Category: Money

My First Month on Poshmark | Sales, Stats, & More!

Posted on by Adventures in Polishland

This past month, I embarked on a new adventure by joining Poshmark. While I was aware of this website for a long time, I was inspired to finally sign up for my own account thanks to YouTubers Lisa Stevens and The Deal Queen. These two women got me so excited about the idea of selling on Poshmark that I had to try it for myself! I joined on February 2, 2020, and listed a bunch of my old clothing that I had recently decluttered from my wardrobe. I was amazed at how quickly the notifications came pouring in, and I became sucked into the app right away. Today I want to share with you how my first month on Poshmark went in terms of sales, stats, and what I’ve learned so far.

I first want to mention why I joined Poshmark in the first place. For the past year, I’ve been looking for a side hustle that I can keep up with despite having a full time job that keeps me away from home over 60 hours a week. I do have an Etsy shop, but I haven’t had much luck with sales, and handmade items take a long time to produce. I’ve also dabbled in flipping used books for profit, but I’ve found the profit margin to be quite low. When I began learning about how profitable selling on Poshmark can be, I figured I would give it a try. My goal with Poshmark is to earn a respectable side income by selling pre-owned fashion. Not only is it a great way to keep clothing from ending up in a landfill, but it’s a lot of fun as well!

My First Sales

The majority of the items I had for sale in my Poshmark Closet in my first month were items that I was decluttering. My parents also gave me some items they decluttered as well. I was extremely excited to make seven sales in my first month! After Poshmark fees, I made a total of $71.41. While that may not sound like a lot, that is pure profit since these were items I already had lying around the house. I’ve also learned that a sale on Poshmark is considered quick when it is made in the first week or two. Thus, to move seven items in my first month is pretty good!

Additionally, I have started going to the thrift store on the weekends to purchase items to resell. So far, I’ve found some pieces I really like, but I haven’t made any sales of thrifted items yet. I’m hopeful that I can continue to reinvest the money I make on Poshmark into sourcing great fashion items. That way, I can build my inventory and reach more buyers. I typically spend 2-3 hours thrifting on the weekend, and I take all of my product photos on the weekend as well.

My Posh Stats

One of the most surprising aspects of Poshmark has been the amount of followers one gets on the platform. I have averaged 1,000 followers per week, and ended my first month at over 4,300 followers. I wish Instagram worked like this! It’s my understanding that more followers doesn’t necessarily equate more sales. However, I find that following people is a great way to make connections on the app. There are some people I interact with regularly in my feed, and it’s nice to follow them and share their items daily. Having all of these followers is pretty exciting, and I’m interested to see if this growth continues.

Moreover, one of my goals for the near future is to reach Posh Ambassador status. Apparently, the Posh Ambassador program gives you a boost in the algorithm of some sort. I actually am very close to becoming a Posh Ambassador! I think being active on the app really helps not only with sales, but with learning the ins and outs of the Poshmark community as well. It’s important to engage with the community, and not just list your items and hope they sell.

Things I’m Learning

While I’m very happy with my progress so far, I do have a lot to learn about the Poshmark and reselling world. First and foremost, I need to learn more about fashion. I’ll be the first to admit I am not a fashionista. I do not know many trends or hot brands, so I have been watching a lot of YouTube videos to try and learn more. Right now I’m loving Empty Hanger!

Similarly, I am learning more about how to price items, when to make offers to those who Like my items, and when to accept or reject an offer. Since Poshmark does have a system based on negotiating, it can be difficult to know how to price things. I’ve been trying to give myself a bit of wiggle room, but at the same time list things at what I believe is a good price. In the same way, I’ve found that low-ball offers are to be expected on Poshmark, and you need to be prepared for them. My biggest surprise was someone who made me an offer that was 55% off my asking price! I politely submitted a counteroffer. I absolutely love negotiating (it’s my favorite part of my day job!), so I am always excited to get an offer in my Closet.

Finally, I think the key to success in the Poshmark app is being an active member. I aim to share my entire closet three times per day. I also participate in Posh Parties whenever I can. While a party has never lead to a direct sale for me, it’s a great way to meet other active users in the app. I also try to list items as frequently as possible, even if that means only one item per day. I don’t spend my entire day glued to the app, but I definitely check in when I can. I also utilize my social media like Facebook and Instagram to promote my Closet. You never know who will click through to your Closet and purchase something!

In the end, I am so excited that I finally joined Poshmark, and I look forward to seeing my growth. If you’ve been considering it for a long time as well, I highly recommend joining the app. Perhaps start just as I did by decluttering your own closet! You can use my referral code ADVINPOLISHLAND when you sign up to get a $10.00 credit towards your first purchase. Please let me know in the comments your thoughts on Poshmark. Do you sell or buy on Poshmark? Do you want me to share an update on my progress? Please let me know!

Visit my Poshmark Closet HERE

Everything I Bought in February | #LivingWithLess

Posted on by Adventures in Polishland

February has come to a close, and it’s time to share with you every non-consumable item that I purchased during the month. If you missed my first post in this series, I highly recommend reading that to learn more about why I am sharing all of my purchases this year. Overall, I hope that by sharing what I buy it will help me to see how much I’m spending, what I’m buying, and if I can look back and think every purchase was a good one for me. My goal is to buy only what I truly want and need, and not excess items that will just add clutter to my life. I am amazed with myself this month, because I only purchased two non-consumable items in all of February!

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I am slowly building up the reusable items in my home, and I finally purchased some cloth napkins. I found this pack of Mill Valley Bistro 100% Cotton Napkins at Homesense on clearance for $10.00. I chose this brand simply because it wasn’t packaged in a plastic bag like the others they had for sale! I’m excited to use these napkins and make the transition from paper to cloth. I am not able to find this exact brand of napkins online, but there are many similar items on Amazon.

The other item I purchased in February was the book Auntie Loves You! written by Helen Foster James and illustrated by Petra Brown. I sent this book to my niece and nephew for Valentine’s Day. This book is absolutely adorable, and I think it’s worth the $12.50 I spent on it. I live far away from my niece and nephew, so I think it’s nice for them to have this book to look at even when we cannot spend time together in person.

What’s funny about February is that I did have a few more items on my list of things to buy, but I just didn’t get to them! I was getting over a bad respiratory virus at the beginning of the month, and I never made it out to the store. Hopefully in March I will grab the things I need so I can share them with you!

How I Use the Cash Envelope System for Monthly Spending

Posted on by Adventures in Polishland

While I’m not a financial expert, I absolutely love budgeting. In fact, telling my money what to do brings me a great deal of joy. I’ve wanted to share my budget on the blog for a while now, but I have a bit of a convoluted system. I thought the easiest way I could share some of my money managing strategies would be in separate posts on the different aspects of my budget. Thus, today I will be sharing with you how I use the Cash Envelope System for my monthly spending. I first learned of this budgeting technique through a variety of online content creators. I know that this system was popularized by a well-known debt-free guru, but I do not follow or agree with his overall budgeting method. Instead, I put my own spin on the Cash Envelope System, and I’m excited to share how I’ve used it to my advantage over the past two years.

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If you’ve never before heard of the Cash Envelope System, it is quite self-explanatory. Every month, I withdraw cash from the bank to use as my spending money. The idea behind this system is that it helps to hold you accountable for how much money you are spending. For example, if you budget $100.00 per month for groceries, you only get that $100.00, and once you run out of cash you’re done spending. As someone who used to rarely use cash and rely on debit or credit cards, I know first hand how easy it is to swipe that card without paying attention to how much I was spending. I knew the Cash Envelope System would force me to spend my money intentionally. This was especially important when I drafted a budget focused primarily on my savings goals, and less on spending.

As mentioned above, I’ve used the Cash Envelope System for my monthly spending for about two years now. I use cash for those categories where it makes sense for me to have money on-hand at all times. The categories I use for my cash envelopes are: Food, Household Expenses, Gifts and Christmas, Clothing, Charity, and Fun. I also withdraw money to pay my cell phone bill in cash every month, as I am on a family plan and pay the account holder directly. If you plan on using the Cash Envelope System, your categories do not have to match mine. Do you pay a babysitter regularly? Do you have pets for whom you are caring? Think about where you spend your money the most frequently, and pick the categories that make sense for you.

It’s not surprising that the Cash Envelope System has both avid fans and harsh criticizers. As with any type of money management, we all have to do what works best for our unique situation. That’s why I take what I like most about the Cash Envelope System, and I make it work for me. I am pretty relaxed with what can often be a strict method. For example, I do not carry around a lot of cash with me. Many critics of the Cash Envelope System will mention how dangerous it is to carry around large amounts of cash. I agree, and I typically only have a small portion of my Food budget, my Fun budget, and my Household Expenses budget in my wallet at any given time. By keeping the rest of my cash in a secure location, I not only reduce spending temptations, but I feel more secure.

If I find myself out and about without the cash from a certain envelope, I’ll just use a card and pay myself back in cash later. For instance, if I end up buying a $20.00 gift for someone on my card, I’ll take $20.00 out of my Gifts and Christmas envelope, and put that in an envelope I mark Deposit to Checking. I will either deposit that money back into my bank account at the end of the month, or use it as a credit towards next month’s withdrawal. I am able to do this because I am one month ahead on my bills, and because I keep a small buffer in my checking account. If you are new to the Cash Envelope System, be extremely careful about doing this. While it can be confusing to keep track of the cash at first, I got used to it in time.

If you are concerned about the hassle of going to the bank regularly, I highly recommend adopting an extra envelope called Next Month’s Cash. This does require you to get one month ahead on your bills, but it means you only have to go to the bank once per month. When I first adapted the Cash Envelope System, I went to the bank every two weeks when I got paid. This got old really quickly for me, so I rearranged my budget in a way that allows me to withdraw all the cash I need for the next month in one transaction. That way I don’t have to worry about running to the bank on the first of the month. Instead, I go when it is convenient.

Moreover, I do want to acknowledge that the Cash Envelope System works really well for me because I am only budgeting for myself. If you are budgeting with a partner or for a larger family, this will be more complicated. Not only will you have more cash to manage, but you may need to discuss divvying up the cash with your partner. If your budget is for more than one person, you may consider the Digital Envelope System. I recommend this blog post from Pennies To Wealth for more information.

Furthermore, when it comes to supplies for the Cash Envelope System, I suggest keeping it very simple. Many bloggers will talk about the specialty wallets they purchased, or the fancy envelopes they print out each month. Since my goal is to reduce my spending, I don’t purchase any supplies. I’ve used the same set of plain white Mead Envelopes since I started this system, and my wallet is the same faux leather one I purchased at Forever 21 in 2015. I do think it’s helpful if your wallet has a few different sections to stash cash, but please don’t feel compelled to buy anything new unless it’s truly needed.

In the end, I hope you found this blog post on how I use the Cash Envelope System helpful. I personally love shopping with physical money every month. Holding the cash in my hands truly does help me budget smarter and spend wiser. If you are someone who struggles with overspending or purchasing items you don’t need, I think giving the Cash Envelope System a try can be very beneficial. If you already use this system, I would love to know your experience with it in the comments.

Everything I Bought in January | #LivingWithLess

Posted on by Adventures in Polishland

A couple years ago I saw a post from my friend Jill over at @a.little.less.waste on Instagram that really inspired me. In her photo, Jill shares a list of all her purchases for the month of January, and she notes it is her goal to record all non-consumable purchases for the year. I absolutely loved this idea, and it’s been something I’ve thought about ever since. This year, I hope to record all of my non-consumable purchases as well, and I thought it would be fun to share them on the blog. In this post, I will share why I want to keep track of the things I buy, as well as everything I purchased in the month of January.

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As this is my first post in this series, I thought it would be helpful to let you know the three main reasons I have for recording my purchases. First, I would like to be more aware of how I am spending my money. While I do have a detailed budget, I have found that it can be extremely useful to keep track of exactly what I’m buying so that I can have a better idea of not only how much I am spending, but how much I should set aside for future purchases. For example, last year I made two purchases at Who Gives a Crap, and this year I’ve set aside money for those two orders in my Annual Expenses savings account.

Moreover, I also want to record my purchases so I can be aware of the physical items I am bringing into my space. I’ve talked many times about how much I love the KonMari method. Now that I am living with a lot less physical possessions, I would like to keep it that way. I truly have come to learn that tangible things do not equal happiness and fulfillment. That is especially true with shopping and instant gratification. I hope that by documenting what I buy, I can look back at the end of the year and see if I regret any of my purchases.

Finally, I also want to make sure I am buying things with the environment in mind. This means shopping secondhand whenever possible, being conscious of the materials I’m purchasing, and thinking about the life each item has before it gets deposited into a landfill. I also hope to increase my reusables over the course of this year!

My January Purchases

Stock images are courtesy of lordandtaylor.com

With all of that said, let’s jump into the things I did buy in January. In 2019, all of the clothing purchases I made, with the exception of shoes, were from the thrift store. I try really hard not to buy new clothes, but I struggle when it comes to my work wardrobe and with winter items. Thus, I did go to Lord & Taylor in January to purchase a few pieces.

I ended up with a warm sweater from Jessica Simpson, a beautiful blouse from Jones New York, and a pair of black pants from En Thread. I’ve already worn all three items a couple times, and I’m really happy with them. If you have to buy fast fashion pieces, I think it’s helpful to focus on items that you will wear often and that will stand the test of time. I choose to buy from Lord & Taylor because the brands this store carries are great quality. I have many pieces that have lasted me several years. I also hit up the clearance sales for extra savings. I spent a total of $72.29 on all three pieces.

The only other item I purchased in January was a bar of LUSH Aromaco Deodorant. While I was at the mall buying the clothes, I decided to hop on over to LUSH and stock up on deodorant since I am running low. This bar cost me $5.73, and it will last me a whole lot longer than a traditional stick deodorant in a plastic tube. If you’d like to read my full thoughts on this product, you can read my review. If I planned better for this purchase, I would have brought my deodorant container to the store so I didn’t need the paper wrapper. That being said, this is still a great, plastic free option!

Overall, I am happy with my purchases in January. While I would prefer to not shop fast fashion at all, I know that I’ve looked for black work pants for over a year at thrift stores without much luck. It comes down to reducing what I buy new, and I’ve definitely done that over the past few years. I am actually amazed with myself that I only purchased four non-consumable items last month. I’m sure there will be some months where I buy many more things. My goal here isn’t to have any sort of minimalist contest with myself or anyone else, but to be more conscious of what I buy. It will be interesting to see the journey!