Make £10 a day - January 2014 challenge!! Everybody most welcome to join :)

Aesop

Have set up February thread now

https://forums.moneysavingexpert.com/discussion/comment/64490485#Comment_64490485

Aesop

2nd post updated now with new challengers and those I missed.

clingingtothewreckage, only calculate what you are left with after fees,and postage, as this is actual money earnt that you can use towards debt/savings/holiday/everyday living etc.

MrsCautious

clingingtothewreckage wrote: »

Hi Everyone

I know it is really late in the month but can I please join? I have been lurking and reading how everyone is doing and have been running my own challenge.

Inspired by you all I have listed some items on fle*bay and manged to sell 2 - but I am not sure how much I have to pay in fees etc. so I don't know whether I list the sale price or wait until I can work out how much the sale and post etc. has cost me.

Ditto with mileage claim re: tax

I am going to sit down and work out my current total for the month which I will post here later - just wanted to get started otherwise I will remain lurking.

Goal £10.00 a day

Good luck xx


The way I work out what I'll have after fees is to add together the price the item went for, plus the postage, then deduct 15 per cent of that whole, from the price it went for, as far as I know this then covers the ebay and paypal fees, I hope someone will be along to correct me if this is wrong.

The tax thing is interesting -- I have been adding gross figures for mystery shopping, without taking into account the tax that I will have to pay when the time comes. But I also have expenses such as mileage and (today for the first time) parking, so I need to get to grips with that and work out what to do, I think it would be better for me to reduce the amount I record for mystery shopping by 15 per cent (as I am a 20 per cent tax payer and have to factor in expenses.) I have only been doing it since November so it's not a massive sum to take off, I also need to get clear in my head how payments are taxable/expense claimable depending on whether they are actual fees for the job or reimbursements. There is a lot of good advice on this and discussion on the Mystery Shopping thread in the boost your income part of these forums.

When it comes to my mileage claims through work, which pay me 45p a mile, I have been counting these as non taxable.

I just had to pay a tax amount in January, and wasn't best pleased, will be more aware of what's coming this time next year.

dorajar

£20 refund for a Christmas present I returned that was no good, £8 Ebay sale and another £5 AGC from swagbucks.

kirstydriver

How does everyone keep track of their extra money?
I have totally lost count this month

Aesop

kirstydriver wrote: »

How does everyone keep track of their extra money?
I have totally lost count this month

the best way is to try and post when you make money. then add it to your signature.

some keep excel spreadsheets with income.

some write in little notebooks.

me... usually post to keep track, done nothing this month, got lost....

Aesop

going to try to remember what I have made:


£100 from a comp win to spend online only

£10 from shop and scan

£7 from nielsen mobile

£5 from DM rewards

£2.86 from qmee this month alone

£5 from gifthulk to amazon voucher

£1.68 from apptrailers

28p in amazon from topcashback

14p roadkill (1ps and 5ps and 2ps_

total £132.08

Aesop

just spotted this

https://forums.moneysavingexpert.com/discussion/comment/64490788#Comment_64490788

free searching app on mobile, maybe useful to some.

Thrifty_Fashionista

kirstydriver wrote: »

How does everyone keep track of their extra money?
I have totally lost count this month

I keep track in my diary, as I was always forgetting to update sig and then confusing myself!

I also write anything I have bought. This has really helped me to budget, and I have cut out loads of impulse buying over the last couple of months.

Tf x

emmaglet

kirstydriver wrote: »

How does everyone keep track of their extra money?
I have totally lost count this month

I have a few e savings accounts linked to my bank account - not for the interest, but for different 'pots'. Every time I get some challenge money into my bank I transfer it, then on the last day of the month I transfer it back out - to pay credit cards or into savings or whatever. Then I update here.

For taxable things I also have a spreadsheet.