Money For Nothing Challenge!!

FunBrum

I still haven't had the time to pop to our local Designer Dress Shop yet to sell my SIL clobber!:o I was trying to come up with the first £1, and so pottered around the house and picked up all the loose change that my DS seems to drop about. It came to £1.12 :j Yippee! So I'm in! Not very impressive, I know, compared to you guys, but it's a start.:rotfl: :rotfl: And it was free. Or maybe stealing?!:D :rotfl:

Can I buy stuff that I have bought with my 'free' money, to sell for this challenge? Does anyone know?

eaglesrjh

couple of questions, firstly i take it when selling we are all taking off our fees etc and if an item does not sell rembering to take the fees out of our kitty!

Secondly maybe a bit O.T.T but if you are buying to sell, even from car boots and charity shops dont you have to register with the tax man as this makes you a business?

cheers
Richard

ehallett

eaglesrjh wrote: »

couple of questions, firstly i take it when selling we are all taking off our fees etc and if an item does not sell rembering to take the fees out of our kitty!

Secondly maybe a bit O.T.T but if you are buying to sell, even from car boots and charity shops dont you have to register with the tax man as this makes you a business?

cheers
Richard

Hi Richard

Yeah, when selling, take the fees out of your profit and if something you list doesn't sell then you have to pay the fees out of your running total. Also the item you are selling needs to be something that didn't cost you anything in the first place.

With the tax thing, I would say that a lot of people go around the boot sales etc to find some bargains and sell them on for profit, but I am sure that they don't all register for tax. Not saying that this is right, however when only selling a few bits on Ebay (and not 100s a week!!) then I don't see that as a problem.

Although it is up to people in the challenge whether they want to register or not. I am already registered for other things so this doesn't really effect me.

Good luck

Emily

ehallett

FunBrum wrote: »

I still haven't had the time to pop to our local Designer Dress Shop yet to sell my SIL clobber!:o I was trying to come up with the first £1, and so pottered around the house and picked up all the loose change that my DS seems to drop about. It came to £1.12 :j Yippee! So I'm in! Not very impressive, I know, compared to you guys, but it's a start.:rotfl: :rotfl: And it was free. Or maybe stealing?!:D :rotfl:

Can I buy stuff that I have bought with my 'free' money, to sell for this challenge? Does anyone know?

I have been buying stuff from Ebay to sell on at a profit (hopefully!). All from my free money too .

Emily x

ehallett

kashton wrote: »

i deposited £20 on a bigo site and managed to make a withdraw for 78.78, does that mean i can add another £58 to my total?

Did the £20 come out of your free money? If so then yes you can count the £58 .

Emily

ehallett

How is everyone doing? As a guide, today's target was £2 of free money.

I haven't done anything else for this challenge so far. I've still got to pick up my Avon goodies (not had the time ).

I've got a Nike t-shirt that I won to sell on Ebay so will list that tomorrow and add that to my free money when it sells. Will try to collect my Avon items during the next couple of days.

Emily x

Horse_Owner

Just sold a book on Amazon that was a freebie so another £1 to the total

I really must get around to adding up and updating sig

ehallett

I am going to collect my Avon items on Wednesday so will definitely be selling them by the end of the week to try and double my money. Might look round the charity shops if I get time

Emily x

ehallett

I've collected my Avon items and I think I can get £1-£2 for each as they are all brand new. So I spent £7.19 on 13 items (plus a few free samples). Even if I sell them for £1 each then I have made just under £6 profit but I think I can probably get that up to £10 profit as some of the items are worth more than £1.

Will take them into work tomorrow to see if anyone wants any of it. I don't really want to list them on Ebay as the fees will just eat into my profit. I've put an ad on Gumtree to see if that will get any buyers. Failing that, I could sell them at a carboot (when the weather bucks up a bit!!). Need to get them shifted soon though so that I can use the money for something else.

I am still on £12 then but will hopefully be up to over £20 by the end of the week .

Emily x

dawnylou

Still just £8 here, but still over target...