Why I’m calling it a day with eBay

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When you’re in the early stages of decluttering, it’s very likely you’ll discover lots of near-perfect items (or ‘gently used’ ones), which easily be sold online.

From clothing and accessories to electronics or children’s toys, sites such as eBay can be a brilliant way of moving stuff along to a home where it will be used and enjoyed. Plus, you’ll make a bit of cash in the process.

For my part, I’ve been a member of eBay for almost exactly 15 years. In that time, I’ve sold far more than I’ve bought, although I have purchased a few things. And it’s true that some have been better than others….

My eBay dashboard

My eBay profile tells me that I have 284 ratings and a mint green star. When it comes to gamification, I really don’t care very much what colour it is, but that star suggests I’m doing OK.

Nonetheless, I have made some mistakes over the years. I share them here, so that you can avoid them if you’re considering selling via this channel. If you’re a well-established e-Bayer, read on and enjoy a wry smile or two at my expense!

Mistakes I’ve made

Selling

  • Wrong description  – I once listed a well-used but perfectly decent laptop, believing that the box my husband had given me was the actual box for the device. It wasn’t. Instead, I had used the box of the device that had superseded the one to be sold.Lo and behold, my poor buyer (who was tech-savvy when I am not) realised my mistake and we quickly reached an amicable solution: He kept the machine but we agreed a sensible price for what it actually was versus what I thought I’d sold….
  • Inadequate packaging – If you’re going to send something breakable, make sure you use a lot of packaging. I tried to send an Orla Kiely ceramic bread bin to a buyer.  It should have been triple-wrapped in a wodge of bubble wrap, lovingly encased in several boxes, before being parcelled up in brown paper (taped a gazillion times with sturdy parcel tape). Instead, I sent it with only scant wrapping and a prayer in would arrive in one piece. Of course, it didn’t. 

    I should have been more accomplished at this stage in my eBay career. Needless to say, my buyer was justifiably disappointed and I swiftly provided a full refund. Here’s where you get hit by a ‘double whammy;’ eBay still charged its commission.

  • Accepting a buyer’s plea to have me despatch a bulky and large item by courier was another example of ‘not a terribly good idea’. We owned an electric piano, which was already secondhand when it came to us, but we sold it for a reasonable price on the basis that this would be Collection Only.
    The problem came when I discovered our winning-bidder was in Brighton. Did she realise that Kenilworth to Brighton would be a round-trip of over 300 miles? Our buyer, however, had other ideas. If she paid, would I send the instrument? Reluctantly, I agreed to do it, but there followed a rather chaotic sequence of events.

    First of all, the piano had to be despatched in two large packages. Cue Julie Andrews singing ‘My Favourite Things’. These packages were, indeed, brown paper and tied up with string. They were also extremely heavy, exceeding both the courier’s weight and size guidelines. Still, we (buyer and me) agreed to take the risk.

    Off went the parcels and we waited to see what would happen. By some miracle, some days later – in two separate consignments – the piano arrived at its destination. It turned out my buyer had been a past contestant in the Eurovision Song Contest, so I was bemused to have been able to contribute to her potential future musical adventures.

  • Calculating postage costs can be problematic. You have to be very focussed when it comes to understanding not only weight, but also volume. eBay provides estimates and guidance on this, but you can have some ‘fun’ trying to weigh a bulky item. My usual trick is to balance a large mixing bowl on my kitchen scales, then place the item to be posted on top of that. This way, you can usually view the weight easily. Remember to weigh the item once it has been wrapped; packaging can add to weight and volume.
  • Finally, seeing other stuff to buy when I should have been focussing on the selling has also been a feature of my experience with eBay. This leads me onto Buying.

Buying

  • Getting too attached to an item is a foolhardy thing to do. Some years ago, a “pine” wardrobe – located just up the road – turned out to be a terrible bit of tat (I should have “viewed it, before bidding…). Don’t get into a bidding war. Assess your item, put in your maximum bid and walk away. If you win it, you’ll find out soon enough.

More recently, I bought something whose quality was inadequately described, resulted in a ‘to and fro’ dialogue with the seller to persuade them to accept the item as a return. To me, this felt like a case of obfuscation; the item was in very poor condition and I was dismayed to see this on unpacking it. Happily, I have been able to return it with the (reluctant) agreement of the seller. Let’s hope I get my money back!

  • Clothes can be a mixed blessing when you buy them via eBay. I do advocate second hand but I should point out that there are some caveats associated with this. There are a great many reputable commercials sellers on there (who also sell directly via their own websites) e.g. Carobethany whom you can trust, as well as many super sellers of their own stuff. Look carefully at their feedback if you’re going to buy and only purchase brands whose quality and fit you can rely on.

Taking a rain check

So, to coincide with the change of British weather, I’m taking a raincheck with eBay. For now. Since we all acquire stuff we don’t need, it’s likely I’ll return to it some time in the future. But, for moment, we’ll let the sun set over this useful but rather complex way of letting go of stuff.

What’s your best way to get rid of clutter? Do you simply let go via the charity shop or doorstep collection? Perhaps you prefer a local selling platform such as Facebook? Do please share below. It would be fantastic to know what works for you.


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My first month with EveryDollar

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I’ve written before that we follow a ‘dual account budgeting‘ approach when it comes to personal finance. This simply means running two current accounts in parallel.

One account is for all regular payments (e.g. our household standing orders and direct debits). The other is for all other “discretionary spending” for other items in the budget that will vary, so which require a higher degree of control.

Simplify your finances

By running two accounts, managing our monthly budget becomes much simpler. The first account is topped up on pay day, then it pretty much runs itself.

This leaves only the second account to manage whose spending categories are reduced to a small sub-set of headings, as follows:

  • Food/groceries
  • Transportation
  • Mobile phones (I’m on a pay-and-go arrangement, not a contract)
  • Lifestyle (costs associated with hobbies, pet care, hairdressing, clothing etc.)

So far, I’ve normally used a spreadsheet to manage our finances. However, as a regular listener to Dave Ramsey’s podcast, I was curious as to whether or not the EveryDollar app would work for us.

What’s different about EveryDollar?

EveryDollar is designed around a zero-based budget. That is, every month you decide (in advance) how you’re going to allocate money to each of your particular spending categories.

The name stems from Dave Ramsey’s approach to budgeting: if you give every dollar a name and tell your cash where to go, you’ll win with money.

In my case, I need an app called ‘EveryPound’ but that doesn’t quite have the same ring to it! So, EveryDollar it is!

Creating your budget

When creating your budget, the idea is that you input your income, then allocate your expenditure by category so that the latter totals the former. It’s a bit like a contemporary take on double-entry book keeping: both income and expenditure have to balance.

This allows you to:

  • Pay down debt
  • Allocate money for savings, including a sinking fund
  • Plan for upcoming monthly spending
  • Stick to your budget

I was already creating a zero-based budget with my own spreadsheet, but the EveryDollar app has a simple and visually-appealing user interface, so I decided to run both systems in parallel throughout March/April to see which one I preferred.

What’s a sinking fund?

One option you can select when setting your budget in the app is to establish a sinking fund. This is essentially a mini savings “pot”  for things you know you’ll be paying for at some point in the year. It’s like a virtual piggy bank.

In our case, that’s £125 per month towards the annual service for our family car (plus anything else car-related)/, as well as a fund for Christmas. I trust that £1500 in total will be more than enough for both vehicle and Santa, but we’ll see!

By establishing a sinking fund, you don’t have to raid your emergency fund if, for example, you suddenly need a complete new set of tyres. You can also budget throughout the year for bills such as a your annual travel insurance policy or car insurance (cheaper than paying monthly).

With EveryDollar, I wasn’t sure if I needed to account for the £125 as a transaction (in which case, would this be “income” or an “expense”?). So, I experimented and found that the app just accounted for the £125 going into the ‘fund’; I didn’t have to record it as a transaction at all.

A slice of the cake

Another feature of EveryDollar is that it shows you what proportion of the whole a particular budget heading represents.

So, if you’re nerdy like me and you want to check what percentage of your total budget you’re devoting to a particular category, you can check. The app tells you what proportion of the ‘cake’ you’ve planned to spend, as well as how much you have remaining. That’s esimportant if you’re paying down debt and are intentionally on a tight budget.

By splitting my expenditure across two accounts, it makes it a little more tricky to work out what I’m spending as a proportion of the whole on each category.

I had a mini moment of panic when I saw the percentage apportioned to food and groceries, but when I did the maths (across the two accounts), I was relieved to see that what I’d allocated was less than 10% of the whole.

If you’re curious what Ramsey recommends, you can find a guide on the EveryDollar website.

Linking up your accounts

One thing I can’t do is link up the EveryDollar app’ to our bank account. To do this, you need to pay for EveryDollarPlus (and I don’t believe this would work across the Pond).

Instead, I track my spending by recording a transaction every time one hits my account. This way, I can keep a close eye on that particular category and check what I’ve got left.

A new month

As the new month rolled around, you’d expect me to have done the budget for April. However, I’m waiting until pay day (the third week of the month) to prepare my budget for April/May.

I know that some EveryDollar users are comfortable running their budget to align with the calendar month, but my ‘fiscal month’ is 24th to 23rd. This means my monthly headings are going to lag behind; until 24 April, we’ll still be in “March”. Maybe that’s a good thing. It still feels like winter!

Setting an intention

Of course, one of the aims of the app is modify users’ spending habits. Right now, the jury’s out. So, I’m going to carry on with my comparison of app versus spreadsheet. Let’s see, as the rest of April unfolds.

Do you have a favourite way of managing your budget? Perhaps you use an app like EveryDollar or have tried my dual account budgeting approach. Let me know by replying to the post, below!


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