DISCLAIMER: I understand that the decisions I have made (that I am about to share) go very much against most budgeting methods, teachings, and consoling.
Last, last, Saturday I made a risky move and took $375 out of the $420 in my bank account and invested it into some coins on eBay. I am a coin collector and I've been out of collecting for a while and this really excited me. I thought they were something I could make money on, especially over time.
The next day is when my car started dying and the next day, Monday is when it completely died. Knowing that I needed to come up with money to fix the car or buy a new one, I knew that I needed to sell the 17 dollar coins that I had purchased for $375. I also posted a bunch of my coins on eBay as well But I didn't stop there, I invested in many more coins, over the last week or so. Yes I need to get a handle of my spending (especially since I don't have the money even though I'm planning to re-sell them in different lots and groups hopping to make profit - based on experience and research and studying what sells and what doesn't). But I also think I can make money on what I purchased. I may have bid on hundreds of coins (knowing that I'd lose most of them which was true), but I bid intentionally I bid only on specific lots and items that I was pretty sure was a good deal and I could make profit one even after eBay's high fees. It is extremely risky (and I do not recommend it) yet I am praying that God will bless the lots that I am selling.
Prior to buying any coins in the last week or two, I had $600-$1,000 worth of coins and supplies in my personal coin collection. I currently have about $700 in bids on my eBay lots and I'm hoping that goes up to at least $1,000. Once my latest purchases of coins arrive in the mail, am hoping to post them on eBay and hope and pray that they sell. Worst case scenario, I will use my upcoming paycheck to cover credit card bill, but I am going to try to do what I can to prevent that. I've spent too much out of my budget and if I allow myself get away with that without consequences, I'll be setting myself up for harm in the future. I have many good plans for saving, and investing along with structured and constructive spending. I've set many goals in YNAB (You Need A Budget) program, and I want to work to meet them and get myself back on track. If I can sell $1,000-$1,500 of coins, I can pay off my coin expenses and begin to pay the expenses on my car. Sadly, eBay does charge about a 13% fee on sales, so I'll have to work with that, but that's life. God is still good.
EXTENDED DISCLAIMER: I understand that the decisions I have made go very much against most budgeting methods, teachings, and consoling. Many would say that what I did was foolish. That may be so, but I've learned from poor past experiences that if I beat myself up because of it, I will only harm myself and will cause more destruction in my life further down the road. With that being said, that is not an excuse to spend money that I don't have. My decisions may not have been the wisest use of my money but I can testify that God is teaching and reminding me of things through this. I want to use my money wisely, though in some areas my definition of wise does not align with other's definitions. (I am not saying what I did was wise). I messed up, and I will have to deal with that. I am not perfect, NPP: No Perfect People (As Pastor Steve at Koinonia Christian Fellowship frequently says). I am praying that God will bless me through this despite my shortcomings but even more so I am praying that He will teach me through this.
Last, last, Saturday I made a risky move and took $375 out of the $420 in my bank account and invested it into some coins on eBay. I am a coin collector and I've been out of collecting for a while and this really excited me. I thought they were something I could make money on, especially over time.
The next day is when my car started dying and the next day, Monday is when it completely died. Knowing that I needed to come up with money to fix the car or buy a new one, I knew that I needed to sell the 17 dollar coins that I had purchased for $375. I also posted a bunch of my coins on eBay as well But I didn't stop there, I invested in many more coins, over the last week or so. Yes I need to get a handle of my spending (especially since I don't have the money even though I'm planning to re-sell them in different lots and groups hopping to make profit - based on experience and research and studying what sells and what doesn't). But I also think I can make money on what I purchased. I may have bid on hundreds of coins (knowing that I'd lose most of them which was true), but I bid intentionally I bid only on specific lots and items that I was pretty sure was a good deal and I could make profit one even after eBay's high fees. It is extremely risky (and I do not recommend it) yet I am praying that God will bless the lots that I am selling.
Prior to buying any coins in the last week or two, I had $600-$1,000 worth of coins and supplies in my personal coin collection. I currently have about $700 in bids on my eBay lots and I'm hoping that goes up to at least $1,000. Once my latest purchases of coins arrive in the mail, am hoping to post them on eBay and hope and pray that they sell. Worst case scenario, I will use my upcoming paycheck to cover credit card bill, but I am going to try to do what I can to prevent that. I've spent too much out of my budget and if I allow myself get away with that without consequences, I'll be setting myself up for harm in the future. I have many good plans for saving, and investing along with structured and constructive spending. I've set many goals in YNAB (You Need A Budget) program, and I want to work to meet them and get myself back on track. If I can sell $1,000-$1,500 of coins, I can pay off my coin expenses and begin to pay the expenses on my car. Sadly, eBay does charge about a 13% fee on sales, so I'll have to work with that, but that's life. God is still good.
EXTENDED DISCLAIMER: I understand that the decisions I have made go very much against most budgeting methods, teachings, and consoling. Many would say that what I did was foolish. That may be so, but I've learned from poor past experiences that if I beat myself up because of it, I will only harm myself and will cause more destruction in my life further down the road. With that being said, that is not an excuse to spend money that I don't have. My decisions may not have been the wisest use of my money but I can testify that God is teaching and reminding me of things through this. I want to use my money wisely, though in some areas my definition of wise does not align with other's definitions. (I am not saying what I did was wise). I messed up, and I will have to deal with that. I am not perfect, NPP: No Perfect People (As Pastor Steve at Koinonia Christian Fellowship frequently says). I am praying that God will bless me through this despite my shortcomings but even more so I am praying that He will teach me through this.
Praise God for His Grace!!!! Prayers for you in all your car decisions/finances!
ReplyDelete