I’m going to take a break from my usual “reselling” posts to talk about one of the additional ways college students and/or college graduates can take to pay off their student loans. After all, paying off student loan debt is what this blog is about.
Back in September, I cashed in the remaining $893.42 I had left from my Americorps educational award in order to completely eliminate one of my student loans. If you read that particular post (found here), then you would know that my goal for the month of September was to put an additional $1,500 towards my student loans, but I wound up doing more — to the tune of $2,463.42. My original intentions were to save that $893.42 for a rainy day if I ever decided to go back to college to further my education or to take a class that interested me, but looking at how close I was to completely paying off a loan caused me to pull the trigger a little early and use the money to knock out debt.
While I hope that my usual readers get something out of this post, I should note that this post is actually geared towards those of you who are looking for additional ways to pay off (or down) your student loans. I have been getting a lot of search engine traffic to this blog from searches related to earning extra money to pay off student loans and I realize that I only talk about one of the ways to do that which is via reselling low cost items for profit.
Now, you have two options.
I noticed that a lot of the posts I’ve written lately seem to focus on books. In an effort not to brand myself as someone that only sells books through Amazon’s FBA program, I thought I would take the time out to go through my past sales and pick out some odd items that I have sold. Selling these types of items helps my bottom line. I’m hesitant to refer to them as “bread and butter” items, but in essence that’s kind of what they are and you would be surprised at how often I find them and how often they sell.
When I use the phrase “uncommon” or “odd,” I am not referring to the item itself, but rather the fact that you don’t hear too many people talking about selling these types of items. The general consensus that I get from other FBA sellers that thrift for inventory is that books, media, and board games are the extent of what they look for. You are doing yourself a disservice if you only limit yourself to just those categories.
The next time you’re out thrifting and you’re upset because you can’t find anything worth selling, hopefully this post will help inspire you to step out of your comfort zone. 🙂
#1: Do you ever check the health and personal care aisle at your local thrift store? I found this beauty sitting on the shelf still new in its sealed package and priced at $1.98. It just so happens that its color tag was 25% off on that particular day so that made it even more of a steal.
If you were not already aware, fourth quarter (Q4) is here! It actually started on October 1st. In preparation for my first Q4 selling on Amazon, I took a lot of steps in September to prepare for this buying season which included stocking up on shipping supplies, making sure I was approved to merchant fulfill toys, and even applying for at least one gated category on Amazon (a process that is still a work in progress).
What exactly does all of this have to do with my income report and student loan update?
In short, I’m praying that all of the steps I took last month in preparation for Q4 will help me make a huge dent in my student loans. I would love to pay those pesky loans off by my birthday (January 2015), but even if I don’t, I want to at least cut my balance in half with the help of holiday sales.
Now is the time to really kick things into high gear and for that reason, I’m going to keep this post relatively short so I can get back to scouting, listing and shipping.
As I preface in all of my income reports, the figures that I report below are from part-time re-selling (anywhere from 2 to 10 hours per week). My first and full-time job is my family and my home. Re-selling is something that I do on the side to help make accelerated payments towards my student loans. I have no intentions of turning this into a full-time career — I just want to pay off my loans and enjoy a little treasure hunting while I’m at it. With that in mind, if you can dedicate full-time hours to re-selling, your numbers will in all likelihood be higher than those that I report on this blog.