In case you hadn't noticed, life tends to be cyclical in its nature and offers both opportunities and challenges in equal measure. This is something that affects us all on a daily basis, as while fate seems to give with one hand it has a tendency to take with the other. Rather than embrace this reality and account for the peaks and troughs of everyday life, however, we are often inclined to bemoan misfortune and use this an excuse for our failings.

Personal finances offer a relevant case in point, as it is easy to lose sight of the point of saving amid rising living costs and stagnating wages. It is also human nature to blame these factors for any financial shortcomings, rather than changing our outlook and adapting a proactive approach to generating additional income.

3 ways in which you can cash in on your old Technology

It is crucial that you take control of your own finances and wealth management goals, however, especially if you are to optimise your income and create a nest-egg for the future. This can involve a wide number of exercises, but one of the simplest and most effective is to cash in on your old technology and unwanted gadgets.

Here are three steps to achieve this

Visit the local Computer Exchange

If you have old or outdated technology and are in the market for an immediate return, you should collect your equipment and visit the local Computer Exchange (or a similar, virtual store). This type of outlet is quick and professional, while it is also obliged to offer a fair price and more likely to pay more for bulk items.

Browse the website first to see exactly what you can expect to get in the way of a return, before also comparing alternative, online stores that deal with niche items. If you are dealing with niche hardware, you may want to consider seeking out specialist second-hand dealers (especially when trading collectible CDs or old consoles).

Take your hardware apart and salvage components

Old computers often lose their value, but those of you with expertise and technical knowledge can still profit from such hardware. While your desktop or console itself may have no monetary value, for example, its individuals components may still be functional and suitable for alternative purposes. This particularly applies to recoverable and multi-purpose components such as RAM chips, video cards and drives, while even relatively low-grade items like USB 2.0 ports can be resold for a minimal fee.

Refurbish and gift

For those of you with moderate  skill or expertise, you may want to consider refurbishing an old piece of kit and either giving this as a gift or selling it privately online. This will either save or make you money, but either way it will help you to generate something from nothing financially. Old PC's or iMacs can be easily upgraded with new keyboards and a mouse, for example, adding higher resale value and functionality to others. Simple components from some devices can even be combined with modern technology to create new and creative pieces of hardware, some of which may have value on the private market.

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