Hybrid Challenge

CannyCushty

Hi,

This is my hybrid challenge journey.

I think it's time to take action and do something about my crippling debt and make some serious money along the way!

I've a debt problem and hopefully by admitting it, it helps in some small way to finding a solution.

I've been reading lots of challenge/debt/money posts on this forum and thought it's time for me to take action!

Starting this thread will hopefully help motivate myself as it's probably going to be a long long journey . . .

I particularly like the 1% Debt Challenge and the Millionaire Challenge, so I'm going to do a hybrid challenge, a mix of the two.

With the 1% Debt Challenge, the focus is on eliminating 1% total debt with various money making methods such as PTC or completing surveys etc.

I find that most of the methods are quite time intensive and while do earn, don't seem to earn a lot for the time spent on the task.

So, in part, I'll focus on those methods which have the ability to scale up easily, for example, affiliate marketing, which if done right can earn a lot more than say, completing surveys.

However, things like affiliate marketing take time to build up (and indeed might not earn), all the while debt is mounting up.

Therefore, the hybrid part is doing things that earn quickly with an aim of creating something that will grow or become a passive(ish) income stream.

Once all debt is wiped out, I'll have hopefully built up several passive income streams that have grown and I'll update this thread every time I earn 1% of £1Million

I do have several websites and domain names which collectively earn a whopping £40 per month on average for the past few years. It's a start!

First, I think I'll try my hand at:

1. TopCashBack/Quidco - trying to remember to use these sites whenever I buy things

2. Affiliate Marketing - either starting a blog or social media

3. eBay - selling stuff I've got lying around (don't have much to sell I don't think)

4. Others - things like switching banks etc

5. Investing - each time I hit 1%, £10 of that goes to buying bitcoin (so the aim is actually 1% + £10)

My 1% figure is £375 :eek: and I'll update this thread every time I hit 1%.

Let's go!