If you need some extra cash, maybe it's time to stop hoarding 15 year old phones and CD players you have no use for other than as a paperweight.

Across the nation, America has $43 billion worth of electronics hiding in their homes. With most people holding onto their stuff, $11 billion will be lost value by the end of the year this year.

Of 2,000 Americans, a study found the average person has around $199 worth of old electronics in their house.

Experts say you need to sell stuff as you upgrade, because cell phones, computers, game systems, wearable smart devices, tablets and other electronics depreciate in value about 26% every 12 months.

4 in 5 are sitting on a mobile phone that they aren't using, and 2 in 5 people have between three and five pieces of obsolete tech hiding in plain sight.

Here's some quick depreciation values for your reference:

  • iPhones: $108/year
  • Samsung: $66/year
  • MacBooks: $140/year
  • Tablets: $85/year
  • Wearable Watches: $90/year

Read more at SWNS

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