The turn £100.00 into £10.000.00+ by the end of 2010 official thread

Eyesparky

victoriaplum1 wrote: »

ok thanks for the vote of confidence! I know you are right, thats my prob thou unless I can keep it all in a pot til end of year it doesnt seem like I am doing it right.....even though there are no rules! And the chances of me keeping it are zilch.....but there was some method in my madness in that I thought pay off the ac so not incurring extra charges. Thing is now am I brave enough to pay off credit card, had just found that if I use all my savings and money in this that and other online ac I can pay off my credit card balance of 2.5k, it would leave me with no 'rainy day' pot though and that scares me. also a bit emotive this one as 1k of the money is money left to me by my grandpa recently, I wanted to buy a nice limited ed picture with part of it to give me a permanent reminder of him but maybe best to pay the bills....can hear my nan now though saying 'if you can't pay for it you shouldn't have it', she was a big non-believer in credit cards!

Leave some rainy day money if you can.

Eyesparky

Turia, I think I would have to see that to understand it

kosma1

i am a big believer in rainy day (or emergency fund in my eyes) and although i now currently owe quite a lot on credit cards due to purchasing new car on them (with 0% i hasten to add) I am not tempted to use my emergency fund, i save monthly, and since ex left nearly 12 months ago, told myself, never let it fall below x amount. If you can get your cards to a 0% you may end up better off in interst earnt on savings witht he right savings account.

Turia

hehe yeah i guess i waffle a bit..

ok tell you what, ill try and work on creating a clean version and mail it to you if you like? then perhaps can get something at a "blank stage" that other people can also use to help them get organised and can add their own bits and pieces to.

in fact, it will help me focus my energies, so i'm off to do that now!

victoriaplum1

I have my credit card on 0% for about another 7 or 8 months so got time to ponder over it, I know owing 2.5k and having same in savings means I technically have zilch but with not being in work myself at moment and with 2 young kids and other half thinking about moving jobs, the 2.5k savings feels like a safety net of sorts....which means more effort required in this challenge starting again tomorrow

skintbint_2

have found a good old fashioned accounts ledger is the best for me with my debits and credits, as i am not counting fees as i go along - i am waiting until billed, keeps it simpler and less faffing about as you may buy something which may not sell until 6 weeks later so you havent got fees/paypal etc when first listed. if bought you no longer have the money - does that make sense
(did try and do small spreadsheet /ledger in post but layout didnt work)

BFem

I've now listed a total of 27 books on greenmetropolis (its amazingly quick and easy) and a total of 4 books on ebay, woo!! Time for bed now, if theres any chance of me getting up at 7am to get to the carboot. I'll leave you kind people with your wide awake babies and small children and non existent sleep patterns to it!

Unfortuntely I dont have any ideas of the spreadsheet issue - i'm just going to keep a list of profits (and probably lots of scribbly, incorrect workings out) in a notebook!

Well done everyone!

kosma1

BFem wrote: »

I've now listed a total of 27 books on greenmetropolis (its amazingly quick and easy) and a total of 4 books on ebay, woo!! Time for bed now, if theres any chance of me getting up at 7am to get to the carboot. I'll leave you kind people with your wide awake babies and small children and non existent sleep patterns to it!

Unfortuntely I dont have any ideas of the spreadsheet issue - i'm just going to keep a list of profits (and probably lots of scribbly, incorrect workings out) in a notebook!

Well done everyone!

well done on all your listings, wish i had so many boks to list, but have always been a read them once and sell them on kind of gal, which does not leave me many for this challenge, however, visited a friend thursday, huge bookshelf full of books, my eyes lit up, lmao (is that sooo wrong?) also, my mother has had a sort out of clothes, not much but she does haev a couple of nice evening dresses that she will give me to list on ebay, was thinking 99pers as she was just gonna give them away, we have made a deal, if sold, we go 50/50

Eyesparky

I will keep spreadsheets for each major sales portal, ebay, Amazon etc with an itemisied fee indication to give an idea if I would make a profit at a particular price etc, but for accounting properly I will use the invoices and fee listing from ebay, paypal and Amazon. Turia, the difficult thing as you say is the fees as they constantly change with offers and new fee structures as the year progresses so they can become a mine field. On my Amazon sheet (work in progress) I have fees built in for books and DVDs but am happy to hack the fees for an individual item that has an offer on it etc. It is not really a safe working environment for anyone not completely happy with how it works yet .

Turia

Eyesparky, I know what you mean!

As i haven't yet managed any listings and sales on ebay ive been putting it off BUT, the intention is to go down the route you're suggesting which is one dedicated page per revenue stream (ebay/amazon/play) with each item individually listed with its income and relevant costings and fees .

anyway got a blank set up now! woohoo! (i think?!)

P.S. pm'ed you!