Clearing my overdraft
I have a short term ambition – to clear my overdraft which has over the years seen me go £1500 into the red on a frequent basis.
Now that I’m no longer self employed and receiving a regular wage – there is simply no excuse for hitting the red by the middle of each month.
Last month I managed to scrimp my way to a £500 monthly surplus – as I had some back paid work expenses hit my bank account and I’m expecting a further £300 this coming month to come back my way.
That’s going to leave me another £700 to find to get back to staying in credit/in the black at the end of each month.
Today is the 19th August – my ambition is to raise as much extra money as I can by my next pay day on the 20th September by selling off my unused sporting equipment and other assorted goods and junk. Anything I make that’s in excess of the amount needed to clear my overdraft by the 20th September (payday) is going to be put into a new stock/futures trading account.
Ebay is my preferred way of selling off my unwanted stuff – I’ve tried out a few car boot sales over the years and find them to be very frustrating – people make ridiculously low offers on things that I’m trying to sell, I always drive out feeling as though I’ve given my stuff away.
Even though the fees from Ebay/paypal when combined hit about 20% of the sale price of my stuff – at least I feel as though I will be able to set a fair price.
So lets see how I get on – and I will keep updating this page for the next month showing what I’ve sold and how much I’ve received for it.
(current value of investment account £1600)