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From £100 to £10,000 by end 2010 Part 4 - PLEASE IGNORE

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moneymakestheworldgoround
moneymakestheworldgoround Posts: 1,106 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
edited 1 February 2010 at 1:42PM in Boost your income
Please ignore this thread - its a little premature so I am hoping it will drop into the depths of the forum until needed in a week or so - SORRY
VR repayment  £404  £156.02 PAID
Airpods repayment £249 £185 £75.90 PAID 
Airpods repayment £144 £99.01 PAID

Capital One £1400
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  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 7:18PM
    CURRENT TOTALS - updated month end
    sadie £1235.81
    daisygogo £1003.86
    susie-sue £791.75
    bambywamby £774.51
    jacci45 £693.00
    the_cat £683.01
    yummymummy20 £650.77
    skintbint £625.50
    nikki2804 £598.88
    moneymakestheworldgoround £580.32
    tryinghard £575.00
    yukkibear £398.91
    spidystrider £354.33
    pipersky £348.95
    deq123 £184.79
    victoriaplum1 £174.13
    alyssa_liss £160.66
    natnat13 £111.42
    sheloveshimsomuch £106.15
    jmrance1 £74.00


    Many people have nil balances or negative balances due to stock purchasing
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 2:30PM
    please ignore
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 2:10PM
    You dont need to sign up for the challenge,but some regular posters have declared their reasons for doing this challenge, and how they are doing it. If we can swop skills or buy directly from another member, then all is good. Most people will have their blog or website in their profile, so go and have a nose and support your fellow members !

    moneymakestheworldgoround -HOUSE DEPOSIT/ emo sales/plastic storage boxes/life coaching/mascot hire/ general retail
    seashell REDUCE DEBT
    littlemisshappy LUXURIES/TREATS
    yummymummy20 FURNSIH FLAT/DEBT FREE/ RELIABLE CAR design business
    cally6008 horse website (retail/forum/info)
    moneymabel wedding jewellery
    skintbint fantastic novelty cakes
    ambersunshine well, umm WORLD DOMINATION
    drinkupretty SELF EMPLOYMENT/ goth clothes and accessories
    mfwdannyg LIVE THE DREAM IN CORNWALL
    whitewillow LOAN FREE/ customized paintball/airsoft/bmx masks and helmets
    victoriaplum1 CREDIT CARD PAID/ REVAMPED HOME/ SAVE FOR HOLS
    saucysecrets handmade photo frames
    daisygogo REPLENISH SAVINGS
    turia DEBT FREE
    tryingtobegood DEBT FREE WITH SAVINGS
    steveswift TO DO THE CHALLENGE VIA POKER
    sheloveshimsomuch HOUSE DEPOSIT/ ebay
    mambury body jewellery
    EMminently
    ysatiss PAY DEBT
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 2:27PM
    http://forums.moneysavingexpert.com/showthread.html?t=2242245

    FEBRUARY :

    nixinixi
    scrooge2008
    moneymabel
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 2:28PM
    FEBRUARY

    Hales
    moneymakestheworldgoround
    saucysecrets
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 2:25PM
    FEBRUARY :

    deq123
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 1 February 2010 at 2:26PM
    FEBRUARY:

    mambury
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Please ignore
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
  • Hales
    Hales Posts: 860 Forumite
    Hope u don't mind me reserving this space?!
    Official Dribbler :D
    This is the year to #getfit
  • moneymakestheworldgoround
    moneymakestheworldgoround Posts: 1,106 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Hi All.
    I'm a little further on then you guys. I starred a similar thing in July 2007 with just £100. I spent the first £30 on stock from ebay and resold for £130. I made £3k in the first year after all costs, tax etc but i also grow my stock to about £5k in value.

    i'm now buying and selling constantly and sold £9k of stock in the in the run up to Christmas and £30k in the whole of 2009. This was all on stock that is reduced now and winter stock reduced in the summer. I aim to make 25% - 50% per item, anything less and its not worth the hassle. Here are my key points to remember.

    Knowledge - This is how you make your money. Specialise on something you know about ie i know nothing about cars but my girlfriend dad makes a living
    buying and selling them. I'd lose money if i did it.

    Research - You have to know your market, this is the most time consuming part.

    Fees - Get a grasp of e-bays fees very quickly. They add up fast and you have to work this into your profit margin.

    Postage and Packaging - find a good supplier of boxes and get friendly with the local postmaster, pays in the long run

    Accounts - do them as you go along

    Laziness - Capitalise on peoples laziness, i have sold items on ebay for others taking a cut of the profits just because they are too lazy to do it themselves.

    Turnover - keep the stock turning over, stock that doesn't sell doesn't earn any money. Cut your losses were necessary

    Seasonal Stock - i have invested £300 in advent calendars that i know i can sell next Sept for £600 that's about a £200 profit after all costs, better rate of return then any bank i know.

    Gambles - I would say 20% of the capital i spend is on gambles and 80% is sure things, some pay of some don't.

    Motivation - You will buy some awful stock and some real gems, the trick is not to beat yourself up or over reward yourself or you will miss the next opportunity

    Cash flow - you need cash to buy stock, cash gives you options, always aim to keep 20% of your float free for opportunities that arise.

    Discounts - take every discount you can get including cash back
    VR repayment  £404  £156.02 PAID
    Airpods repayment £249 £185 £75.90 PAID 
    Airpods repayment £144 £99.01 PAID

    Capital One £1400
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