It's the time of year where the effects of your Christmas spending really start to hit your wallet. You could really use a bit of extra money but short of robbing a bank you aren't sure of what you can do to improve your finances. For those clothes horses amongst your men there's a fairly good chance that your wardrobe is bursting at the seams with clothes that you have barely worn. So why not make the best of that situation and turn your clothes into cash in order to make room for the next purchase that you just can't live without by selling your used clothes!

Start by undertaking the no doubt painful task of clearing out your wardrobe. Any completely worn out or permanantly stained clothes should just be thrown away. Pull out any shoes, clothes and accessories that look like they're in good shape and could be in season for another few months. Any children's clothes that you find should be sorted by size and of course, gender.

Next you should clean and iron the clothes you have picked out. If possible, take them to a professional cleaners but failing that you want the clothes to look as new as possible. Keep them on hangers if you can so that you avoid getting them creased.

It would be a good idea for you to visit some resale stores which sell clothes that are a similar style to yours and become familiar with the type of stock that they cart. It's worth asking them what sort of clothes they are looking for and how their buying policies work. As an example some shops that sell jeans may only be interested in a particular brand, whereas some shops may only be looking for children's designer clothes. The last thing you want to do is waste your time by trying to sell your clothes to the wrong store.

You may wish to consider a consignment store if you have some slightly worn designer clothes which are a couple of seasons or a couple of years old. These types of shops will usually display clothes for up to 90 days (often with periodic markdowns). You are paid a portion of the sales price for any items that are sold. Your percentage is usually around 40-50% excluding tax. Most consignment stores have two seasons: spring/summer and autumn/winter so if you are taking this route make sure that your clothes are organised as appropriate. Find out what hours the in house buyer works and where if necessary make an appointment to bring in your clothes. Make sure you know whether there is a limit on the amount of clothes you can bring in.

Alternatively you may want to try being your own retailer by selling any designer or vintage clothes you own on auction sites like ebay. In order to get the most out of these sites your items should be described clearly and accurately, with specific measurements and quality colour photographs. If someone ends up buying any of your items then make sure you handle the delivery promptly and efficiently to ensure positive feedback. This will benefit you next time you come round to selling something online.