Millionaire Challenge

Karmacat

tinktay84 wrote: »

Anyway Monday is back to being as tight as a tight thing and clearing as much as possible.

I do love this

I cant remember the exact quote but I am currently doing things most people WOULDNT dream of to achieve the kind of life most people can ONLY dream of.....
Keep going everyone!

That's a great quote too, shows your real determination. Good luck with it, Tink.

lessonlearned wrote: »

Tink - Thanks for the tip about the treadmill. I have a birthday coming up, so I think I will put my birthday money to good use. And yes I will be joining you in the being as tight as a tight thing. This trip to Edinburgh has cost me a lot of money.

visitor attractions, a city bus tour, eating out (nothing fancy just "fuel") - my goodness but the UK is expensive these days.......I could have had a week somewhere abroad for what I will have spent.

Ouch. Tink's advice to go on ebay is well worth it - I used to have a cross trainer bought for £120, sold for £12 just before I moved to this house

Still the purpose of this visit was really to see FIL. My next holiday will be for me........

We have reasons for what we do!

Karma - loving the idea of a "staycation" - yes you could give yourself a luxury hotel experience for a fraction of the price......glad you are feeling a bit better.

Thanks LL - it's been tough at the moment, I'm trying hard to remember that all's well right now, I'm safe with a roof over my head and enough painkillers to cope till my tooth heals!

As from next month there will have to be a two pronged attack on my finances - frugal living and start earning some extra income.:o

You know what would help my frugality? If I actually used the greenery and herbs I'm growing in my garden

lessonlearned

Good afternoon All

Well I'm back from Scotland and I'm back in the game.
From today I shall be joining Tink in being tight as a tight thing.;)

I have been food shopping today so I raided the yellow stickered meat counter and hoovered up the bargains and offers.

I have set myself a target to save at least £500 a month.

This will come from interest on savings, frugal living, and selling all my superfluous "stuff". I will not be buying any stock to deal or trade just selling my own personal "treasures" which I no longer need or want.

Hopefully some months I will surpass that figure, that is supposed to be the minimum. Ideally I like this to be £1k a month I'm not sure I can do that.........

However, I'm ready to give it a go.......:I shall have to slash my spending to the bone.

Unfortunately I do need two new tyres soon. Hey ho.

Karma - ive got nothing edible growing in my garden this year apart from raspberries. I'm sorry but I draw the line at eating nettles.

I have plenty of seeds so I thought I might try a few salad leaves. I think they would be ok. I might just cheat and see if the garden centres have any baby veg plants going cheap although I'm wondering if Ive left it too late.

Whatever, I'm on a mission......

It's 4 years since the thread started.

I'm was well on my way to my self imposed target of £300k in 10 years. I would have been at £240k but I have given the boys £50k each so I'm now back down to £140k.

I need to get cracking.

Ive got 6 years to make £60k......but I'm hoping to surpass that.;)

Time to get serious.......

Karmacat

lessonlearned wrote: »

Well I'm back from Scotland and I'm back in the game.
From today I shall be joining Tink in being tight as a tight thing.;)

:j:j:j

Karma - ive got nothing edible growing in my garden this year apart from raspberries. I'm sorry but I draw the line at eating nettles.

I wasn't thinking of nettles :rotfl: but actually, my first sort-of mother-in-law fed her family on loads of nettle soup in the war, her husband was a conscientious objector firefighting in the south of England, and she had *very* little money to feed her kids.

I have plenty of seeds so I thought I might try a few salad leaves. I think they would be ok. I might just cheat and see if the garden centres have any baby veg plants going cheap although I'm wondering if Ive left it too late.

Baby leaves, the sweetest and tenderest, will be fine.

Whatever, I'm on a mission......

Time to get serious.......

Thats very energising, thank you!

Marvs_Mayhem

Maybe I should join you! Mind I'm 33 so I'll have to set 50. Having just lost my job and with a baby on the way I need to start afresh fast - but I never want my baby to worry like I am now. I'm going to set this for myself so I can try and secure a bright future for my little one and don't end up in this stretch again. Good luck everyone!

Listerbelle

Hello All.

I'm de-lurking for a moment to say hello, and to apologise for not contributing at all these days. I know you know I'm here, supporting you from the sidelines

Baby is seven months next week and back into a predictable sleeping pattern of no daytime naps unless in the car or in Mummy's arms, but sleeping at night from 730-4.

On the homefront, I am simply getting used to being a parent of two and being a stay at home Mum. I have my laptop on in the kitchen and do swagbucks, clixsense, instagc and mypoints whenever I walk by it. I write on review sites and complete surveys irregularly.

Our rental properties (we have three) are all doing fine, although I have just discovered that apparently I need to have a legionella risk assessment done every couple of years. Of course my managing agent will organise/conduct that at an overflated price. A little research revealed what is required and I shall do my own. (This is permitted - I try to operate as ethically as I can)

My husband's work role is changing. He is being allocated more responsibility. It's exciting. The money attached should follow in 6-12 months' time. However it does mean that he is at home for less hours. We predict that this is a medium term situation, and that the company should undergo an IPO in two years. We will benefit from this.

In other news, I bought a sprout growing system with my birthday money and am growing fenugreek and alfalfa sprouts (from seeds also bought with my birthday money). A strange but nutritional snack ROFLMAO.

So, an update of.....errr...not much!

Best wishes xx

LOP123

I wish you the best of luck

lessonlearned

Hi Listerbelle. Good to hear from you. 7 months old,already. Where does the time go......

Re the legionnaires disease checks, yes they are new to,the rental market. I used to have to do them every month for my residents when I was a manager in the sheltered housing complex. They are a doddle. I certainly wouldn't pay your agent for such a simple,task. Anyway it gives you a perfect excuse to visit the property and make sure all is ok. The agent would probably insist on doing the checks during office hours which is a bit unfair on your tenant. I'm sure you could be more flexible.

The more I think about it I wouldn't use a management company other than to,set up,the tenancy. I would much prefer to manage the properties myself. And I speak as someone who,worked for a letting agency .......

From what I've seen in the past few years most of them are pretty useless, that 10 or 15 per cent is better in my bank than theirs.

I have my little black book of reliable trades people. if I ever got to the stage where I had too many properties to manage I would employ someone who worked directly for me, as my PA and that would be part of their job description.

Well my new frugal lifestyle began today. I had a little spend at the garden centre, but not as bad as it sounds. Most of it was for veg, herbs and just a few pretties. I took full advantage of offers, reductions and of course my sons staff discount.:rotfl:so all in all spent just £22 - very restrained for me.

I even walked past the hot tubs that were on offer......one day.

Broken_Biscuits

Its pay day today for most, including me. Never worked out why so many companies pay up on 25th of each month??

anyway, a month of debauchery and expanding waistline sees me save 30.2% of my monthly pay. Not my worst month (birthday month last year at 17%) but still not fantastic. Pushed up above the quarter mark only due to one of the weeks being too ill to spend i think!

according to this:

http://www.tradingeconomics.com/united-kingdom/personal-savings

the average brit saves 5.9%. What are people spending their cash on? I got through a lot of cider and meals out this month and beat the uk average by a further 25%. Its not like i earn a mega wage either.


not really sure what the answer is?
More economics training needed at schools?
knowledge that a degree (and its associated debt) isn't a magic pass into the higher wage life?

that average will be brought down by those living a hand to mouth existence and a zero savings rate.

anyway, nice to see that however "badly" you do... You are probably racing ahead of your peers.

minxy-x

Hi all

Nice to spend some time catching up with everyone's news and progress.

Kay
Congratulations on the wedding, hope you live long, happy, healthy and prosperous lives together.
Best of luck with the photography, I thought that was where you were heading when you started buying equipment.
You have lots of really exciting things going on.

LessonLearned
I need to take my brother to a seminar, he really worries me with his money.
You will make the 60K in the next year the rate you are going, then everything else is a massive bonus.

TheGentleWay
Love the kitchen, you are brave with the white, light wood annoys me and I have to clean all the cabinets weekly.

Karmacat
Sorry you are struggeling, sending you some virtual flowers.
I also have a shower before a bath, thought I was the only one!
What are you growing, I have some tomatoes in a hanging basket.

We eventually found another BTL so just keeping fingers crossed that all goes through ok.

It was previously our plan to pay down personal mortgage ASAP and then we would always own a home, no matter what happened, and then use other monies to invest.
But we have been talking about a change to that plan and are looking into when we re mortgage in a few months to whack mortgage back up and use the money for x 2 BTL's, but still want to keep 25% equity in home- so we would be back to where we were when brought in 2010.
Not a definite and doing some maths and seriously thinking.

We were also going to stay in this home for a good few years, but are now talking about maybe moving in 18 months- 2 years.
But only if we can find additional sources of income to what we already have planned, as we are agreed we are not taking our savings now and future for further business (which will make money), and put it a house (which will cost money).
I have an idea for some of this just need to get my maths head around it...
But I have been looking at some properties (I find having goals really helps to focus). Even if we don't move we will have saved some additional money :j

I mentioned having a business idea and was saving for this, but someone beat me to it in our Town ( well 2 ideas actually :mad:). This is due to open in the next month or so, so very interested to see how it goes for them.
It could be opened somewhere else, would just need to find the right location.

For now we do not have the money to invest in other businesses, as all ideas we are looking into require land and/or premises so we are just into save, save, save mode.
But we are always adapting plans so this may well change also.

Business is doing well, up from last year by about 40% :T, 85-90% repeat customers. Husband has done amazingly with it and I am really in awe of the work he has put in (it will soon be 2 years and he has had 4 days off).

Karmacat

minxy-x wrote: »

Karmacat
Sorry you are struggeling, sending you some virtual flowers.
I also have a shower before a bath, thought I was the only one!
What are you growing, I have some tomatoes in a hanging basket.

Hi minxy I usually just have a shower, but I love relaxing in a bath, so if I do get round to *having* a bath, thats the way I'll do it nowadays :j

We eventually found another BTL so just keeping fingers crossed that all goes through ok.

Fingers crossed for you likewise.

It was previously our plan to pay down personal mortgage ASAP and then we would always own a home, no matter what happened, and then use other monies to invest.
But we have been talking about a change to that plan and are looking into when we re mortgage in a few months to whack mortgage back up and use the money for x 2 BTL's, but still want to keep 25% equity in home- so we would be back to where we were when brought in 2010.
Not a definite and doing some maths and seriously thinking.

To be honest, in the present day economic climate, even if I had my health I wouldn't push the boat out to 2 BTLs at once. Underneath the surface, there's some tricky stuff going on. But you really sound like you have a good head for business, and "save save save", as you say, is a good way to go :j whatever your plans are. My word, you and your OH work hard - I'm glad the rewards are starting to come in

I've been struggling with an Author page on Amazon - their email help people are a bit too polite for their own good, wrapping it up in so many sub clauses, its hard to see what they're saying :eek: so I asked again, and got one who wrote normal English, phew. I'm really getting to grips with the stuff you have to do behind the scenes.