Shall i take the risk

foreverblue1978

Hi everyone, I am new to the forum although have been looking about for a little while.
I have about £3000 on a Natwest Credit card - i am known as a rate tart i think :rotfl:

My question is, is it worth Speculating to accumulate?

I have been looking around some Catalogue clearance websites and tempted to purchase about £400 worth of items to resell on Ebay/ other. With a view of doubling the investment if possible.

I am worried that I won't sell it all and be stuck with it and maybe better to spend the £400 on paying off the debt!

What’s peoples thoughts?

Snaggles

I would say that as with any kind of speculative transaction, you should only gamble what you can afford to lose, so it would really depend on what your financial circumstances are. If it went wrong, could you comfortably wave goodbye to £400? Also, there may be tax implications involved here too - if you sell your own possessions on ebay then you are not liable for tax, but I think you could be if you are actually buying items and then selling them to make a profit. Might be worth seeing if anyone else can clarify this?

bargainbetty

I'm with Snagglepuss - if you can comfortably afford it to go wrong, then knock yourself out. However, I have had a few lousy results on Ebay recently, as people are wiseing up and using better bidding techniques.

Do you have to spend £400? Why not start a bit smaller and see how it goes. You would have to check out the tax implications too, as business profits would be treated differently from personal sales.

Good luck, whatever you do
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