August 2015 Goals and Plans

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It has been a while since I’ve done a post reviewing my monthly and yearly goals. I made some goals for June and never got around to reviewing how I did on those goals. The fact that I pretty much forgot what those goals were gives you a pretty idea how I did.  I didn’t even bother making any goals for July since I knew I wouldn’t meet them. When I’m working full-time I don’t accomplish anything outside of the job. There has been a lack of progress on my yearly goals as well.

My yearly goals are are to keep my expenses under $1k a month, run a 5k in under 23:59, and be able to do one pull-up. If you don’t count medical expenses I’ve been doing pretty well at keeping my expenses under $1k a month. I’m doing okay on that goal.

I’m doing terrible on my other two goals. If I had to run a 5k today I would probably be slower than I would have been at the beginning of the year. I need to get into a routine or running regularly. It has been too hot to run outside. That isn’t much of an excuse though since we do have a treadmill in the basement. I do find running on the treadmill boring, but I need to do it anyway if I’m going to make any progress on my 5k goal. Although I doubt it is possible for me to make this goal by the end of the year I’d still consider this goal a partial success if I could considerably improve my 5k time. A new goal of running a 5k under 30 minutes is probably more realistic.

My arms might be slightly stronger, but I’m a long way from being able to do a pull-up.  I did buy some dumbbells back in June and have been using them semi-regularly. I need to buy some new weights since I’ve maxed out on the weights that came with the dumbbell set. I seriously doubt I’ll be able to do a pull-up by the end of the year. I’m not sure what I could set as a new goal in place of this goal.

I’m only setting one goal for this month since it is a big goal for me. This month I intend to give up drinking soda. I already tried to do this a couple of times last month, but gave up when the caffeine withdrawal headaches and other symptoms hit. I just started a new attempt at quitting soda this weekend and woke up with a terrible headache and body aches this morning. I drank some tea to get some caffeine which has lessened my aches although it hasn’t cured them. My plan for quitting this time is rather than quitting cold turkey I’ll cut down to one 12 oz soda a day for a week or two in order to hopefully reduce the withdrawal symptoms when I quit the soda completely. I’ve been having sleep, fatigue, and digestive problems which I’m thinking are probably caused at least in part from my large intake of soda.

I have a tentative plan to start a roughly one-month hike on the Appalachian Trail on August 25th. If my health and finances permit me to hike than I will hike. The hike should allow me to lose weight which will be helpful in making progress towards my 5k and pull-up goals. Being in the woods without regular access to convenience stores and fast-food should also make it easier to give up soda.

If you have any tips on how I could make better progress on my goals I’d love to hear them.

July Income – $2311.68

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Here is a breakdown of my income for July.

Online Income $71.80
Interest $1.13
Cash Back $11.10
Amazon FBA $156.53
Uber $0
Mystery Shop $13
Job $2058.12
Total $2311.68

July was a good income month. This was due to my document review job that I worked the end of June and the first two and half weeks of July.  I had to take some time off of that job for my dental implant surgery. This job is project based and I may return to it after my Portland trip and hiking trip if they have another project for me to work on.

I would prefer to make the majority of my income from my alternative income sources, but I haven’t been very successful at doing that yet. I didn’t have any Uber income last month since it didn’t make since to make low pay at Uber when I could work more hours at my document review job which pays roughly double what I make from Uber.

My Amazon FBA income is starting to pick up.  Although my profit wasn’t that high this was actually my highest income month from FBA. My profit was low because I bought a label printer, labels, a barcode scanner, and upgraded to a profession account. Although these expenses brought my profit down for July I believe they will result in higher profits in the coming months. I sold at least one item every day last week and I have a lot more inventory for sale than I’ve ever had before. This should result in August being a new high FBA income month. I have a long ways to go before this replaces my job income, but I do believe it is possible.

 

 

July Expenses – $3745.91

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Here is a breakdown of my expenses for July.

Household $410
Entertainment $0
Transportation $90
Food $105.94
Student Loan $183.86
Travel $61.40
Phone $36.79
Health $2857.92
Total $3745.91

 

My July expense were rather high. This was due for paying for my dental implant surgery which was an expected expense. Other than that my expenses were fairly typical and were just slightly over my $1000 a month target.

I will still have to have at least one more oral surgery since I need three implants and they only placed one. I’m hoping the other two will be placed at the same time. I have already paid for all three implants so I shouldn’t have any more dental expenses for a while. Unfortunately, I will have another medical expense in September or October. I was scheduled to have a biopsy in June, but the doctor wasn’t available on the scheduled date and canceled the appointment. I decided not to reschedule the biopsy, but I’ve since been persuaded that it would be wise to have it done and I’m thinking I’ll be able to schedule it for sometime in September.

Entertainment expenses came in at $0 which is the first time I think I’ve ever had that happen. We went to the movies a couple of times using free gift cards.  The main reason this category is $0 though is because the local casinos have been generous in supplying us with free slot play and free meal credit. This provided us with free entertainment and even made us a little money as well.  The casinos will eventually figure out that we’re only playing the free money and not using our own money. Until then we will get all we can out of their comps.

My health expense should return to normal this month. We are traveling to Portland for four days later this month and at the end of the month I will begin an extended hiking trip. The airfare for both of these trips has already been paid so these trips shouldn’t add too much expense to the travel category. Other than those exceptions my expenses this month should be about the same as last month.

Flippy Friday – Ipad Air 2 16gb

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apple ipad air 2Welcome to the latest edition of Flippy Friday where I share one of the items I recently flipped through the Amazon FBA program. This week’s item is  the Apple Ipad Air 2 16GB. Ipads are great products to flip because they sell quickly. I don’t normally like to spend this much money on one item to flip, but I make an exception for iPads since they are quick sellers.

This opportunity became available when Target had these iPads on sale for $399. These iPads were going for about $445 on Amazon. Although the Target price was $45 cheaper than Amazon once you added in sales tax and Amazon fees this would have been a small money loser.  Fortunately, Target also had a Cartwheel deal for 10% off iPads which could be applied to the sales price of the iPads. This brought the before tax price down to $359. Once tax was added I ended up paying $388.19 for my iPad.  It sold the day it arrived at Amazon for $449. After fees I made $32.88 on this flip. That isn’t too bad for less than an hours work.

I also bought a second iPad using discounted Target gift cards. The cards were 7.5% off which just about covered the sales tax. This resulted in an almost $60 profit on the second iPad.  I also received 2% cashback on my credit card that I used to purchase the discounted gift cards. Although I don’t break my shipping cost down per item I know that the credit card cashback was easily enough to cover my shipping cost.

Many FBA sellers don’t like to bother with items with this small of a profit margin. I think it is worthwhile selling a more expensive item even though the margin is smaller since it still results in nice dollar amount profit. It would have been possible to use the Cartwheel discount four times. After my iPads sold so quickly I was wishing I had purchased a couple more. For now, I don’t want to take the risk of spending too much money on one item. I can’t have my cash flow tied up for too long and there is always a possibility that the price will drop dramatically after I’ve purchased the items. I’m happy with the profit I made on these two iPads and wish I was able to find deals like this more often.

How I’m Currently Saving 20% on Gas

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fuelgauge Last month I wrote a post on how I get quadruple savings on gas. Since then I remembered another method I sometimes use to save on gas. This method is actually simpler for me and results in savings of over 10% based on current gas prices.

This saving method is to spend $50 or more at Kmart. When you spend $50 or more at Kmart they will issue you a coupon for 30 cents off a gallon of gas that is good at participating BP, Shell, Speedway and Kmart Express locations. You need to be a Shop Your Way rewards member to receive the coupon. Only BP and Shell are in my area and I’ve only redeemed coupons at BP so I’m not sure how the process works at locations other than BP. At BP the coupon is good for a purchase of up to 20 gallons. Since my car’s tank won’t hold 20 gallons I don’t have to worry about going over this limit.

To redeem the coupon I’ve always gone inside the gas station and let the cashier add the discount to my gas purchase. Using the coupon is easy if the BP cashier knows how to redeem it. The cashiers often seem confused at how to redeem the coupon. Luckily, so far there has always been a more knowledgeable cashier available to figure the transaction out. The nice thing about this coupon is that your percentage savings grow bigger when the price of gas goes down. Currently our local gas price is $2.69 a gallon which is a savings of 11.15% per gallon. That is a pretty good percentage savings for only having to make one relatively small purchase.

Since I’ve been reselling stuff on Amazon I’ve been buying stuff to resell for the $50 purchase requirement. If you don’t have anything to buy at Kmart you could buy a $50 BP gas card there to meet the purchase requirement. It has been a while since I’ve met the purchase requirement by purchasing gift cards so I’m not certain that it still works, but it used to work. If anybody knows if gift cards still work to meet the purchase requirement please leave a comment.

I was able to combine the discounted BP gas card I got on eBay with this promotion to get an over 20% savings on gas. Now that I’ve used up that gas card I’ve figured out another way to get 20% savings on gas. This method will only work for those who were lucky enough to enroll in Discover Card’s double cashback promotion*.  Discover is currently offering 5% cashback on up to $1500 worth of purchases at home improvement stores. By buying a BP gas card at Lowes I’ll get a total of 10% cashback. I’ll get 5% now and another 5% in the 13th month of the promotion period. Combining this 10% cashback with the over 10% savings from the Kmart coupon I’m able to save over 20% on gas purchases. If you have a Kmart in your are you should give this deal a try.

 

* Discover is currently offering a $50 bonus when you sign up through a referral email. If you’re interested in signing up for the Discover card leave me a comment and I’ll send you a referral email. I’ll get $50 for referring you as well so any referrals are greatly appreciated.