Millionaire Challenge

Kayalana99

Evening guys, so quiet on here lately.

Great idea Bmth, I've been thinking of doing something similar as all my savings goes into the same pot that gets used for car insurance and hoildays etc...thinking a side pot where I just put a little bit here and their that would be for investing later on down line and not dip in money so to speak...doesn't really feel like savings when it's getting spent...just on bigger stuff.

Me and Hubbie have come up with a business idea that we're both really keen on, no more online crap it would be based in a trailer and would cost less then 5k to set up. I reckon we'd need about 8k though as the plan would be to have at least 3 months bills covered so if it didn't work out we could pack up and Hubbie could go back full-time.

Would be great though as hours would be 7-2, would get busy around 9-1pm which would work around school hours with me helping out and he'd be able to pick kids up everyday and spend the afternoon/evening with us.

Unf youngest isn't full time till Sept 2018, prob won't look to be opening until Sept 2017 due to funds and time but if we can make this work....plus the idea is to move into bricks and mortar if it takes off and then work our way up to something bigger...the dream of owning a pub by the beach somewhere.

It's a bit scary but the profit margins are so good, the business is really viable idea. Without doing all the proper costing, I've estimated it to be around 2/3 of the selling price would be profit compared to the 20% I make now on my eBay....

Unf it's a bit of a pipe dream ATM due to time and money, but I really do think this is where we want to be going and now that the idea has happened we just need to focus on pulling everything together to make it work.

Muhren

I haven't posted for a while but I have been reading. Everyone seems to be doing well, despite some challenging times.

I will have around 9k in savings when I get paid this week, although I am planning on going away somewhere in November time so they will get depleted a little.

I checked my pensions today and I have close to 43k over the two pots, so my NAV, as it stands is 145k. I am therefore 1/7th of the way to magic million!

Connor1234

Bmth100 wrote: »

Interesting .. I like it. Why is this successful - are people posting things cheaply on eBay to get rid, and you're just being more patient and pricing it up?

just realised I never replied!

Generally car bits are too big and heavy to post easily, so when they're collection only they're in a smaller pool of potential buyers and if no one around owns that car/needs that part you can pick it up for £0.99.

there are plenty of groups like "mk3 golf buying and selling" on facebook where you can shift that mk3 gti rear door you got for £2.50 to someone who needs it for £20

MikeEvans

Love the challenge. No point setting low goals. At least if you don't achieve the million, you may get close.

I'm new to MSE but have been reading for years. I finally decided to join as learned so much and thought I'd try give back where I can. I've learned quite a few good tricks for both saving money as well as earning money online. I'm now almost at the point of giving up my day job. Next goal will be to reach 1 million.

Good luck everyone
Mike

Bmth100

Welcome to the new joiners

Over the moon this morning! A freelance site I used to use isn't quite as good as it used to be; plenty of work, but always about €5 for 3-400 words. However, I managed to swoop in and grab a rare article: €105 for 6000 words. I know what I'm doing this weekend!

lessonlearned

Good morning fellow millionaires in waiting.

How nice to see some new faces - no disrespect to our long timers of course.

Well I have not done much recently but I do seem to have been very busy, but mainly on "hidden" stuff where you don't see immediate results.

Both insurance claims i.e. Car accident and burglary now settled, the money is now sat safely in our bank accounts. DS2 will gradually replace his photography equipment as and when but as he collects vintage lenses he js prepared to take his time. He's not bother d about replacing his iPad, he managed to fix my old lap top and we still have the desk top in the study, plus I stilll have my iPad so we are making do.

All our tech stuff Is getting a bit long in the tooth and isn't exactl state of the art now but it all works ok we don't actually need to upgrade at this stage. No point wasting money on new gizmos,

I have still not spent my car money, I am managing to go car free. DS2 and I car share quite happily, for the rest I just get the odd taxi .........one of these days I might even venture onto a bus.:eek:

TBH the reason I haven't is that I still haven't fully recovered from my injuries, especially my neck and I don't want to risk being jolted too much. I had a very rough taxi driver the other day. He threw me about and managed to hit every single pot hole or speed bump.....that car journey was agony.

I have cancelled the 4 weeks in Cyprus for February - I decided I would be bored out of my skull stuck in one place for 4 weeks. The travel company very kindly let me switch what I had paid onto another holiday, so that will be a cruise round the med next October, taking in Cannes, Rome, and Florence......again all my "must see" destinations.

As you can see I am working on my bucket list.:rotfl::rotfl:

Still househunting. Still haven't found the one, I am not sure whether to up my budget and go for a bigger project. I have some investments maturing in November so I'll wait and see what kind of figures I'm looking at.

I am also off to Barcelona in November so although I am regularly scouring Right Move I might just keep my powder dry until after I get back.

Given that some of the investment rates are going down in October on some of my accounts I also need to rejig all my finances again.

Other than that not much news here. I've had a nice summer off - apart from the traumas of the burglary and the car crash. I am ready to get cracking again - albeit between travelling and having adventures.......;)

This week I shall be finalising the planting in DS2s garden and then I need to get a joiner in to do a few little outstanding bits and pieces and then my work here is done.:D

I reckon we have added about £50k to the value of this house, less the renovation budget of £25k so roughly £25k profit. not too bad for the first one but we need to get quicker if I'm to make that magic £1m.

Hope you are all keeping well and are on track........

Kayalana99

I never thought if he had stolen anything, I assumed you spooked him and that was that! Hope the insurance claim worked out in your favour.

Great news on the cruise, I do understand where you're coming from 4 weeks feels like you'd be living their rather then a hoilday, I'm actually starting to see the benefit in long weekends rather then a week away as it means we can afford to go different places....but then it can be quite limiting in other ways as you tend to do the simple stuff rather then the big things due to time restraints.

I know I come out with quite a few ideas but Hubbie and me are really focused on this, I have a few worries but we just need a few grand behind us and will be ready to rumble, unf time is getting the better of me ATM and I'm really struggling with the weddings to edit, brides wanting pre-wedding attention, my best friend has asked me to be MOH which comes with it's own set of time requirments & now booked in for dress shopping and venue sight seeing lol...and my degree is putting presure on me now tutorials are opening up/tutor wants to call me and also got a parents evening and 'homework' being as eldest is being seen my the speech thepist now they've given the school lots of extra games and things to do which he brings home with him... lol (oo yes and don't forget our faithful income from eBay and Royal mail on my back about opening a business account...can't wait as it will save sooo much money over Xmas!)

As you can see, I have a lot on...but never fear, I work well under pressure lol. I'm still managing to watch Netflix whilst working so I'm happy

En route to book my first £400 wedding and a second one in the pipe line who I'm 99% sure they are booking with me but awaiting them to get paid to pay the booking fee, the first one is in process of everything going through so fingers crossed...raising prices to £600 in the new year for 2018 onwards. Had a few enquiries for 2018 already but I've quoted them on the new pricing and not heard anything back - which is fine as I'm sure I'll still get bookings nearer the time, my work has really come on but I need the professional business feel to back it up. Not even got the website set up anymore.

Also, not really money related but weight loss has started and is going well for now, must have lost a few pounds as jeans are annoying me as they are falling down. Really fed up of being 'frumpy' and I just want to get this weight lost...being as I'm so busy it really helps.

4/4 weddings shot, 3/4 edited, starting my next one tomorrow. Think I've got two full weekends off till my next one now. Done my first draft for my two essays due at end of Oct to, so going to crack on.

Onwards and upwards.

(P.s for the amount of work I seem to do, why aren't I earning a full time wage yet?! lol)

Bmth100

LL, I too did not realize they'd made off with anything, the pure cheek. Sorry to hear that but good you're always so positive. I hope that you enjoy your Barcelona break, lovely time to escape the British decline into autumn (though personally it's my favourite time of year!).

Kaya, your wedding photography sounds like it is really taking off. I was telling my wife, who isn't keen on her job, that I wished she could do some kind of business like yours and used you as an example! Though I know it's no easy task.

This week has been great for me. My initial article for a client at £20 was approved. I've now, as a result, been given a whole batch worth £350, which should be about a week's worth of evening work, and I'm on a regular writer basis to receive more each month now! This is going to really boost the coffers.

lessonlearned

Good morning everyone.

KAy & Bmth. How lovely to hear of your progress, I am so pleased for you both. Sounds like your ventures are really taking off now.

Well I feel as if I've had an epiphany of some sort or maybe it's just that the "widows brain fog" has finally lifted.

I will always miss my husband - he was the love of my life and I will never meet his like again but I now feel that I am finally ready to lay down the "widow of mantlehood" and move forward to the next stage of my life.

So here's last weeks progress....

The landscaping on DS2 house is now complete and I shall just spend the next couple of days tidying up and putting the garden To bed for the winter.

I had a brief fling with trying to raise extra cash by doing surveys etc but have completely given up on that - just too time consuming for the rewards. I have unsubscribed to all my surveys, emails and Facebook stuff. I will be rationing my time on MSE. I am ready to reduce my "virtual existence" and get back into RL.

DIL has had to cancel the Barcelona trip due to the pressures of work. This actually suits me well. I have no holidays booked now until May so I have a straight run to lose 2 stones and get fitter. :rotfl:

After dithering about I have decided I do want a car so that's next on my hit list. I can manage without but it does severely curtail my activities so I shall try and get that organised in the next couple of weeks.

I have put an offer on a bungalow, a fixer upper. Just waiting to hear if my offer is accepted. I won't be too concerned if not. It's not my "dream house" - it's purely a flipper. IF I don't get it then i have drawn up a short list of possibles.

As you can see I have suddenly become a lot more focussed. :rotfl:

I freely admit I have been drifting for a while, undecided what to do.

I blame it on "widows brain" .

However, I think I definitely needed time to just take time out and deal properly with my loss. I had two deaths in quick succession, my husband and then 7 months later my mother. I think I tried to rush the grieving process and as a consequence my health and well being suffered.

The car crash and the burglary didn't help either.

However, I have had a good rest over the summer and now feel much better. Refreshed, re-energised and raring to go. Still attending Physio but am now down to once a week. Still a bit sore and stiff at times but definitely making progress.

It's a lovely day here so going to spend a couple of hours in the garden and then Physio this afternoon.

Onwards and upwards, my friends. .

lessonlearned

Good morning fellow would be millionaires.....

Quick update......

Found a nice car for DS2' a VW Passat estate. and I now have his little Fiesta which was originally my dad's. Neither car is anything posh but as we park on the street we don't want to risk expensive motors iyswim. .

The Mercedes (for me) and the POrsche (for him) can wait until we have suitable off road or garage parking. :rotfl:Anyway as per all the best money saving principles both cars are owned outright, so no loans etc.

Still waiting to hear about the bungalow. First offer was refused so I put in a revised one, but As I have not had a reply I shall assume it's a "no". I'm not unduly concerned, I'll carry on looking.

Other than that not much news.......except to say.......

We had a chat about Christmas and have decided to have a £10 limit on gifts. None of us feel we need or want anything and we are all busy decluttering and simplifying so we just don't feel the need for more "stuff". We will of course indulge in a few foodie treats but we will just be happy spending quality downtime for a few days.

Hope you are all well. It's quiet on here, does this mean you are all busy counting your money. :rotfl:

Stay well. Talk to you soon.