Millionaire Challenge

tinktay84

Still going in the right direction though leictina! well done

We went to Marrakech a few years back, Im so glad we went for the experience but its far too busy for me. Fabulous place & would say you have to go there at least once. I looved the food, the people, the buildings jaama el fina was amazing to watch them set up the food stalls but im a quiet country girl :-)

nat21luv

Same for me but I had a hotel near the royal palace so it was so tranquil, worlds away from the medina so a perfect mix. I will have to go back, I fell in love with Marrakech but will leave it 10 yrs or so.

YoungBusinessman

Just wanted to pop in and say hi before i get my early night!

So hi all, hope all is going well. I have never been more determined to do this challenge than these past few days, im putting everything into it i know by the end of this year i can go away for a weekend away and relax knowing i made the most of every situation 2013 threw at me. Fitness levels increasing daily so is my self esteem.... bank balance will soon follow!

Roll on the 18th, money makes money

gothrockchic1

Hi all I'd quite like to join. I hope to do it by the time I'm 37 that gives me 5 and 1/2 years to do it.

Is that a realistic goal?

YoungBusinessman

whats your plan of action gothrockchic then we will know if its realistic! Alot of wannabe millionaires plan of action is buy a lottery ticket and hope for the best.

gothrockchic1

YoungBusinessman wrote: »

whats your plan of action gothrockchic then we will know if its realistic! Alot of wannabe millionaires plan of action is buy a lottery ticket and hope for the best.

I know a lot of people say that!! That annoys as I know it takes a lot of hard work. My plan is to train for a better job so I can fill my ISA. I will then move onto Investments and Shares. I also have an idea of a clothes and jewellery business as well. I want to have my own boutiques chain but I am currently working on a plan for that.

gallygirl

YoungBusinessman wrote: »

Alot of wannabe millionaires plan of action is buy a lottery ticket and hope for the best.

Is that not a viable option?

Best get working on Plan B .

lessonlearned

Now my journey really starts......

As you know last year for me was just about keeping my head above water and trying to survive on what amounted to little more than fresh air. Well I did it and am here to tell the tale.

Last year my liabilities outweighed my assets. Not now. This year is where I ratch it up and really get cracking. This is where the fun starts. So.............now time to take stock. Where do I stand and where I go from here.

House sale now successfully completed, money in the bank. No debts. We are now unpacked and organised, just a few tweaks required. This property is a rental, so other than rent and the usual bills, there will be no further outgoings such as maintenance and repairs. What goes in my bank, stays in my bank.

This year's plan will be broken down into two parts.

Part I - save and earn as much as possible for 6 months, until my endowments and investments mature. Then take it from there.

During this stage I aim to go on a couple of courses, attend any free lectures or seminars that come my way and continue my financial education, preferably for free using the library and the internet. I don't need letters after my name in order to get a job, this is just for me so no point paying for college courses. I can learn in true MSE fashion.

So first things first - this week I intend to have a major financial review. Then as per Tinks' suggestion the other day the plan is to do one thing per day to increase my wealth.

So far I have switched our Broadband/Phone/TV saving approx £60 per month, fixed gas & leccy, and got a rebate of £200 plus from old energy suppliers.

I've turned our dining room into a mini gym. This will not only save the monthly fee but also travelling time to and from gym, say 3 hours per week - which can be put to better use, plus the cost of diesel and incidentals such post exercise drinks and snacks. I reckon around £60 a month saved there.

So outgoings reduced so far by around £120 a month. This week's review will probably show up ways I can cut back further. The food bill can certainly be trimmed quite a lot. :rotfl:

The main focus this week will be looking at the best savings and current accounts and move money around to make it work harder.

Hi Gothicrockchic. Welcome aboard.

Can you do it, why not. Go for it. The road to millionairedom may not be easy but it will be interesting.

YB is quite right - lottery tickets are not the answer, nor are get rich quick schemes. A good plan and hard work is the answer.

Enjoy the journey.....

lessonlearned

gothrockchic1 wrote: »

I know a lot of people say that!! That annoys as I know it takes a lot of hard work. My plan is to train for a better job so I can fill my ISA. I will then move onto Investments and Shares. I also have an idea of a clothes and jewellery business as well. I want to have my own boutiques chain but I am currently working on a plan for that.

Here's a book you might find of interest. It's called "A Pocket Full of Hopes and Dreams by a guy called Jeff Pearce. He built up a chain of boutiques.

citizenkitten

Ruffles wrote: »

Tink- I just wanted to say try not to take the criticism personally. Whatever you do in life, there will always be people out to rain on your parade. You will never please all people all of the time, just be true to yourself and ride out the storm.

soo agree to this.

nap times - i also am a very weird sleeper, find it hard to have restful sleep, as i can wake up a lot, have terrible nightmares etc. i now sleep when i can and try have good sleeping habits.

LL- good news re home and the no cancer!!! people say house moving is as stressful as a divorce and you seem soo cool about it!

tink - oh god yeah, have to celebrate every sucess, i am now also on a personal diary, got given it as a christmas present and going to try live every day better. yay to the holiday in cape verde! well jealous!

YBM - inspiring me there with trying to get some excersize in my life, only last year i began to really miss my previous fitness levels. i think my neck situation has really hit it home.

gothrockchick- if you already own your own home etc, then i dont see why anything is not possible. if you find a sustainable way to cool the london underground, there is a million pound reward for that.

mark - welcome please do join us! we are our own cheer leaders here.

my news - well my OH is due to ask my gparents for permission to marry me, lol! not because we need to, but because it is important to them. havent dont any more wedding organisation because i feel without the ring on my finger it is a bit fraudy lol. so yeah think we will get engaged whilst on a short break at the end of jan. but I AM SOOOOO trying hard not to second guess it! :rotfl:

getting a second opinion on the dodgy tooth of tuesday so i will know what my options are, unfort it is looking like root canal and a crown are my only options. (f* the pain, the cost is the real !) the neck is going to have to wait but i am going to try and find ways to physio myself.

already midst of switching my bank acc to first d, so hopefully that will be £125 towards something, going to switch our internet and phone for a massive saving of £7 per month! LOL!

i am trying to reduce our grocery budget and as of 1 feb i am going to post every penny i spend up on the wall so my OH can see and hope he follows me. to be more prudent.

got a planned treat night booked, saving 50% promo WHOOP!

i am revising my career/job so that i can make a lot of points for a pay raise. and lots of plans to fufill my potential there.

happy sunday guys!