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.

Since becoming self-employed a few weeks ago, I've been thinking an awful lot about whether I should keep my business income and Doubling income separate. This is the way I've done it over the past year, the main reason being that the rules for Doubling state that Doubling money should be kept separate from personal cash.

This poses a number of problems. Firstly, I will have two sets of accounts to keep and working out the split for National Insurance and taxes will be quite difficult. Secondly, each time I come up with a new money-making idea, I will have to decide whether it contributes to my personal or Doubling income. I would have to design some sort of criteria to help me make the decision - and what sort of criteria would I use?

Over the weeks, I've come up with a number of strategies for keeping the funds separate, however none of them 'felt right' and they were all unnecessarily over-complicated. I feel I could continue to ponder upon this until the cows come home but, even then I don't think I would come up with a satisfactory solution.

So, I made a decision.

I will combine my Doubling quest with my other business ventures and split all the income between myself and the Doubling Pot. Although this is technically breaking one of the rules of Doubling, I believe it is the only satisfactory solution to the dilemma. My business will become my 'Doubling Account' and one of the expenses from said account will be my salary. I think at some point everyone that attempts to 'Double to a Million' will have to pay wages or labour costs, and that is the way I think about drawing a salary from it.

As well as gaining personally from my Doubling exploits, my Doubling Project will gain from my personal business income (including income from this website). A joining of forces, as it were.

The way I intend to split the profits is by totting up the income earned every quarter and splitting it three ways. The first third will be held back to pay the end of year tax bill. The second third will be retained as the Doubling Fund and the third third(?) will be transferred to my personal bank account.

My salary will be further divided as highlighted in my personal financial plan for 2008.

This also has the advantage of amalgamating the Doubling updates I make here into a single quarterly post.

So, with this plan in hand and a little math, I find that I need to earn a little over £15000 during 2008 to achieve two of the goals I set myself at the beginning of the year (goals 4 and 5).

I'd better get cracking...

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.

I just received a monthly interest payment of £7.60 into my Doubling Pot from the Stoozing experiment I did a few months ago.

Step 16 In Progress
Cumulative Cash: £185.74

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.

Despite my laziness over the last month or so, I have manged to make a couple of additions to my 'Doubling Stake'.

Firstly, I've earned £1.20 from completing free offers on RPoints. RPoints is a cashback website that gives you money for completing free offers - for a large list of similar websites, take a look at W3WAD's Cashback Website Comparison Matrix.

And secondly, over the Xmas period, I found a total of 20p on the ground whilst out walking with the kids.

In addition, I've also made nearly $50 via Clickbank from when I tested out the Bum Marketing Method. Unfortunately, I've set the payout threshold to $100 to reduce currency conversion fees, so I won't be able to add it to the Doubling Pot for a while longer.

Step 16 In Progress
Cumulative Cash: £178.14

Happy New Year everyone.

A few people have asked me to give a more detailed explanation of the 'Double Your Way To A Million' project I am working through. I thought I'd give a brief overview of the strategy and if you'd like to find out more, I recommend that you download the Free Doubling Report from 'Megastep International' in exchange for your name and email address (you can opt out again immediately and I've experienced no spam problems from them).

The basic principle behind 'Doubling Your Way To A Million' or 'Doubling' as us 'Doublers' call it is to generate a million pounds/dollars/euros starting from just a single penny/cent. The first penny must be found on the ground and once you have it, that is Step 1 of the 28-Step project complete. You now have a penny in your 'Doubling Pot' also known as your 'Stake' by many Doublers and from now on money can be earned.

To complete step 2, you must get 2p in your Doubling Pot. Again this could be found money, or you could offer to help someone with something for the token sum of a penny or perhaps even ask a friend to exchange your shiny new penny (if indeed it is shiny and new) for one of their grubby twopence pieces. How you do it doesn't really matter - the important thing is setting the goal for yourself, thinking about it and achieving it.

Having completed step 2, you now need to bump up your Doubling Pot to 4p to complete Step 3. There are an infinite number of ways you can do this and with a little thought, you'll soon be on Step 4. You now need your Doubling Pot to hit 8p and then for Step 5, you need to double again to 16p.

Each Step requires you to double your money until you complete Step 28, at which point you're Doubling Pot consists of over a million pounds and you have completed your project and are free to spend the money how you want (or perhaps even double it again). Each step also requires different strategies - for example, in the early steps you could get a part time job but as you progress, it will become harder and harder as you will need to earn more and more. There are a number of rules laid out in the Free Double Your Way To A Million Report that iron out the details of the strategy. I can't reproduce them here as it would be both illegal and unethical.

I've been Doubling for a little over a year now and am currently on Step 16 (over halfway through - woo-hoo), having earned £176.74 so far. I'm sure most other people could get to this amount a lot quicker than I have! I've found it to be a positive and thoroughly enjoyable experience. It has made me spot opportunities where I wouldn't have otherwise looked and helped me to discover a number of different methods of making money that I previously didn't know about. Plus it's made me more confident in goal-setting and attainment as well as earning me a few quid (although that's staying in my Doubling Pot for a while longer). I'd recommend to anyone that they should give it a go - maybe a future Doubling Millionaire is reading this right now

Additional Resources:
Doubling Blogroll - A list of other Doubler's blogs
The Doubler's Den - A place for Doubler's to hang out, discuss ideas, share experiences and give each other moral support.