Misc

I flipped

And walked away with money and a realisation.

Space Godzilla figure

Apart from the usual “More freelancer news” section below, today’s newsletter is only tangentially related to freelancing.

4 years ago, I came across this Space Godzilla figure at a flea market:

Space Godzilla figure

I did some on-the-spot Googling and figured it might be worth something. So, I bought it for $5.

And this week, I sold it to a buyer for $85. 🤑

(It might be worth more than that)

I’ve made a few other successful flips in the past, but after this transaction, I was thinking about how I didn’t want to do this again.

Making that sweet profit was awesome, but I had to keep Godzilla for 4 years before I finally managed to sell it.

(I’m not connected to the Godzilla community, so while I made some initial effort to promote the item in some Facebook groups, I stopped doing so shortly after)

And the experience just reminded me that I don’t like to hold physical inventory of stuff. Like, what if it doesn’t move? I’d be stuck with it and might even have to pay to continue holding it.

Just like how when I went for the recent Pokémon Worlds in Japan, the limited-edition Yokohama card deck was in hot demand. People were buying them to try and flip them for a profit afterwards:

Online product listings for the Yokohama Worlds sealed deck, with prices ranging from S$315 to S$450

(The deck’s original retail price was 3,500 yen, or about S$32 then. And you could buy only one deck each time you entered the store)

So, this is one reason why I like freelancing.

You’re selling services, not physical items for which you have to hold inventory. And you don’t have to incur costs in buying and storing these products, either.

I like digital products for the same reason too. Plus, the fact that you can create something once and repeatedly sell it forever is amazing.

I’ve had some success with selling digital products like ebooks and in 2024, I’m itching to try making more revenue via non-freelancing sources.

What will these be? Only time will tell…

…but flipping will not be one of them. 😂

More freelancer news

How to legally pay less income tax as a self-employed person

This Business Times article shares ways of (legally) reducing the income tax you pay next year. Some of these methods apply to both employees and self-employed persons. Such as:

  • Claiming tax deductions for charity donations
  • Claiming utility bill charges if you’ve been working from home (proof of bills before and after WFH needed)
  • Topping up your (or your family members’) CPF accounts

You’ll need to do some of these before the year ends because the income tax you pay next year is based on your income and deductions from 1 Jan to 31 Dec this year.

And if you’re self-employed, you can also claim deductions for business expenses—provided you have their receipts. So don’t throw these away!

Gig workers are worried about rising costs

Insurance company Singlife surveyed 500 platform workers to learn their financial concerns.

Among other things, the survey found that:

  • 4 in 5 of these platform workers surveyed earn up to $4,000 a month (before expenses like rental)
  • Only 19% of the platform workers surveyed reported being able to meet their monthly savings goals after paying their bills
  • 62% of platform workers surveyed were concerned with the rising costs of daily expenses

Learn more findings (and download the full report) here.

This post was first published in my email newsletter on 23 Nov 2023. If you liked it, you can sign up for my newsletter here:

Tan Siew Ann
I’m a freelance writer for some of the most amazing software businesses in the world. On this blog, I share tips on how you, too, can run a sustainable and meaningful freelance business. Let’s forge your freedom. 💪

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