smart spending

Sell old gold for cash

Gold parties
5 of 7

The scoop: It's just like a Tupperware party, but instead of going home with plastic and a hole in your wallet, you sell your gold and take home cash.

The benefits: It's fun, social and perhaps the only multilevel marketing program where you leave with more money in your wallet than when you arrived.

The drawbacks: Don't expect to make a mint. In addition to the company's cut, the party's host will probably snag a 10 percent commission. Not all the party hosts will be gold pros, which means your gold may not be evaluated fairly.

The bottom line: Is it fun? Definitely. Is it profitable? That's questionable. Expect to get 50 percent or less than what your gold is actually worth. "It comes down to this," Montgomery says. "Do you trust the person you're doing business with?"




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