Millionaire Challenge

Karmacat

LL, if anyone can do it, you can!

I'm about to start cleaning the counselling room, but till now I've been setting up a new folder of bookmarks - entitled "self publicity" :rotfl::rotfl::rotfl: if you're writing in a niche market, you have to work at getting read!

Also just had two wasps in - don't know how, as I have flyscreens! Slightly concerning, especially if they disrupt a counselling session!

Kayalana99

Thanks I think you have mentioned the 10,000 rule book before I got the gist of it but will look into the book.

Leave the house without my camera ? Never!!..no in all seriousness I used to live by that rule but now I'm a bit more practical about it but 95% time I do tend to carry it with me. I will look into courses again but ATM it's money and time(that said you're right it's the best move for me right now even if it's just a basic course, did I say I went out with a local photographer group about a week and half ago? I'm sure I would of mentioned it I believe it's on again this week), after my spending spree I'm trying to pull in the savings but OH wants to get the dining room decorated for the tables arrival shouldn't be to expensive (just need the actual wall paper I believe) but some more money to pay out ...2 birthdays in July and about 8 in August..! I need to do a finance check but I think we will be dipping into the savings I didn't want to touch but I'll build it back again ..

I'm going to join you LL a bit but with smaller strides and slightly different goals for July.

1) To raise savings to £1000
2) To lose just over half a stone
3) To research millionaires and how they started out and see if anything can be implemented.
4) To sort all this bloody paper work out I've been putting off!!

Me and OH are on a bit of a health kick ATM, I've got fruit in fridge and hardly any choc or crisps snacks etc we went cycling on Sunday for first time with kids which I have to admit was pretty funny the kids are in a double buggy with their helmets on and everyone who we went past couldn't help but smile...or comment on how cute they were haha

Hopefully we can do this cycling thing once a week so that would be a great start, exercise wise I think I might start running up and down stairs and do more each day...sounds a bit silly but what else can I do with the kids other then walks?

Right back to work, hate Mondays!!!

....I need my own theme tune...hmmm....!!! lol

PeonySugar

Hi everyone I am so glad I have found a group of strong like minded people.

Bit of a background, I've just recently received a promotion to a higher paid role. I have a few days in-between roles, and want to get myself into financial check.

Me and my partner are looking for a house at the moment. So although I'm not at the moment directly saving to become a millionaire, all of my actions are pointing towards this aim. By taking up this role, its more money a month, more contributions to my pension etc. Buying our first home, we want something with a bit of work needing doing so that we can buy a better house without having to pay more upfront. Can anyone recommend any books that have helped them financially? Thanks

gallygirl

PeonySugar wrote: »

Can anyone recommend any books that have helped them financially? Thanks

The Millionaire Next Door and Rich Dad, Poor Dad. Particularly the former if you're thinking of buying a house. Congratulations on your promotion , make sure the payrise doesn't go in 'lifestyle inflation' - bigger houses can cost a lot more than you think in many ways.

lessonlearned

Hi Peony Sugar.

Welcome. Yes i can second those books, also the Rules of Wealth by Richard Templar. Congrats on your promotion and good luck on your quest

Yesterday I made a start o the new fiscal iniative.,Gave myself a financial review and a budget for next month. I should be able to save 50 per cent, plus hopefully earn a bit as well.

Tbh everything looks as tweaked as tweaked can be, the only thing that I will look at is my sons medical/dental. His premiums have gone up,again. I switched mine earlier this year and saved a tidy sum so I will look at his.

Today I'm going to do a food inventory. I am going to run down one of the freezers and have a use up month, plus it will save leccy over the summer. I'm not sure if I even need two freezers now, I think it's just habit.

I have decided to,try and get out of the stockpiling mindset, it's only hoarding by another name. There is a perfectly good corner shop just 500 yards away I dont actually need to stock up for a siege:rotfl:

I have already checked the cellar, I have enough cleaning materials and toiletries to last a year. Why?.:rotfl:

Anyhoo, today I am going to,wade through my PPI claim, decided to give it a go. I don't think I'm due much but better nowt.;)

I managed a walk yesterday, not far but it's a start. Stopped off a the park. My aim is to be able to run round the park.......eventually.

minxy-x

I am jumping on the band wagon and setting myself some targets also!

- I am going to put % savings rather than values, so the aim is to save 70% of income for July.
- I will get my head around matched betting, and give it a trial.
- I will get back on low carbing not only for weight loss but to control other health issues.
- I will look at our electric/gas providers and switch if there is a better deal.

My motivational song is Titanium!

Thanks for the idea LL :T

Kay
I have probably heard this on this thread, but if not there is a guy called Brandon Burchard he has some youtube videos about millionaires how they plan their day/mindset etc.

Peony
Hello, you might find the youtube videos good also, and the bonus is they are free!

gallygirl
That is so true, a few of my husbands friends started businesses a good few years prior to us some 10+ years, but we are in a better position now as we had different mindsets to money.
We are often giving little seminars (at their request) now on money over a coffee to some of them.

LL
Where so you look for medical insurance etc, and any top tips? I am always asking something of you!:rotfl:
I am terrible with our freezer I have a big single upright one and if it gets to 60% full I have panics, I think that was from a few years ago when things were tough and I always thought if my freezer and pantry are full and something happens we will be ok!
It gets so bag I have to freezer tetris it.
However it is mostly full with at least 50% off meat, which helps to keep spending down.
I also have a full on shop under my bed mainly from the APG last year and other glitches
Have oyu looked into couch to 2K its meant to be very good.

Broken_Biscuits

talking of what people spend their money on to achieve a 5.9% savings rate...

found this

http://stats.oecd.org/Index.aspx?DataSetCode=SNA_TABLE5

people spend half as much as essentials like food on alcohol, tobacco and narcotics. So if you are spending £500 a month on food, to stay average you need to spend a further £250 on crack or perhaps ciggies and hooch.

if plans fall into place I will retire before i can access my works pension but i still put 10% of my wages into it. Works out about 11.2% a month saving after the tax advantage... So even if i spend all my wages im still saving. Better still when over half of that is a freebie from my employer.

raided the yellow stickies again last night. Posh teas for under a £1 for the next few nights.

moving back towards the don't give a crap about work mood again. Perhaps its the warm weather and me stuck in an office?!

think it was LL that recently said cash is king. Set a few personal targets over the next 1,3 and 5 years to build up easy access cash. No real plan at the mo... But want to be able to take on some projects that may speed up my exit from the rat race. was talking to a business owner and his fear of his nice motor getting scratched but is reluctant to pay secure parking fees... So been looking at garage and lock up prices. Just investigating at this stage. But cash will be needed so keep on saving... Especially with the impending market crash on the horizon!

teas up. moussaka.. Yummy. Reduced to 80p from the finest range. Double yummy!!

lessonlearned

Great yellow sticker bargainS there Biscuits, posh food for under £1 has to be good. To keep,up,that equation I had better crack open another bottle of wine....:rotfl:

Whats this about an Imoending crash on the horizon. Is this to do with Greece?? It's a right old mess isn't it. Poor Devils, what A worrying time for them.

Yes it was me who said Cash is King. Ive llost count of the times I've snaffled up an amazing bargain, purely because I had cash and the seller was desperate for some readies.

I can't remember where I heard it from but apparently the rich always keep back some fairly liquid assets, just in case, usually a dollop of,cash but also gold or gems. I have a safe and keep my good jewellery, cash and spare credit cards in there along with important paper work such as wills, insurance policies

Re the medical insurance. I was with WPA, but Ive found a better deal with Saga (I kid you not). Obviously no good for DS2 though.

Finished all the PPI forms today so,that's another one to cross of my list.

Today I found details of a few old accounts for my husband, nothing spectacular just a few dribs and drabs, but I suppose I ought to wind
everything up for once and for all, so,I'll,get cracking with those tomorrow.

Biscuits, Freedom day is,getting closer, you'll do it.

sorry if I'm rubbing salt in the wounds but I'm so glad I now have reached my own freedom day. I don't think of myself as being retired as such because I'm still working away in various projects but at least I'm working for me and not "the man"....,,,:rotfl:

I don't really think of it as work it's just me doing my thing.

Kayalana99

Ahh so happy I am planning my family photo shoot and buzzing with ideas, so much more then with a couple cause their are more of them!! Just thought I would pop on here.

I hope it goes ahead but we've saved the date but not confirmed times yet as they are pretty busy..I know they want to do it but got to work round 5 peoples schedules (well 3 adults anyway).

I've written down brandon on my to do list as otherwise I'll forget but that sounds really interesting!! My laptop key has broke (the most important mouse button one) so I've brought a mouse hopefully that will arrive tomorrow as I have taken the button off and my finger is killing not to mention that my laptop keeps jumping around and doing things I don't want it to do ! Ugh!

I've had a word with OH about our spending money, currently we take out about £40 a week each which is a lot, hoping to cut back on this. To be fair we tend to buy everything out of that other then food, so even stuff as little as paracetamol to clothes and bits (although it feels like it mostly goes on takeaways but with the health kick I am hoping to tone this down a lot) I think I will try and take about £20 a week but I've talked him down to '40 30x2' instead of 40x4 if that makes sense but if I take half that would save us £100 extra a month...whether I can manage on that is unlikey or at least until Sept as with all the birthdays in August...but I will try and perhaps just dip into savings for my sons birthday pressie.

We should make this goals thing a monthly thing, perhaps we could post all our months goals at the end of July with an updated version and see how we did to? Would perhaps give us a tad more motivation knowing we had to post the results?

Good luck with your PPI you never know, my friend got 7k back from that.

Right back to planning...I might leave my eBay stuff until my mouse arrives my finger is really hurting... -.-

Oh and re photo shoot the couple seemed really happy with the overall result and ofc I facebooked them and tagged them and someone(friend of the couples who I don't know) said they need a photographer next year and they will be in touch (I have a feeling it will be for a wedding and end up being a no go BUT the fact that someone has said that is good! wooo I look professional lol)

Broken_Biscuits

freedom day is about 17 years away unless i make significant changes... Perhaps take on more risk? And gamble with the chance that I might set myself further back?

yeah the Greeks. Shares are mostly dropping everywhere! There is a possibility that all markets will drop significantly. I don't hold any specific china funds but the other day they dropped 7% in one day. That's crazy. Most of the things i hold are starting to drop. Im trying to build up cash, but if everything drops by say 20% id pile it all into a tracker and sit back and watch it rise. or perhaps an active fund where the manager has history of doing well with picking undervalued growth potentials like terry smith or Neil Woodford.

woodfords funds are balancing the books for me and negating the drops in my other funds.Both are up, one 18% in a year (!!) and the other about 13% in just a couple of months (!!!)