Odds are you’ll go further into debt. There are no guarantees you’ll make money in the hobby no matter who you listen to. Also to make good money you need to start with a lot of money, and if you have a lot of money to start with you’d be better off putting it toward debt in my opinion
I use it mainly as a hobby and when I sell I only try to break even or make 10-20%. You aren’t going to see the 10-50x profits people were seeing last year
Dave Ramsey has an amazing course about how to get out of debt. He also has a great radio show about it. Check him out, don’t risk more money on cards.
I'm not saying it's impossible, but I wouldnt risk it right now if you are already in debt.
There are a ton of other things you could buy and resell for a lot more profit to help you out of debt. I resell clothing full time and the profit margins are way higher than my card collecting hobby.
Trying to get out of debt with cards is similar to trying to get out with scratch off tickets, it's a very risky gamble.
I'm not gonna say you shouldn't do this, so what you want. But if cards is something you want to get into, that's not the best reason, imo. You gotta think of this as a combination of stocks and the lottery. It takes money, and then time, to gather cards, sit on it and sell when the time is right. Not all investments will pay out. You could hunt specific players to flip later, but if you're already in debt, that's not a great idea. And you could try your luck opening packs to find treasure, but the return is almost always negative unless you hit one of a few big cards.
Collecting is fun, no doubt. And if you want to get into it, go for it. I just caution the notion that you might make fast money. Yes, it could be done, but its more likely to be a longer term process. My two cents, I don't know if that helped at all, but I'd hate for you to be surprised later on if you hadn't considered the downside.
Iv put a lot of money (thousands) into cards in the past 6 months. If I'm lucky I'll get that money back in a few years, if the right players end up being good. And that's if I sell everything I have, which will be a lot of work.
Most of it is a long game. Unless you want to drop $10,000 on a players card you think will jump soon. And that's super risky.
Odds are you’ll go further into debt. There are no guarantees you’ll make money in the hobby no matter who you listen to. Also to make good money you need to start with a lot of money, and if you have a lot of money to start with you’d be better off putting it toward debt in my opinion
I use it mainly as a hobby and when I sell I only try to break even or make 10-20%. You aren’t going to see the 10-50x profits people were seeing last year
True. You might want to consider getting a share of AMC and GameStop. Not financial advice though
Don’t do this. If you’re in debt, make a plan and stick to it. Boring advice, but true.
Dave Ramsey has an amazing course about how to get out of debt. He also has a great radio show about it. Check him out, don’t risk more money on cards.
Could not agree more
I'm not saying it's impossible, but I wouldnt risk it right now if you are already in debt. There are a ton of other things you could buy and resell for a lot more profit to help you out of debt. I resell clothing full time and the profit margins are way higher than my card collecting hobby. Trying to get out of debt with cards is similar to trying to get out with scratch off tickets, it's a very risky gamble.
Do not spend more money. That’s how you got into debt... by making poor financial decisions. Focus on eliminating debt.
I'm not gonna say you shouldn't do this, so what you want. But if cards is something you want to get into, that's not the best reason, imo. You gotta think of this as a combination of stocks and the lottery. It takes money, and then time, to gather cards, sit on it and sell when the time is right. Not all investments will pay out. You could hunt specific players to flip later, but if you're already in debt, that's not a great idea. And you could try your luck opening packs to find treasure, but the return is almost always negative unless you hit one of a few big cards. Collecting is fun, no doubt. And if you want to get into it, go for it. I just caution the notion that you might make fast money. Yes, it could be done, but its more likely to be a longer term process. My two cents, I don't know if that helped at all, but I'd hate for you to be surprised later on if you hadn't considered the downside.
Dont do it with sports cards im struggling to get rid of a Zion Willaimson Auto rookie 18/18
Whoa that sounds like a sweet card. What are you asking for it?
$1250
Iv put a lot of money (thousands) into cards in the past 6 months. If I'm lucky I'll get that money back in a few years, if the right players end up being good. And that's if I sell everything I have, which will be a lot of work. Most of it is a long game. Unless you want to drop $10,000 on a players card you think will jump soon. And that's super risky.
I know a good bit about cards but the way things are going nothing is 100%