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How to determine true value?

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There are many sites online where professional appraisers or subject matter experts offer estimates on your items. Simply upload a photo and add descriptions. The site will typically respond within a week with a valuation of the item.

However, some items may have more value to you than others may be willing to pay for them. In this episode, Ms. Black discusses the value of her 2008 Honda Accord EX-L and the ”True Value” of the car to her.

When calculating the ”True Value” of your items consider the following:

  • Is the item still usable and bringing value to your life?
  • How much would it cost for you to replace the item?

Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.

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