Millionaire Challenge

MiddyMum

Joining this thread, will come back and reply fully once I have finished reading. I am at page 17! lol

lessonlearned

Grrr - just lost my post.

Middy & musashi - hello and good luck.

Nothing new to report ......yet!!!!

Leictina - just keep going.

YoungBusinessman

How is everyone getting on? My net worth is steady increasing....saving a deposit started last month, upto £3,040 already. Hope i can smash £5k by the end of this month.

Everything i had start of last month went into an emergency fund so i can access money if i have to. Shouldnt need to touch it though, hopefully £10k by end year, £20k by April 2013 and then emergency fund can grow Starting a limited company April 2013 aswel.....Watch this space

tinktay84

Musashi10, may i ask how old you are (no prob if you dont want to say) I dont think your crazy, after all I thought everyone would call me crazy but ive found so many people who obviously agree with the mindset.

YoungBusinessman, you are going great guns! Its great to see you doing so well!!!!Keep it up & you'll be looking back wondering if you were ever in debt as it will feel like a dream

Well ive now got people selling soaps, candles etc for me with profits being split between myself & the seller. Hoping to build up enough of a following that I could open the much elusive retail outlet that I keep saying I want. The items we sell are all handmade/british made so we are selling on the british made/british jobs angle.

Ive had a few, shall we say, little niggles this week. One person trying to gain money out of me which would also mean I end up losing more money via tax! Luckily I keep good records & have a VERY good memory

Ive had a lovely man who was looking for a job sending me abusive emails & calling me a man hating little girl with a big chip on my shoulder.....hmmm haha. Funny he didnt answer the phone when I tried phoning him......

lessonlearned

:T:T Young Businessman. Great progress.

Tink - had to laugh about the man who thinks you have a chip on your shoulder. Perhaps he just likes the idea of wearing pink.:rotfl:

I too am looking at a retail outlet but think I will probably start small and go for a stall at our local craft/antique market.

This will have to wait a few months yet though because I cannot start trading yet. I am currently receiving benefits until my pension kicks in at the beginning of November. Obviously I don't want to do anything naughty or illegal whilst on benefits. Once I am in receipt of my proper pension I will be self-supporting and have no need of benefits.

My pension will pay the bills and anything I earn will be mine to keep, to invest or spend as I see fit.

In the meantime I am currently just putting the finishing touches to my house so I can put it up for sale. I had a minor set back - kitchen fire - long story. Fortunately mainly smoke damage, nothing too serious.

If I can downsize I can then free up some seed capital and get cracking. I've got lots of ideas and am really looking forward now to start building that little empire.

YoungBusinessman

Cheers guys, yes i have been making progress...not as much as i would perhaps like so its time to step it up a bit!!

Unexpected bill for van repairs has hit me, £1100...hitting me harder than it should!! If we are in a millionare challenge, £1100 is really small change!! Yet its hit my pocket quite hard. I will have it back in no time. Took out my deposit fund that i just started 3 weeks ago so that is now down to £1,900ish.

SO for the good news, payday on Friday!! Should see £1,300ish in. £800 of that goes out to loans though. After that i have 2 net payments coming in at £450 and £600, so £1,050 before my pay on the 28th September(£1,300ish again)

By my rough calculations this puts me upto at least £4,500 by the end of September once all expenses are taken care of! :T

So leaves £5,500 to be saved by year end with 3 months remaining after this one(!!!!!!, where has the year gone!!) I make that £1833 a month left to save with my average so far upto end this month being £2,250 a month.

Love playing about with the figures and seeing what can be achieved. Will feel great hitting the £4,500 mark this month but roll on the £10k by year end and then £20k mark by April!! :money:

tinktay84

Youre as bad as me playing with all the numbers!haha Im currently doing some homewares/soap/candles sales on the side (but not on the side tax wise!) which should hopefully keep the coifers topped up. Business is going well as far as bookings, payments etc but still got some niggles to work through. Im so chuffed with how many people know me now!!! Ive always been the one no one remembers but now im the one no one forgets weeee :-)
got some lovely comments from customers today too so im happy

YoungBusinessman

That is exactly the same as i was away to post, word of mouth is helping me out so much right now. Will continue with my advert in local paper. One day i will eventually manage without it! Been getting good reviews from some customers aswel who seem delighted with how effective my work is.

Play about with the numbers way more than i should but hey it will all be worth it when i hit that magic million pound wealth mark Im aiming by 30 which gives me 9 years!

CharllieSays

I found this thread by accident after reading several other unrelated posts on this site and thought I would add myself to the wannabe millionaire group! I started in 2008 and have gone through a long period of unemployment, debt and relocation for work, but still focused on my goal! So I won't clutter up this thread with more posts. But I wish all of you the best and hope to see you on the other side!

YoungBusinessman

Is this it? http://thriftymillionaire.wordpress.com/

I feel like starting up my own blog, getting thrifty as possible in an attempt to get wealth as high as possible. I feel once i hit a decent goal (£25k or something ) it will soon shoot up.