Millionaire Challenge

LiamLinley

Hey everyone, I’ve been using the money saving expert website for years but have only just found this thread. My names Liam and I’ve begun the challenge of making a million pounds. I tried this 10 years ago when I was 21 (and started to document it on YouTube; super cringe videos looking back) but university, work, and life in general just took over. I’ve started this again because my wife and I have just had a baby girl so I’m SUPER inspired to do this for her and FULLY committed this time around. 10 years older, 10 years wiser 😂
I’ve read a fair few pages of this thread and you’re all doing amazing.
I’m starting with just 1 penny and I will grow that to a million, firstly through active income, but then through passive income which a lot of you talk about on here. I’ve recently used that penny to purchase a job lot of items that were going to get thrown in a skip, and I think I’ll make a few £100’s profit which I’m so excited about. But, due to the new lockdown I’m looking for a few online ideas to try to make some initial investment cash if anyone has any suggestions 😁

Thanks so much everyone and I’m looking forward to contributing on a regular basis 👍

droopsnoot

Welcome to the thread, it'll be interesting to read your progress. Have a browse around this section of the forum if you're looking for online ideas, there are quite a few discussed in other threads. You probably won't find a great deal of specific details, but there might be enough to point you in the right direction.

Derek95

That's a great idea and shows you are an ambitious and independent individual. More power to you and good luck!

Listerbelle

LiamLinley said:

Hey everyone, I’ve been using the money saving expert website for years but have only just found this thread. My names Liam and I’ve begun the challenge of making a million pounds. I tried this 10 years ago when I was 21 (and started to document it on YouTube; super cringe videos looking back) but university, work, and life in general just took over. I’ve started this again because my wife and I have just had a baby girl so I’m SUPER inspired to do this for her and FULLY committed this time around. 10 years older, 10 years wiser 😂
I’ve read a fair few pages of this thread and you’re all doing amazing.
I’m starting with just 1 penny and I will grow that to a million, firstly through active income, but then through passive income which a lot of you talk about on here. I’ve recently used that penny to purchase a job lot of items that were going to get thrown in a skip, and I think I’ll make a few £100’s profit which I’m so excited about. But, due to the new lockdown I’m looking for a few online ideas to try to make some initial investment cash if anyone has any suggestions 😁

Thanks so much everyone and I’m looking forward to contributing on a regular basis 👍

Welcome Liam.
Children's first few years needn't be expensive. Try to borrow items from other people. Our family has benefited economically and "morally" from a movement called The Buy Nothing Project. If you use Facebook, look for your local Buy Nothing Group. I right "morally", meaning morale. It's so wonderful to be able to pass items on to other people for free, to meet and help other neighbours, and save money, the environment and personal energy.
Doing this for our children meant that we can live off one salary. I know that we can do a lot better with our finances. We have however met the goal of this post: 1M pounds net.
Best wishes!!

Listerbelle

Muhren said:

Muhren said:

So I managed to go quite a way beyond my end of year target, I am now standing at just over £279k including the house and just over £157k without. This has in part being due to the shares that I hold in the company I work for recovering, not quite back up to where they were but definitely a vast improvement from where they started the year.

So what is the target for the end of this year then.... I am going to aim for £320k, again that is going to be tough but I guess you have to aim high.

Happy New Year everyone, and I hope 2020 will be a great year for you all.

So now that we have got that **** year out of the way, here is to a healthy, happy and successful 2021.

It must be the first time in years that I have not had a hangover on New Years Day, so I have gone through and had a look at where my finances were at the end of 2020. I managed to hit my year end goal, finishing with £324k with the house and £198k without. That leads me onto my target for the end of this year, I am aiming for £375k, let's see how this year plays out then.

You are doing great!

makingmymillions

What better way to start the year than not only joining mse but joining this challenge! I have a way to go as I worked out my worth to be just £32,979, but my goal is to be worth £1 million in 2 years time. 
So, me at present, I own a small house with only around £35k equity and have debts of £2168, not including my mortgage. This does not phase me at all as I believe I have what it takes to change this around. I qualified as a hypnotherapist and NLP coach right at the beginning of 1st lockdown, and things have dwindled to zero on the income front as I have also lost the little side income of nannying due to covid. However, I am going to use this 3rd lockdown to write a book, and I would like to get into speaking gigs when this craziness gets better, so will look at how to learn those skills. This is very exciting despite that it should feel bonkers to decide to become worth £1 million just when I have no income at all! I am very into LOA, and will go at this practically as well as using manifesting, what have I got to lose?
So let's do this thing. 2 years to become worth £1 million...I'm on it

dcfc67

What sort of circles do you mix in, are all your friends using messaging services any internet savvy ?
Look at refer and earn options, 
Do you use Sky or Virgin TV ?
if you do and refer people you get a reward usually in the form of a prepaid credit card. Think Sky is currently £75 use this to pay for shopping and bank the value of the reward card as cash.
Same with many gas/electric companies. My provider Octopus gives both partied £50 bill credit. Refer 6 friends and thats a big chunk towards your winter bills and another £300 in the bank.

Even small things like having a HP printer where you pay a monthly fee and buy a package to print pages. 
I've saved a fortune only pay £3.49 a month for 100 pages which can be rolled over. refer a friend (i've done over 12 mostly through this site all total strangers) and get a free month for every one.
Look on the referral forum on here for ideas but only put your codes on once or its gets removed.

I wish you all the best.

Foreverfinance

This is 100% achievable but it will require some frugal living and an investment in improving your financial knowledge

BarbCh

MikeR71 said:

I don't think you are mad. I think you can definitely do it if you have the right ideas and work hard.

My problem is the idea. I am prepared to put in all hours of work but I don't have any ideas.

I dont think you are mad either! 
About 10+ years ago I  managed to get onto Who Wants to be a Millionaire. During rehearsals we each got a chance to sit in the chair and was asked questions by the producer (pretending to be Chris Tarrant).
One question he asked everybody was: How much have you come here to win?
The majority of contestants replied, "I'll be happy to get to 10k 32k etc..... so it gets to my turn and me being a bit cheeky in my response said..... "well I'll give you a clue.... my answers in the name of the show!' 
The producer laughed and the crew clapped! 
'Well at last someone has come here to win the million' the producer replied! 
I didn't  get in the chair.... but of those who did.... guess how much they went home with! 

It's all about aiming high.... if you are motivated enough, you will do it! Those contestants on the show with me, got scared when they reached their target that they had set themselves..... not wanting to lose it, they stopped where it felt comfortable... so you go for it, break your comfort zones .
Good luck 

Muhren

BarbCh said:

MikeR71 said:

I don't think you are mad. I think you can definitely do it if you have the right ideas and work hard.

My problem is the idea. I am prepared to put in all hours of work but I don't have any ideas.

I didn't  get in the chair.... but of those who did.... guess how much they went home with! 

More than you?!