eBay Challenge Update – May

As we’ve established in April’s update, this has really become an “online sales” challenge, but we are sticking with the original title. In this challenge, we are collecting things that are still in our house, despite constant efforts of downsizing and minimizing, and trying to turn them into cash through various online platforms (ok, thus far it’s just eBay & Craigslist).

Just a little refresher: we started in February, with downsizing as the goal, and walked away with $72 after shipping, fees and expenses. This inspired us to set a goal for future months. The goal for March was $75 and we managed to get $168.27. The goal for April was $160, and we crushed it with a couple of big ticket items helping us get to a crazy $535.25! This could have led to a crazy goal for May, but we decided to stay fairly reasonable. In the nicer weather we were going to focus on the shed-cottage-studio, landscaping and gardening. So, we toned down our goal to $110.

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*Womp-womp*. We did not get there. We managed to come a little over half-way, at $64.11. Mr. Sweetspot is particularly proud of selling an inner tube wallet (a leather looking wallet made from up-cycled inner tubes) that was finally sold after four successful listings on eBay. Mr. Sweetspot has learned to make these himself (which was his original motivation for buying it) so he doesn’t need the one he originally purchased.

Up-cycled Inner-tubes
Some of Mr. Ss recent up-cycled inner-tube projects.

We are not upset by this result at all. First of all, we believe in something we’ve coined “success through failure“. By reaching out for something that may feel un-achievable, you will get at least halfway there. If you pick the low hanging fruit, you’ll never find yourself halfway up the tree. The second reason we aren’t upset by a bad month is looking at our overall progress. In just 4 months, we’ve made $839.63, or an average of more than $200 a month. If we continue in this way for the rest of the year, that’s an extra $2,400. Put that in an interest earning account compounding annually for ten years earning 7.5% APR and you’re looking at $41,445.96. 20 years is $121,920.92, 30 years? A whopping $287,782.35. Like it or not 30 years will come no matter what we do, and an extra quarter of a million dollars sounds pretty good to me. All this, while meeting our true goals of downsizing, decluttering, reducing our environmental impact and up-cycling. What an awesome bonus!Compound Interest Calculator

With all this in mind, it helps to be realistic and setting goals that reflect the time and effort you can put into them. We are currently traveling for work, and will be away from our home. True, we are currently staying in a Victorian mansion, but most of the stuff in it isn’t ours… so we probably shouldn’t try and sell it…right? We did bring a few small items with us specifically to sell online, so we will keep our goal for June/ July (we don’t get back till mid- July) at an appropriately sized $60.

As always we’ll keep you posted with our progress. Wish us luck, and be sure to follow us to know as soon as we post an update.

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