Competitions i should enter?

compiaire

Hello everybody, im completely new to this forum and ive come here with competitions in mind (I have some other interests that I could pursue here but more on that later) so I am a 20 year old male living in northern Ireland (im mentioning this to give you all an idea of what competitions I might go for) and I have a fair amount of free time, anyway the whole point is that theres a good chance I will be travelling to America next year and although I am saving up my work wages I would also like to enter competitions to help supplement all of that (quick revenue/turnover etc) so I am not interested in winning electric toothbrushes, toiletries, food or any other similar junk I am only interested in winning electronics, cars, cash prizes and anything that could be easily sold, traded or bartered for a quick turnover.

I have no idea if this is the correct place to post this or not so forgive me for that.

looking forward to all your replies.

Greenqueen_2

Hi,

I have been entering comps for nearly 30 years and whilst I`ve won hundreds of prizes (some much more worthwhile than others), there is absolutely NO GUARANTEE of winning anything. There used to be far more skill involved in striking it lucky- usually writing a catchy slogan etc. Nowadays there are thousands of people all entering for the "big" prizes that you crave. The chances of bagging a car for example are less than slim.
Remember to factor in the cost of texts, phone calls and postage stamps.

DomRavioli

compiaire wrote: »

Hello everybody, im completely new to this forum and ive come here with competitions in mind (I have some other interests that I could pursue here but more on that later) so I am a 20 year old male living in northern Ireland (im mentioning this to give you all an idea of what competitions I might go for) and I have a fair amount of free time, anyway the whole point is that theres a good chance I will be travelling to America next year and although I am saving up my work wages I would also like to enter competitions to help supplement all of that (quick revenue/turnover etc) so I am not interested in winning electric toothbrushes, toiletries, food or any other similar junk I am only interested in winning electronics, cars, cash prizes and anything that could be easily sold, traded or bartered for a quick turnover.

I have no idea if this is the correct place to post this or not so forgive me for that.

looking forward to all your replies.

There's a competitions board at the bottom of the forum. All the comps are posted there, but decent prize comps will have thousands of entrants and a single prize - you'd be lucky to win once in a year, more like once every three years for the things you are on about.

You'll also have to register as self employed if you are selling goods.

compiaire

I see that on youtube there is literally only one person who has made videos about comping so should i assume thats because being a comper drains far more out of you than it ever gives back? Also im happy about the idea of winning amazon vouchers too.

DomRavioli

compiaire wrote: »

I see that on youtube there is literally only one person who has made videos about comping so should i assume thats because being a comper drains far more out of you than it ever gives back? Also im happy about the idea of winning amazon vouchers too.

Still won't happen. Stop dreaming, welcome to reality.

cte1111

DomRavioli wrote: »

There's a competitions board at the bottom of the forum. All the comps are posted there, but decent prize comps will have thousands of entrants and a single prize - you'd be lucky to win once in a year, more like once every three years for the things you are on about.

You'll also have to register as self employed if you are selling goods.

Just to correct the final point, there is no need to register as self employed to sell competition wins. In the UK, competition prizes are tax free. You can sell them without incurring any taxes, like any other personal possessions.

I like entering competitions, it's nice when you get a surprise win in the post, however it is definitely not a reliable way to make money. Most prizes are relatively small and the odds of winning are huge, unless you are entering for something very niche. There's never any harm in trying, but if you are looking for a money making opportunity, I would look on other parts of the forum for other activities that would have a higher chance of providing additional income. Good luck with your travels.

compiaire

DomRavioli wrote: »

Still won't happen. Stop dreaming, welcome to reality.

Im not dreaming, nor do I intend to invest a whole lot into this, emotionally or Physically which is why I am here asking questions, getting answers and looking into whether any of this is a worthy avenue to explore or not....and so far it doesn't seem like it. no dreams or delusions here.

compiaire

cte1111 wrote: »

Just to correct the final point, there is no need to register as self employed to sell competition wins. In the UK, competition prizes are tax free. You can sell them without incurring any taxes, like any other personal possessions.

I like entering competitions, it's nice when you get a surprise win in the post, however it is definitely not a reliable way to make money. Most prizes are relatively small and the odds of winning are huge, unless you are entering for something very niche. There's never any harm in trying, but if you are looking for a money making opportunity, I would look on other parts of the forum for other activities that would have a higher chance of providing additional income. Good luck with your travels.

theres a terrible lot to read and take in on this website, what would you personally recommend for a man such as myself?

DomRavioli

cte1111 wrote: »

Just to correct the final point, there is no need to register as self employed to sell competition wins. In the UK, competition prizes are tax free. You can sell them without incurring any taxes, like any other personal possessions.

I like entering competitions, it's nice when you get a surprise win in the post, however it is definitely not a reliable way to make money. Most prizes are relatively small and the odds of winning are huge, unless you are entering for something very niche. There's never any harm in trying, but if you are looking for a money making opportunity, I would look on other parts of the forum for other activities that would have a higher chance of providing additional income. Good luck with your travels.

If it is forming part of income then you pay income tax on any profit, and the OP's wording is more of an income stream rather than personal possessions.

Flyonthewall

compiaire wrote: »

I see that on youtube there is literally only one person who has made videos about comping so should i assume thats because being a comper drains far more out of you than it ever gives back? Also im happy about the idea of winning amazon vouchers too.

Probably. They may well be making more from the youtube videos than from the competitions they enter.

compiaire wrote: »

theres a terrible lot to read and take in on this website, what would you personally recommend for a man such as myself?

That depends on what you want to do. Surveys, blogging, writing reviews, PTC and more are all options. However, it takes time with them all and payouts/rewards are low (unless you manage to, for example, gain a good following on your blog or refer many people for a small reward on a survey site).

To get the amount you want from prizes such as cars and electronics the only real answer is to find a second job because it is highly unlikely you'll ever get that sort of cash otherwise, especially within a year.

DomRavioli wrote: »

If it is forming part of income then you pay income tax on any profit, and the OP's wording is more of an income stream rather than personal possessions.

As competition prizes are tax free and you are not getting earnings/wages or in any way working for the competition runners by entering competitions it is in no way a job and OP could do what they like with any prizes. Once given they are a personal possession. If they wish to sell them they can and how they use the cash is up to them. If they use the cash to support themselves that would be their choice. They wouldn't have to declare it.

libra10

This is the link for the Competitions board.


http://forums.moneysavingexpert.com/forumdisplay.php?f=72


Definitely worth reading.


Regarding YouTube videos, you have probably been looking at those published by Di Coke - a truly inspirational comper who concentrates on entering competitions with some effort involved.


https://www.youtube.com/user/SuperluckyDi


Good luck