Home Based Enterprises & Interest Beater Challenge.

Marru

Well done NYK!!! :j

I just realised that I have completely fallen off the wagon . I will get back to you when I have recovered from all the bruises and have run and caught the wagon again, never mind managed to climb on it .

Marru

Frugaldom

Thanks Marru It's meant that I have now turned this into a longer term challenge as I'd like to be able to pay my savings bond with tax free money every year. If I can get ahead of the game then that's even better My 10 year bond is £15 per month, so I need a grand total of £1800 and then that's me sorted for that direct debit every month until 2018 :rotfl: Only another £1,518.97 to go, so I think I'll go and check to see if there's been any interest gained yet.

Frugaldom

Tonight I am trying the free bingo promotion on King Jackpot - not having much luck and the site already failed to load the free games between 7 & 8, plus there's no schedule and no advance purchase - 6 hours of checking doesn't seem worth £15 in the event of a win, so I'm just checking now and again to see if I can catch the tickets going through. If the figures are right, there appears to be less than 100 players, so I guess the odds of a win are a little better than Gala, where there are normally close on 5000 players.
Good luck to anyone else trying this and the free daily scratchcards. Every penny counts when it's debtbusting or building savings

DdraigGoch

I'm literally burning my savings at the moment :eek:



:rotfl:I saved hugely by buying my wood in bulk! I managed to buy lots from a good source:T so my savings are happily drifting up the chimney :j:D:D

Frugaldom

Hi to all - another £10 transferred today from a bingo win on free money. I can't decide if the scratchcard money will be tax free because they guarantee 10p for each time you scratch a free card, so it's got no element of 'chance' involved but then again, chance IS involved as you don't know exactly how much you will win, only that you WILL WIN 10p... I think I'll count it as tax free because chances are, I'd forget to collect my free ticket otherwise. Anyone got any advice on this?

Frugaldom

Transferred 2 x £10 from free scratchcards this week. I'm thinking it'll be easy to beat the interest rate next year at the rate the banks are going.

Frugaldom

Bit of a gap since my last update but there hasn't been much by way of tax free income recently. However, I have just transferred £10 from free scratchcard winnings, so I'm on the move again for 2009. (It certainly shouldn't be difficult to beat the Interest rates for next tax year if the current economic climate is anything to go by!)

Current 'interest' earned on my £4,000 annual household budget = £339.57
Equivalent to 8.49%

Frugaldom

Another £50 tax free win on premium bonds today brings my current tax year, tax free, interest beater total to £389.57, which means that, had my £4,000 household living expenses been sat in a savings account, it would have needed to be earning me 9.75% to compete with my total to date. I think I can safely say that this is one challenge that I can't fail. :j

Frugaldom

£10 from free scratchcards will take balance to £399.57 during week 45 of the 2008/9 tax year. Still 7 weeks to go and my 'interest' on £4,000 cost of living allowance is at 9.99% which undoubtedly beats current bank or building society rates.

Frugaldom

Final week of my 2008/9 Interest beater challenge. It was set at 6.5% against a spending budget of £4,000. Had the 4k been left in a fixed rate account untouched, the interest would have been £260 (less tax). My total tax free earnings from winnings, to date, is £470 after having another small win, my third within this tax year, from the Premium Bonds. I also added in Egg card cashback and a few pounds from scratchcard winnings.

I reckon that works out at 11.75% on my original £4,000 unless I'm mistaken If I could just make an extra £50 over the next couple of days then I'd have beaten my own challenge by DOUBLE!