The Alternative Millionaire

gothrockchic1

magic57 wrote: »

I will follow this thread with interest gothrockchic1. Like many others I dream of making some extra money and try to find ways to do it. I wish you lots of luck and I'm sure you will achieve your aim.
I disagree though when you say in your first thread that you have never been successful at anything. You have held a job for nine years which shows you are relaible and have sticking power! You are already a success but I wish you luck in becoming even more successful and reaching your goal.

Hi magic57 thanks for stopping by. The nine years have been with two different companies I guess not being unemployed is an achievement. But you've got me thinking about else I have achieved too

gothrockchic1

So tomorrow is Thursday which means that it's two weeks until payday. If I am good I will have money leftover so that I can save. I also signed up for my NUS extra discount card for £12 I think it will pay for itself with all the discounts.

This weekend will be quiet, apart from buying my sisters birthday present that is all I need to buy!

MissRarr

Good luck! Love the positive feel from this thread and will keep reading - hopefully it will keep me focused as well. Trying to chip away now while I'm 'young' to have a fund to start doing what I want to do, rather than what other people want me to do, in future - so I'm with you!

somethingcorporate

Good luck.

Do you actually have a plan to get to £1m over the next 7 years? It means putting aside on average over £100k a year, most people won't earn £1m in the next 7 years of their life so to have that as wealth in such a short period time is quite ambitious.

gothrockchic1

Hi MissRarr , thanks for stopping by and for your support!

Hi somethingcorporate yes I have a plan. But as with anything it is subject to change.

For some people this is a huge goal and I think it is achievable. But if I didn't hit a million I wouldn't be disappointed if I was close to the target. It's better than doing nothing at all.

gothrockchic1

So my savings are going to be a bit up and down in the next two or three months. The first reason is my 0% credit card is due at the end of next month. I have in the past used 0% credit cards to help me save for something else this time I am paying it off completely as I want it gone!

The second reason is my OH and I want to rent a larger place. It means with the extra space I can pursue my other interests and also start making money properly. So I will be taking money out of savings for the deposit and getting deposit back on our current flat.

In the meantime EBay will be my best friend!

Wizzbang

gothrockchic1 wrote: »

So my savings are going to be a bit up and down in the next two or three months. The first reason is my 0% credit card is due at the end of next month. I have in the past used 0% credit cards to help me save for something else this time I am paying it off completely as I want it gone!

The second reason is my OH and I want to rent a larger place. It means with the extra space I can pursue my other interests and also start making money properly. So I will be taking money out of savings for the deposit and getting deposit back on our current flat.

In the meantime EBay will be my best friend!

If you really want to make your goal, you will need to re-think your plan to rent a larger place. Search for Dave Ramsey on the internet and you will find a lot of useful advice, if you can ignore some of the Americanisms. His motto is "live like no-one else now, so that you can live like no-one else later'. I love this motto. You are really going to need to bear this in mind!

If you want to save money, you need to be in the smallest place you can afford and also minimising your expenses. He uses the example of a couple who rented a studio flat over a garage for a number of years. This enabled them to save enough to buy their first place outright. You are going to have to think about the difference between 'want' and 'need'. I would have a good think about other 'free' spaces that you can pursue your hobbies, or whatever it is you think you need more space for. Think- libraries, community centres etc.

You will never make money properly if you waste money on rent. In the same way you want to pay off your credit card, a mortgage is the same- a ball and chain to the bank and paying back far, far more than you ever borrowed. BTW- I am 32- the same age as you and just take a look at my signature to see where I am. I don't say that to boast- but because I would love other people to be in my position and to be free. Now I don't have money worries, I can pursue whatever interests me. But you have to get things in the right order- pay everything off FIRST, so you can do what you want LATER.

I also recommend you look up something called Minimalism. A great place to start is by searching Becoming Minimalist by Joshua Becker.

gothrockchic1

Thanks Wizzbang. We have been living in the same small space for two years. My OH's stuff just takes over the flat. Also he is not totally on board. I have explained my reasons for doing this and he fully supports me. We just don't have space to have friends over. By moving it means our entertainment bills will go down as we will have friends over. Also bigger flats aren't that expensive or much more. Now my OH is working and in a permanent job we can both afford somewhere bigger, some where we can settle until we move again (when we will buy).

I am still trying sell my OH on the Frugal lifestyle, it will take time and I will be looking into the cheapest flats too to help us save for our own place. I will also look into the books you have recommended to me, see if I can find them in the library and I love that motto too! It is really thought provoking!

gothrockchic1

Evening everyone. Today has been relaxing I took a walk to a museum I haven't been too. Then a stroll to the library. There wasn't very much in the way of "get rich books" certainly nothing that has been recommended to me. I got the Rules of Wealth by Richard Templar. There are a lot of rules and they are thought provoking if it's good I'll let you know

I have also started the clear out. The amount of recycling I have taken out is huge. I also realised how much money I have wasted over the years. So that was a light bulb moment for me. So no more waste!

So tonight I have stayed in despite lots being on.

Wizzbang

I haven't read a good 'get rich quick' book! They tend to be American, annoying, unrealistic and also very formulaic! Don't forget to add plenty of positive thinking! LOL

You could try a reservation to get a book from another library in your county, you can browse the catalogue online. I usually find something decent this way! Or, make an inter-library loan request? Beware some libraries charge for one or both services, depending on where you live.

For a good read online, try Mr Money Mustache, The CashCow Couple, Zen Habits and these will link to other good ones.

I have just requested the 7 habits of highly effective people which has good reviews. Don't know how long it will take to come in though! Let us know of any good reads, online or books.