Thursday, February 02, 2012

the $10 business :: double or nothing- investment #2

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The $10 business is a financial experiment I’m doing based on Matthew 25. My goal is to see how much $10 can become in two years! You can read more about it along with the “rules” here, and catch up on older posts here.

Last week’s summary: $10 turned into $34.60

And this week: the second investment of the $10 business- a brand new with tags Fossil Reissue Weekender Bag:

The investment cost? $21.64. I bought it at Goodwill as a department store return/reject. It was beautiful!

I listed it on eBay, mentioned any flaws it had {one tiny little slice in the handle}, and sold it for $129 with free shipping!

The total fees for eBay, Paypal, and shipping were $29.01, so the total profit was:

$129-$29.01 {fees}-$21.64 {cost of item} = $78.35 profit! {all other taxes will be subtracted at the end of the year for simplicity here on the blog}


$10 business account balance as of Jan. 26, 2012: $34.64

$10 business account balance as of February 2, 2012: $112.99

So basically, in two transactions, my business account went from $10 to $112.99! I was thrilled with this week’s progress! I’d love to keep that pace- but I guess we will have to wait and see how it all turns out. ;)

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21 comments:

Jessica said...

I'm going to have to start a $10 business. What a wonderful start you are having.

Dina said...

I just have to ask...what is wrong with the person who gave a brand new Fossil bag to Goodwill in the first place?! I love that you are doing this, it's made me see monetary value all around that I can start to sell online! Thanks!!

Renee C. said...

This is too cool. It would take a Challenge like This to make me spend $22 for a bag at goodwill. For some reason I get extra cheap there...though $22 at a department store is awesome for Fossil. I can't wait to watch your money grow!

feedingthisfamily said...

Holy crud! Pun intended...I do believe God would say...Good investment!

Kirsten said...

Oh my goodness, that is so awesome!!! You have inspired me to look around my house and sell some stuff on ebay. Praise God for YOU!!!!

Joanna said...

Oh wow that is awesome! You're making me want to start a 10 dollar business! :) can't wait to hear more.

Kimberly Bonham said...

Nice job! Way to go!

Erica Frisk said...

So awesome. My hubby was actually inspired by this. ;P

molly said...

I am jealous of your Goodwill. All the ones within 50 miles of me are lousy and expensive. It is rare for me to find great deals. keep it up, I am enjoying this adventure.

Kelly Munger said...

I've been keeping a close eye on this project. My husband found a $20 on the side of the road while running at the end of December. It wasn't in a place where anyone would come back to look for it so he picked it up. We decided not to use it on something like going out to ice cream or something (much to our boys dismay!) We've held onto it, trying to decide what to do with it that will be pleasing to the Lord...I really like your idea. Thanks for sharing this!

Briggs_cindy said...

This sounds like something that I would like to try. I am so inspired by all your posts but this one really resonates with me. What am I doing with the talents that God has given to me. Will He say "Well done good and faithful servant." Thanks for sharing.

Haile said...

just discovered your blog a few days ago. love it - you're an inspiration. thank you.

Michelle Wimp said...

awesome! you are rocking it momma!

Kristal said...

OK... so how do you learn what is a good buy?? I'd never know that a fossil was worth that...

Great job.

Heidi (Dearlylovedmist) said...

This is so great! Way to go!

Jennifer said...

Congratulations, I am so inspired by you. I love your “what I wore this week I want to lo” I’m losing weight. (I want to lose 10lb to get my figure back). And also planning to start” the $10 business.”

Anna Nichols said...

girl, this is so inspiring!! :)

Stephanie said...

Wonderful idea! I love your blog.

Jenniferkindle said...

awesome!!!

Cara Wolf2008 said...

I love this idea! You have got great Goodwill. We have a new one opening in one of the nicer parts of town so I hope that it is better than the ones we currently have. I have found plenty at our current ones (but it was things purchased for myself and my children, no real big ticket items, but just clothes or shoes that i bought because I myself liked them).
I may have to follow your lead and see what I can do!

mandyBH said...

I really love purses. :D

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