Will You Take Up My Challenge?

I got an email from my friend recently telling me about a “Run the Year 2017” challenge.

Basically, you have to run or walk 2017 in 2017.

“You should do it Michelle, you love running…”

It’s true; I do love running and normally go for at least one six mile run at the weekend (and when the nights get lighter I will run in the evenings too). But for me right now, I’m focusing on other things, like swimming and weight training in the gym.

Plus, I’ve already got two half marathons under my belt so I feel I’ve already achieved what I want to with running.

But it got me thinking…

I would love to see how many Creating Wealth members actually put in to practice the ideas and advice we give them.

So, I’ve got my own 2017 challenge for you:

The £2,017 In 2017 Challenge

Yes, your challenge, should you wish to accept it, is to make or save £2,017 in 2017.

Now, you can make this money in any way you like — BUT — it must be either an extra stream of income you’ve set up (a side business or investments), or savings you’ve made over the course of the year.

You can’t count your day job as a source of this £2,017.

Do you think you can do it?

If you are up for the challenge, please get in touch on creatingwealth@agora.co.uk to let me know. And don’t forget to keep me updated with your progress and the ideas you are using to make or save that £2,017.

Now, I know you are already a month down so I’ll give you a leg up with some ideas that you can use straight away to help build that £2,017 pot…

Sell your unwanted stuff

Take a couple of hours this weekend to have a right old rummage in the cupboards for any clothes, books, toys, electronics, DVDs/CDs that you could sell.

The key is to be ruthless. If you can’t see yourself wearing, using or watching it in the next 12 months — get it sold.

You can sell your stuff on a number of websites including Amazon, eBay, Music Magpie (for CD, DVDs, books and electronics), and Preloved.

Or, if you struggle with writing adverts and taking decent photos, shove it all in the car and get down to your local car boot sale.

Earn cashback

Earning cashback on purchases you make — both online and on the high street — can be a great way of saving money.

There are plenty of cashback websites that you can join for free — with QuidCo and Top Cashback being the biggest (I’m a member of both).

And each has offers for 1000s of retailers, including big names that you’d probably shop at regularly.

You could save £100s this year by purchasing the goods you need through a cashback website.

Remember though — not to go buying even more stuff — stuff you wouldn’t normally buy or actually need — just to because you can get cashback, as that defeats the whole purpose.

You could also think about swapping your regular credit card for a cashback or reward card.

You can get up to 3% cashback with some cards currently on the market or rewards in terms of supermarket points with others.

This could save you at least another £100-£200 per year, depending on what card you go for and your personal situation.

Remember though, if you are going to do this, please do full research in to what you get with the card — especially in terms of balance transfer and interest free rates.

Make sure you are getting the best card for you all round — don’t just get seduced by the reward/cashback offer.

Get switching

Last year I told you how I’d saved £1,740 per year (for the next two years) by re-mortgaging my home on to a better rate.

(The total annual saving was £3,480 for the household — split between my sister and myself as we co-own the property)

We had been on a bog-standard variable rate but took the time (just an hour all in) to give my bank a call to see if we could get a better one.

We could. So we did.

And we both saved ourselves a whole load of cash each month — without even getting off the sofa!

Buoyed by my success there, I logged on to my gas and electric supplier and changed our tariff and saved another £8 per month (£16 for the whole household).

By giving your utility bills — mortgage, gas, electricity, water, broadband, mobile and insurance — an overhaul you could potentially save yourself hundreds of pounds this year.

All it takes is a few hours of your time and it’s more than worth it.

Sell some stolen goods

Don’t worry; I’m not suggesting you do anything illegal here.

What I’m suggesting is to take advantage of police auctions to find cheap items that you can then sell on sites like eBay and Amazon for a profit.

Now, you can’t just buy and sell anything as not everything will bring you a profit. But one area that you could possibly do well in is bicycles — the auction sites have loads of them and at low prices.

For example, today I saw a Redemption XR 960 Road bike on a police auction site currently at a bid of £41.50. On eBay a similar bike (same make, different colour) is for sale at £199.00.

If you want to give this a go, then Bumblebee Auctions is a good place to start.

It’s not just police auctions that provide good picking for online selling but lost luggage auctions too.

By buying at these types of auctions cheaply and selling on for a profit elsewhere, you could earn at least a few hundred pound a year profit or even more.

Become someone’s best mate

Have you got a spare room, empty shed or loft space available?
 Then you should join a site like Storemates.

Here you can rent out your storage space to those in your area that need it.

There are no fees to list your space on the site and you could make a good income from it.

A quick search showed a spare room in Brighton listed for £31 per week, a loft in Southampton listed for £23 per week and a garage in London for £70 per week.

Wear a uniform? Get a tax rebate

You may not be aware of this (I certainly wasn’t until I read about it the other day) but if you wear a uniform every day to work, you may be able to get a tax rebate on the cost of cleaning it.

How much money you can get, if any, is all down to what kind of job you do and uniform you wear, but quite a lot of jobs seem to be covered.

You can check the full list of occupations covered here and more info on what else you can claim a tax rebate for (and how to claim it) here.

That’s just a handful of ideas you could use to make or save some money this year. Doing all of these could get you well on your way to your £2,017 target.

Remember, if you do decide to partake in my challenge, please get in touch with me on creatingwealth@agora.co.uk and please send me updates on how you are going and the things you’ve done to start hitting the £2,017 target.

Best wishes,

Michelle Roberts
 Creating Wealth

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