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November 2015 Profits – Stupid Expenses

Dollar Flipper Profits 4 Comments

For any new readers, I (mostly) post my numbers every month. I try to keep myself grounded. If you’re interested in my older monthly update posts, check them out here.

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My Bluehost server is the one towards the back on the right.

November was a pretty good month for me. There was some poor planning on my part which is inexcusable since we use


Oct-15 Nov-15Total YTD
Income
Blog Referral29.22110.20233.26
Sales1,847.021374.8612,312.40
Shipping Income27.3415.54405.81
Sales Tax Collected5.100.005.10
Returns0.000.00-355.45
Expense
eBay Fees168.53141.581,314.57
PayPal Fees65.3152.67440.18
Shipping Costs250.09119.531,594.62
Cost of Goods Sold138.0051.001,482.59
Mileage9.207.26130.13
Travel Expenses0.000.001.00
Utilities21.2815.94269.36
Amazon Fees2.795.90128.66
Office Supplies23.310.00133.33
Office Expense0.00630.451,005.39
Advertising0.0066.00152.00
Other Expenses0.000.0050.75
Profit / Loss1,230.17410.275,898.54

So $410.27. Profits-wise, this isn’t a strong month, but sales-wise, we were really good (3rd highest sales this year – only August and October beat it out). I guess I should clarify too. “Stupid” expenses didn’t bring down my profits for the month. Expenses that I didn’t plan for did. So I’m the stupid one!

Blog Income

I finally got a payout from Google Adsense! I’ve had it on my blog for a long time, but they don’t make payouts until you hit the $100 mark. And once you hit that, they pull out taxes and then wait until you hit the $100 again. Either way, the extra money was nice since it covers some of the costs of this website!


Speaking of website costs…

Office Expense

Well well well. What the hell happened here?

Unexpected Poorly planned for expenses. There were 4 “big” ones.

  1. I got a P.O. box. Honestly, this wasn’t as expensive as I thought it would be. I’m going to transition this as my mailing address for most of my accounts (eBay and Amazon and the like). I’d rather have any returns go there and be held instead of me having to worry about them sitting on my front porch. MailChimp also requires a physical address, and I wasn’t comfortable putting my home one. I definitely feel more official now though!
  2. Speaking of website costs, FlippingADollar.com has now been up for over 2 years! I migrated over to Bluehost in December 2013 and only paid for 2 years. This time, I paid out for 3 years so you’re stuck with me for at least that long or until I give up. Not nearing that yet though! 🙂Bluehost has been worth it for me. I don’t have huge amounts of traffic and the upfront cost isn’t terrible at all. Their live chat is fantastic and can check if there’s any server issues if you’re experiencing site issues. I’ve heard bad things from others back in the day, but it seems like they’ve cleaned up their act.
  3. GoDaddy Bookkeeping has a great service that’s just like Mint, except for it’s set up to integrate with your business accounts instead! This includes eBay, Etsy, and Amazon (if you have a Pro account – I don’t). It can also attach to your credit cards or check cards. In the system, you can mark expenses as personal (ignore it for business tax purposes) or categorize them. You can see how I categorize expenses above. This just spits out information for an accountant to easily do your business taxes (or you can do them yourself if you’re feeling adventurous). Either way, GoDaddy has helped me keep better track of my expenses (which probably made my profits lower this year but also lowers any tax liability).
  4. New Republic Wireless phone. A few months ago, I dropped my phone while outside in the early morning. I didn’t think anything happened until a few hours later when I noticed some cracks along the top. The phone still worked fine. I ended up using the phone until I dropped it again (this time I was holding the baby. It was either the baby or the phone… I think I made the right decision). The screen went completely blank. Uh Oh.That’s OK though, “You budgeted money for your phone. We know how you love YNAB, Chris? Right?”Nope. I didn’t have any money put to the side at all. I ended up having to re-allocate money from our furnace fund. The furnace fund isn’t already filled because we’ve been mooching for other things (like our doors), but it’s still growing.It’s actually a blessing in disguise. I took the time to check out Republic Wireless’s new plan. They have a pay you pack feature. For the first bill, you pay $10 per phone and then however much data you want. For my wife and I, this came to $45.16. The next month, they compare how much data you used on your cell network (WiFi is free) and they lessen your next bill by that much! First month in the books and we paid $23.81. FOR TWO SMART PHONES! How cool is that? Republic Wireless is just a fantastic group and I recommend it to anyone who’s looking for a cheaper option for their cell phones.

OK, now that I’m back from that tangent, I had a good November. I’m starting to plan a little better with respect to business expenses – adding in monthly chunks of $9.99 into GoDaddy Bookkeeping and Bluehost categories so it won’t hurt as much when I have to pay these again.

I’m hoping to have a strong December (although last years’ wasn’t too hot). I’ve had a few small sales already, but I figure that the coats and sweaters will start moving (I’ve already sold a few and had questions about others).

How was your November? Best sale?

P.S. I thought today was Thursday since I took off on Monday. Losing sleep for an infant just does stuff to you!

Image Credit: Cloudyn

Comments 4

  1. November has shaped up to be a rough month for me.

    I bought an old projector in great shape for $10 that works minus the bulb. Unfortunately the bulb goes for about $50 and a working projector (including the bulb) go for about $60 on eBay.

    I got another small radio, that is actually pretty cool. It’s a Minnesota Talking Book radio that has premium programming like newspapers and books read on air for registered blind people in the state of Minnesota. Unfortunately it’s illegal to sell and wont pickup a signal outside of Minnesota anyway.

    I call the $20 the price of an education I suppose.

    Also struck out on some cable knit cotton sweaters that were Chaps RL. Just not enough interest in the cotton sweaters.

    I’m hopeful that the lot of antique tools I picked up can make for a more profitable December.

    1. Post
      Author

      Oof, when it rains it pours.

      You’re definitely right about the cable knit cotton sweaters. I only have one up right now (made by Orvis) and the values were much less. I did sell a cotton CRL henley that was NWT for $50 in April. I probably would have listed it for $29.99 if it had been used. I also have one up now for $29.99 which isn’t a sweater, just a long sleeve shirt and that has a watcher, but that has CRL all over the shirt. If it was just a plain sweater without the CRL crest or anything, I’d agree that it would be tougher to sell. Are they the same size? Might be able to sell them in a lot for more and justify shipping in a flat rate box. Just a thought.

  2. Discovered your blog this morning through Twitter. Love your story! I’m in the same realm, learning to flip thrift store items in order to supplement our mortgage payment. Hoping to pay it off very early but some hustling!

    1. Post
      Author

      First, thanks! Second, that’s a great goal for the mortgage. We are trying to pay it off early, but I’d still rather be maxing out our contributions right now. I think that our middle of the road, save a bunch, put money towards our mortgage, and save all eBay profits for home improvements has been working well. In the cash department, it’d be nice if we could get more but we only list so much and have a little bit of free time to work on it. Gotta focus on what’s in my control!

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