See Found Money List here
Our project has been cruising along at a steady pace and our total has passed $35. We found our first paper money ($5 bill) in October. While I am amazed by the amount of money we have found, I’m even more amazed by the number of aluminum cans we come across. I see them everywhere! (It’s kind of like when you buy a black Ford and you start to see every black Ford in the city.) Understand I’m not talking about digging in trash bins… I’m talking about cans just laying in the park or by side of the street. While other people just see trash, we see two cents, and we’re proving money adds up fast.
One Saturday morning in November, I was on my way to get coffee when I came across an old beer cooler left by the dumpster. I loaded it up, got my coffee and headed to the recycle place where I collected $10.93. People may laugh at me… but it’s FREE MONEY!
- Way back when we crossed the $10.00 mark, I began to consider ways of putting this money to work. Right now it is on vacation, lounging in a square tin box on my desk. Rather than adhere to the Sister Olivia model of turning the money into Christmas gifts for nursing home residents, is it possible to get this money a job so it can begin to multiply? How far can we take it? Can we somehow turn this $10.00 into our own mini version of One Red Paperclip? I’m beginning to believe we can.
- For the sake of argument…. let’s say we start in January and risk approximately 25% of our Found Money Total to find quality items on Craigslist, yard sales, eBay, etc. and sell them at a 100% markup… i.e. double the money with every transaction. How would this play out over time (without factoring in risk?). Let’s have a look….
|Month||Item using 25% Purchase Price||Sale Price||75% Project Balance||End of Month Total|
|Jan 2014||Item A ($8.00)||$16.00||$27.00||$43.00|
|Feb 2014||Item B ($10.00)||$20.00||$33.00||$53.00|
|Mar 2014||Item C ($13.00)||$26.00||$40.00||$66.00|
|Apr 2014||Item D ($16.00)||$32.00||$50.00||$82.00|
|May 2014||Item E ($20.00)||$40.00||$62.00||$102.00|
|Jun 2014||Item F ($25.00)||$50.00||$77.00||$127.00|
|Jul 2014||Item G ($30.00)||$60.00||$97.00||$157.00|
|Aug 2014||Item H ($40.00)||$80.00||$117.00||$197.00|
|Sep 2014||Item I ($50.00)||$100.00||$147.00||$247.00|
|Oct 2014||Item J ($60.00)||$120.00||$187.00||$307.00|
|Nov 2014||Item K ($75.00)||$150.00||$232.00||$382.00|
|Dec 2014||Item L ($95.00)||$190.00||$287.00||$477.00|
So readers, I ask you – will a plan like this work? Please comment and let me hear your thoughts….