£30k in 2019

[Jazzybeats]

I’ve set myself the bold goal of overpaying my mortgage by 30k next year and looking for ideas for generating a bit of cash to do that.

So far I am:

• eBaying everything and anything
• starting an Amazon Merch business
• cutting any die t debits
• switching bank accts for the sign on bonus
• banking any “savings” I make day to day (eg buying a cheaper brand or on deal and bank the difference v full price)

Any other ideas? Ideally I am looking for passive income streams so something like matched betting is too involved.

Childcare - do you have anyone you could set up a babysitting circle with? Where you exchange tokens with other parents instead of paying for a babysitter? There was something like this running in my village when I was growing up.

I'd like to go out to the cinema or dinner but by the time you add on £30 for babysitting it's outrageous but you could possibly use your tokens to spend an hour doing something that would bring in income.

I’d like to join as we have lots of expensive projects to get done this year so need to save and earn lots of extra......
I have done matched betting before (made enough for our holiday) but haven’t been back to it as now working full time. Could do with a fresher......
I have a mountain of clothes, mostly kids, and toys to shift.
Interested too in the book app - how does it work please?
Amazon merch sounds interesting- is there somewhere I can find info so I can look into it please?
And TES Templates? What are they and can anyone do?
Best ways to switch energy provider? And I honk I’ll switch bank account too.

Already use cashback sites a fair bit. And shop quite frugally (need to train hubby to do so too! Or confiscate his bank card!)

@Jazzybeats to be honest it depends on your salary. Why do you want to? I could do this, but my mortgage rate is so low and my money is better saved/invested in other places.

Simple things would be cutting out cafes etc, Buying basics instead of branded food, use soap instead of fancy cosmetics and shower gels. This would sap some joy out of life for me though!

The book app is Zwiffit. I tried it and my books were worth pennies, so I have kept them for now.

Merch by Amazon - I came across it on one of those “side hustle” blogs. I haven’t seen a good guide to it yet but essentially the idea is - you design a T shirt. Amazon make it sell it deliver it and give you a royalty. Apparently some people are making 000’s. They give you tons of info on their website.

TES is teaching support materials basically. It’s a site where teachers can download classroom materials. Stories, excel templates, powerpoints. Anyone can do it I think.

@littleclouding I’m worried for the future with Brexit, and I fear I am held hostage by my mortgage.

So, my motivation is simply to make myself more secure. If I don’t have a mortgage, my house can’t be taken away from me no matter how bad things get.

May be pessimistic but the freedom being mortgage free would bring would be amazing.

@Jazzybeats all very sensible points. Will it be paid off if you pay the 30k next year? I suppose if you are close then it will be easier to achieve and give you that closure. For those with 400k mortgages they wouldn't see the benefit so tangibly!

We paid over £30k off our mortgage the year that dh’s employer made him redundant illegally and we got a very scary lawyer and his ex-employer paid us lots of money to make her go away.

Ok probably not plannable and very scary and unpleasant at the time but the moral of the story is.....

If life gives you lemons......

We paid the mortgage off a few years ago now and it is nice to be mortgage free but I do sometimes think that maybe it would be better to have a £20k mortgage and have gone on 5 unbelievably fabulous holidays pre-kids.

Great thread op , I too want to overpay as much as possible in 2019.

Following with interest x

You don’t mention a new job OP. Surely earning more doing what you do best is the easiest option?

Do a house swap as your holiday

Sell your cars and manage without for a year

Rent out a room to a lodger and rent your driveway out too

Make friends with some very old people 😉

@okwithme correct - I don’t mention my job as I am reasonably senior in my field and I actually want to step down a role. But can’t do that until my responsibilities shrink. Stepping up a role would mean more travel, longer hours, even less time at home. Perhaps in the future.

@mumiftwoyoungkids that’s awful but as you say, when life gives you lemons... pre kids we had the luxury of doing the things we wanted to do - we lived in a much cheaper place, no commitments - so I defiantly feel ready and as though this is the time to start going hard.

@littleclouding - no, won’t be paid off... my mortgage is around £350k.... scary scary scary. The things I set up this year should hopefully allow me to keep overpaying in the next years.

Monday check in to keep me honest.

In the last few days I have:

• sold more stuff on eBay and Facebook marketplace
• designed 3 T shirts for Amazon for review
• tried the shift down challenge. This weeks shopping for 4 of us cost £32... (although no household or toiletries in that)

This week:

• MOAR T Shirts!!!!!!
• looking into Udemy (design a course). If I can think of a good topic could be good passive income.
• 1 more round of eBaying. May be the last one for a while.

So far since Jan 1st I have banked £480 or so extra. However mostly through ebay’ing which isn’t sustainable. Monthly target to reach £40k by Dec is £2.5k. Udemy will give another passive income stream but a lot of setup. DP is pretty amused at all this, claims they’ve been doing it “for ages” and I’ve never noticed 😂

@jazzybeats as women in most industries earn less than their male colleagues, negotiate a pay rise.

A friend recently found out her peer earned £40k a year more than her - almost another half again. He produced LESS income for their firm. Do some intelligence work. Speak to competitors, find a new market rate. I’ll put money on you’re at least 10% behind salary wise.

Could you Air BnB a spare room or even your whole house when you're not there?

Very quick update. Now have 4 T shirts live on Amazon for sale! I’ve created an Instagram account to advertise them which is awesome and I’m actually really excited about starting my own little brand no matter how small. Here’s hoping to some sales 😎

jazzy can you tell me more about the amazon tshirts? where do I start? do you create them online or do I need some kind of photoshop kinda program?

thanks!

How about people per hour?

Good luck. I’m aimkng for £10k this year. Should be doable.

@jazzybeats I'm very interested in the merch by Amazon, but when I looked to apply it said I'd need a bank account and business info. Did you set all that up separately or are you just using your regular bank account and address etc?

barleyreed Can you revert back to billing & ditch the water meter before the 2 years?

I just used my existing bank account. If I make a lot then I’ll set up a separate one. And business name, just made one up - I’m not imagining this is going to be huge so haven’t done anything sensible on IP....