Have you ever wondered where people get the things that they sell on eBay or Half.com? Have you ever stalked an item on eBay? My wife used to desperately want a crystal Tiffany’s iconic blue box. For weeks, I stalked the item on eBay in order to get it for her for Christmas one year. I was barely able to find it in time. I almost had to pay full price for the crystal box.
Have you ever seen items in stores that you know are selling for a higher price on eBay? Have you ever seen items on a website that you know sell for a higher price on eBay? You can profit on that difference in price parity. It is called arbitrage.
What Is Arbitrage?
Arbitrage is usually talked about in currency circles of finance and economics. There are often times when different countries’ currencies are not priced correctly. Let me give you a simple example. If the United States’ dollar is worth 1.5 Canadian dollars and one US dollar is worth ten Mexican Pesos, if a Canadian dollar does not equal 15 Mexican pesos, then there is a currency arbitrage.
I was walking around Target the other day when I ran across this shelf of piggybanks that are featured on this picture. And, I just had to snap this picture. I wondered if having a personalized piggybank will help inspire you to save more money. I have a jar sitting on my dresser that says “casino money” right on the front of it. It is one of many that you can buy that lists what your savings goal is. I have seen others that say things like “new car”, “down payment”, “vacation”, etc. Mine just happens to say “Casino Money” because I have a secret addiction to Las Vegas and Blackjack (now you know a little something extra about me!).
What do you measure in your life? Do you count calories? Do you count how many visitors check out your website everyday (or every hour if you are me)? You should be counting things in your life.
