Saving Profits from Scrapping

save money scrapping

One of the most important things to scrappers is making money. The more knowledge and resources you have for scrapping, the more money you can make. Knowing when to strip copper wire loads or how to take apart computers are all useful steps to making more money.

What happens after you make the extra money?

After scrappers make money scrapping, often times they will just pocket it or pay bills with it. Getting smart with your scrap profits can help your family and your wallet in the long run. If you create a plan to divide your earnings to go towards certain savings, you can start making even more money from scrapping. Here are some examples of projects you can start saving for with your scrapping money, that can make you even more money.

– New Tools: Scrappers are always relying on their tools and making their scrapping easier. Some of the necessary tools to get work done can be expensive, like a sawzall below. The price range for power tools like that can be anywhere from $100 to $500. Instead of overwhelming yourself with the price, you can begin with putting a percentage of you scrap load earning every visit to the yard. If you average $100 trip every to the yard every two weeks and put away 20% of your earnings towards a new tool every time you can have a new tool within 4 months!

– Equipment: Tools are important to finish some scrap jobs, where the equipment to get the job in the first place is important too. Some examples of needed equipment are; hitch trailer, handtruck, winch, chains, ropes, etc. Hauling larger loads require larger equipment, so by placing part of your earnings from every scrap trip aside, you can begin to afford better equipment to make more money on big jobs.
– Marketing: If you do scrap pick ups in your area, it won’t mean anything if people don’t know about your service. By using our marketing suggestions, you can get your name out there. Some marketing items may cost money, like business cards, t-shirts, hand outs, and more. Place part of you scrapping profits aside and place them in a jar or bucket labeled “Marketing”, and you will begin to collect a good amount to spend for these necessary materials.
By beginning to figure out what new projects or products you are looking to spend money on, set your goals and begin to set aside your scrap earnings to help pay for those things. If you stick to the plan, you will be surprised how much money you will be able to save in a short amount of time.

Report Your Price Button