Campbell Wealth Management - August 2020

Are Your Thrift Store Donations Being Thrown Away? clothing, secondhand shoppers have been staying home, worried about the health risks of buying used goods.

Are you thinking about donating your kids’ old clothes or that slow cooker you haven’t used in months? Though donating your unwanted items is a great thing to do, amid the pandemic, many people have not considered the future of secondhand shopping and charity-based thrift stores like Goodwill. In 2018, Goodwill funded nearly $5.3 billion in charitable services, like educational assistance, job training, and work placements. But now, Goodwill and similar organizations are facing a unique problem: They’re receiving too many donations. To prevent your items from ending up in a landfill, consider the following before you donate. Under the circumstances, this situation is understandable. Thanks to nationwide stay-at-home orders, many took advantage of their newfound spare time to spring-clean and subsequently donate unwanted items to charity. However, with the confusion about how long the COVID-19 virus can live on

Famously, thrift stores still keep unsold goods out of landfills. Up to 75% of Goodwill’s merchandise, for example, isn’t sold in their stores. Instead, it’s sent to discount outlets and then into global markets. However, Mexican traders, who account for 30% of business at thrift stores close to the U.S. southern border, and Kenya, the world’s largest buyer of unsold secondhand clothes, have stopped buying during the economic shutdown. Meanwhile, some good-intentioned Americans are leaving their goods outside thrift stores’ front doors, not realizing that without enough space to house the excess donations, many of these thrift stores will have to pay disposal fees, costing the business potential revenue and sending your items into local landfills. However, Goodwill still wants your donations! You just might have to hold on to your items for a little bit. Check to see if your local thrift stores are open for donations. Many recommend waiting until the influx slows down, but others have expanded their inventory storage and are ready to keep up. Just make sure to follow their guidelines on acceptable items because any broken or worn items only add to their costs. Happy donating! Upcoming Events Wellness &Wisdom Series • Tuesday, August 4 - 3:00 PM - Healthy Cooking with Chef Julia • Tuesday, August 18 - 1:00 PM - Antique Appraisal with Quinn's Auction Home

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Educational Webinars • Wednesday, August 12

6:00 PM - Taxes in Retirement

• Thursday, August 13

11:00 AM - Taxes in Retirement

• Saturday, August 15

10:00 AM - Taxes in Retirement For more information please visit our website: www.CampbellWealth.com or call Carol at (703) 598-2116

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