Challenge: Raising £500 for Christmas before 1st December

knowlton

Hi all!

CAN I BE ANY CLOSER!?!? WITH ONE DAY TO GO AND JUST £7.92 OFF!!!??

More of that in a minute...

Just a quick update, the focus group was so fun! It wasn't quite 'smashing up' things like a rock band, but more, how you would damage things in given situations, like knocking it off a table, closing a laptop lid with a pen in between, etc. Nevertheless, there were some occasions where it was a good stress reliever!

I have received many messages about this focus group, so for everyone's benefit, it was with Saros Research (https://www.sarosresearch.com), so if you sign up with them, you could be next! My experience with them has been good so far - I get about 3 invitations a month for focus groups or at-home interviews. They do anything from games testing, smashing up electronics to how you use your TV.

They're quite generous in their payment. They also do surveys on topics like music which however, aren't paid (instead you're entered into a prize draw).

So that's £125 in the pot!

Also, thanks Phil - I've signed up with ValuedOpinions, and already I've had three surveys! Including one about my local Police Force in which I was more than happy to give my opinion! Sadly, they pay 50p at a time and only pay out when you hit £10. Not sure if I'd make it!

Quick update on matched betting - I've done the Eurosportbet thingy on Fixtheodds and made £13.63. I also started the PaddyPower one over the weekend, and I'm up £35.61 so far, but I have two more steps to go - so hopefully overall, I will make about £70. However, as my latest bet settles this weekend, I won't have met my challenge's deadline. Nevertheless, matched betting has definitely helped in my challenge and has proven quite fruitful - I wish I started it much earlier!

So £7.92 in the next 11.5 hours.... This scavenger hunt could not be any more intense!

philkirby

OMG! Well done, knowlton!

That's amazing!! I hope you get the £7.92! How about Consumerpulse? Have you got enough for an extra £10 voucher???

sonyhamster

Well done knowlton!! I hope you manage to find the remaining £7.92!!!

knowlton

Hi all, the good news is that following Phil's advice, I managed to redeem a £10 Debenhams voucher!

Therefore I have met my challenge at £502.08! Thank you all for your encouragement and tips, they have been really helpful! That's my Christmas dinner, presents and a donation to charity, all sorted!

The lesson I've learnt is that the old notion of 'beg, borrow or... (I'm going to change steal to invest - we need to keep up with the times), is a powerful one, and can really motivate you to succeed.

Firstly, selling any old mobiles - or even helping your friends get rid of them can be an option. I've found it's important to 'shop around' and companies like Mopay offer good prices. However my tip is that if you do sell to companies like CEX, is to only do it by going into store. I have had an experience where I sent them a near-new, A-grade phone, and they graded it as Class C and gave me £60 less. I had no chance of ringing them as no one ever picked up the phone, sent them over a dozen emails, 2 registered letters and no response. At least if I was in store, they would have no quibble about its quality.

Mystery shopping is another good avenue in upping your income and there are many threads on MSE regarding this. However, I found that ABA-I research was best as I received regular assignments (Wilkinsons and Harpers Bazzar), quick payment (within 2 weeks) and the payment was good. However, it should be noted that due to the current economic climate, they have cut back their payment from £10 to £8, although there is no minimum spend. I tended to go in to buy things that I would normally use anyway - like washing up liquid so this wasn't a problem for me.

Consumer research is definitely something that works and is a nice one to do. Logging your shopping every week isn't too hard and within about 3-4 weeks (depending on how much and what you shop), you can get a £10 voucher. You can also up your points by filling out the occasional survey. There are many out there, although Consumerpulse is one that I recommend. However they are by invitation only - I was lucky enough to be invited to participate.

Matched betting is also something that really helped me. I've always known about matched betting, however I've never really had the time nor experience to do it on my own. Although after being directed to Fixtheodds, I found them easy to use and for novices like me, their step-by-step guides were relatively easy to follow. It seems like a nice way of upping your income. I will give everyone an update on how I get on after my bigger bets have settled.

Focus groups have definitely been a lifesaver and has been perhaps the most generous in helping me meet my £500 before Christmas challenge. I only did one within the period, which paid £125 - and was fun too! I would strongly recommend that people sign up with as many as possible. Again, the research company that I would recommend is Saros Research, as they have regular focus group assignments, at-home interviews and the odd survey. It would seem that most of their research is technology based - games research, electronics, how you use your TV, etc.

I think I will definitely continue this upping my income challenge for the New Year, however it is hard work!! Would like to hear from anyone who is considering embarking on a similar challenge!

sonyhamster

Nice one knowlton, thanks again for sharing your money making experience!

knowlton

I've had an interesting question regarding focus groups and whether you should consider signing up with companies where you would have to pay a small fee.

My answer is definitely no.

These companies often do one of two things - either they take your money and you'll never hear from them again, or they will sign you up for free to sign on focus group lists (which you could do yourself anyway). Remember, if a research agency does not have enough respondents, its client can pull out. However if you pay them and they do not have enough clients (or indeed any clients), then it is very difficult for you to get your money back.

The same goes for research agencies offering surveys for money.

Another question that I have received is regarding the fixtheodds website and whether they take your money. The website does not take your money or any payment details, but instead it is a step-by-step guide, telling what to do. Much like MSE, they make their money by being affiliate for when you sign up with Betfair (which you need to do when you do matched betting).

Similar advice here - before singing up to any website, here's my check-list of things to look out for:

- Are they a registered company at companies house? (A search can be done at: companieshouse.gov.uk)

- Are they HTTPS? (This is not a significant test for some websites, however for those which may take identifiable data such as your name and address, this is important and in especially websites that take payment information. You will find all good websites including the DirectGov websites are HTTPS).

- What's in it for them? (What's their business model - how are they going to finance their website - is it through adverts? affiliate links, etc)

Indeed FTO met all of these, however there are some websites that don't - so be particularly wary of those websites which offer to make you money in return for an upfront fee as it is unlikely that you will make any.

Most good websites will either be free as their revenue stream will come from elsewhere, or take an admin charge once you have made money. If websites do request for payment, although using a credit card gives you protection, it should be noted that you should do all these prior checks as if you fail to do these simple checks, card companies may argue that you have not done your due diligence.

knowlton

As promised, just an update from me!

Made £14.62 with the first step of Paddy Power! Admittedly this is lower than what I usually make, as it's 58% of the offer value (I usually get between 60-70%), but it's certainly a profit!

Just started the second part of the bet, so let see how this goes.

Just got my free bet from Tote too! However Fixtheodds is only showing one suitable market at the moment - so I might wait until there's a better option.

I will definitely be needing this money since my credit card bill this month will be astronomical!

fizz

Just found this thread and after a read through, all I can say is WOW!
Well done!:T

knowlton

Thanks Fizz!

I shall be enjoying Christmas with a little more cash than last year!

I think I might set myself a new challenge soon as I'm saving up for an engagement ring!

Also, for everyone who has asked about my experience matched betting - there's an article today in the Daily Telegraph which talks all about it: http://www.telegraph.co.uk/finance/personalfinance/consumertips/8185280/Is-this-a-bet-you-cant-lose.html

knowlton

Hi all,

Just an update - I've continued matched betting with fixtheodds, for which I've now hit the £300 mark - £276.94 and Betfair has given me a £25 free bet as I lost a bet!