£1,024 in 11 weeks challenge number 3!!

ehallett

Hi everyone.

Back in 2006, I started off the £1,024 in 11 weeks challenge - http://forums.moneysavingexpert.com/showthread.html?t=271716. Jet77 also started the same challenge at the beginning of thise year - http://forums.moneysavingexpert.com/showthread.html?t=1377391&highlight=challenge.

There are people that have managed to do this so it is possible. I have tried to complete it before but something always came up meaning that I had to give it up. However, I am determined to do it this time!! No excuses, the money I make I am going to give to my mum to keep and just ask for some when I need to buy something.

Jet77 put the rules very well so I have copied these :

Basically you have to double what you make each week starting from £1. I'm going to start tomorrow If anyone wants to join me then that's great but I know there are alot of challenges going on at the mo. I don't want to get too technical about what counts as money for nothing so I'm going to follow the original rules:

1. Any cash that you make must be created from nothing - you cannot use your own money to create a profit and then use that profit to start with.

2. If you wish to sell items on Ebay then please use items that you personally didn't buy. These can be a present, prize, freebie etc - as long as the item didn't cost you a penny, it's ok.

3. If you wish to use cashback from a site like Quidco, then this must have been generated through a free method and not from internet shopping. If this money was raised through free offers and clickthroughs then this is fine.

The guidelines for the amounts you should be at each week are:

£1 - 03/08/09
£2 - 10/08/09
£4 - 17/08/09
£8 - 24/08/09
£16 - 31/08/09
£32 - 07/09/09
£64 - 14/09/09
£128 - 21/09/09
£256 - 28/09/09
£512 - 05/10/09
£1024 - 12/10/09

I am planning to start this from tomorrow. Anyone is welcome to join me and hopefully we will all have just over 1k at the end.

Emily x

ehallett

I have decided to start a little bit earlier by listing something on Ebay this evening, only so I can catch a Sunday finish.

I have got a silver stapler keyring that my Avon AM gave me last week. It cost £6 in Next so hopefully it will sell as it is lovely. I have listed it for 99p so that I have no upfront fees. I have also offered free postage to attract more bids as I can get free postage at work. If it sells, I will deduct any Ebay and Paypal fees from the final price and the rest of it can go towards this challenge.

If it doesn't sell then it hasn't cost me anything to list it.

Emily x

MyLastFiver

ehallett wrote: »

I can get free postage at work

So your employer agrees to paying the postage on your personal Ebay sales? You must have a softer boss than me.

As for the challenge, I wish you well but I'm a tad sceptical because if there is a way of making £1024 in a week without 1. risking anything or 2. working hard, then I would have thought everyone would be doing it.

yukkibear

I don't think I could complete any more challenges but will be reading with interest.

ehallett

MyLastFiver wrote: »

So your employer agrees to paying the postage on your personal Ebay sales? You must have a softer boss than me.

As for the challenge, I wish you well but I'm a tad sceptical because if there is a way of making £1024 in a week without 1. risking anything or 2. working hard, then I would have thought everyone would be doing it.

I guess I must have a softer boss than you.

Also, I am talking about 11 weeks. Not 1.

Thank you for your good wishes.

pink1310

hi emily yes i will giver it ago like you ive always started and stuff crops up he insetive is when it finishes its the day befor my birthday so i might treat my self lol.

pink1310

forgot to say ive got a mascara on ebay at the moment which was given to me and ive never used would that be a start?

pinkie_pie

I'd love to join in although I'm somewhat confused about how to do this... I know you can get the free clicks and free quidco bits but that won't clear in time, and from my rummage around the house I can't see anything that I personally didn't buy that I want to part with! Not good! Just wondering how you keep making the profit??

ehallett

pink1310 wrote: »

forgot to say ive got a mascara on ebay at the moment which was given to me and ive never used would that be a start?

Hi, welcome to the challenge. Nice to have someone doing it with me . The mascara would be a great start. When does it finish? I hope it gets a good price.

Emily x

Angel89_2

ehallett wrote: »

Hi everyone.

Back in 2006, I started off the £1,024 in 11 weeks challenge - http://forums.moneysavingexpert.com/showthread.html?t=271716. Jet77 also started the same challenge at the beginning of thise year - http://forums.moneysavingexpert.com/showthread.html?t=1377391&highlight=challenge.

There are people that have managed to do this so it is possible. I have tried to complete it before but something always came up meaning that I had to give it up. However, I am determined to do it this time!! No excuses, the money I make I am going to give to my mum to keep and just ask for some when I need to buy something.

Jet77 put the rules very well so I have copied these :

Basically you have to double what you make each week starting from £1. I'm going to start tomorrow If anyone wants to join me then that's great but I know there are alot of challenges going on at the mo. I don't want to get too technical about what counts as money for nothing so I'm going to follow the original rules:

1. Any cash that you make must be created from nothing - you cannot use your own money to create a profit and then use that profit to start with.

2. If you wish to sell items on Ebay then please use items that you personally didn't buy. These can be a present, prize, freebie etc - as long as the item didn't cost you a penny, it's ok.

3. If you wish to use cashback from a site like Quidco, then this must have been generated through a free method and not from internet shopping. If this money was raised through free offers and clickthroughs then this is fine.

The guidelines for the amounts you should be at each week are:

£1 - 03/08/09
£2 - 10/08/09
£4 - 17/08/09
£8 - 24/08/09
£16 - 31/08/09
£32 - 07/09/09
£64 - 14/09/09
£128 - 21/09/09
£256 - 28/09/09
£512 - 05/10/09
£1024 - 12/10/09

I am planning to start this from tomorrow. Anyone is welcome to join me and hopefully we will all have just over 1k at the end.

Emily x

The only ''realistic'' way of actually managing to achieve ''doubling'' your cash income every week, week after week in this compounding style, will be through using the martingale betting system.

pink1310

hi emily great,
it ends in 2days fingers crossed.