My Ultimate Challenge


I'm new to the forums after being a lurker for a number of years! Have decided I need to take control of my financial life, and my life in general. My life in brief is, married, 2 children, 1 dog, 1 (huge to me) mortgage, recurring depressive episodes and a relatively new business. I don't seem to do things by halves!

Have always liked the idea of being debt free, but getting there has always been difficult, so now in my mid thirties, I feel like its time to get a hold of reality and make life financially comfortable.

Last year, I started this "Make a Million Pounds from 1p in 28 steps", just to see how far I could get, and partly because I needed a distraction from reality at the time. If you've not heard of it, you take a penny, and double it - that step 1. You then take your 2p, and double that... step 2. And in 28 steps you will have a cool million. There were rules and do's and don'ts to the thing I read, but I'm doing my own variation of it, and am at step 15, £80 to £160 (currently sitting at £90).

While I might be slightly dubious about getting to step 28, I would LOVE if this even contributed to cutting our mortgage by the time I'm 40. So, I thought I'd start a diary on here to sort of keep me on track and have somewhere to write to. I think my husband thinks I'm crazy a lot of the time, but he also loves the idea of cutting the term of the mortgage.

If anyone is interested, I'll post my first 14 in the thread below later. Feel free to share any words of encouragement, or feel free to read my ramblings as a lurker, just like I used to do on here!

THS :)


  • redlaces
    redlaces Forumite Posts: 130
    Ninth Anniversary 100 Posts Debt-free and Proud! Name Dropper

    I'm really intrigued by this, I would love it if you shared how you got to your current position :)

    Debt Free - October 2022
  • TheHappySnapper
    TheHappySnapper Forumite Posts: 5 Forumite
    Hi Redlaces! I've posted below the steps and how I've got there, bit of rooting around in bags and pockets to begin with, and that's taken since last March, but I'm hoping I can now focus on it a bit more as my circumstances have changed a bit. I think once I get to £160 I will try and do matched betting for steps 16-18, but you're not supposed to think too far ahead, you're supposed to concentrate on the step you are on, otherwise it becomes overwhelming and you'd give up!

    Step 1 Find a penny lying on the ground, or be given it without asking for it. Found one in the carpark at my old place of work, so started!
    Step 2 1p-2p Asked my hubby to swap me the 1p for a 2p
    Step 3 2p-4p Explained these 28 steps, and hubby donated another few pence!
    Step 4 4p-8p
    Step 5 8p-16p
    Step 6 16p-32p
    Step 7 32p-64p found some change in a coat pocket, which too me to 49p
    Step 8 64p-£1.28 more change from hubby taking me to 72p
    Step 9 £1.28-£2.56
    Step 10 £2.56-£5.12 (Call it £5 to make it easier.) £3 that was in a purse took me to £3.72
    Step 11 £5-£10 Found a £10 note while out walking the dog
    Step 12 £10-£20 Bought a second hand pine unit for £10, and managed to sell it for £20 without painting it or anything!
    Step 13 £20-£40 Sold a heated towel rail from decorating the bathroom for £20 so now at £40
    Step 14 £40-£80 Made £10 from a collection of books I sold, plus £10 from a box of odd playmobile I sold. Sold a laptop bag for £30, so over my £80 required for step 14.
    Step 15 £80-£160 Sold a part for a camera for £20 so now at £110.
    Step 16 £160-£320
    Step 17 £320-£640
    Step 18 £640-£1,280
    Step 19 £1,280-£2,560
    Step 20 £2,560-£5,120 (Call it £5,000 to make it easier.)
    Step 21 £5,000-£10,000
    Step 22 £10,000-£20,000
    Step 23 £20,000-£40,000
    Step 24 £40,000-£80,000
    Step 25 £80.000-£160,000
    Step 26 £160,000-£320,000
    Step 27 £320,000-£640,000
    Step 28 £640,000-£1,280,000
  • redlaces
    redlaces Forumite Posts: 130
    Ninth Anniversary 100 Posts Debt-free and Proud! Name Dropper
    Thank you! It sounds like you've had a profitable few months!

    I'd love to hear how you get on with the rest of the journey and practising flexing those entrepreneurial muscles!

    All the best, redlaces
    Debt Free - October 2022
  • TheHappySnapper
    TheHappySnapper Forumite Posts: 5 Forumite
    Have sold a dress on ebay for £13, so that will go towards this too.

    That will take me to £123 of £160, so only need another £37. Have a few bits I have my eye on to ebay, so may go and do that today, and see how they go.

    Excited to be almost complete another step!
  • SavingAFuture
    SavingAFuture Forumite Posts: 141 Forumite
    This is an amazing challenge! I am subscribing so I can follow your journey and may well go out and look for my first penny too...

    It does sound incredibly daunting when you think ahead but I imagine your confidence grows with each step you complete?

    Wishing you all the luck :)
  • angelicious
    angelicious Forumite Posts: 224
    Ninth Anniversary 100 Posts Combo Breaker
    Hey happy

    Your challenge sounds amazing!! I'd like to joint in if I may??
    Debt free by Xmas ‘23 - £153.31/3779.55Make £20 a day Feb £124.86/560Save £30,000 ‘23!! - £0/30,000
  • patman99
    patman99 Forumite Posts: 8,532
    Part of the Furniture 1,000 Posts Combo Breaker Photogenic
    Interesting challenge. Have subscribed just to see how you get on.

    I have thi 1p that the change sorter keeps rejecting so that will be my starting point.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • A_Random_Man
    A_Random_Man Forumite Posts: 1,144
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    This looks like a great little challenge, good luck on you're journey

    EF - £1025/£2000 (51.25%)
    Debt Remaining: £0.00 - Debt Free
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 340K Banking & Borrowing
  • 249.1K Reduce Debt & Boost Income
  • 448.3K Spending & Discounts
  • 231.9K Work, Benefits & Business
  • 602.9K Mortgages, Homes & Bills
  • 171.6K Life & Family
  • 245.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards