Week 10

Week 10 for the shoestring investor sees good income but unusual profitInto the double figures, which means I’m nearly 1/5 of the way through this groundbreaking year. When I talk to many people about my undertaking and my progress so far, they often express surprise at how much I have made. I have been surprised by this reaction to a large extent as in my mind my current total is toward the lower end of the spectrum of where I would want to be at this stage. It has made me realise a couple of things; one is that perhaps I am slightly over-optimistic. I do not say this in a negative sense – reaching high is healthy and I do not feel I’m being unrealistic or flippant in my target. The second is that it I perhaps underestimating what an achievement it is to have turned £10 into around £1,500 in just over 2 months. Whilst compared to many salaries it might not be spectacular, but making such a relatively large sum from such a small investment is actually fairly remarkable in many ways.

So where is this money coming from? Well, this week has seen a few new sources of income. Some of the survey sites I signed up to early on have passed payment thresholds and as such allowed me to access the cash I had built up in them. I haven’t been regularly doing them but it is something I occasionally do in a spare moment, often whilst I eat lunch (provided I don’t have a Match of the Day recorded to catch up on…). Not much on their own, but when they’re all added up the income thus far from all the surveys I’ve done actually contributes a fairly decent £51 to the cause.

I also saw my second big lottery win with SearchLotto, another £1 added to the stash. Whilst I might knock it, that does actually put it above my projected likely income for the year from it already, so though it is paltry sums, it’s outperforming expectation. No doubt it’s only a matter of time before I win the jackpot and can retire happily…

Apart from the usuals such as Mystery Shopping, Cashback and selling a few things on eBay and Play bringing in decent money, I also saw the fruits of my new current account begin to blossom this week. the £50 transfer bonus has now been added to my account, and it really is money for nothing.

The goods I have been selling on eBay this week actually came from my mystery shopping exploits. Many of the jobs require making a purchase which is then reimbursed. By selling these goods, I can not only make money from the original mystery shop, but am effectively getting a free item of stock to sell as well. It is not large quantities or expensive goods, but at a 100% profit margin, it is all welcome nonetheless.

Money from computer services

The fairly large expense will hopefully begin to pay dividends

The one downside to this week has been the large expenditure. When you look below and see the figures – don’t be too alarmed. £600 of that is accounted for in my investment in the Tracker Fund – which has provided a decent return thus far. It is essentially just been a transferral from cash to assets. However, that still leaves just over £183 of expenses. £30 of that is for football pitch hire, and there are a few small expenses such as postage and ebay fees. The remainder though has been for leaflets and other print materials to advertise the computer services, an expense I completely overlooked when setting my targets for this week. It will hopefully be worth it in the long run, I have got some good quality flyers and a good website set up for it which I hope will generate income sooner rather than later.

In Summary:

A week that has come in well below my target of £225, but largely because I forgot to include the large expense of flyers and other printed materials in my estimations. Incidentally, without those costs I came in eerily close to my target – just a few pounds off. Given that the large expense here is a one off and is one that is directly related to garnering income in the future, this has proved another steady week, despite a fairly low net profit. There were always going to be weeks where one off expenses would hit the profits, and this just happens to be one of them. The encouraging thing is that the income is around the level I had been aiming for, and as such I am on target to continue growing steadily towards the end goal.

Revenues in Week 10:

Less expenses of £783.22, plus assets of £608.69:

Week 10 Total: £73.95

Running Total: £1552.03

For a full breakdown, see the balance sheet.
The Week Ahead: 

There are no projected large expenses for week 11, as such I should be able to kick on and add a good chunk to the stash. I will be concentrating on getting leaflets for the computer services out there, which will take time without contributing much in the way of immediate earnings. However, there are still many ongoing projects that can bring money in this week. With that in mind, I’m going to aim for £230 in week 11.

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