Tip #3: Sell something on eBay today
November 03rd, 2008 - 91 Comments
This is tip #3 from the 30 Day Challenge to Save $1,000.
Today’s tip is to sell something from your house on eBay. But surprisingly, it doesn’t really matter what you sell.
I’ve noticed lots of commenters saying how they’ve already cut down on lunches, heat, etc. So what can you do next? If you’re already being frugal, the next step is to make money. I want you to get there, and today’s tip is designed to be a gradual step to earning more. It’s specifically intended for two purpose: To symbolize to yourself that you can sacrifice by selling something, and to symbolize that you can make more money than your standard income. Once you do that, there are many other ways to generate income.
Notice I didn’t say the point of this is to make money directly. That’s because you probably won’t make very much from selling a given item on eBay, and it’s frankly probably not worth your time to sell, pack, and ship a $10 item (read more). But that’s not the point. The point is the symbolism of cleaning your life and generating even a small amount more money than you normally earn.
Everybody can sell something. Something you’ve been wanting to get rid of, or something you keep insisting you’ll use, but you know you really won’t. This tip applies to everyone.
I used to work at a consumer-goods auction company (“You drop it off, we sell it on eBay”) and learned a couple things about selling. Do this: Set your item to sell for the minimum amount with no reserve. There are certain advantages to different sales lengths, but we don’t need to split hairs. For today’s purpose, set the length of the sale at 5 days so you can get quick feedback. And pick something that will sell for a decent amount — say, $10. No, nobody wants your grandma’s old sweater.
Remember, the point of this is not to make money. It’s to psychologically commit yourself to saving money. It doesn’t matter if you make $10 or $300, but I want you to sell something at least $10. Then do it a few more times this month.
Total savings: $40 to $100
Note: I did it, too! Here’s my eBay listing for e2c Shure headphones, which have just been laying around my house for a while.
Last thing to do
Leave a comment on this post describing how much you’re saving with this tip. Each day, I’ll ask you to post how much you’ve saved cumulatively. Use this as a way to track your own progress (it will also encourage others to join)
If you liked this tip, check out my Premium tips — one long, tactical tip per week. Save money or get a 100% refund.
Alright, today is the beginning of an entirely new chapter of IWT. I just got back from a last-minute weekend ...Read More