Wednesday, 27 September 2017

Making money by addition or subtraction

Ideas to achieve it:

1. Addition: October will be the month when I send all the cryptocurrency profit into my account (30.10.2017)

2. Subtraction: Sell the car and reduce monthly expenses by £120. Call insurance to cancel the contract (Done). Call to cancel road tax after i sell it (29.09.2017)

I will see what else will pop through my mind. Need 8 more ideas until the end of October.

Thursday, 21 September 2017

Wild at heart

A new adventure is beginning now. I will move in a rented house, in a strategic switch meant to rent a property and finishing the mortgage completely in one year, and then saving for buying the second. Real estate, here i come. I will also sell one of the cars, and walk to work, saving more than 80 pounds because of this. Freeview instead of Virgin TV channels, another £40 saved. My simulation is full of hope, and i want to explore the domain of cryptocurrency mining and try to get a decent profit from there also. I was not writing as much lately, i had few ideas, but i did not explored them fully. So much work, so little time. I will also need to change my recording formats, as i need to add new areas of both expenses and saving methods. But, this is a challenge i gladly take, and i cannot wait for this year to end to see my final moves results.

Monday, 18 September 2017

Quote of the day

"If stock market experts were so expert, they would be buying stock, not selling advice."
(Norman Augustine)

Sunday, 17 September 2017

Time management - exercise 1

I tried a time management technique - writing every hour what I am doing for a week. The final results are here, and it is fascinating.

Most time consuming activity is sleeping with 31.6%, followed by working time with 30% of my time. Add to this the time for transport - 8%, and I have 69.6% gone, more than 2/3 of my life. Then I got time spent with my other half - 18%, time spent online on the phone or laptop, big part of this also work - 10.41%. The rest it is used for cleaning the house (6.95%), social activity (3.82%), eating (1.74%) yoga (1.74%) and personal hygiene (1.04%). This is my life now.

On my personal notes, financial independence will free up to 30% of my time, huge benefit, which I hope to use it for family, social meetings and relaxation. Need just to get there.

Maybe I will do this exercise again in a couple of months. See you soon!

Finance and life - Jay Leno

When you find out that Jay Leno is also a genius in finance...

Read here.

Friday, 15 September 2017

Cryptocurrency - Faucets - No.2

As i said, this is my second post in the interesting and full of danger world of digital currencies.
The faucets will let you have small amounts of bitcoin and other alt-coins, at regular intervals. I tested for a period, and recorded the performance of the best rated faucets and miners. But about miners i will talk maybe with other occasion, so let's keep it simple. This is a long term strategy, which eventually can provide a good 100% passive income, completely free, at the expense of 5 minutes daily.

1. First you gonna need a very good add-block. Once this is set up, you can go to the next step.
2. Make one account on Eobot. This is a miner/main deposit account, where you can use the coins gained from other faucets to mine something for the next 5 years. This website also has a faucet to access once per day. Ideally you switch on Cloud mining 5 years - GHS 4.0,  (last position on the mining menu) before using the faucet, avoiding the 35% fee when you buy it with some of the coins. If you are in UK, switch from dollar to pound.
3. Make one account on Coinpot. This is a micro-wallet where you can store bitcoin, litecoin and dogecoin. For the moment we gonna focus on these three alt-coins, as they are the most lucrative.
4. You need to make one account on each of these faucets. I will also put in the brackets the faucet refresh interval. Moon Litecoin (5 minutes) Moon Bitcoin (5 minutes) Moon Dogecoin (5 minutes)
Bitfun faucet in offers (3 minutes) Bonus Bitcoin (15 minutes) All these faucets get automatically collected in Coinpot wallet.
5. There are other 2 faucets that are not collected in Coinpot, so you need to transfer them manually in the Eobot account, using the Eobot bitcoin and dogecoin addresses. Free Bitcoin (1 hour) Free Dogecoin (1 hour).
6. Strategy: click on all faucets at last once per day, as you get 1% bonus every day up to 100% more after 100 days. Every month transfer the coins from Free Bitcoin and Free Dogecoin faucets to your Eobot account. On Coinpot, at the end of the month convert all the dogecoins and litecoins to bitcoins. Transfer the bitcoins to your Eobot account. Once you have everything on Eobot, buy GHS 4.0. You can use it to mine whatever you fancy, bitcoin, ethereum and litecoin will be easier to sell. Keep using all the coins you gain to buy additional cloud mining (GHS 4.0 for 5 years).
7. Exit strategy: after you get paid a decent amount per hour, you need to make one account on some good wallet to link it with your bank account. I use Coinbase for this. You can sell you coins here on Coinbase and send the money straight in your account. This last account need to be properly protected by a decent password. As an additional layer of security, you can make a separate account in bank to use only for mining (and match betting, as i do, to record the profit i make each month easily).

I provide you with one example of my exploits in the mining/faucets area, which is not too impressive, but still, free money gained with minimal effort are always good, right? You can ask me any related question here, on this post, and i will try to answer if i know.

Disclaimer: Some of the links are referral links. 

Monday, 11 September 2017

Cryptocurrency - Faucets

I am testing a little something called Faucets, a paid-by-click feature where you gain digital currency. It is not a lot of profit, unless you make lots of referrals. However, if you are a child between 8 and 14, this could be an alternative to the traditional paper route. I will come back to talk more about it after i finish my experiments. It works for cryptocurrency like bitcoin, litecoin and dogecoin (last being an elaborate nerdy joke).

Thursday, 7 September 2017

August 2017 - Monthly report

August 2017 - Monthly report

My Overview

Total portfolio: £27869(-189)
Debt: £397(-370)
External funds: ZERO
Car: £500
Net Worth: £27972(+181)

Investments UK: £9770(+68)
Investments overseas : £4160( +912)
Cash: £841 7184 4480(-2704)
Pension: £7673(+107)

Total Income: £1885(-8101)
Passive income: £426(22.60%)
Savings rate: 33%

Side hustle 2 value: £0.57
Side hustle 3 value: £393 (Profit July-328)
Side hustle 4 value: £25 (Funds:482)

Continuing to pay all debts, as they decrease i registered a jump in the net worth, small as it is, but it is a plus never the less. I am looking to sell my car, which in return will decrease my monthly expenses with  70-80 pounds on average.

Saving rate is decent, i am also trying on new things, like bitcoin mining, coin collecting, rare books collecting, this being some long-term projects. I have also started a Help-to-buy ISA, in the eventuality of buying my first house for rent in few years from now.

The income this month was alright, with more than 20% semi-passive. I need to dedicate some time to side hustle no.2, as i did not take care of it from March. The other two are fine, side hustle no.4 being 100% passive, and no.3 needing 15 minutes daily.

Probably in the next months i will be faced with massive change, moving house and re-doing the whole finance stuff in another manner. But i will know it when i will be there. Until then, keep saving, until you are ready to be financial independent. Never stop.

“The trouble with being poor is that it takes up all your time.”
– Willem de Kooning