Jewelry and precious metals & stones have always been a staple for the pawning industry and PawnHero is no different. Depending on the size, look, weight, and other factors, these valuables can fetch a very varied price range. Some can be as low as Php 10,000 while the more prized pieces can run as high as 500,000 and above. That’s more than adequate for most schools out there. And you can rest assured that we keep your valuables safe for you.
7 – Gaming Consoles/Entertainment Devices
Traditional pawnshops kind of steered clear of gaming consoles and other entertainment devices even if they fetch a decent price when you pawn them! The very popular Nintendo Wii console can be pawned for around Php 5,000, for example. There are even more consoles out there that will nab you a lot of money when pawned. Another thing to consider? Videoke devices! Depending on the brand, these can be worth Php 3,000.
8 – Eyewear
Surprisingly, those old Ray-Bans can still fetch a respectable price when pawned. You can get anywhere from between Php 2,000 and 6,000 depending on the specific make and model. So if you need quick cash, dig around for that classic pair of specs. It might just be the solution to your tuition fee problems. If you have the original case for it, even better, as that adds to the value of the item quite a bit.
9 – Cameras
Another item that’s highly bankable with pawn shops is the digital camera. While you certainly get the most if you bank on a larger, lens-interchangeable DSLR, even smaller prosumer cameras and compacts are still highly pawnable. Because of that, this category can boast of a wide loan price range running from as low as Php 500 all the way up to 50,000 depending on the complexity of the camera, the age, the brand, and the completeness of the accessories.
10 – Laptop
We placed laptops low on the list simply because we honestly believe that you should only ultimately pawn off your laptop if the need is particularly dire. That’s because laptops–with the proper internet connectivity–can compensate for a lot of the other functions of the items on this lest and is also a powerful complementary tool for education. That said, these do get you a higher loan depending on the brand. A relatively modern Acer might be worth Php 7,000 while higher end MacBooks can fetch 15,000.
Investing in your kid’s future helps to equip him or her with the necessary knowledge and skills to be able to build a fruitful career. This makes it worth sacrificing anything worthwhile. Pawning is the better way to go because you don’t ever run the risk of putting yourself in heavy debt. PawnHero offers a convenient, wholly-online experience. With only 2.99% interest and no hidden charges, you’re always clear what you’re getting into.
SO, if you need a little extra to help pay those tuition/school fees, give PawnHero a try today.