Financial Fitness February: Day 6

Today was a pretty quite day for me but there were a couple things that had a small impact on my finances.

1.) Sold another Lava Lamp

This has been a very consistent seller for me. This last sale puts me at 50 of this same lava lamp sold since the listing went live in June of last year.

It’s only a few bucks profit every sale but it is mostly hands off since I listed it and set it up to be promoted. The way eBay works, the more sales you get on an item, the more they will promote it and in turn you make more sales.

So it has pretty much turned into one or two sales a week fairly passively so I would consider it to be a nice WIN!

2.) Profitable Book Sourcing

My local thrift store had a $5 book bag sale which I made sure to take advantage of today. I made sure to scan each book with the Book Scouter app and although I plan to sell them for more on eBay, I can still make at least my money back just by sending it in there.

If you have thrift stores in your area, make sure to ask them if they have a calendar of the specials they are running that month. It’s a great way to save money.

I ended up with 3 bags of books which after tax came out to just over $16. I got 42 books total so the price for each book came out to $0.38 cents each.

FUN FACT: The most profitable drop shipped item I have ever sold was a banjo which made me over $100 profit years ago. The funny thing is, I had just nearly lost money on the exact same banjo a couple weeks before because I didn’t price it right. So I upped the price never expecting it to actually sell, but it did!

3.) $0 Personal Spending

I was a bit surprised, but as I looked over the day I realized that my wife and I did not spend money on anything personal today besides the money that was spent for my business.

This is definitely a win because the more days you can cut down on your spending, the more you will have at the end of the month.

4.) Back to Work

For those of you who may not know, I left my job back in the end of May of 2019 to pursue my entrepreneurial ventures.

Today however, I met with my former boss about the possibility of doing some work with the company again.

They are in the position where they can really grow the company through digital marketing but it seems they have sort of come to a standstill since I left and they have been asking me to come back ever since.

I have accepted their offer to go back and work part time. I am looking at this more as an entrepreneur than an employee as they are really giving me the freedom to do what it takes to grow the company and it will allow me to gain even more valuable experience and I believe it will be something I can look back on with a sense of accomplishment.

That being said, I will still be working to build my reselling business to become my main source of income, but having another stream of income to rely on while doing it is going to really benefit my wife’s and my finances.

So I will look at it as a WIN!

LESSON FROM TODAY: When your perspective changes from focusing only on the money to how you can bring value to others lives, it makes working a job, running a business and life better in general!

If you have a personal WIN to share, I would love to hear about it!

Have you ever done something for the experience more so than the money?

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Great topic and glad to see you encouraging others to take control of their finances! Something to check out while you are purging things is a company called Poshmark, which allows you to sell used clothing. Recycling and helping your finances!

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Great article, very motivating for me.

@michael.metzger thanks for mentioning that. I have been aware of the company for a while but don’t have any experience selling on there. I do have plans to in the future though as I seek to expand the platforms I currently sell on.

@cmarks glad to hear that! That is my goal, to help and motivate others to create a better financial future!