What We did to Make an Extra $2,750 in a Month
Almost a month ago, we posted about making an extra $20k this year (mainly by ‘flipping’ items) and how you can do it.
You can read it here. (Edited, we now make $10,000 a month reselling things. Read about it here).
Disclosure – we do use affiliate links for products and services we use.
1. Sold Stuff IWeAlready Owned – $2,120
Jewellery and a few other things went for $2,120.
Selling jewellery privately with a valuation certificate will often get you the most.
Using an auction house can also secure a good amount for it.
In general, jewellery is harder to sell and overpriced to begin with.
2. Bought Things To Sell – $15
We sold 2 items ($25 total, the purchase price was $10, so $15 profit as our fees come into the postage cost).
We also got items for $2 each off a sales rack to list for next month.
3. Extra Services – $575
We did a few extra services we don’t normally do this month resulting in an extra $575.
We have a variety of skills including being a qualified hairdresser and beautician which sometimes come in handy when we have the free time and feel like it.
Total extra for my first month – $2,710
Bonus Extras
On top of the extra income, we did a few things which saved money.
Making money and saving money are both important for making your finances work.
1. Refunds – $755
We went over my expenses, services we are paying for or have paid for to cancel what we don’t need.
This resulted in $755 saved. One was a service we cancelled, then this month they deducted the service fee.
We saw it immediately and had it refunded, plus confirmed the service was cancelled. We decided to put this straight into savings.
Another part of this was a service we paid for last month for 12 months, but no longer need as we found a free alternative.
They happily refunded the remaining 11 months. The last part of the $755 was an online order we did for click and collect which did not arrive after a week.
It was meant to be for a birthday and taking over a week meant the birthday had passed.
Their customer service was atrocious both in-store and on the phone, so we won’t be ordering from them again.
2. Reduced Rent – $600
Long story, essentially, we were interstate most of this month and did not have to pay rent in Melbourne because of it.
We paid a nominal amount where we are staying but this saved another $600.
Problems This Month
We all hit a roadblock at some point. This month we had a few problems which reduced what we could do.
1. Issues in my Personal Life
Being in a different state to where you normally live makes reselling anything you bought to sell a little difficult.
Life was unpredictable and hectic this month which made listing things to sell hard.
2. Kids Around 24/7
Love the kids but having no break meant no time to do any work, reselling or similar.
This severely reduced our capacity to work at all, let alone do the flip challenge.
We managed to get some done but nowhere near what we planned.
Are you doing the 2017 Flip Challenge or another money making challenge?
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Love your site,I love the idea of Flipping I’ve tried it last year to no avail, I seem to be demographically challenged.I live in the blue mountains)
I used to live in Western Sydney. If you’re ever down St Marys, Penrith or Minchinbury there are a few good ones down there (well, there was). Queen St in Sy Marys had Anglicare (that was amazing) and Vinnies on a little side street that were great. Minchinbury Salvos had a huge bargain basement section that you could sometimes fill a bag for a few dollars etc.