Competitions i should enter?

Wizzbang

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?

The best advice would be to invest some of your precious time reading this forum. Then try out its advice and find out what works for you. What works for one, will always be different to another. Different people are prepared to invest differing amounts of time etc. You will find that not many people are prepared to share what works with you because they are busy putting it into practise! Why should others have to read and find it out themselves, only to make life easier for someone like you? I don't mean to be rude in saying that, but you are expecting other people to drop the answer in your lap. There is no get rich quickly option to boosting your income, only the pay off for your work- however much effort you want to put into it.

CrazyKitten

I say go for it! With Comping you could enter all year and win nothing but at the same time win loads.


Since December I've won £25 amazon voucher, £50 Tesco voucher and £50 Iceland voucher that's a months shopping for me and a great saving. I started on twitter as its quick and easy there are lots of facebook comping support groups too

cte1111

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.

You are incorrect I'm afraid. Any income from selling on your competition wins is free of tax in the UK. The income generated from selling your personal possessions is not part of your taxable income. Even if you enter the competition with the intention of selling the prize, it would not be taxable. The UK has a generous exemption in the case of prizes, which is why the rules have to state that employees and their families cannot enter, as otherwise this would risk becoming a tax avoidance route for employers.

If there were a capital gain {I.e. You won an antique piano, it was worth £5k when you received it and ten years later you sold it for £20k) over your CGT limit, then this could be taxable but I can't think of any prizes where that would be likely to apply. The starting point for any CGT in this instance would be the value of the item when you received it.

cte1111

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?

My recommendations would be matched betting (if you are prepared to really follow the rules and have some capital) and Textbroker. I'm making a reasonable income from writing articles on Textbroker currently. They both require a fair amount of faffing around, are not great rich quick ideas but do have the potential to make a few extra quid to put towards your trip.

There are threads on this forum on both of these topics. Alternatively, look for an evening job in a bar, it's probably the simplest way to make some extra money.

compiaire

Matched betting as in putting money down on horses and things like that? Also iM wondering what types of competitions are the best to enter, for example: there are competitions where you have to ring or text, others where you post something off and lastly ones were you just apply online ( and therefore its free unlike the others) so im just wondering what ones out of that lot give the best return for the money/time spent on them?
Thanks

Flyonthewall

cte1111 wrote: »

My recommendations would be matched betting (if you are prepared to really follow the rules and have some capital) and Textbroker. I'm making a reasonable income from writing articles on Textbroker currently. They both require a fair amount of faffing around, are not great rich quick ideas but do have the potential to make a few extra quid to put towards your trip.

There are threads on this forum on both of these topics. Alternatively, look for an evening job in a bar, it's probably the simplest way to make some extra money.

I joined Textbroker but stopped checking there after never seeing a single task. Heard plenty recommend it, which is why I joined in the first place, but never did anything at all on there as there was never anything there to do so rather confused as to why that is.

Based on that, it obviously means nothing is guaranteed. Your writing/typing also needs to be to a certain standard, if I remember correctly (and nothing has changed).

compiaire wrote: »

Also iM wondering what types of competitions are the best to enter, for example: there are competitions where you have to ring or text, others where you post something off and lastly ones were you just apply online ( and therefore its free unlike the others) so im just wondering what ones out of that lot give the best return for the money/time spent on them?
Thanks

Every single competition is based on luck.

There are some competitions where the aim is to write something so technically by doing what they ask and making it unique, interesting or whatever would put you ahead of others. However, even if you do that you won't be the only one to have written something worthy of winning so it all comes back to luck.

Only you can decide if the possible prize is worth the time. For example, £10 prize for a 1000 word unique story, probably not. £1000 for a 1000 word unique story, quite possibly. If you struggle to write stories and 1000 words would take you a long time, especially with having to think of an idea first then even £1000 may not make it worth it for you when you can enter a few details for a competition to win, say, a gadget bundle or £100 or whatever. For someone else writing a story would be their idea of time well spent and well worth doing, especially with the chance to win a prize.

Similar thing goes for cost. Is it worth it to you to spend, for example, £1 on a text in hopes of getting a few quid or an ipad? Can you afford that?

There is no guarantee you'll win anything at all. Plus competitions are closing and new ones opening all the time for a whole variety of things and with various ways to enter and asking for different amounts of details. You need to look through the competitions yourself and decide if you wish to reply.

All I would say is make sure you trust the site you give your details to and use an email you don't mind getting spam emails too but won't forget to check (in case you do win and they email you).

compiaire

yes, I have an email which I have specifically dedicated to entering competitions and doing survey stuff, I would never sully my business email with such things and I also have a specific phone number dedicated to comping pursuits too.

k18dan

compiaire wrote: »

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.

From personal experience you do have to invest alot of time and effort into comping to get any wins..

Having said that you could win big on your first one entered its all down to the luck of the draw.