“eBay” Challenge Update – June/July

From following this epic eBay challenge, you know that we set our sights small for June/July. We were slightly preoccupied by moving in and out of a mansion, hosting various parties, hosting relatives, attending a conference and…oh yeah, putting together four plays in four weeks with 80+ children. Maybe it was the 6 am workouts or the extra workshop planning due to a new program structure… somehow, for once, we had a solid understanding of the limits on our free time and set a very reasonable goal of $60.

On eBay, we only sold a knife. It wasn’t enough, as after fees it clocked in at a whopping $16.91 profit. We were bummed, until looking through previous posts we realized something important: we are horrible accountants! We sold an air conditioning unit before we left town for $40… and we forgot about it! We decided to add it onto this total both to make ourselves feel better and to correct this mistake. We also “sold” a second air conditioning unit, but we are waiting to meet up with the friend who has it to get the cash, so I’m not logging it in these numbers yet. It’ll be an August bonus (we are loosey-goosey accountants at best).

This puts our total for June/July at  $56.91, which feels fairly low for a double month and doesn’t quite meet our $60 goal. We anticipated this and frankly it reflects the amount of work we put into it over this time period. But combined with our previous total of $839.63 makes a total of $896.54. It just makes sense to make our August goal $110 so that we can be over $1000 in our next update. Which will be roughly at the halfway point of this challenge… Whaaaat? Over $1000 for junk lying around our house? My brain is still having a hard time processing that.

So at the end of the day what will we do with this money? Obviously buy more stuff. Just kidding. We will invest it to get us closer to our goals of financial independence. Or rather we’ll invest 90% of it. The other 10%?

I was reading an article on Becoming Minimalist about the donate or sell dilemma. At the end of it, the author suggests: If you don’t desperately need the money, donate the possessions you are discarding. Find a local charity that you believe in, and donate there.” I both agree and disagree, but the article left me thinking that I can do better. I can afford to donate. As a result, 10% of the proceeds from this challenge will end up donated.

We’re committing to this publicly and now because if we follow our numbers, it looks like this will be at least $150 and that will be more than we have ever donated to anything at one time. Since making this decision, I’ve been extra fired up for this challenge!

Does anybody want to join us this August?

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