Make £2024 in 2024

SeekingFlight

SeekingFlight said:

I’d like to join again this year please 

Oops forgot to add a target, can i please aim for £7000 this year as i need to up my game a bit

CMD79

SeekingFlight said:

SeekingFlight said:

I’d like to join again this year please 

Oops forgot to add a target, can i please aim for £7000 this year as i need to up my game a bit

WOAH!!! Go on @SeekingFlight !!   That's a brilliant target! What did you make last year?

SeekingFlight

@CMD79

£3090.36 from ebay, vinted etc 
£1800.14 from my second business but i only ran it from June so i think it's achievable.
£4890.80 total.

Its the same as my target for overpaying my mortgage I'm hoping they will even themselves out.

I only reported the first figure in the 2023 thread as i wasn't sure i was going to include the second business but, what the heck its easier to look at it all together. 

Sibelius

Please may I join in too?

I could really do with the motivation to keep track of my income boosts.

Thank you

emsybaby

What do you all report to HMRC? As in what is taxable? I know you get 1k trading allowance but obviously we're all aiming higher!

CMD79

SeekingFlight said:

@CMD79

£3090.36 from ebay, vinted etc 
£1800.14 from my second business but i only ran it from June so i think it's achievable.
£4890.80 total.

Its the same as my target for overpaying my mortgage I'm hoping they will even themselves out.

I only reported the first figure in the 2023 thread as i wasn't sure i was going to include the second business but, what the heck its easier to look at it all together. 

That's incredible! Well done - good luck with 2024!

I_Love_comps

Hello Everyone. I will be allocating numbers shortly. 

strawb_shortcake

Looking forward to starting this year's challenge. Surveys, premium bond wins and interest made up lots of last years challenge. 

Surveys this year I'm expecting to be less due to my job being so much busier.


We are trying to massively declutter this year so have some car boots planned, luckily we have a good year round car boot locally so no don't have to wait for the better weather.

I've taken up knitting and trying to do some crafting, hoping throughout the year I can build up some stock to sell before Christmas. 

Also have two saving pots, one 20p jar almost full, this is going to be quite a substantial sum that's been saved for many years - can I include this? I have no idea how I'm going to get it into the bank!! Was much easier to pay in when I started this 20p bottle. 
Also have a ceramic money box that may reach capacity this year, same problem as above - estimated to be £1000. Second thoughts as this is what I've saved I don't think it can be counted??

A nice bonus in September is two help to save accounts that I pay into for my Husband and I. My OH has forgotten all about it so looks like I get the lot £1200 bonus ?🤣?

pastmysellby

emsybaby said:

What do you all report to HMRC? As in what is taxable? I know you get 1k trading allowance but obviously we're all aiming higher!

I'm no expert but it would depend where the money came from.  Money from cashback sites isn't, as far as I know, taxable as it is classed as a discount.  Bank account interest will already be communicated by the bank to HMRC and they will tax anything over £1,000 (I think) unless you haven't reached the personal allowance threshold.  I think money from surveys is classed as taxable income but I've no idea if there is a threshold before you pay it.  I imagine selling anything you make comes under the trading allowance you mentioned.  I'm sure there will be people on here who can better answer your question although I'm sure the HMRC website will also have the info you want.

bit_by_bit

Popping it to catchup. Only a bit of interest so far this month. The end of last year was spent sorting my book and DVD hoard. I sold some but not many to the likes of Webibooks etc. It was not much but stuff has gone out of the house and that is great.

So targets this year:

1. Make the campervan cost neutral. About £1000 a year on insurance  and the usual costs plus some small upgrades. Doing this by selling stuff and occasionally using it to move people and things for a donation). Free teas and coffee money will be put in this pot
2. Fill my savings pot to visit japan in 2025. Need about £3000 Selling my house full of clutter and valuables and reinvesting regular savings that are about to mature.
3. Finally I am working on a huge savings pot to go travel the world in about 3 years with DH. Once the other two pots are full then I will work on that.

Last year I did well with wombling, interest earning from the banks, free food and taking advantage of offers, cashback, solar power earnings but also using using the solar in the day for washing etc. Not buying food out of the house. I have severely limited that now. Also we have used the Asda app to raise a ton of free money. In fact it totally paid for Christmas for two households. I have a bluelight card and DH a student card which we will use to get as many discounts as possible. 


Wish me luck