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Do I ever know that! Three-fourths of the listings are overpriced; half of those are insanely overpriced. That's why I do auction listings with a reasonable starting price and no reserve. I don't want to relist an item umpteen times like many sellers do; if an item runs twice without selling, I reduce the price.
Do I ever know that! Three-fourths of the listings are overpriced; half of those are insanely overpriced. That's why I do auction listings with a reasonable starting price and no reserve. I don't want to relist an item umpteen times like many sellers do; if an item runs twice without selling, I reduce the price.
Are you listing items now? If not, when was the last time you sold any of your items on ebay?
Most of my items sell the first time and about half of the remainder sell the second time. Some of these items will have, say, three bidders at price N and one bidder at 3N. Starting an auction at opening bid N is poor selling strategy as it leaves money on the table because the winning bidder will get it for considerably less than the 3N they are willing to pay. But if I list it at say 2N, it goes unsold if that high bidder is on vacation and doesn't see the listing.
Are you listing items now? If not, when was the last time you sold any of your items on ebay?
It's been a month since I've sold anything because my photo source is temporarily unavailable. But I do check out the current listings almost every day, so I'm following what's selling and at what price.
Let's take a look at the debt snow-ball. He recommends paying off the smallest debts first so one feels some "accomplishment." However, any logically thinking person would start tackling the highest interest rate loans first. Why would someone pay off a $5000 student loan at 5%, before starting to tackle their $10,000 credit card debt at 20%?
His response is If you were this good in math you wouldn't be here.
His response is If you were this good in math you wouldn't be here.
That's a pithy yet appropriate response. Debt snowballs address the psychological weight of oppressive debt. Feelings of success bolster confidence and encourage the debt holders to stick with it. Of course it doesn't make logical financial sense, but people who end up in such a mess are often emotional spenders. His system works to counter that issue by using emotion to the debt holder's advantage.
His response is If you were this good in math you wouldn't be here.
His response would be that personal finance has a large psychological component, hence paying off debts in order from smallest to largest provides milestones and thus an encouraging sense of accomplishment along the way.
There are plenty of people who are good at math yet have low earnings.
People do follow his plan to a T but people should remember that it is just advice. You don't need to step in each square he lays down. He does mention that from time to time but he believes in his baby steps and they do work for most people seeking help.
His main beliefs are...
NO DEBT AT ALL
Live on a budget
Save and invest
Give, Give , Give.
But it's more than just the P&I payment. You also have to factor in PMI, maintenance, HOA dues, property taxes, insurance, repairs, renovations, your own time, and, in some cases, costs associated with immobility such as long commute caused by job relocation, or forgone income due to inability to relocate to a city with a better position.
Very true. I currently rent a first floor apartment about a 1/2 mile from where I work, most days I just walk. The rent includes water, garbage, sewage, and a washer & dryer. Plus when work moves me again like they did 3 months ago I just break the lease, pack a uHaul, and go.
Quote:
Originally Posted by ringwise
Why would the stuff not even have value now? Beanie Babies ring a bell?
Truth. The place I volunteer at sells the ones people donate for a dollar or two ... and that's if they still have the tag on them. The money raised goes to help troubled kids in ID. I think they make a lot more off donated furniture.
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