Last Monday, I asked you about acceptable profits on eBay, either in dollar amount or percentage. I received some great responses, but the one that really brought it home for me was from Jen at Jen Spends. She said she “…generally think in terms of the hourly rate rather than a dollar amount or percentage. It takes time to hunt the items down, photograph them, list them, etc. And the fees now are horrible! I had a work-at-home job for a while that paid $13.50 per hour, and I generally won’t bother with money-making schemes that will pay less than that.”
That makes perfect sense. I most certainly did NOT make $13.50 an hour selling this sign, and it was not worth my time to do so. I guess I will be sticking to selling snowboards during the fall and winter.
I did hear some successful stories about selling a car on eBay Motors, and sadly, one story of being scammed out of around $75.
The bottom line was, if it doesn’t seem like it was worth it, it wasn’t. Unless it is useless stuff sitting around your house collecting dust. In that case, getting anything for it rather than just donating it to the thrift store was a good profit.
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OK, now on to round two of our periodic Monday morning Ask the Readers question.
Mr. 1500 guest-posted on Johnny Moneyseed a few weeks back. (If you missed it, here it is.) One of the comments was from Shannon Ryan of The Heavy Purse. She said:
“…Money should work for you, not the other way around. Whether it’s your investments – and congrats on a killer year – or being used on things that you truly love. …”
This got me thinking about Mr. 1500’s newest bike. He has been riding his original mountain bike for longer than I have known him, which is upwards of 12 years. He finally broke down and bought a new mountain bike, after agonizing over spending a sizeable sum on said bike. He looked at different options, including buying a used bike from a store that rents them out. He finally was able to find the exact bike he was looking for, but it ended up costing him $1,000. (I thought it was $5,000, and when he proofread this, he said to me in a very agitated tone, “YOU THOUGHT I SPENT $5,000 ON A BIKE???) He bought it on eBay, after a thorough grilling of the seller to make sure it had not been stolen.
Some of you may look at that amount and say “It’s just a bike. They sell them at Walmart for $250.” Well, yes and no. First and foremost, we don’t shop at Walmart (another, very long blog post for another time) and second, the bike he bought was fairly high-end. It is far lighter than those Wal-Mart monstrosities, and the ride is much smoother. When you are going over rocks and tree stumps, a smooth ride is important. (Mr. 1500 chips in again: Bicycle rear suspension is sophisticated. The suspension on cheapo bikes is worthless.)
So back to this week’s question. What do you spend money on? What product or service do you feel is worth good money for?
I spend a lot of money on my coin collection. I like them alot and they make me happy. Hunting for that perfect coin is such a thrill. I guess I get the added bonus that someday my collection might be worth more than I paid (not going to hold my breathe and I also don’t care if it is). Other than that I spend good money on running shoes. Got my first real pair this year and it does make a world of difference and I cannot see myself going cheap here ever again.
Coins, any gold?
Running shoes are definitely worth it. Anything that prevents an injury and makes you exercise more can’t be argued with in my book.
I do have some gold, but not as much as I want. I posted yesterday over at budgets are sexy that I regret not buying more 10 years ago. I said it there and I mean it, it is not because of the run up in price, but because it is now to pricey to add pieces I want for my collection.
So for the time being I will work on adding silver pieces (and some copper) to fill out my collection while continuing to save for some of the older gold coins I thought were too expensive before.
You could have added some last week and done pretty well too! Did you catch this story about the DPRK gold coins? http://online.wsj.com/article/SB10001424127887323361804578388430027290880.html
For me it’s running – the races, some gear, travel to get to them, etc. It all adds up, but it’s time that I love and experiences I don’t know how to replace, so to me it’s worth it.
Mrs PoP @ Planting Our Pennies recently posted…Can I Get Rich By Sharing My Stuff?
If you have to spend money on one thing, health is it. I’ve said it before; who cares if you have all the money in the world if you’re not healthy and don’t have quality of life. Health trumps everything.
I spend money on high quality food (ingredients for cooking as well as dining out) and travel. Both are worth it to me, but I know there are people that think I am crazy.
I would say vacations. I don’t really get ‘staycations’. I do support and go to regional recreational activities but I don’t understand why you’d stay at a hotel a few miles from your house. It seems like a waste of money when you’re trying to ‘save money.’ And really, I don’t get the thrill of staying in a hotel anyway – maybe if you don’t travel for work ever (I do) or if you’re 6. I don’t know. . . I know people love them. For me, I want a REAL vacation – preferably in a place that requires me to board a plane to get to. . .
“…I don’t get the thrill of staying in a hotel anyway – maybe if you don’t travel for work ever (I do) or if you’re 6….”
SO funny. Both my girls (3 and 6) LOVE staying in hotels. We are going away this weekend and the girls are so excited about staying in a hotel! With a pool! Life just doesn’t get any better than that for them.
I don’t understand staycations, either. I certainly wouldn’t pay to stay at a hotel near my house. That is just wasteful. If you are going to do the local attractions, do them from home.
Ooh, I was quoted! Thanks! 🙂
I could provide a whole list of things I spend on, but I’ll narrow it down to “hobbies”.
For me it’s home improvement/decorating. I love beautiful spaces, and try to do what I can to make my home look fabulous. We don’t have a lot of money to spend, though, so I have to be creative while not skimping on quality.
For my husband, it’s homebrewing. I was apprehensive at first, but I realized he never spends money on himself, and he is really enjoying his new hobby. Once he purchased the initial equipment, the cost of ingredients hasn’t been too bad. Who knows, maybe he’ll profit from it someday.
There are many colleges that are offering brewing classes, because the microbrewery industry is booming. If he gets really good, he could open his own brewery and make millions! (Of barrels of beer…)
Have you tried thrift stores for unique decorating items? I just discovered HomeGoods, owned by the same people as TJ Maxx with the same idea, but for decorating. Amazing prices on glass items such as vases.
Oh yes, I love thrifting! The selection tends to be kind of bleak around where I live, but once in a while I find some treasures.
I love my bikes and I’m way healthier as a result. Health is priceless!
Travel – or activity that will create lasting memories. B and I went hot air ballooning last summer through a Groupon deal. It was amazing and made possible because we don’t have expensive habits. I sock away $100 per month into a travel fund, so that we can see more of the world. We try to travel on a budget to make our dollars go far.
Tina @ My Shiny Pennies recently posted…What are You Willing to Do for Money?
Like others have said, travel is the big one. But I still try to get the most trip for the $ by using frequent flyer miles, airbnb, and any other deals I can find, while avoiding tourist traps if I can help it.
Travel! And sometimes food.
eemusings recently posted…Funding our RTW trip
I try to look at purchases in terms of total cost of ownership and cost per use. I don’t mind spending a bit more on good quality, classic clothing and good shoes because they’ll last longer and I’ll get more use out of them (therefore a lower cost per use).
When I bought my car, I spent a little more at the outset for a reliable car because I knew in terms of maintenance and repairs it would be less expensive in the long run (therefore a lower total cost of ownership.)
And I second the comment above about hair 😉 I don’t have the right kind of hair to DIY so a good cut is worth it to me!
I completely agree with paying a little more for quality.
I don’t ever go cheap on running shoes. I don’t spend a lot of money either, but I do budget $60 for a good pair of Adidas trail running shoes. I, also, spend money on getting a good laptop, Macbook air. I did shop around, and got a really good deal though. But it was still pricier than getting a regular PC. I spend a lot of time on computer and wanted a nice experience this time around.
I recently bought a bike on Craigslist for $160 and it’s in great shape and a quality model. The best part about it was that it was a legitimate sale, so I didn’t have to worry about riding around on some kid’s missing birthday present. I personally wouldn’t spend $1000 on a bike, but I can understand why so I wouldn’t fault you for it. I hate Walmart with a fiery passion, and their bikes definitely leave something to be desired (like quality).
I spend my money on travel, but I don’t do just throw caution (and money) to the wind when I travel. I plan out the financial details meticulously beforehand, and try to get the best deals everywhere. If we end up spending a little more than planned while we’re on our trip then who cares really? If we didn’t set out a travel budget at all we’d spend money like regular people!
Johnny Moneyseed recently posted…Earning “Free” Money, Five Cents at a Time
Travel seems to be a popular theme. I wonder where the money is being spent during the travel. Is it just spending money to travel in general? We do that, and I think it is important to see other parts of the world.
But I think we are like you, JM. We seek out inexpensive hotels, rental cars, plane fare, etc. We register for groupon and living social deals in the area so we can get discounts on dining and attractions. (Yelp the dining first. Sometimes those discount-offering restaurants aren’t worth going to.)
I will spend money on books that I love. And I read them over and over and over. I know there’s the library but there’s nothing like looking at your collection with naked adoration. The trick is collecting only your favorite books.
And vacations! I will spend good money on quality travel time.
Ms. D recently posted…Financial Goals: April Update
I got caught up in book buying, as well. Although, once again, I would buy most books from the thrift store. Like John Grisham. I can read him 1000 times over. Ditto Michael Crichton. Good storytellers. No, great storytellers!
What do I not spend money on??? Joking aside, I’ve gone frugal on many things but I do spend money on my hair. I buy cheaper salon brand shampoo but it’s still salon shampoo and I still get nice haircuts, I just don’t cut my hair as often 😛
Girl Meets Debt recently posted…Talking About Student Loan Debt
If you have difficult hair, or even just long hair, you do need to use better products on them to keep them looking nice. But that crap from the salon about getting a cut every 6 weeks is just baloney.
I spend my money on whatever makes sense to me. Sometimes If I need something it may require that I don’t go full out and spend a fortune and other times I go straight for quality. I often say you get what you pay for so if we want high-end we save for it or wait until we can get a good deal.
Canadianbudgetbinder recently posted…Junk To Funk: Some Woman Down The Road Left Me With Hardwood
Travel, when done frugally, seems to be the most lasting investment for us.
Like most, travel, food, and family. But I like what you said about health. So yeah, that should be one of my priorities.
KC @ genxfinance recently posted…Being Broke Sucks, But It Forces You to get Creative
I spend my money on clothes. I don’t buy particularly expensive clothes but I quality clothing that fits me well and lasts me a long time. As I have gotten older I find the value of a good suit can go a long way in making a positive first impression. Being well dressed and groomed is not something I overlook.
Kevin Watts @Graduatingfromdebt recently posted…High Student Loans Delinquency Rate- Causes and Effect
Travel. I just got back from 10 days in Peru (Cusco, the Sacred Valley, Machu Picchu). I’ve been fortunate to have been able to travel through central Europe (Czech Republic, Poland, Slovakia, Hungary, Romania), Australia, Canada, Jordan and most of the US including Hawaii and Puerto Rico. I save >$100 every other week so I can do a nice trip every other year. There are just so many great places to see.
Holy cow, you’ve had some great adventures. Someday, I’ll follow in your footsteps! We need to talk.
“There are just so many great places to see.”
This is something I think about all the time actually. There are so many awesome places. I would like to just wander the world for a year or 2 with zero plans.
PS: I think you were the 1st one to ever comment on this blog, unless there are 2 “Bernies”…
I spend extra money on items that I use every single day, such as the bed. I have to sleep on it every night so I’m willing to invest some extra on it.
+1 for Travel.
Whether it’s short weekend trips or long international trips, I just LOVE to travel. Still trying to figure out how to make traveling my day job 🙂
Mrs. Herb recently posted…Chicken Parmigiana
Mrs. Herb, I am so with you on this one! One thing Mrs. 1500 and I often talk about are the trips we’ll take when we retire. Just in America, there are so many great things to see.
I have cable tv and I am not ashamed.
jane savers @ solving the money puzzle recently posted…50% Solution And April Financial Update (It’s More Exciting Than It Sounds)
My first mountain bike came from Sears. I almost quit biking because I thought I was that bad. I met my husband, a total gear snob. (He used to work for Yeti when they were in Durango) He convinced me to buy a mid level Trek, and then suddenly I was pretty good at mountain biking. It’s hard to do Colorado trails on a crappy, heavy bike. We also have decent skis and we spend money on that. It’s pricey, but you have to do something in the winter, right?
Kim@Eyesonthedollar recently posted…Are You in the Habit of Wasting Money?