Is eBay a real way to make money or just a hobby?
I've been selling old stuff on eBay and making decent money. I'm thinking about doing it full time — buying wholesale and reselling. Is this a viable business? How much do successful eBay sellers make? Do I need to pay taxes on eBay income? What about shipping costs — do buyers usually pay for shipping?
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3 Answers
The biggest financial mistake I see people make is not having an emergency fund. Before investing, before paying extra on debt, save 3-6 months of expenses in a savings account. This protects you from going into debt when unexpected things happen.
Read 'The Millionaire Next Door' and 'A Random Walk Down Wall Street.' Those two books taught me more about money than anything else. The library has them for free. Most people who look rich are actually drowning in debt — real wealth is quiet.
If your employer offers a 401k match, contribute at LEAST enough to get the full match. That's free money — like a 100% instant return. Skipping the match is leaving thousands of dollars on the table every single year. Do that before anything else.
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