My very ambitious way to get £60k in 48 months…

Contro1

mooneysaver said:

Are we able to get an update this week please?

I’ll do it tomorrow, I’ve taken a rest this week but whoever suggested survey sites as a little bit of extra, thanks lol have been having some fun with them 

Contro1

Okay, so here is a little update. 

Some good stuff has happened this week; but I came into a bit of inheritance due to my Nan passing around Christmas time, I got £4,000 from the will. I’ve added it straight into my S&S isa.

like I said the previous reply. I’ve rested this week because I worked myself into a death trap. I needed it.

for the bank holiday weekend all I did was sleep, and sleep is all I did. I did not move one bit. I re-arrange my work from starting tomorrow.

I’m wondering. My bank sends DDs and standing orders over the bank holiday weekends, my friend Sarah said the money would not come out until Tuesday, (the one just gone?) any one experience this?

anyways my friend Sarah paid me on Monday and that £40 got added as well to the pot.

so here are the financial side now as I’ve boosted quite a bit by this. 

Atom: £42,000 (43 days till it matures - £695)
Forex: £701.60 - still have the trades on and have won or lost nothing this week.
S&S: £4,996.10 (bit annoyed that it’s not directly on £5k but it is what it is.)
crypto:£453.84 - don’t know what’s happened with this; but seriously this has dropped a ton this week. 

Someone said about surveys. As I’ve been resting and keeping my mind slightly active. I have made £33.07 from survey sites which I shoved straight into the S&S isa. 

So that brings me to the following.

£48,846.54 is my total current holdings. Nice boost.

onwards and upwards towards that goal of £60k.

That’s all for now folks..

Contro1

Well,

not much has happened this week other than I have just finished college and have finally finished. 

I haven’t really put much in my pots as I’ve been focusing on other stuff and haven’t been working.

(it’s my birthday tomorrow, the 17th!) 

was a wonderful present to be told that I’m all 100% finished with college now.

i am thinking about my next step now; I’m leaning towards keeping that 5k in that isa and keeping it there. 

I’m thinking I’m going to start filling up an instant access account now. Just make another emergency fund if I may require it.

All from me! 

Ryan_Holden

Wouldn't it be better to lock the 5k away into something fixed which would likely beat an ISA at the moment. Depends on how much interest you've earned so far I guess.

Contro1

Ryan_Holden said:

Wouldn't it be better to lock the 5k away into something fixed which would likely beat an ISA at the moment. Depends on how much interest you've earned so far I guess.

Not so sure, it’s a stock and shares isa. So it’s going with the market at the moment. I like seeing the numbers as that’s the type of person I am. 

In other news. I haven’t done so much into a savings pot but I am definitely very close to my savings goal now, my first goal was £50k I’m very close plus I’m actually seeing some growth now on that stock and shares isa.

I’ve also added a new instant access saver with atom at 3.15%, I’m hoping for a rate increase or otherwise I’ll be leaving at maturity, the rates haven’t gone up yet or been passed through - I get there is no obligation to pass the rate on but they was very quick last time.

The only thing positive I’ve done this week is that I helped my friend John and his savings out, he has £6500 in a nationwide account at 1.25%, got him to switch (as he wanted instant access) to an account with nationwide with 2.5% over 12 months so at least that’s done more for him. So I’m very happy about that really. 

The point I’m looking for with all these riskier account is for every account I’m looking to profit on the interest more than £31.50 PER £1,000 as that’s what I’d get if I was in a safe and sound fixed rate account!  

If the accounts don’t give me what I need in the next 6 months I’ll take out whatever’s in there and shove them in fixed accounts I think it’s fair and reasonable. What do you think? 

I haven’t done any surveys this week, I decided to use some money towards an Xbox because I needed somewhere to lose myself; which is what I’ve done.

so the figures look like this now. 

Atom: £42,000 - £695 interest matures on the 23rd June if this rate don’t increase I won’t be maturing with them. They’re good but I’m looking to max my return on them. It’s currently fixed at 3.32% from December last year, there current offering is 4.16% for six months. 
It’s not bad but I still want to see at least another rate increase in there offering before I sign for another 6 or 9 months. Need to speak to someone as will need to be paying tax now.

Atom instant saver - £250.10 - got this just to start filling up slightly so I can have access to another emergency funds, plus I have some training to do as well need about £2,376 in total for it so may use it on that, not so sure yet. 

So: £250.10/2,376 - £2,125.90 left 

Forex: £699.95 - won a trade lost a trade should start seeing some earnings from this as we’ve switched up strategy slightly.  Although have lost £50.05 for now but not to worry, I was at £706.60 until yesterday morning and then got stopped out on a trade :-( it’s how it goes! 

I am still looking to put £4,000 in the account but I also want to see some return on money before I do 

£750 was put in initially: £699.95/£4000 

Crypto: £493.30 - at least it’s going up! 

Not filling currently, found alternative methods. 

S&S isa: £5,022.62 - with a growth of £17.69 yesterday. I’ve finished filing this now as I’ve reached my goal which was £4,000. If I do get some spare money here and there and want to treat it I’ll give it some otherwise will just let it grow and take out the profit if any.

£5000/£4000 

so here’s what it looks like in terms of cash in my hand.

£49,160.97 is my balance, my first mini target of £50,000 is very close and I’m reach with £840.03 to go, which I’ll be doing very quickly I hope. 

Not a massive increase but an increase of £314.43 over last week is still an increase! 

This is excluding cash I have in my business plus personal account also. 

That’s all folks… till next time. 

Contro1

Okay, so I’m 30 days of my fixed account maturing now, I’m trying to work out the best options for me.

this one is only £685, this is well under the limit of the £1,000 in interest tax I need to pay. But it only leaves me with £305 to play with until next April. 

Whatever happens; the next time I fix I will need to pay tax on it. I’m looking now as I want to make a good choice when I come to re-fixing the nest egg.

At the moment it looks like I’ll either fix for 9
months or fix for 12 months and still pay tax so it doesn’t really matter either way lol

Two contenders that I’m looking at currently are

- vanquish bank 
- north oak bank 

there seem to be offering the best; if rates change ill make the choice; I’d obviously rather stay with atom but £45.50 as a minimum per £1,000 is pretty good. If atom can’t up the rates I’m not staying! Atoms been absolutely wonderful to be with. There support and services are good but the lack of rates are doing me head in.

on the 10th of June give or take ill see which bank moves the rates but at the moment these two are likely to be the ones. 

It’s looking like north oak bank would be the best at this moment… this is because they actually have an app, vanquish doesn’t look like they have an app.

anyone have any experiences with these banks by any chance or if any suggestions on banks let me know! 

I’ve also been around estate agents as well, seeing if I can find some shared ownerships that I can buy with the cash I have.. it’s not impossible but I’m keeping options open as well just incase anything was to happen… but I also don’t want to rush into it and be a bit rubbish if I was to buy now… it needs to be the house 

Cheers! 

Contro1

Atom has changed the interest rates on there account now! Pretty happy with that!!

so I will most likely stay with them now, it’s taken 3 weeks for them to update the rates to reflect. The instant one hasn’t been updated.

so with that in mind and Atom more than what I expect it’s a race to see what north oak bank offer the next time the rate increases next month.

so I’ve got my new plan formulated now.

My target is £8,000 in the next year without killing myself this time, obviously I should be able to draw more in as I go along as I’m giving myself a lot longer this time.

the break down works like this 

WANT: £8,000
So on £42,000 I should earn £2,106.

Takes me to £5,894.
Monthly required: £491/month in savings account to archive this. 

Considering I’ve been working to about £680 monthly and almost getting there. This is going to be much more archivable. 

Considering we’ve had some good news and the a markets  got stronger the markets have not favoured me well this week. 

My current setup looks like this. 

Atom: £42,000 + £695 interest on 23rd June.

S&S £4,969 so I’ve lost money on this, HOWEVER! I got my dad to sign up so should get a £50 referral bonus at one point in the next three months. Markets should hopefully start doing a bit better as these are long term trades anyways. 

Forex; lost 2 trades this week £689.90

Crypto: god knows what’s going on here. It’s been pretty flat £480.

Instant Atom Savings £350.10. 

So totalling this up would be the following this week.

£49,184.00 in total so with the loss with the markets this week I’ve only really gained £24-ish. 

Long haul so it is what it is! Better luck next week.

I’m not finished yet though, I’ve got a little bit more work to do to finish off this week, so hopefully should be able to put a bit more into at least the instant savings account which I am filling up to finish my training off anyways.


I’m currently running a special offer at the moment with work; and it seems to be going pretty well, I’m still trying to get my foot in the door with some more people so running this is helping massively.

The main contractor in my area well; everybody wants him as his been around so long, I’m slowly chipping away though and this offer in my local area seems to be working at the moment, gained 4 new customers in the area in the last week instead of working with contractors… 😊😊😊

i am still fresh with my business, so anything will work for me at the moment, the main reason why I’m absolutely flat out all the time is because I sub contract with plumbers, carpenters etc etc, and only various domestic customers I deal with on a weekly basis.

Contro1

Morning I’ll do the figures this week.

have had a good week at work and managed to increase my savings this week, not that drastic but never the less another increase. Plus some of my investments are back to a good level. 

- Atom Fixed, matures on 23rd June: £42,695
- Forex: £700.29
- crypto: £463.43
- S&S Isa: £5,048.36
- Atom Instant: £450.44

which gives me a total of £49,357.52. 

Week on week growth has been £176.55.

have not been able to add that much to the savings this week as I’ve had some unexpected bills pop through the door, onwards for the next week.

pretty cool, stay strong people!

Contro1

I think that eventually I’ll withdraw from crypto completely, I’m not 100% sure what my next move is with it, but I’m glad that I have not put any money into it.

I’ll do a quick update from the weekend, some interesting figures.

Current savings June 6th 2023

£42,695: Fixed Atom savings matures 23rd June.

£700.29: Forex - 4 trades active 2 in profit.. looks like we’re going to start moving on this as have adjusted johns strategy.

I’m waiting for some more wins and to learn a little more about Forex but my ultimate goal will be to put that £4000, so £700.29/£4000

£433.60: crypto - it’s slowly moving downwards  however, I’m not actually in a Bitcoin trade at the moment.

£490.44: Atom instant savings (for the rest of my training) £490.44/£2370 

£5,085.61: S&S - I’m really happy with this. The loss has swung to a healthy profit, I’m still adding £40 per month into this, but I’m not adding any money to this currently. There is no need. I made my goal. - £4000/£5000.

Sarah’s paid me today, happy with that payment at still coming through and she has a long way to go. Very long way to go at £40/month, let’s hope that her situation changes a little so she can pay a slight bit more. 

£160/£2500.

So my total is: 

£49,404.94

I’ve got a huge week this week and I’ve got another slight money making adventure using some craft skills I have.

LunaLater

Contro1 said:

francoghezzi said:

Very nice. You forgot to go outside, and watch a cloud, breathe and enjoy what this life is truly about ...

That’ll pay off later on when I don’t have to worry about life like I do now. 

I’m not sure how gambling will achieve that.