Home Based Enterprises & Interest Beater Challenge.

Frugaldom

Not quite tax free, but I just thought I'd like to quote the following from an article from myfinances.co.uk

"A nationwide survey has revealed a generation of teenpreneurs running successful bedroom businesses with 21,000 earning in excess of £60,000 annually online."

I would love to know exactly how they are managing to do it! The article cites such sources as eBay, Amazon, blogs and affiliate sales but £60,000 is a LOT of money and there's absolutely no way on this earth that teenagers earning this sort of cash at their age are ever going to settle for a 'normal' homelife when the time comes. I wonder how they would fair in the REAL world, with homes to run, families to feed, business overheads and everything else that comes with adulthood. And who, in their right mind, would ever go from 60k per year from a bedroom to become a plumber, electrician, mechanic or builder? We're going to run out of qualified tradesmen at this rate! :eek: I need a free course in homebuilding and maintenance. :rotfl:

UPDATES
Further to my efforts to earn a minimum of £260 taxfree to compensate for the interest my 4k cost of living won't be earning me, I have now calculated that I need to make even more than that on account of taking up stoozing! As many will know, stoozing is about banking cash in high interest accounts whilst obtaining it from interest free credit card balance transfers. This is all well and good, but after paying them a preliminary fee and making the minimum deposits each month for the agreed interest free period, the credit cards then expect you to PAY THEM THEIR MONEY BACK IN FULL! That part is really rubbish as it means having to make a withdrawal from somewhere! Boo Hoo... Anyway, I've decided that I need to earn back the fee on my stoozed cash, which equates to almost 2.75% Fortunately, I'm a small time stoozer limited by the minimum monthly repayments, so my fees have amounted to £160.50 With this in mind, [STRIKE]I'm upping my target to £420.50 for my interest beater challenge[/STRIKE].

Edited in: I have returned my target to £260 as I realised that the whole point of stoozing is making enough to cover ALL associated costs PLUS earn extra interest. I guess I should have added a section into my signature for that and will try to do so now, assuming I have enough space left there Apologies for any confusion.

Frugaldom

Good luck to everyone who takes part in the weekly free bingo [STRIKE]ordeal[/STRIKE] fun! Let's hope there are a few wins this week.

LilacPixie

Morning all. sorry I have been quiet. I have a small confession to make. won £534 at last weeks free bingo!!! But DH car then became fatally wounded so has left us for car heaven. We had to spend the winnings on another car as no transport means no work.

Looking like i'm still on zero but that may change once I total up exactly what new car has cost after thescrp value of old car.

Frugaldom

LilacPixie wrote: »

Morning all. sorry I have been quiet. I have a small confession to make. won £534 at last weeks free bingo!!!

:eek: :j :T WELL DONE! I think that still counts, as it's money you wouldn't, otherwise, have had.

My faith is slowly being renewed in free bingo after not wining a penny in weeks. Thanks for sharing your news

Marru

Hi all,

Hopefully this thread being so quiet means that everybody is working hard on earning the money.

I have changed my rules here (yes, yes - again) as staring at that zero in my signature wasn't fun anymore. So - I have scrapped my 2008 olympic challenge and transferred all the earnings form there to here and TADA immediately have beaten my interest beater challenge as I have now 323.57 (and further 20 waiting to be transferred from Bingo). I will carry on doing bingo, surveys and cash back and when I get a moment start doing matched betting, hopefully next week, as I would like to not only get the interest accrued I would like to get as much of the allowed ISA capital as possible. This would mean earning £10.- day so might go lurking on that thread to get more ideas. I already sell in Amazon and eBid but when I sell my own stuff (not something purchased for selling purposes) I will include that here as well.

Good luck everyone!

Marru

Frugaldom

I haven't been around here much as I haven't had much to tell - no further coffers have been added to my interest free savings pot, as it's difficult to find tax free income, other than gambling winnings. In saying that, I haven't checked the Premium Bonds this month, so I could be a millionaire and just not know it! :rotfl:

As you'll see, I have updated my signature to fit in all the challenges I'm now involved with on MSE. This should make it easier for me to keep all the figures up to date. I am not including any interest that these various savings pots may accrue and I have split them up from my cashback earnings and vouchers, as these are, technically, classed as another source of income by the tax man. We apparently only need to declare anything over £300 but I'm no tax expert.

Anyway, good luck to all who have continued to submit themselves to the weekly FREE BINGO THURSDAYS and it will be great to see a few winners there soon. As it was free bingo that started me off with this, I won't be turning my back on it completely - the banter in the stables is worth the agony of free ticket grabbing. :rotfl: See you there about 11pm tonight!

MARRU - I have my Betfair at the ready and may join you in some matched betting if I really can get my head around it. It still looks like there are 2 different ways of doing this to me and I am not yet sure which is the better or correct method.

Marru

Bad news NYK!!

You have to start playing bingo on Mondays as well (up to week ending 6th of July):

"Thursday free bingo will continue its greatness providing loads of free games for all players AND new to this extremely special period is MONDAY FREE BINGO! Mondays will not just be another chance to play free bingo, on no....there's going to be loads and loads of opportunities for you to win up to £500 in cash or in prizes FOR FREE!!!!!!!"

See you tonight AND on Monday. Check out the timetable on the website.

Marru

System

noooooooooooooooooooooooooooooooooooooooooooooo!!!

not mondays too!

my interest beater pot is creeping up, odd ebay sales/online surveys/£5 bingo win

Frugaldom

FREE BINGO MONDAYS?????????

OK, I'm ready for tonight and will psyche up for Monday....

Bring it on, bingo busters!

Mollymop5

I'm including Quidco in my interest beater challenge sooooo as I received waaaayyy too much from quidco this month ( I'm sure they will realise and demand it back!) I have completed this challenge all ready lol.



Doesn't feel real though so maybe just have discount it.Hmmm not sure.