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.

July to September has been a bad quarter for my Doubling project. I've been very busy with my day-job and my growing family seem to be taking up a lot more time just lately. In addition, one of my main sources of income (IceSave) has dried up - they've reached their quota for the year but hope to continue the campaign in 2009.

I've managed to roll out a couple of new ideas (FABDEX and Financial-Info) and have been working on promoting a new ClickBank product but haven't really had time to promote them properly - or monetize them. Here's a breakdown of the quarter's results:

Income
Advertising on my websites£1071
Interest£25.94

Total£1096.94

The IceSave promotion bought in the most cash with the remainder coming from Matched and Money4Banners.

There are also a couple of income sources that have been earned but did not make this quarter's results in time. I have a Clickbank cheque sitting in front of me for around £100 and there is about $120USD (£60) sitting in my Google Adsense account awaiting payment.

Expenses
Web Hosting & Domain Names£55.74
NICS (Class 2)£29.90

Total£85.64

For those not accustomed to Class 2 NICS, it's a fixed National Insurance Payment to the taxman that us British self-employed people have to make each week.

Profits
£1096.94 - £85.64 = £1011.30

I decided in January, to pay myself a wage for my Doubling exploits equal to one third of profits earned. This month, I have chosen not to take any payment from my project for a couple of reasons. Firstly, I have not put in as much work into the project as I expect of myself and feel I do not deserve a share of the profits. Secondly, heading into the final quarter I am concerned that I may not achieve my 2008 goal of completing up to Step 20 of my Doubling project, so I want to throw everything that I can into it.

I've guesstimated that another third 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

Before this quarter, I had earned £1648.31 for my Doubling Project, so adding my latest earnings to this, I now have £2659.61. This means I've completed Steps 19 of the 28-step process and am now part-way through Step 20.

Now I just have to figure out how to earn an extra £2340.39 before year-end

Step 19 Complete
Step 20 In Progress
Cumulative Cash: £2659.61

A little late getting the report in This is because nothing much has changed in terms of my goals for 2008 since April's tri-annual review.

Below you can see the 6 goals I set myself for the year and their current status:

1. ON TARGET Save 10% of my salary - This goal is very much on target. I've been saving a little more than 10% of my salary each month and have budgeted for at least 10% to be saved each month for the rest of the year.
2. COMPLETE Review utility bills - I reviewed our current expenditures and ascertained that I could probably reduce our mortgage, gas and electricity bills. Further investigation into the mortgage market revealed that there really wasn't a better deal out there in the current climate. I switched my gas and electric provider to get the cheapest deal, however they increased their tariff not long after (my own fault for not researching it adequately). Although the results weren't exactly what I had in mind, this goal can be ticked off as complete.
3. COMPLETE Set up and run my own company - At the beginning of February, I registered as self-employed.
4. COMPLETE Reduce our mortgage capital to below £60'000 - With the help of an inheritance plus regular overpayments, our mortgage now stands at around £56,500 - a far cry from £65'000 worth of capital we borrowed in April 2007!
5. INCOMPLETE Complete steps 16 to 20 of my doubling plan - I'm currently on Step 19 and will hopefully be on Step 20 (or thereabouts) by the end of the month. One of my biggest earners has dried up, so I am slightly concerned that I may under-shoot the target without this source of income, however I've been working on a few things that I hope will become profitable before Christmas.
6. ON TARGET Donate 1% of my salary to charity - I have budgeted for this goal and so should have no trouble making my annual donation to charity.

So, just one goal left to complete. The final few months of the year will be increasing my sources and amount of income.

I created my own online contact management system a year or two ago that was designed specifically for my own needs. Recently I've been working on sprucing it up so that it can be used by others and it is now at an advanced stage.

The next stage is to thoroughly test it and so I need a number of volunteers to use the system and report any bugs or problems they can find. Therefore, you are cordially invited to set up a FREE lifetime account and try out the system.

By registering and using the system (named FABDEX), you discover just how easy contact management can be and will gain access to many fantastic functions that are useful to internet marketers and anyone looking to create and maintain a mailing list. This includes:

- Powerful contact search functions
- Saved searches
- Easy creation of user signup/subscription forms for your website
- Quick and simple contact management
- Categorisation of contacts using tags
- Import & export utilities
- Access to your contacts from any Internet-connected computer

As a BETA tester, you will get priority response to any technical issues you have as well as having the opportunity to shape how FABDEX evolves in the future.

I have limited the number of BETA Testers to 10 to ensure that there are no capacity issues, so if you're interested be sure to get in quick.

Create your FREE account by clicking on the link below:

FABDEX

and I look forward to working with you on this exciting project.