When I started out this blog, my goal was to talk all about eBay. Well, after almost 2 years, I’ve realized that I’ve expanded that a bit. I’ve broadened my scope with some of my “musings” which can still be applied to eBay, as well as to other parts of life.
As with most things though, your first pass will evolve over time. You’ll want to make adjustments as you get new information or change your perspective and goals.
Be flexible with your goals
Now though, I want to talk about why I even re-sell on eBay (other than it being ridiculously fun and productive).
The profits from re-selling online were first geared towards fully funding my Roth IRA ($5,500).
Then we moved to another state and bought a house. With this big life change, we re-directed the funds towards replacing our water heater, furnace, and HVAC. Life happened, and we rolled with the punches and tried to fit into our new role as homeowners.
As time went by in our new house, we realized that our home warranty which was included in the sale was about to expire. There were a couple things that had been on our “to look into” list. So, we figured we might as well have a few nagging problems checked out. If they turned out to be major issues, we’d still be under the warranty.
Two different technicians came out (for our warranty you had to pay $100 per trade visit and each item required a separate visit). One of the technicians was able to reprogram our washer and told us that the large vibrations were actually normal.
The 2nd technician was able to give us a new thermostat. He also looked checked out our HVAC and furnace. With these visits out of the way and our equipment tested for any major issues, we felt a bit more reassurance.
With all of these positive vibes, we took a small risk and decided to divert the funds we had been saving from eBay sales from HVAC replacements to new doors (which was also something we needed to do).
Our old ones were drafty even with new weather-stripping (and we HATE drafty doors like the ones in our old apartment). All said and done, we got a new storm door in the front, a new entry door and storm door on the deck, and a sliding door in the walkout basement.
But don’t throw those goals out
You’ll notice that I didn’t say “we splurged and went on vacation with all that money we saved up.” We made an investment into our home (which we’ll be able to deduct from our taxes), we’ll save money on heating, and we knocked off one of our “to do” projects. You know the big ones that you never have enough money for at the end of the month?
So now we’re back on the wagon and saving back up for our ancient furnace replacement. After that, who knows. Maybe the deck? New kitchen counter tops?
Although we re-directed our funds, we remained on-point in how we spent them (i.e., large, needed home improvement projects). We didn’t just throw the money away. Instead, we made a conscious decision to change where this money was going to be spent.
Finally, I just want to note how awesome it is that we got all of these improvements using ONLY re-selling profits. This hobby has let me translate our money into tangible assets that improve the value of our home and our experience living in it, all while not having to touch our regular income!