Friday, December 30, 2016

Happy Holidays and New Years.....I'm still here (and some financial results)

Hi all!
Sorry its been so long since I've posted. A good bit of depression set in early October and that's been an issue the last few months (my previous therapist called it chronic severe depression....not sure how accurate that is). Work has been crazy busy and not much time to post let alone blog.

It's so great to have the credit card paid off. If nothing else is accomplished this year, I am a happy girl. Hubby and I are sitting down tonight to make money goals for the new year.

I knew going into the holiday buying season, Amazon was missing "giftable" items. We have mostly focused on "practical items" as they sell consistently year round. However, I was more worried about paying off the credit card faster so I didn't invest in inventory the way I should have.

My eBay store was lacking new items (both new in package and newly listed). I'm down to an all time low of 300 items. It's not because I lack items to list but rather time/motivation.

We have decided to close down the Etsy store at least for now. I marked everything down 50-75% and it generated some sales. As the listings expire I won't be renewing them. The beads that I have been selling for the last 2-3 years are finally almost gone.

I believe I didn't post October or Novembers Sales Numbers. I'm going to post the abridged version
October:
ebay 827.56
amazon 2545.20
etsy 21.95
fb 532.55
other 40

income 3967.28

costs of goods sold 913.58

outgo 3305.12

profit 662.16

November:
ebay 7736.53
amazon 1828.42
etsy 8.54
fb 75.25

income 2685.74
costs of good sold 512.86

outgo 1795.86

profit 889.88

Thankful that we are turning profit regularly now. In 2016 I started January with a loss of 354.76 due to excessive sourcing. I'm hoping to avoid that pitfall this year. We are almost out of Amazon FBA inventory so it feels largely like starting from scratch. Thanks to eBay's supplies coupon quarterly, I am spending much less on supplies. Now that we are paid off the card, I am determined to spend the couple dollars more on "nicer" supplies (like for FBA bags that already have the suffocation warning label printed on it).

So just for fun....here are some eBay resale bombs for me.
+ A couple years ago I bought 400 ties. I still have 350. Very close to donating
+ When Kmart went out of business in June, I bought 50 or so pair of slippers for 2 each. I sold 3 pairs.
+ American Girl is no longer elite. It's sold at Kohls, Toys r Us and their are several pop up stores. The old stuff is still collectible. I have an entire tub stuffed full that I forced myself to list before the holidays. I still have 95% of it.

I will continue to post when I can/when I feel like it. I do enjoy reading all my blog friends posts though :D I will be back later in the week to look at 2016 goals make 2017 goals and December results. 

Wednesday, December 7, 2016

WE ARE DEBT FREE!!!!!

ok, so not our personal accounts so much yet but there's hope now, but our business is completely 100% debt free!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


We started 2016 with over $16,000 in credit card debt to our business (a horrible story I don't wish to rehash  but most of it is posted within this blog in the last couple years). Sadly we ended up in default on it due to low sales, medical issues, not listing enough, sourcing too much, a 28% interest rate plus fees, etc. and ended up working with a collector but I made my last payment this morning!!


To those who have followed my journey, thank you all so much for your kind words of encouragement throughout the journey.....they all did mean so much to me.

Now that we have that burden off our back, we are excited to save more, give more, pay off our personal credit cards faster, do some much needed home improvements, and probably my favorite, enroll our kids back in gymnastics :D