Millionaire Challenge

Karmacat · 4 November 2014 at 4:42PM

That looks a *really* interesting website, Kaya, thanks! I haven't been posting on here about what I've been doing because I've been using my diary on the mfw board - which I post on 2 or 3 times a day maybe 5 days a week - the book has been finished and proofread, brilliantly, so its up to me to get down to that and do the revisions, just been doing a bit of RL mse work the last few days, but I'm up for it now.

I'll have a look at that website properly later on, it looks gooooooood.

ElleWoods · 4 November 2014 at 5:33PM

Hope everyone is well. Just a quick question - has anyone on here gone from employed to self-employed? I work PT but looking to go SE, hopefully in the New Year, and I'm wondering how I'd sort out my tax credits. Obviously my earnings would be up and down rather than a set amount per month, so I'm struggling to see how they'd work them out. Would I need to let them have a monthly update, or just at the end of the financial year? I'm worried about it and it's stressing me out because I'm a single parent, so still need enough money coming in to live on. Just not sure how tax credits work when you're SE.

Karmacat · 5 November 2014 at 11:34AM

Kitty, I'm self employed, but I've no idea about the tax credits - I'd honestly advise ringing them (use saynoto0870 to find a number thats free to you) ... and if they seem like they know what they're talking about, write a letter confirming. Or look on their website - which takes forever, and you can really feel like you're going round in circles. Sorry I can't help you myself, I've been SE for over 25 years, and the tax system has changed beyond all recognition in that time!

lessonlearned · 5 November 2014 at 1:23PM

Good morning all millionaires in the making.

Beautiful sunny morning here - makes you feel good to be alive.

Well now I've been busy. All internal construction work now complete so now it's a massive clean up and paint rollers at the ready. Phew what a maraton but the end is in sight. Time to start thinking about the next one.

This has been a massive learning curve. The two most important
lessons I shall take from this are.

1. I will never live on site again.:eek: I would rather "squander" money on rent.......

2. I am too old and decrepit to be very hands on. From now on my role will be advisory, supervisory, purchasing, budget control and design consultant. I won't even project manage the next one. My plumber will co-0rdinate the trades for me.

Thanks to this thread I now have a lovely lady who is going to be a "spare pair of hands" to help me finish here. She starts tomorrow. She was a lurker and, after the post when I said I really needed some help, she pm' d me and very generously offers to work with me.

Hello C.....:hello: looking forward to seeing you tomorrow, I'll have the coffee ready:rotfl:

Oops low battery. Will post again later.

lessonlearned · 5 November 2014 at 3:50PM

Hi everyone, back again, battery all charged up. Just having a break from the mega clean up, I'm shattered.....

Just wanted to say Hi and welcome to Morocha. glad you have found a niche you can develop. I shall look forward to the progress reports.:D

Re the studying and up-skilling. I'm all for it. Not only does it improve your financial prospects but I think it also helps us to become more interesting people. Education opens doors. As my dad says "knowledge is power" so just about everything we ever learn has value, one way or another.

I left school at 15 with no formal academic qualifications. Not only was my family too poor to let me have a tertiary education, I truly hated school with a passion and couldn't wait to leave and get out into the big wide world. Tbh I played truant from the age of 13 because I was just so miserable.

Luckily I was a voracious reader and had an enquiring mind so I more or less just taught myself. Imeventually got my act together and took myself off to university at the grand old age of 40. I've also done loads of courses, most of them just for fun and nothing to do with work. I like to keep the grey matter active. I often listen to language CDs in the car or whilst I'm pottering about.

Nowadays of course we have "tinterweb" - what a fantastic educational tool that is. A world of knowledge at our fingertips and tutorials on just about every subject under the sun.

We can learn anything, anytime, anywhere. Bloomin' marvellous.

Tink - where are you. Are you ok. I've tried to pm you but couldn't get through. Hope all is well.

Karmacat · 5 November 2014 at 6:27PM

Echoing your well wishes to tink, LL, and I'm glad to see posts from you too, I've been wondering how you were. And how fantastic that this thread has helped you connect with a learner, C! Great for you both, I'm sure. I found my proofreader the same way, incidentally, by nattering on mse

lessonlearned · 5 November 2014 at 8:41PM

Meant to say thanks to Kaya for the link to the Forbes site. Lots of interesting stuff on there.

J_Howard · 6 November 2014 at 7:09AM

Good to learn that people set goals for themselves and then try to achieve them.
Earning a million is not difficult for some people and for some it is very hard. I have seen people rise from the dust and rise upto the sky in no time at all.

I myself is employed but i do many other jobs as well. I earn from different sources. And i am also getting my higher education.

Though higher education is expensive but it provides you with bigger exposure and better opportunities and earnings.

I am inspired by you NYC and i am considering setting a goal for myself too.

morocha · 7 November 2014 at 11:04AM

AS far as i know WTC is declared once a year ( tax return) unless you know your income will go down (ie you know you have not much work lets's say in January and february so you tell them and your benefit goes up). Also try to always say a higher number so they don't overpaid you.Im in a FB single parents and many of them are SE.

LL is so nice of you to be so encouraging. I just turned 30 and I have always liked learning, my main problem being.. i never go deep into anything! So i can not make a career out of any of them. I have done courses in beauty, IT and Languages... and i signed up to an Udemy course " Graphic design", hopefully once i finished i can work from home doing this aswell.

YoungBusinessman · 7 November 2014 at 1:45PM

Just read a fantastic piece of advice in an above post

"its not what you earn that makes financial difference, its how much you hold onto"

that is so true. I saved more on lesser salaries than i have this year where income has peaked!!! Knuckling down eliminating debt so i can make my income work for me. Creating passive income is just a dream in the making for me.

Millionaire Challenge

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