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My Challenge is Losing Money Already!

January 11th, 2007 at 07:07 pm

After getting a better understanding of the $20 Challenge and it's various incarnations, I'm going to make a few changes

1. Only going to count NEW sources of income generated from the $20 start up money and the resources I have at my disposal. That means personal chef money is out, hearing testing money is out. I track my earnings in Quicken, so if I want to know how much money I've earned from all sources it's easy enough to figure out without counting it in the $20 Challenge.

2. I am going to count Half.com and eBay sales since the New Year. Technically, I made my first (ever) sale on eBay and Half.com in mid-December 2006, but it's still all really new to me. Along this line, for bookkeeping purposes, I probably shouldn't have deducted the fees and upfront costs from my first eBay sale of 2007 since the $20 is start up money. However, for simplicity's sake, I am going to always list the net profit and just let the $20 start up sit as it's own line.

So, my NEW $20 dollar challenge total is: $ 357.48 (the last total - $75)

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