Friday, September 17, 2010

Making money challenge - update

How’s everyone doing the making money challenge? It’s not too late to join. You can join anytime and possibly win $100 cash!

Well, my first attempt at turning $100 into more did not go well. I bought a few things for $6 to list on eBay. Things that usually sell really well, but this time did not. So I lost on eBay fees as well. So I lost $9.27 total. Thankfully the 3 things I bought are 3 things I will use anyway. I had watchers so I am considering relisting.

I have “invested” $10 in something I am working on, which I will tell you more about later. Hopefully it will go well. I am just working things out with it, but hope to implement it once I move, so not for another month.

I am planning my garage/in house sale. I still need to sort a bit more, but part of my $100 will go to advertising it.

I have a couple of other little projects I have been working on which I hope to have ready next week.

I bought a few books from an op shop for $1 ea and listed them on Fishpond. It costs nothing to list on there, just make sure you select the box to have it paid into your account, not your fishpond account, or you will have to use the money to buy books. The best ever one I sold on there was a book I got for $24.95 on Oztion and sold on Fishpond for $85. It was a beauty text book.

What else are you doing to turn your $100 into more? Have you bought things to resell? Looked at doing an eBook? Starting your own site/blog? Investing in learning? Making stuff to sell at markets/online? Have you used the money to advertise yourself for services such as lawn mowing/mending/ironing/cleaning? Or maybe you used it to advertise a room in your house for rent or space in your garage for storage?

Don’t forget when it comes to selling online you can use facebook, madeit, etsy, oztion, eBay, gumtree, your local classifieds and I am sure there’s more! It’s not just eBay out there.

Check out 70+ ways to make money from home, 1001 ways to make money and ways to make money for ideas.

Remember to keep us updated! Good luck with it.

Oh, and you can do it for longer than the competition. It’d be interesting to see how much we can all turn that $100 into after 12months. How far do you think you can take it?

3 comments :

  1. I did one of these challenges on a board and we started this year. I didn't have $100 so just started off selling things from my house and going from there. Now have a couple of thousand dollars from it.

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  2. It's nice to win over the challenges that we have set for ourself. Gaining financial success is practically a long road that needs all the hardwork and time management. The update proves that you are dealing with the challenge in just great job of developing effective ways.

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  3. I started with $0 since I didn't have the $100 cash but now I'm at $97 with another $40 on the way and a sale happening in a couple of week so hopefully more coming in then! Woohoo I feel rich =)

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