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To be pissed off that its easy to make money if you have money

(44 Posts)
feellikeahugefailure Mon 22-Feb-16 06:56:48

Just that really. I don't want alot, but it would be nice to have enough to just have a decent standard of living - aka not being forced to move every time a landlord wants to sell and borrowing money for the move, to eat a healthy diet and to be able to afford to heat the home throughout the cold months.

There must be a way to make about 20k from home right?

FiveCharactersOrLess Mon 22-Feb-16 07:00:34

I wish there was a straightforward way, I don't make that working out of home.

Katenka Mon 22-Feb-16 07:02:40

Yanbu.

We opened a business from home to make extra income as our main business from failing.

We started it with less than £100. It's now the main business and provides us with a small wage. As new businesses go, it's successful. But to build it into a really big business we need a lot of money. We are looking for an investor at the moment.

We were lucky. We had the idea and hit the market at the right time and now have an established brand so can with stand competition. It's also been lots of hard work. Yes it's a success, but without that chunk of money it will never pay a decent wage for us.

If we had a big chunk of money at the beginning. we could have been huge by now. At the moment we just have to work hard and hope we find someone with that money.

We are lucky that it's done this well. But we also feel held back because we don't have the capital.

Theendispie Mon 22-Feb-16 07:02:55

My friends are Programmers and earn a lot working from home, one is really high up in security systems for major credit card companies. Just has to travel in to London a couple of times per month.

Have you had a run of bad luck or are you having some regrets over choices you made?

Katenka Mon 22-Feb-16 07:03:55

Oh and my wage is nowhere near 20k

feellikeahugefailure Mon 22-Feb-16 07:06:33

Well done Katenka. Is it something in retail? Was it alot of effort to get it going?

FithColumnist Mon 22-Feb-16 07:09:16

Judging from my inbox, there are literally hundreds of ways to make 20k from home, and there are all these lovely people wanting to tell me about it. hmm

OP, YADNBU.

Cheby Mon 22-Feb-16 07:12:05

YANBU. The worst thing for me is private landlords with tenants in receipt of housing benefit; not the tenants of course, they just need somewhere to live. But the fact that someone who is already rich enough to afford a deposit on a BTL property can then sit back and have taxpayers pay off the mortgage for them and be handed a huge asset at the end of 25 years. A reward for being rich in the first place.

And all the while their tenants are subject to the whims of the landlord; no stability, could be thrown out a moments notice meaning kids have to move schools, whole lives are disrupted. And the risk poor standards of living from crappy landlords unwilling to fix or maintain things.

The whole system feels morally wrong.

Katenka Mon 22-Feb-16 07:14:11

Yes, well food retailing.

Dh is a chef (our failing business was a restaurant). It was hard work. It's in a sector I was already in as a hobby so had friends that tried it and recommended it. So used my contacts.

We were lucky enough to have a earlier enquire before we even officially opened. I was a customer of his and mentioned it. We grew the business base just in Twitter.

But it was hard work. Especially since we didn't have the capital for fancy labels etc. It's got easier over two years as we have got the money to have labels made etc.

This week we will do about 120 hours between me and dh. As we have several large orders. But we have had to turn some business away as we can't fit it in.

Because of this we only buy things off small retailers. We don't use big businesses if at all possible. Trying to help others out. We have special deals for very small retailers to try and help them out too.

seoulsurvivor Mon 22-Feb-16 07:14:55

YANBU

These days I have a lot more disposable income and it's so much easier for me to make money because of that. More able to travel for interviews, buy stuff to sell on etc.

It's easier to save money too, because you have the income to buy in bulk, take advantage of offers etc. It's shit.

Katenka Mon 22-Feb-16 07:15:02

I also wish I had some tips. But as I say it was hard work and a big chunk of luck.

woodcabernet Mon 22-Feb-16 07:17:00

Yanbu op.

Wishing you some good luck.

Iamnotloobrushphobic Mon 22-Feb-16 07:24:51

But the fact that someone who is already rich enough to afford a deposit on a BTL property can then sit back and have taxpayers pay off the mortgage for them and be handed a huge asset at the end of 25 years.

See I don't understand this because people are often complaining that landlords won't rent to HB tenants making it difficult for people in benefits to find somewhere to live but then people complain about landlords getting Rent from HB. The two views don't add up.

Iamnotloobrushphobic Mon 22-Feb-16 07:25:50

But the OP is not being unreasonable.

Artandco Mon 22-Feb-16 07:29:13

I half agree. Yes it's easier for some things that need upfront costs, but for skills and experience that don't it's up to you. Dh and I both run successful companies, barely had a penny between us when we started 8 years ago

MakewayforNoddy Mon 22-Feb-16 07:32:45

What do you do Artandco?

absolutelynotfabulous Mon 22-Feb-16 07:36:57

Er..you don't get an asset at the end of 25 years on a btl mortgage as it's an interest-only loan.

Just saying..

Hoppinggreen Mon 22-Feb-16 07:38:44

Depending on your skilset it can be possible to set up a business with virtually start up costs, it probably cost us a few hundred £ and we make good money. I have mentored other people though and when starting a business some people spend on offices, equipment and even company vehicles that are totally unnecessary.
I can see how difficult it would be with retailing or similar though

ProfGrammaticus Mon 22-Feb-16 07:39:24

A BTL mortgage can be either interest only or capital repayment, surely?

Pollyputhtekettleon Mon 22-Feb-16 07:48:21

YANBU OP. Even on a small scale things like bonus reward points or £150 to switch your bank account are contingent on having a certain amount of cash flow. I've often thought that I get a lot of free stuff even though I can well afford to pay for things when others who would be so grateful for the things don't get them because they poorer.

On a bigger scale yes, money makes money. The more money you have to start the more you can make.

icanteven Mon 22-Feb-16 07:49:38

What are your skills?

We had a financial crisis last year and I went on to People Per Hour and created a nice looking profile for myself and started bidding for work.

It was somewhat easier there a year ago, at least for web designers (and I barely scrape the surface) but if you have great writing skills, social media know how or solid PA experience, you could have your own freelancing business in a couple of months, starting small and part time, and building up your contracts.

There are freelance and startup boards here on Mumsnet - you should ask there.

I'm earning a tolerable wage now and have two part time freelancers working for me and am hiring for a third.

I find it very liberating and I set my own hours.

Pollyputhtekettleon Mon 22-Feb-16 07:50:59

Absolutelynotfab, that only happens if it's interest only. Capital repayment means yes you will have the asset at the end. I would think most people are capital repayment on btl....

Pollyputhtekettleon Mon 22-Feb-16 07:55:27

Side note. You know btl is an actual job for some people. Their primary job. I don't see anything wrong with that. My FIL for example worked his ass off as a landlord and raised 4 kids on his income as one. They didn't have much but managed. Like many people.

feellikeahugefailure Mon 22-Feb-16 08:07:49

Successful people please leave your tips not just a SB!

I know a programmer, he makes decent money but I'm not great at maths and that kind of stuff so not for me. Had a look on that site and looks to be very difficult to make money, this guy wants a new website created for £35 - www.peopleperhour.com/job/get-a-website-made-1060736 - and he's already got 10+ people bidding for it. Maybe if you live in a country with very low outgoings that might work, but for that kind of money I'd be better off at Tesco!

LightDrizzle Mon 22-Feb-16 08:25:49

Most people earning 20k or more from home, previously went out to work, and the skills and contacts they made enabled them to take the risk of going freelance/ starting their own business.

Most people earning 20k or more have to go out to work to do it, drop children off at childcare at ungodly hours, whatever.

Capital helps massively but most people still save their own capital. My OH started with nothing but 5 O-levels at 16 and has built several businesses. It took many years though and for the first decade he was working and learning in someone else's business. He still can't work from home. I'm not entrepreneurial or a risk taker so that route isn't for me. I'm middle class with an Oxbridge degree (he is working class, sink school, slept three to a bed with two of his brothers until his family got a council house) and I'll never earn what he does in my nice, relatively secure job, but even I managed to save a bit while working a few years ago and retrain for a year to take another career path to the one I was on.

What is it you want to do OP? We are still pretty lucky in this country in terms of support and opportunities, I know a lot of people who had crappy jobs after leaving school at 16 then stayed at home with young children, who have trained and gone on to have good careers after children have got a bit older for example, it is hard work and takes longer than the school-leaver route, but none have looked back.

I know a couple of people whose parents helped with deposits for a flat and one person whose parents helped her start a business, but everyone else we know has done what ever they do without capital from someone else. I only know a couple of people who are able to work from home though (graphic designer and events organiser). Both previously worked full time for companies in that field in office based jobs. The graphic designer now also works in an office as it pays much better than what he was earning freelance.

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