Life changing sum of money

[crabfoot]

So you mentioned getting an MBA. Frankly, most MBA programs are teaching you how to make money for other people - so you get the low risk option, you get a big salary and don't have to outlay capital.

If you can see a way to make money, you have to work hard to maximise your opportunity before someone else tries to get into your niche. When you have done that, and become an established business, you pay some bright spark kid with an MBA to get more blood out of the stone while you holiday in the Caribbean.

An MBA is for moving up the corporate ladder - it doesn't equip you as an entrepreneur. The best advice is to think like the man in the corner shop. He doesn't read the Guardian, doesn't like corn flakes or sardines, Spam is against his religion, and he wouldn't eat that Kung Po chicken with fried rice in the chiller because he doesn't eat foreign muck - but he sells these things because people buy them, and it is a living.

 

[Sussexite]

It all depends on how you want to change your life......

If you want to change your life by getting making the time to get healthier - then it's not much.

If you want to change your life by anchoring a huge yacht off your own private beach....then good luck..it'll take a while.:sad:

 

[domainking]

with the goverment new make me happy policy.

there is one thing in life that we can alll do.
and thats hand over all our money to goverment.

just think of the pleasure you will have handing over all your cash to goverment.
it will make someone happy.

might not be you.

 

[disruptive]

So you mentioned getting an MBA. Frankly, most MBA programs are teaching you how to make money for other people - so you get the low risk option, you get a big salary and don't have to outlay capital.

If you can see a way to make money, you have to work hard to maximise your opportunity before someone else tries to get into your niche. When you have done that, and become an established business, you pay some bright spark kid with an MBA to get more blood out of the stone while you holiday in the Caribbean.

An MBA is for moving up the corporate ladder - it doesn't equip you as an entrepreneur. The best advice is to think like the man in the corner shop. He doesn't read the Guardian, doesn't like corn flakes or sardines, Spam is against his religion, and he wouldn't eat that Kung Po chicken with fried rice in the chiller because he doesn't eat foreign muck - but he sells these things because people buy them, and it is a living.

My good friend did an MBA from a very good well known European school. He sued the school in the end for not marking and grading his work. He put a lot of time, effort and cash in. was their #1 student, but they let him down. Probably better off selling MBA's than using them to make money. Do an MBA for the contacts rather than content - you can read that in a book.

 

[disruptive]

Having ranted about some MBA programmes - some are good with established networks and great speaker and tutors. But you're going to need about £200k. One guy I worked with did his @ Harvard after he had made £$$M.

 

[cm1975]

I'd be over the moon with about £250k. It would allow me to pay off the mortgage and trade up to a bigger house, and leave enough cash in the bank for a few investments and an MX5. Being mortgage/debt free would then free up a lot of cash a month to do other things.

 

[Edwin]

Being mortgage/debt free would then free up a lot of cash a month to do other things.

Yes, the knock-on effect of getting rid of debt can be extremely liberating.

 

[stender]

Depends what you call life changing. Paying off my mortgage would give me some extra cash each month but it's not life changing.
Having a monthly income to equal my current salary would be life changing as I could stay at home or do whatever I want and enjoy. if the missus let me.

I was hoping all this website/domain stuff would do that but no.
I have money saved which I could invest but don't know what will return the monthly money i'd need.

 

[Ashton]

Every bit of money is life changing in some small way. Its no secret that I am not earning a lot from domains or minisites, and I earn (or can earn) a lot more just doing design work. However, this has the potential for a lot more money and it provides me a lot of information I will be using in the future. I hold more value to what I am learning than to the money (for now)

As it is, I will be going to Uni for degree at some stage, not because I want to join the cubicle world, more because it's firstly a safety net and secondly proof of my own intelligence (and therefore, confidence to trust in myself and my investments)

 

[cm1975]

Paying off my mortgage would give me some extra cash each month but it's not life changing.

I beg to differ! If you get rid of the biggest monthly expenditure, then how can it not change your life? You suddenly have fewer worries and thousands of pounds available each year to do with as you please. Okay it's not a lottery win and won't let you chuck your job in, but it will give you a better quality of living.

If someone wants to hand me a large wad of cash, then I'll happily prove it!!

 

[stender]

Everyone is different and with different wants and mortgage sizes.
paying off my mortgage will not change my life.

 

[AssetDomains]

15-20k would make a big difference to mine at the moment would allow me to put a deposit down on a flat and focus on uni 100% in my final year

 

[disruptive]

I was again thinking that if one could cover their basic costs. The house/rent/mortgage is the largest, everything else is a bonus. So many people work just for a roof over their head and hence getting out of that cycle and getting disposable income means paying their costs off.

B

 

[FagEnd]

Sounds good Doug - but we're not all into windsurfing

I'd be pleased to see the mortgage gone.

I'd be pleased to afford to have a mortgage

 

[Nigel]

I'd be pleased to afford to have a mortgage

c'mon things can't be that bad Fag End - at least where you're living now you can do the windsurfing bit

 

[FagEnd]

c'mon things can't be that bad Fag End - at least where you're living now you can do the windsurfing bit

Not too keen on the windsurfing caper, my hobbies include hops, barley, and natural grown plants... luckily the hops and barley is extremely cheap in a can, and the naturally grown plants are completely legal to grow here

Who needs a mortgage if you can rent a place with a big garden?

 

[Nigel]

Not too keen on the windsurfing caper, my hobbies include hops, barley, and natural grown plants... luckily the hops and barley is extremely cheap in a can, and the naturally grown plants are completely legal to grow here

Who needs a mortgage if you can rent a place with a big garden?

I see what you mean about the windsurfing Fag Eng - Must be hard balancing on a board with all those other hobbies you're pursuing

 

[stender]

<RANT>It won't be long before mr Tesco gets more per month than my mortgage lender does. Can't believe how much I spend every month on groceries.
And those thieving gypsies the utilities companies!
I like the way the don't drop prices all summer then as soon as the temperature drops, hey presto 7% rise to boost their billions of profits. They fail to mention that they make millions trading energy and make money when it goes up and down.
They should re-nationalise them and run at cost imho. we're on to a hiding when theres shareholders involved. I might have to buy some British Gas shares to hedge my bills.
</RANT>

 

[Nigel]

<RANT>It won't be long before mr Tesco gets more per month than my mortgage lender does. Can't believe how much I spend every month on groceries.
And those thieving gypsies the utilities companies!
I like the way the don't drop prices all summer then as soon as the temperature drops, hey presto 7% rise to boost their billions of profits. They fail to mention that they make millions trading energy and make money when it goes up and down.
They should re-nationalise them and run at cost imho. we're on to a hiding when theres shareholders involved. I might have to buy some British Gas shares to hedge my bills.
</RANT>

You're right about the grocery bill. It definitely is more than the mortgage Had our weekly tesco shop delivered this morning - about £200! I did stock up on a few cheap items and a few bottles of wine but it's often near this level. And that's with just 2 children. What's it like with a big family?

 

[stender]

Yep i've got 2 kids and mines about the same but without any goodies, and that's buying the offers and looking at the breakdown prices for best value.