Post #1 - Background & Invitation to Become an Amazon Seller
Post #2 - Quasi-Hyperbolic Discounting
Post #3 - Left-Digit Bias (below!)
Post #4 - Condition Notes (still drafting, sorry)
+ECON isn't just a YouTube channel, it's also a 5-star rated seller on Amazon!
My religion thinks intelligent financial stewardship is important, so a financial adviser was asked to teach a class on a random Sunday at the chapel I was attending several months ago. My father is an accountant, so I'd heard most of it before; I never pay interest or fees on credit cards or bank accounts, but reap all the cash rewards I can (for reals, I've made maybe $1k on opening bonuses, etc.) and I'm generally a conservative spender.
There was, however, something I hadn't really heard before: the adviser told us he tells his clients to go on treasure hunts. Basically just look around your house for stuff you don't need or use and sell it anyway you can. My wife and I took this to heart and even had a competition to see who could make the most money over four months. In striving to win this competition, I not only learned how to become an Amazon Seller, I feel I've mastered the pricing games on Amazon, even more so than many of the big pros :-)
I've recovered several hundred dollars on textbooks, electronics, and other junk I had laying around. Not only have I recovered cash locked in depreciating assets that I'll never use again (be honest with yourself, you'll never open any of your textbooks again and the longer you hold onto them, the more outdated they become!). I've even started using Amazon's Price Checker app to decide if free/cheap stuff is worth taking to sell - using the Price Checker to see the selling prices of books, I made about a hundred bucks from a pile of books I rifled through that a professor was throwing out.
Let me offer any friends reading this two things:
- If you have textbooks or (certain) electronics, give them to me and I'll sell them for you on my 5-star rated seller account. Some friends have just given me stuff they don't want, but I'd honestly rather share the profits with you. Earlier this week, a friend gave me a stack of textbooks he's had in his trunk for months (maybe years?!) - within 48 hours, three have sold and we're both happy ;-)
- If you'd like to sell your own stuff, you should! I'll have another post soon with some tips on pricing and advertising...
After my post with tips, I'll have a third post on this type of stuff and "prospect theory" - whoot! In the meantime, I hope everyone goes on a treasure hunt, gets some money out of their junk, and tells me about it - cheers!
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