£10,000 to £1,000,000 in 6 years - Journey of a Chronic Income booster
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Broken_Biscuits wrote: »think your maths are a bit off on the total?
how did you feel losing £425 on gambling? Ive dabbled in the past and won some big money. Following a big win i put £100 on a football match, just one games results... It was a "sure thing" and i lost. I felt a bit sick to be honest. Every season i put an accumulator on the winners of each division, but other than that i don't bother with gambling any more.
slow and steady wins the race!
You're quite right. Will be amended. I'm so use to having a net gain i forgot to add it.
How did it feel? I still haven't lost it yet as I've kept my position open. But you can't be a good trader if you don't like seeing red in your account. I've been in this position a number of times, and I've always brought it back (not saying it'll happen this time), but I have a view on the direction the FTSE is going to take in the short term and I'm sticking to it.0 -
I was having a browse in the forum when I found this thread. Interesting because I am aiming to do something very similar, based on some research that I conducted on other personal finance bloggers (The majority based in the USA). If your interested in having a read for inspiration Google The Mini Millionaire.
I will try hang out here a lot more, and share the up's and downs with you all. :beer:0 -
Deleted_User wrote: »I was having a browse in the forum when I found this thread. Interesting because I am aiming to do something very similar, based on some research that I conducted on other personal finance bloggers (The majority based in the USA). If your interested in having a read for inspiration Google The Mini Millionaire.
I will try hang out here a lot more, and share the up's and downs with you all. :beer:
Welcome N6CNH! Great to have you on board and best of luck with your endeavours0 -
chronicsaver wrote: »Welcome N6CNH! Great to have you on board and best of luck with your endeavours
Thanks! I'm going to jump in on the Gambling front. The only Gambling I'll do is for TCB and Quidco where there giving you £15 for signing up and playing £10 etc.
That's free £5 provided you meet the terms and are careful not to get addicted.
That's just an example theres around 20 sites offering these sorts of promotions, however I tend to only go for the simple to understand terms and no more than a £10 deposit.
Otherwise Gambling is a complete and utter waste of your money.0 -
Also on the spread betting front... The vast, vast, vast majority who are looking to invest for the long term like yourself go for long term stable shares that pay healthy dividends.
This is a slow and steady race, and don't get suckered into the penny shares will make me rich or get rich quick schemes.
It's all been said before, but incase you need a reminder
If it's too good to be true, it probably is.0 -
Deleted_User wrote: »Also on the spread betting front... The vast, vast, vast majority who are looking to invest for the long term like yourself go for long term stable shares that pay healthy dividends.
This is a slow and steady race, and don't get suckered into the penny shares will make me rich or get rich quick schemes.
It's all been said before, but incase you don't remember. If it's too good to be true, it probably is.
Penny Shares are a complete waste of time and highly risky. I only trade on indices like the FTSE and Euro Stoxx0 -
Im really getting sick of people saying im doing this and that and never show any details how? Its like a few days ago someone says I can live on 50 pound a month and feed 2 dogs... as soon as I say show details. ..they disappear and not a word.
D
ps show details
Completely agree with this. In response to the other poster "He's only lying to himself", No.. He is posting in a public forum and so lying to everyone reading.
OP claims he is posting to encourage himself and others, yet offers no real insight into how he is making the amounts claimed. By claiming overly-high returns there is a risk others may attempt to emulate the perceived success by taking on high risks themselves.
Always remember: If 100 people put a load of money on a stupidly risky share and 99 of them lose all their money.. only that last 1 person that got rich will be shouting about it.
OP - Not to say that you are lying of course, however the weekly amounts you seem to be making from gaming the betting systems seems to be abnormally high and sustainable compared to what most people are reporting on these forums. This causes the suspicion.0 -
COOLTRIKERCHICK wrote: »totally agree, its all about giving ideas, incentives and inspiration to get yourself motivated to achieve something yourself..
what works for one person may not work for someone else..
I remember collecting Alu cans, took me ages to get a load, and then only made a few quid, a lot of people said it wasn't worth the hassle etc, but to me it was, as at the end of the day it was a few quid I wouldn't have had..
over the years I have made a few hundred quid just collecting and saving cans ( and empty steel tins re baked beans etc).. have stopped, but will be going back to doing it again...
at the moment I am sowing and planting stuff, so I can sell the surplus produce either to independent greengrocers or at markets etc.. its not going to be loads, BUT.. its a few quid..
all the little things add up, so anyone who wants to save/make money will never dismiss anything..
Not sure if your holding is big enough to qualify, but don't forget the farming subsidies from the European Union.There used to be a single payment scheme, - not sure what it's called now, but it can be quite lucrative. Some acquaintances of ours grow rape. I couldn't see the point; it's not like anyone eats the stuff. But it turns out it's used for energy and they get paid by the EU to grow it, some kind of biomass subsidy.0 -
Deleted_User wrote: »Also on the spread betting front... The vast, vast, vast majority who are looking to invest for the long term like yourself go for long term stable shares that pay healthy dividends.
This is a slow and steady race, and don't get suckered into the penny shares will make me rich or get rich quick schemes.
It's all been said before, but incase you need a reminder
If it's too good to be true, it probably is.
I'd agree with that. I like spread betting, especially on currencies. The pace and rush is exciting. And the leverage is insane. But I only bet what I can afford to lose.
If I wanted to safeguard my money, I would buy shares instead. Still trading, but have the time to sell them at my own pace, with only the brokers fee to cough up and avoiding the fees for open positions each week/month or whenever the platform you are using charges them.0 -
Not sure if your holding is big enough to qualify, but don't forget the farming subsidies from the European Union.There used to be a single payment scheme, - not sure what it's called now, but it can be quite lucrative. Some acquaintances of ours grow rape. I couldn't see the point; it's not like anyone eats the stuff. But it turns out it's used for energy and they get paid by the EU to grow it, some kind of biomass subsidy.
thanks, we only got just a few acres, of basically over grown shrub/trees etc, which at the moment is only good enough for pigs, and the land around the house is good enough for a very large veggie patch.
our land backs onto huge fields, which we have tried to ask to buy one/part of one, but I think for the reason you mentioned they must get some sort of subsidy as they are not interested... they don't grow anything.. just got a few horses grazing very poor grade fields..
but will look into seeing if there are anything small grants especially for wildlife etc..Work to live= not live to work0
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