the richest man in atherstone

This series of articles was inspired by a wealth-building strategy created by Stuart Goldsmith. It is called 'Double Your way to a Million Plan' and you can sign up for your free copy on this webpage. For a brief outline of the strategy, take a look at this post.

The first quarter of 2008 has been very lucrative for my Doubling Plan compared to previous periods, however I need to start earning a lot more if I want to achieve my goal of completing step 20 by the end of the year. Here's a breakdown of my income and expenses between January and March 2008:

Income
Advertising on my websites..£423.49
Freelance Work..............£97.00
Surveys.....................£10.00
Interest....................£15.77

Total.......................£546.26

The lion's share of website advertising came from the IceSave Savings Account Review I wrote on this website, the freelance work is for website design to a local organisation, the surveys I did for company called Lightspeed and most of the interest came from my Stoozing project. Technically, I've earned more in website advertising but the dough is sitting in affiliate accounts waiting to reach the withdrawal threshold.

Expenses
Web Hosting & Domain Names..£61.96
Sundries....................£3.59

Total.......................£65.55

The sundries were just some stamps and a pack of envelopes for posting invoices.

Profits
£546.26 - £65.55 = £480.71

As mentioned in January, I am now paying myself a wage for my Doubling exploits equal to one third of profits earned, so that brings my total to:

£480.71 (Profit) - £160.24 (My Wages) = £320.47

I've guesstimated that another third (£160.24) will be deducted as taxes but I won't need to account for this until the end of the financial year so (at least for now) it's mine

This completes Step 16 (Hooray!) and puts me over halfway through Step 17. However, to reach step 20 by the end of the year, I'm going to have to find ways of earning more.

Step 16 Complete
Step 17 In Progress
Cumulative Cash: £506.21