Millionaire Challenge

lessonlearned

Kay - could you please pm me with contact details. Thank you so much.

I think I now have someone but it might be worth having a reserve and I know you would only recommend someone you were happy with.

Thanks again.

FunLovinCriminal

Well little FLC has arrived, mum and baby doing well, dad's a nervous wreck already.
When I get a chance I will look at how much savings I would need if redundancy or other disasters occur.
Do I need to tell home insurance or life insurance about our addition?
Then the balancing act of providing for our child and becoming a millionaire begins
FLC

lessonlearned

Fab news. congratulations. Now the fun starts:rotfl::rotfl:

No you don,t need to inform insurance companies, although it might be good time to make a will etc if you haven,t done that yet.

Re the emergency fund - do you have income protection insurance. stand alone is best rather than one that is just linked to the mortgage or any loans.

Nothing to report here. not feeling too good at the moment - just stress I suppose. OH ok for now.

sorry typing not too good I usually use my PC but it is sulking so this is done on IPad

Have a good weekend. Hope we get some sun soon.
Fed up with the rain:rotfl:

System

FunLovinCriminal wrote: »

Well little FLC has arrived, mum and baby doing well, dad's a nervous wreck already.
When I get a chance I will look at how much savings I would need if redundancy or other disasters occur.
Do I need to tell home insurance or life insurance about our addition?
Then the balancing act of providing for our child and becoming a millionaire begins
FLC

Congratulations :j

al6n

Congratulations FLC.

Just a quick one from me, I'm still going through a slow work period, getting enough done to scrape by but only just, I've been assured by one company that there's more work than I can handle in the pipeline but this has been the case for a couple of months and keeps being delayed, this is normal though.

I've been doing a bit of matched betting in my down time and have made £74.08 so far That could have been more but I'm taking it easy just working through the lowest offers to start with. Can't moan for a few tax free £s.

I'm still working at trying to come up with ideas for a proper additional income stream but I've had no brainnwaves so far.

Listerbelle

FunLovinCriminal wrote: »

Well little FLC has arrived, mum and baby doing well, dad's a nervous wreck already.

FLC

Many congratulations. Welcome to a whole new world

I rarely post on here. I am taking an extended career break and not currently actively engaging in becoming a multi-millionaire. (We have three rental properties, I am now researching multi-family properties.)

We have a four year old daughter. My very well-paid husband was understandably frightened at suddenly becoming responsible for a little one and her mother. He felt that we should only spend less than 500 pounds on the baby in her first year. Yep, ten quid a week. He promptly spent 10% of the budget in the first weekend, and slowly got over his fear of becoming penny-less and unable to support us.
(Motto - it is not what you earn but what you spend which determines ultimate wealth/choices)


BUT. Neither of us were too proud to accept or seek second hand items. We borrowed all kinds of things from friends and their friends. We shopped in charity shops occasionally. We kept boxes and packaging for gifts, to help with resale. I then sold on many items - often at a similar price to what I paid for them. Some I made a profit.

Basically, a baby needn't cost much. It's their transportation kit that will likely cost the most.

Oh, we saved thousands by using washable nappies and the environment benefitted too. I promise you that these aren't as gross as you might think. And legally poo isn't allowed in the household waste bins - it is supposed to be scraped from disposable nappies into the loo - but most people ignore this!!

Sorry for going off topic!

troglodyte

Congratulations FLC and welcome to little FLC!
I second everything Listerbelle says; we were lucky in that many of my friends had already had their children by the time I got around to it, we gained practically everything we needed (clothes, cot, toys, car seats, you name it) from friends and the rest (pram, washable nappies) I bought second hand. I used to tell DD she was a bargain and she was very proud!

CornishOptimist

Hello All!


Firstly congratulations FLC, as many others have said the fun starts here! I like to compare it to become a head of state. People often say "God hasn't President xxxxxx gone grey recently." Its the same reasons, lack of sleep and lots of stress. Good Luck!!


Right, this weeks update:


Im intending to start my AAT training as I would like to have a career in the finance/accounting industry (hence my interest in pages such as this) As I can see, AAT do 4 levels of qualifications, starter then 2,3 and 4. At my local community college I can do an evening course in this. It will be £635 for a 35 week course including exam prices. I want to fund this without going into debt, so I will raise the money first and then start the course in probably 12 months time (when the wedding and house buying are done) Anyone who is an accountant or know the finance industry and has any advice for me, please feel free to share, I always accept offers of advice from my betters!!!


House fund will top £9,000 next payday in a weeks time and we are getting about £14 a month in interest from this account a month, so I'm happy with that.


Just started my 50p tin last week (Fiancee does a £2 tin) we swap £2 and 50p's to help each others collections, now up to £3.50. It will all go into my "emergency fund".


I hope all of you are well.


CO

lessonlearned

Hi Folks

Well last week was grim. OH not too good and I found it difficult to remain upbeat and positive. However I eventually perked up a bit and for the past few days I've been working like a demon - landscaping, clearing rubbish, tip runs etc. - not a penny to show for it. Hopefully all in good time - call it "sweat equity". :rotfl:

Did have a break on Sunday night - trip to the cinema with my boys to see the X Men movie and then supper at one of my favourite Italian restaurants. Lovely.

Cornish - sounds like you are doing well - the house fund is looking healthy and yes sounds like a good plan with the course.

FLC - agree with all the others - babies don't need a lot of expensive stuff - preloved is fine. The only thing I would be careful of is second car seats etc - safety is everything so don't skimp on those or indeed safety equipment in general.

We had a bad car crash when my DS1 was 10 months old - he was in the back at the time. The car was a write off. I was hospitalised with seat belt injuries, but OH and DS1 were absolutely fine. The insurance assessors were really impressed with DS1's baby seat - they said that it probably saved his life.

I also know of a toddler who was badly scalded by a pan of hot water on the stove. Take the time now to "baby proof" your home before your little one gets mobile.

I've had a good money sort out this week - the reno budget has taken a hammering but fortunately the cash flow is fine. Just the ongoing saga to find a plasterer now.

Have a good week.

tinktay84

haven't read everything since I last posted but wanted to say CORNISH I retrained to become a decorator and it was the best decision I ever made. Ive always been creative, always been hands on so perfect for me. I like working with men rather than women which also made decorating appeal but as it is I now have 4 women working for me haha.
I honestly would not hesitate to do the same again even knowing how hard it has been getting set up, being taken seriously and getting to where I am now.
If you really want something then you have to fight tooth and nail to make it happen (unless there is a real good reason not to)
I am a firm believer that I would rather regretting DOING something than NOT doing something.
As it is the breakdown of my marriage has reaffirmed this and also meant my business is now taking off in a bigger way because I now know I am the sole bread winner for my kids so I have to make it work.