the £1,000 project

Charleyalmostking
Charleyalmostking Posts: 148 Forumite
edited 14 April 2018 at 12:27AM in Debt-free wannabe challenges
This challenge is based on the book & challenge originally created by Canna Campbell entitled "the $1,000 project"
The book is £9.49 from Amazon for the kindle copy.

The challenge is to create little Parcels of £1,000 $1,000 through passive incomes.
Canna Campbell had the goal of creating 40 of these parcels,
meaning she was aiming to gain £40,000 in that year!

The incomes can be anything such as;
  • Each time you save money
  • Each time you make money
  • Each time you find money

Guidelines outlined in the book
  1. Be mindful with your money
  2. Work within your real life - there's no need to change your spending habits, for you to change your budget drastically, no need to freeze on clothes spending in order to take part in this challenge. This challenge is to be done along side your normal every day lives
  3. Consistency is king/queen! - Set yourself some rules, for an example; all money from overtime will directly go into my challenge fund only or if you went to buy a chocolate bar for 60p but didn't , transfer that to it .
  4. Make your own rules - they need to be fair & balanced and to be followed easily. For an example MY rule is ; This challenge is to be done beyond existing wages and savings, meaning I need to start at £0 whereas someone else may do the challenge in existing savings (though i do as we all "start" this challenge at £0 and don't count what has already been saved)



You can use this challenge to fund whatever you wish may it be a holiday, a wedding, paying down a debt, buying a new handbag etc...

Throughout this thread, I will be including prompts for you to do (which have been included in the book) in order to help you focus on this challenge and help focus on your future goals and to bring "money mindfulness" into your lives. You do not have to do these prompts or share your 'answers/reasons etc' with us as I know this can be a private thing.

Tips for the challenge
  • It's easier to start with an empty bank account as you can see from day 1 the progress you are making .
  • Use a notebook / folder to scribble down those prompts & answers; Add stuff or scribble stuff out... make it as pretty or as plain as you like but look back frequently to help you focus on the challenge
  • Have a way of tracking your progress. Airtable on the desktop/PC is a really good resource as it it can automatically update numbers for you and also you can categorize each section. Or you can use a simple savings app on your phone/computer. Bucket and Thriv are good android apps for this (not sure if they are available on the apple app store)

To Join
Simply post "join" and if you have a target of how many Parcels you want to try and save/earn/find -
remember 1 parcel = £1,000
Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
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Comments

    1. eBay
    2. Gumtree/Craig’s List
    3. Over time at work for after your normal shifts/weekends/meetings
    4. Market Research
    5. Babysitting
    6. House sitting and looking after pets
    7. Dog walking
    8. Tutoring
    9. Garage sales
    10. Pay rises
    11. Tax refunds
    12. Bonuses/Commissions
    13. Small business
    14. Asking for cash instead of birthday presents
    15. Finding money on the floor
    16. Money from "Save the change" bank accounts
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
    1. Charleyalmostking - £0 / £2,000 | 0/2 parcels
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
  • Charleyalmostking
    Charleyalmostking Posts: 148 Forumite
    edited 15 April 2018 at 4:11PM
    step 1 done - designated an empty bank account as the keeper of the parcels!

    My rules;
    1. For every NSD beginning now I will transfer £2.00 into that fund
    2. anything extra earned will go into the fund
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
  • jwil
    jwil Posts: 18,998 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Good luck!
    "If you can dream it, you can do it". Walt Disney
  • A girl is buying a t-shirt off of me tomorrow for £5.00
    I need to send off a tshirt for £8.00 on Monday

    I'm a JP representative and reading up on how to get my business up and running and hopefully be able to get new customers.

    I'd like to use a site like teemill / teespring to open a tshirt store. It's one of my "dream" side business.
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
  • Charleyalmostking
    Charleyalmostking Posts: 148 Forumite
    edited 15 April 2018 at 4:14PM
    The girl hasn't picked up the t-shirt yet for today .
    :heartsmilI listed 3 things for sell on Ebay.
    :heartsmilI should have money going into my save the change account

    I'm working on making connections with people on my instagram to help try and encourage people to check my side business out.

    _____________

    :heartsmil £2.00 in my fund for Saturday's No Spend Day
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
  • £2.00 was added to my fund yesterday for a NSD,
    £2.46 will be added to my change jar

    another girl is interested in buying a different top too
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
  • £1.99 from save the change added

    Total so far = £5.99
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
  • Tropically
    Tropically Posts: 427 Forumite
    First Anniversary Name Dropper First Post
    Can I participate? I need 2 packages. I will start today!
    Mortgage started at £318,000 in June 2016. Original MF - 2041 :eek:
    2nd Property Mortgage at £275,000. Mortgage free: 2049 :eek:
    Total OPs: £29529
  • Tropically, Of course you can!
    It's great to have you on board, this challenge is for anyone.

    Awesome!
    Wedding Fund: £1107.23 / £2,500 Xmas'18: £100.00 / £300.00 Emergency Fund: £100.00 / £1,000H2B ISA: £30.50
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