By way of my Granny, I have become an eBay seller. She has been selling old toys for some extra money. She isn’t technologically savvy enough to get them posted, so I help her in that area. She doesn’t drive, so my mom handles the shipping for her. We’ve been doing this side hustle for about a month and I’ve learned a few tips and tricks for those just starting out.
The items have to be clean and organized before posting.
Use eBay’s recommended shipping as a guideline. - I thought shipping would be a lot cheaper than it actually is. This hurt our profits at the beginning.
Be happy with whatever it sells for if it’s an auction. - We are happy to be making anything on old toys since it is all profit. If you want a specific amount to feel comfortable selling, consider a buy it now or starting your auction at or near that price.
Treat buyers how you would want to be treated. -This means giving refunds if appropriate and combining shipping where available.
Consider shipping insurance on items that sell for a high price. - We had something sell for $50 and it got damaged in transit. That ended up being a return and loss of those funds.
It will be a time investment. - How many items you sell and how quickly will determine exactly how much time it will take.
Lastly, put your profits towards debt. My Granny always borrows from us to pay for Christmas. I would rather her borrow money from me than a PayDay lender like the previous year.
It’s time for the 2017 wrap up and a new net worth update. To start. Let’s go over my goals set for 2017.
Original 2017 Goals
Pay off $14,000 in debt. - Exceeded Save $700 for a vacation. - Saved the cash, but overspent and Ended up $870 for the trip
Save $800 in my auto account. - Missed this target. Moved over money and cash-flowed any maintenance. I keep thinking that if I can get more debt paid off it will be easier to save money for a new car in full.
Home Stretch Goals
Pay off all Plus Loans - completed 12/11/17 Be at 50% of debt paid off - completed Pay off $20,000 for 2017 - completed 12/27/17
These stretch goals helped keep me pushing during November and December. I had already passed my original goals and wanted to take it a step farther.
I’ve ended 2017 at a networth of -$24,794.08. I could be positive next year!
Alright so 2018 is about keeping it up while also pushing towards the long term goal.
Exceed 2017 for debt paid off - This will be a challenge as in not expecting any increases, bonus is not likely due to the overall company performance, and I will have to start paying for health insurance.
Begin the Debt Snowball method. - I’m starting to get bored/antsy. I am vacillating between knowing I can pay off my car this year or knock out a lot of my smaller Fed Loans.
Save $1,000 for a Vacation - I’m considering a trip with my little sister and will either save the cash or cash flow it. Either way no credit cards for this trip.
Cash flow for anticipated upcoming Medical Bills and car maintenance.
New Long Term Goal
Be debt free by May 2019, which is 5 years after college graduation. .
Hi guys! It’s another exciting day here. We have a guest blogger, Mark from FoosBallZone. Enjoy the new post and check out his information and website as well.
The holiday season is here and that means we will buy presents for people we love. But, we don’t have to spend a lot to give them interesting presents. Think about the personality of the people you are buying and I will inspire you with interesting presents which won’t make you spend too much. Enjoy my list of cute present for Millennials:
I like devices that have two purposes since they never appear what they look like. This present is an excellent example of it. It is a tassel keychain which looks incredible and it would seem that a common keychain, yet in the event that you look carefully, you can see that it has a charging link implanted inside. This means that the person who gets this present will always have a cable with her and that can save battery very often. You will astound your better half/sweetheart/little girl with this present for Christmas.
The foosball iPad table is really a mix of the advanced and genuine diversion since it comprises of two things – the foosball table and iPad. The foosball stand is a little foosball table with poles and scoring framework and the iPad is really the playing surface. Along these lines, you are turning the poles and the players in the iPad are moving as you wish. I am certain beyond a shadow of a doubt everybody will love this device. The rods on the iPad stand and the rods in the game work perfectly so you won’t experience glitches.
Every beer lover is not a true beer lover until he tries to make his own beer. This interesting kit is made for beer enthusiasts who aren’t afraid to make things with their own hands. This beer is not an ordinary beer, it is a Bourbon Vanilla Porter and that will impress your beer friend. If you aren’t sure whether he will love that type of beer don’t worry, you can pick another one because there are 6 combinations you can choose from.
If a person wants to enjoy a nice cold drinks without watering it with ice, he/she should definitely try cooling the drinks with whiskey rocks. Little rocks are completely safe; they are made from natural soapstone which can maintain the desired temperature for a long time. It is extremely easy to use them, they have to be in the freezer for a couple of hours and they are good to go. No more diluted drinks and another perk that comes with them – they look incredibly cool.
Planner Passion 2018 - $30
Every New Year is a new beginning and a chance for improvement. Millennials are an ambitious generation which makes this present an excellent choice for them. Here, they can write their long and short-term plans, important dates, to do lists and everything they want to write to keep their life organized.
I hit my first long term FI goal. I’ve just submitted my last payment for my Parent PLUS Loans. Today is payday and I woke up anxious to get my payment sent out. It’s still pending, so I’ll officially celebrate next week.
This is an exciting feeling. It’s the endorphins I needed to catapult me into a stricter budget. It’s been a long journey to reach hitting this goal - In part because I chose the Debt Avalanche vs the Debt Snowball.
Now I’ll be focusing on my Auto Loan and Fed Loans in the New Year. I would like to get $20,000 paid off this year, but I also have been using my credit card too much. - I’ll let you know which I decided to put it towards. Celebrate the wins, everyone!
It’s been a bit, but I’m doing some financial recalibrating. I mentioned how I was going budget free lately. I’ve decided it’d be best to get my butt back in gear.
I did an analysis of my debt payments towards my Plus loans. It’s interesting to see the trends. I can tell where I lost focus or other things came up.
I’m going back on the budget train in January. Right now, I’m giving a final December push to finish the year by paying off $20,000 in debt. I’m close, but need a little extra to get it closed out.
I’m starting to adjust my budget and envelopes for 2018. I would absolutely love to be debt free by May of 2019 - five years from when I graduated from college, but I think that might be too ambitious. It’s a fun goal though. With my budget in hand, it could happen.
I know I can do it by January 2020, which is still an exciting thing to calculate.
In my yearly wrap-up I’ll go over more, but you guys know I love to think about all of that stuff already in December.
This month was my attempt to get back on the budget train.
I only really use two categories for my cash. They are Gas and Spending money. Gas prices have gone up, the plumber sent us his bill, and Murphy showed up.
I brought my phone and $20 to the flea market. I left with neither. I didn't put my phone in my pocket and I left it in our little wagon. I looked back, and my phone was gone. I traced and retraced my steps, but I knew it had been stolen in that 10 minute timeframe.
I have set aside cash for the plumber, so that is taken care of. I have about $30 for gas money next week and I'm currently on the "E". Thankfully payday is on Friday. I might eek it out until then, but I may have to put one tank of gas on my credit card and pay it back right away.
Regarding my phone, my family always keeps a stash of old phones. These are ones that work fine, but we upgraded and no longer need them. I decided to use an old one and it didn't cost me any fees to activate the new phone. I was pretty tempted to just get a newer phone instead, but it would cost too much.
Overall, going cash has helped me keep in mind all the things that could come up. What's great is that how I budget allows for these unexpected things to happen. Plus, maybe I'm not the most "gazelle intense", but I also know that I can cover my emergencies by lowering my debt payment. I don't want to do that, but life and Murphy happens.
Today is a great day. It's Friday, it's payday, and my blog was mentioned in a list of the top 100 Millennial blogs on the web. That's a pretty cool honor. I am actually number 100, but still happy to be included at all. Here's a link to check out the other bloggers mentioned. Many of these I recognized from the blogs I read and the intstagram accounts I follow.
I know that it's best to live without needing to know it's payday, but I still do. Today is the payday I get to put everything toward my student loans. It's exciting and honestly something I look forward to because I know I'm one paycheck closer to freedom. Keep it up everyone and have a great Friday!
My family is headed back to school/work and fall/ holiday plans are already in the works. I'm down to just over $5,000 left on my last parent PLUS loan.
I recently received my last planned raise in pay. I realized that I am officially at that place where over half my income can go to my debt avalanche. I'm going back to using cash for gas and other expenses. I am doing my own version of the envelope system. I've taken out an allotted amount of spending money per week. I can do as I wish with that. I can go out for drinks, pick up lunch, buy hair products, and lust after fall fashions. No judgement here because in the long run, it's in the budget.
I plan to reduce my spending money next month based on how much I can use self control this month. Any extras I save in cash will either go towards Christmas presents, or helping my grandma pay the plumber. Here's to rocking out the last months of 2017
Month and Year Debts Cash Retirement Life Insurance Net Worth Difference 8/1/15. -$72,058.67 $6,587.25. -$65,471.42 8/4/16. -$59,957.95. $6,008.00. $921.81. $1.68. -$53,026.46 12,444.96 8/1/17. -$41,910.38. $3,349.59. $3,502.98. $130.58. -$34,927.23. 18,099.23
I love to think about what I was doing this time of year last year, two years ago, five years ago, etc. Basically, I am the person who actually enjoys Facebook Memories.
I saw on my NetWorth spreadsheet that I have three data points for August. The first point was the first time I calculated my networth. This is the first point of reference for my debt journey. I started tracking my debt in July of 2015, but this is the best indicator of my finances.
2015 - I had a retirement fund, but wasn’t sure how much was even in it. This retirement fund was by accident - I might add. My first full-time job included me automatically. I didn’t have life insurance. I held onto extra money “just in case” instead of putting it toward debt.
2016 - I started to get my stuff together. I found out how much I have in my retirement and would soon get a job in September that would contribute even more. I bought some life insurance. At first I thought it was a waste of money, but held on since I bought it young at a good rate. I made $12,000 worth of progress on my net worth.
2017 - I have a retirement fund that is more than the amount in my Emergency Fund. This is a little goal that makes me happy. The life insurance is starting to grow in worth. I’ve started to feel comfortable at a lower amount of cash on hand. I need to get some car repairs, so I may stash a little away in the short term. I made another $18,000 worth of progress since the previous year.
What I take from this, is that in another year I want to be just as proud of myself. I want to keep looking back and see all of the impact this focus has made on my life. As life keeps on going, I know there will be changes and mortgages, but to know that it all started right here - is pretty cool.
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