Millionaire Challenge

helensbiggestfan

Hello my friends.    

Well we are all very quiet on here, so I thought I'd just bump the thread.  See if I can jolt us all into action......or is it quiet because you are all too busy counting your millions. 😂

All is good here.  I have had my second covid jab and have now ventured out of my self imposed isolation. DIL now safely delivered her baby so I feel more confident about getting out and about a bit more.   Managed a short holiday, just a week in the Peak District, basically just up the road.....😂 but it made a lovely change from the hum drum monotony that was becoming more and more like Groundhog Day.  

So, after a year of lockdowns and concentrating on diy and home improvements I am ready to get cracking again and try and kick start my journey to wealth.   My home efforts have added around £40k to the value of my house so the time hasn't entirely been wasted.  

 I have now launched a little sideline business, selling vintage clothing.  Started trading last week and have made 5 sales so far this weekend.  Happy with that as a starter and hoping to grow the business over time.  Of course It won't take me to that magic £1m but it's a nice little earner and maybe it will open more opportunities further down the line.   

Hope you are all doing well.  

Sapindus

I have met some people who were definitely worth at least a million, and one thing I have noticed is that they tend to be incredibly "stingy".  They would argue and chase down ridiculous amounts, demand refunds, shout at their kids for leaving a light on, but drive a top of the range land-rover.  They'd have a cleaner, but leave the cctv on to make sure the poor soul wasn't slacking. They always had an eye out for the next way to make or save a bit of money, or pursue goals that didn't initially seem to be financial ones.  Sometimes it seemed paradoxical the things they would focus on, but I would always say "that's how rich people get rich".
And then we've all met someone who claims to be skint but when you look at their budget there's something in there that you wouldn't think was essential.  Some unexpected luxury that they justify by saying it's "worth it" because it's good for their wellbeing.  Mine is my elderly cat, for example.
I knew someone who was getting divorced and said all she wanted out of her ex was her personalised number plate and her holiday cottage in Cornwall, and she was claiming free school meals.
It's something I often ponder.  We all have priorities and standards against which we decide whether we're doing OK or not.  And I wonder who is really happiest?

helensbiggestfan

Interesting comments there Sapindus.  

Tbh I see nothing wrong with being careful with money. And I see no contradiction in chasing down invoices when people are slow to pay me, or asking for refunds for substandard goods and owning a nice motor.  I don't see the two approaches to money management as being mutually exclusive.  But then tbh I don't see range rovers as particularly extravagant....they are just very comfortable workhorses, not exactly Ferrari's. 😂. 

I think that what, on the surface, might come across as "stingy" is often just simple common sense and no more than "good husbanding of resources".  I certainly nagged my kids for leaving lights on.......Not just for my bank balance but for the good of the planet.😉. Why light up rooms that are not being used......I only had to say "Blackpool Illuminations" and they got the message.  Now that they are paying their own bills they are grateful for my nagging and they now follow my example.  

I agree the use of CCTV might seem excessive but do you know the reason it's on.....did they tell you it's because they are monitoring their staff or is it because they have been burgled in the past.  As long as their staff know and are happy with the arrangement.  

It's true some of the richest people on the planet do live surprisingly modest lifestyles but then it's also true you don't get or stay wealthy by squandering money.  If people spend up to or beyond their means then they will never be comfortable, let alone happy.  Overspending and getting into debt is a sure fire recipe for misery. 

I guess we are all different and we all have our little spending quirks, odd ways of saving and cutting back on what we may deem unnecessary expenditure.  We all have things that we won't compromise on.......for some it might be a nice motor, for others it might be a good holiday.  

I too listen to people complaining about how skint they are. I agree with you, when I look at their spending I can see why.  It's often pretty obvious where they are going wrong, but they either can't see it or the arent quite ready to face the facts.  You can take a horse to water but you can't make it drink.  😂. 

My youngest son was an absolute shocker, lurching from one financial crisis to another, until he had his lightbulb moment.  Now he's a reformed character, well on his way to FIRE.  

As for who is happiest.......the savers or the spenders, who knows. 🤷‍♀️    Some people see saving as deprivation and missing out on all the fun stuff they could be having right now, some see delayed gratification and building up wealth as peace of mind in the present and the possibility of a rosy future.  

The best things in life are free, and sometimes the best things aren't things at all.  😁

Kayalana99

Morning guys,

I don't think I've logged on in years but thought I would say hello! 

I could sit here all day on an update but I think best I can say is things financially are going well, no where near millionaire status but I'm starting to see the light at the end of the tunnel.

I had a promotion at work, which meant I've officially left the benefit train, my divorce is sorted (pending sorting the house out now) and still just plodding on. It's nice to be able to say I'm a self-supporting single parent as it is not easy financially without two incomes coming in. I do hope to find a decent guy at some point but I wasted the last 3 years with a very toxic person. I'm taking some time out, getting my stuff together and then I'm sure I'll be back in the game...with a lot more experience of what I want this time and tools to make the right decisions (cheesy but true haha)

My house needs a lot of DIY but I have around 5k savings, and I think the plan is now to keep adding to this so I can turn this into a B2L and purchase myself a smaller house until I build funds up again to either purchase something bigger, or even another B2L. It was always the end goal...it feels a lot more feasible now.

The house has a lot of money in it now, more then 25% eq as well for the B2L...but need my ex to sign the house deeds over which hopefully should get sorted in the next few months. Will make a decision at some point as other case I can sell this, and perhaps purchase two smaller properties with the money that way without having to go through the DIY route with it.

Also got my Photography up and running (sort of) all equipment has been pretty much purchased and I've had two weddings this month but no further bookings, but I'm not really advertising properly or got the website etc set-up but my ex has the kids every other weekends so it means I can pick up the odd one and use the extra money to fund the next property/DIY this one as it will all be extra.

-- I've not gone back more then this page but your right, my Dad will pick up pennies from the floor and has nearly taken someone to court over such a small sum....but went on holiday with them last year and it annoyed me so much how much food they purchased and how much got wasted!! It does seem to be something in-built that they are doing XYZ for some things and not others.

helensbiggestfan

Good morning Everyone 

kaya.   What a lovely catch up post.  I wondered how you were getting on. I am so glad you are finally free - we don't need toxic people in our lives.   My mantra has always been "Better no man, than the wrong man". The same applies to all you lovely gents out there too, better to go solo than remain in unhappy and unfulfilled relationships. Yes it can be tough financially going it alone sometimes, especially if you are a single parent. 

Kaya.....sounds like you are making really good progress with your goals, just keep going. And well done you for managing to get off benefits.  That's a huge achievement.   Good that your photography is doing well.  Now that the spectre of covid is finally receding (although I appreciate we're not out of the woods yet) there should be more opportunities for you.  

Speaking of lockdowns etc....I have used the time to really crack on with the renovations on this house.  I am aiming to put it on the market in the spring.  There is a lot of equity tied up, my plan is to downsize and free up capital.  I have spent the last few months steadily decluttering in readiness.  

In the meantime I have now set up a little sideline selling vintage clothing, it won't make me a millionaire but it's a nice little earner.  Every little helps.  

I doubt that I will make that magic £1m but I am financially secure and independent,  happy and content.  

And never say never.  

It's been a difficult couple of years for everyone but hopefully 2022 will see us all moving forward.  

_theinsider

So...this thread looks to be over 10 years old now...has anyone achieved or are they close to achieving the millionaire challenge?!

helensbiggestfan

No, not even close but certainly in a far better position than when the thread started.  

droopsnoot

I haven't either, and have done relatively little towards it, but have achieved some small things.

makingmymillions

Not yet but have retrained and adjusted life to be in a realistic position to get there. I have a self-help book launching on Dec 3rd (The Fairy Godmother Mindf*ck; how to rewrite your life story and create your own destiny and happy-ever-after) and levelling up my coaching. What was a wish to become worth £1million is now a solid action plan. This time next year!

Kayalana99

It looks like I'm bumping up an old thread but wanted to update I'm still only in my early thirties so I have plenty of time to actually achieve this!

I don't want to prat on about im but I went back to the toxic guy again and fell into the same loop, I suppose it's a difficult situation to really get out of, but it's been over 3 months now since I broke from it again and I hand on heart have no desire to go back - too much has gone on.

I set myself three goals once I broke up with my ex, and I was not allowed to start the next goal till I completed the first one. 

It took me 2 months, but I finally quit smoking. It sounds such a trivial thing to some, but I do not have the body to be a smoker. I was constantly stressed and felt sick due to what it was doing to my body and I really was struggling to keep on top of self care due to the feeling of being 'under the weather' I guess, but any attempts to quit were short lived as I seemed to have a mental breakdown - don't get me wrong as normally I have no mental health issues but I've never been great with changes in hormones and it was bringing on a depression/anxiety attacks that quite frankly I have never experienced in my life..but each time got a bit easier and I finally cracked it.

Anyway, during this time I started excelling at work as I finally had my head clear and spare time. I had a very spilt job but part of this job was managing finances - and it kinda makes sense really but I smashed anything related to this... which resulted in me having a promotion and moving into the Finance Team, it really has felt like finding my home... and due to some change arounds with bonus and an increase in wage, I found myself in the position of being able to remortgage my house to take enough out to buy a 2nd property....

If any oldies know from my old posts, I haven't gone back and read them but I know what I'm like, my dream has always been to own that B2L. I'm still going through the re-mortgage application process to get the money out, but there is absolutely no reason I won't be purchasing a 2nd property this year and officially becoming a LL.

The only thing really missing from my life now is a decent relationship, I have to admit I've never been great at being alone - but I know that eventually when I'm ready, I'm sure I'll be fine finding someone. I've always basically been in long term ones, so this is the only real free time I've had where I've actually just focused on myself, I admit it does get a bit lonely sometimes when my friends are busy and I'm child free for the evening, but I'm 1000% happier then I was 6 months ago with the wrong person.

Goal 2 is now fitness based, I've been lifting weights and cardio for the past 3 weeks now, I really can't see myself wavering from this now. It's just a matter of time.

Goal 3 is financial ... TBC