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RobHawk

Finances and Future plans

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Am I the only one who finds it bizarre that we're talking about investment and gambling in the same thread? 

 

The cheapest long term way to grow your money is low fee index funds balanced across a few asset classes. This is well established, and will ride the ups and downs of the market over your lifetime. You will not beat the market in the long run by picking stocks and shares. 

 

You also wont win at gambling in the long run. Mugs game. 

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On 2/28/2017 at 19:30, Monk said:

Am I the only one who finds it bizarre that we're talking about investment and gambling in the same thread? 

 

The cheapest long term way to grow your money is low fee index funds balanced across a few asset classes. This is well established, and will ride the ups and downs of the market over your lifetime. You will not beat the market in the long run by picking stocks and shares. 

 

You also wont win at gambling in the long run. Mugs game. 

Matched betting isn't really the same as gambling. When you gamble the bookie always has the edge - Matched betting turns that on its head so you only do offers where you have the edge. Over time, as long as you stick to the rules, this can only mean profit (Just the same as it means profit for the bookie if you continue to gamble when they have edge).

 

I actually hate bookies - they are scum and i do enjoy taking money off them. 

 

Having said that, matched betting takes discipline and it can be very easy to lose your discipline and lose your profit - with that in mind, it definately isn't for everyone. For me, its going to pay me mortgage off in less than 5 years so it can't be that bad!

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If you have a fair job, these are what has worked for me.
 
1. Always pay off debt (including mortgage) before saving money, as it's always more costly to borrow.
 
2. Along with the above, keep a small slush fund for emergencies.
 
3. Over pay your mortgage every month to bring that debt down considerably. 
 
4. Put as much in your pension as possible as this is tax free. 
 
5. If you have money, but property and rent it out. This is not as easy as it looks, you need to learn.
 
6. When you look at property, learn off others, don't take advice from estate agents as they want to sell you something.
 
7. Financial advisors sell products, do not fall into the trap of thinking these are people you need. It is not a positive having a financial advisor, I have met loads and they are just salesmen who use a posh title to earn commission off you. Avoid wherever possible. 
 
 

Have you read Dave Ramsey's books? I know he is Christian (not everyone's taste) but he says exactly what your saying.

I.e. no need to waste £20 on a book :)
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1 hour ago, Vocey said:

Quite interested in the whole matched betting thing, although already taken advantage of most bookies sign up offers. Any tips on how to get started?

 

I don't know how many accounts you have with bookies, but there's a shitload of them I've barely heard of & they'll have sign up offers you can take advantage of.  I'm still at the 'sign up offer' stage, but once that's completed I'll be moving onto offers for existing customers, e.g. if you've already got a William Hill account, done their start up offer, they will still have further offers to encourage you to keep betting.

 

There's also casino & bingo offers.

 

To be honest, I'm not the best person to give advice as I'm still a novice at it & still trying to get my head around it all.  I've subscribed to OddsMonkey for £15 a month, but there are other websites (e.g. Profit Accumulator).  They will guide you through different types of bet & calculate the odds, stakes & potential profits for you.  They'll also keep you informed of the latest offers - whether you are signing up or already have an account with a particular bookie. If you stick to the guides & the rules, you'll get that subscription fee back many times over.  They also have a forum for you discuss anything you want & I've found them very friendly & helpful.

 

I suppose it's better if you haven't already signed up to a variety of bookies, but that doesn't mean that you can't make some decent money for yourself.  I guess the only thing I can say about potential profits - the more time you put in, the more you will make.

 

It does seem a bit weird betting on stuff like football & not really giving a toss what the final score is or who won.  In fact, it's usually better to lose your bet with the bookie. 

 

When gambling under normal circumstances, you'll put £10 on a horse at 10/1.  If it wins, you've just made yourself £100.  It's much more likely that it doesn't win & you're £10 down.  With matched betting you might bet on the same race but only make £5.  But that's because you've bet on all the possible outcomes & it doesn't matter if the horse comes first or last.  Do that 10 times a day & you're £50 up.  You're not actually gambling, just taking advantage of the offers & the odds.

 

When I read up about it before I started, I kept reading about people starting up with a £50 float, but I'm not sure how they managed to do it with such a small amount.  I guess it can be done, but it would've been a very slow process.  I've banged about £400 into it & I still feel I could easily put more in.  That money isn't at risk & is perfectly safe, but the more money you have to operate with the easier it is to make more money.

 

You could possibly give it a try for a few months, see what's involved & whether it's for you or not.  I'm not 100% sure if it's for me, but if I decide to jack it all in tomorrow - I'm £200 better off than when I started 2 weeks ago.

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Didn't want to start a new thread as that'd just be spamming so though I'd add this here. Just made £30 off one of those survey/sign up to offers sites. I was always sceptical of these but gave it a go as my brother showed me. It's not as simple as it's made out though, took ages for anything to verify and your e-mail address gets one hell of a spamming so if your going to do it I'd recommend setting up a new email or using one you don't mind getting spammed at. But to be fair I'm actually really surprised as I actually have the physical cash in my bank and not that much effort was needed. Good if you don't mind be bored to tears for a few hours. I'll post a link because I get bonus money if you sign up using the link but if mods don't approve of that, delete the link and just go ahead and google 20cogs.

http://20cogs.co.uk/validate/refer_a_friend/welcome/330152?keyword=referred

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On 3/2/2017 at 14:41, Vocey said:

Quite interested in the whole matched betting thing, although already taken advantage of most bookies sign up offers. Any tips on how to get started?

Check out PSinitras response above and feel free to get in touch if you have any other questions. I use profit maximiser and would thoroughly recommend it. Matched Betting is not for everyone, but i think it could really help and provide financial freedom for alot of people so do get involved if you think its for you. As i stated earlier in the thread - I'm aiming to use it to pay off my mortgage and build a conservatory for the house in the next 5 years - that's a total of  around £165,000!

 

Wouldn't say i'm an expert as only start in May last year, but i'm £10,000 up in that time overall, and now i'm using additional products my profit is increasing too. For example my profit for February was £2500 tax free. More than my wage for about 2 hours a day - although it was a particularly good month and i haven't hit these heights consistently yet(but i will). 

 

There's plenty of different websites available for advice and to guide you through offers though. As i've said further up the thread, if you are interested in profit maximiser, let me know as there's a link where i get a introduction bonus. Its an annual subscription of about £120 i think but you can make that back in a few days.

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On 02/03/2017 at 12:35, Merging Cultures said:


Have you read Dave Ramsey's books? I know he is Christian (not everyone's taste) but he says exactly what your saying.

I.e. no need to waste £20 on a book :)

Haven't heard of him, but it's amazing how many people don't do the simple things they should. 

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This earning money from gambling is interesting. I did it for a while, just for a bit of fun as my friend used to pull about £50k a year through it. 

 

I cant remember now what I earned, but quit as I was just copying him and didn't have the inclination to carry on, but it did work.

 

I remember putting £1000 in a pot to start with and my first bet was £700 on Serbia to beat a small team. Zigic scored in about 70th minute and I was told to cash out as soon as the goal went in. 

 

He would study the football all Friday evening and Saturday morning then text me with only about 4 teams to bet on, all singles. I remember once betting on Peterhead, he looked into so much detail.

 

I won without fail every week, and I remember asking him to pick another four so we could make more and he said "I have spent all evening and morning studying every team, there isn't another four, this is the whole four across all divisions I think will defo win"

 

Regullaly used to have £1000 on Barca on a Sunday night to win about £300 I think? I used to say the odds were rubbish and he told me "odds are not important, just focus on who is going to win the game and if you are sure, you will make money"

 

We always cashed out so you always secured your win and you could relax. 

 

This guy gave it up only because he took a job for £200k a year and then opened a business. But he gave that up recently to focus on his gambling again. 

 

It definately can work, but and this is the big but. Most people in general make rubbish decisions in life constantly. And I think most wouldn't be as disciplined as this guy in making the right decisions gambling. He's naturally astute and that is a gift in itself so I think it would be rare for someone to be able to do this properly and succeeed. 

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On 3/4/2017 at 10:05, Rob1742 said:

This earning money from gambling is interesting. I did it for a while, just for a bit of fun as my friend used to pull about £50k a year through it. 

 

I cant remember now what I earned, but quit as I was just copying him and didn't have the inclination to carry on, but it did work.

 

I remember putting £1000 in a pot to start with and my first bet was £700 on Serbia to beat a small team. Zigic scored in about 70th minute and I was told to cash out as soon as the goal went in. 

 

He would study the football all Friday evening and Saturday morning then text me with only about 4 teams to bet on, all singles. I remember once betting on Peterhead, he looked into so much detail.

 

I won without fail every week, and I remember asking him to pick another four so we could make more and he said "I have spent all evening and morning studying every team, there isn't another four, this is the whole four across all divisions I think will defo win"

 

Regullaly used to have £1000 on Barca on a Sunday night to win about £300 I think? I used to say the odds were rubbish and he told me "odds are not important, just focus on who is going to win the game and if you are sure, you will make money"

 

We always cashed out so you always secured your win and you could relax. 

 

This guy gave it up only because he took a job for £200k a year and then opened a business. But he gave that up recently to focus on his gambling again. 

 

It definately can work, but and this is the big but. Most people in general make rubbish decisions in life constantly. And I think most wouldn't be as disciplined as this guy in making the right decisions gambling. He's naturally astute and that is a gift in itself so I think it would be rare for someone to be able to do this properly and succeeed. 

I know some people who follow similar programs to make money from gambling. It can be very risky though and i decided wasn't for me as i didn't have the knowledge or time to find the best matches to bet on - and footballs a funny game, theres always surprise results. Can't argue with you last paragraph though, which is why i say its not for everyone as discipline is a key skill with matched betting too. 

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1 hour ago, Steve_Walsh5 said:

Anyone reccomend a good savings account for my son. 

 

We save £100 a month for him but currently keep it in my partners account. He's only 5 months old so I didn't know if any Banks or building society's would give us incentives to join them. 

Have you thought about a Junior ISA investing in a stocks and shares fund? Regular saving and a long timescale means you can in theory afford to take some risks, if you're of a mind to, of course

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1 hour ago, Steve_Walsh5 said:

Anyone reccomend a good savings account for my son. 

 

We save £100 a month for him but currently keep it in my partners account. He's only 5 months old so I didn't know if any Banks or building society's would give us incentives to join them. 

I used Children's Mutual for both mine, although I've not deposited in for a while. Both mine have pocket money accounts now with Go Henry, it's fantastic. You set them little tasks to do through the week, that can see on their fire tablets. Once they are all done at the end of the week it transfers their pocket money over.

Homework, reading, tidying up, not sleeping in their own rooms and fighting is a rarity these days.

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3 hours ago, Steve_Walsh5 said:

Anyone reccomend a good savings account for my son. 

 

We save £100 a month for him but currently keep it in my partners account. He's only 5 months old so I didn't know if any Banks or building society's would give us incentives to join them. 

http://www.moneysavingexpert.com/savings/child-savings-tax-free

 

I recently opened the halifax account for my little one

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1 hour ago, Strokes said:

I used Children's Mutual for both mine, although I've not deposited in for a while. Both mine have pocket money accounts now with Go Henry, it's fantastic. You set them little tasks to do through the week, that can see on their fire tablets. Once they are all done at the end of the week it transfers their pocket money over.

Homework, reading, tidying up, not sleeping in their own rooms and fighting is a rarity these days.

I'm loving that pocket money idea mate. Thanks for sharing :thumbup:

 

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4 hours ago, Steve_Walsh5 said:

Anyone reccomend a good savings account for my son. 

 

We save £100 a month for him but currently keep it in my partners account. He's only 5 months old so I didn't know if any Banks or building society's would give us incentives to join them. 

Do a google search. They change all the time but there are usually accounts that you can stick money in for kids at a higher interest rate. But normally when it gets to about £10k they cut the interest to virtually zero.

 

The best thing is to put in a kids ISA I am told, but again these will all change interest every year. 

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On 04/03/2017 at 10:05, Rob1742 said:

This earning money from gambling is interesting. I did it for a while, just for a bit of fun as my friend used to pull about £50k a year through it. 

 

I cant remember now what I earned, but quit as I was just copying him and didn't have the inclination to carry on, but it did work.

 

I remember putting £1000 in a pot to start with and my first bet was £700 on Serbia to beat a small team. Zigic scored in about 70th minute and I was told to cash out as soon as the goal went in. 

 

He would study the football all Friday evening and Saturday morning then text me with only about 4 teams to bet on, all singles. I remember once betting on Peterhead, he looked into so much detail.

 

I won without fail every week, and I remember asking him to pick another four so we could make more and he said "I have spent all evening and morning studying every team, there isn't another four, this is the whole four across all divisions I think will defo win"

 

Regullaly used to have £1000 on Barca on a Sunday night to win about £300 I think? I used to say the odds were rubbish and he told me "odds are not important, just focus on who is going to win the game and if you are sure, you will make money"

 

We always cashed out so you always secured your win and you could relax. 

 

This guy gave it up only because he took a job for £200k a year and then opened a business. But he gave that up recently to focus on his gambling again. 

 

It definately can work, but and this is the big but. Most people in general make rubbish decisions in life constantly. And I think most wouldn't be as disciplined as this guy in making the right decisions gambling. He's naturally astute and that is a gift in itself so I think it would be rare for someone to be able to do this properly and succeeed. 

Interesting 

 

 

 

 

 

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4 hours ago, Strokes said:

I used Children's Mutual for both mine, although I've not deposited in for a while. Both mine have pocket money accounts now with Go Henry, it's fantastic. You set them little tasks to do through the week, that can see on their fire tablets. Once they are all done at the end of the week it transfers their pocket money over.

Homework, reading, tidying up, not sleeping in their own rooms and fighting is a rarity these days.

That sounds awesome to be fair! Will defo look into that when little one is a bit older 

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6 minutes ago, RobHawk said:

That sounds awesome to be fair! Will defo look into that when little one is a bit older 

You would be amazed at how quickly their maths skills have improved too, it's a great little app.

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I've thought about paying my mortgage off but it's 1.49%. Not exactly crippling. Plus in 10 years time inflation will make it cheaper anyway.

 

Thought about BTL, but after stamp duty, fees, maintenance, mortgage interest, hassle etc, it doesn't seem like much.

 

Thought about ltd company and buying houses through that, but would mean a commercial mortgage and they're expensive.

 

Maybe just buy one house outright and let it in wife's name. But purchase price and rent yield on one property makes paying the mortgage look better.

 

It's doing nothing in the bank that's for sure, I've spread it around interest bearing accounts but it's paltry.

 

No idea what to do tbh.

 

This matched betting, is it best to do it on a laptop/workstation. Not something that can be done on an iPad?

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2 hours ago, Ian996 said:

I've thought about paying my mortgage off but it's 1.49%. Not exactly crippling. Plus in 10 years time inflation will make it cheaper anyway.

 

Thought about BTL, but after stamp duty, fees, maintenance, mortgage interest, hassle etc, it doesn't seem like much.

 

Thought about ltd company and buying houses through that, but would mean a commercial mortgage and they're expensive.

 

Maybe just buy one house outright and let it in wife's name. But purchase price and rent yield on one property makes paying the mortgage look better.

 

It's doing nothing in the bank that's for sure, I've spread it around interest bearing accounts but it's paltry.

 

No idea what to do tbh.

 

This matched betting, is it best to do it on a laptop/workstation. Not something that can be done on an iPad?

If you have the money regardless of the low interest rate pay your mortgage off, that 1.49% wont last for ever and i assume once your out of product it will default to the base rate so about 2.15% unless you fork out another grand for a new product.

 

Buy 2 let is good and its a shame about the stamp duty rise. Government always ****ing over the little man because that stamp duty increase does not even touch the sides of people who rent out entire streets.

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2 hours ago, Ian996 said:

I've thought about paying my mortgage off but it's 1.49%. Not exactly crippling. Plus in 10 years time inflation will make it cheaper anyway.

 

Thought about BTL, but after stamp duty, fees, maintenance, mortgage interest, hassle etc, it doesn't seem like much.

 

Thought about ltd company and buying houses through that, but would mean a commercial mortgage and they're expensive.

 

Maybe just buy one house outright and let it in wife's name. But purchase price and rent yield on one property makes paying the mortgage look better.

 

It's doing nothing in the bank that's for sure, I've spread it around interest bearing accounts but it's paltry.

 

No idea what to do tbh.

 

This matched betting, is it best to do it on a laptop/workstation. Not something that can be done on an iPad?

I use a laptop but im a bit old school - alot of people just use ipad/mobile

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14 hours ago, m4DD0gg said:

If you have the money regardless of the low interest rate pay your mortgage off, that 1.49% wont last for ever and i assume once your out of product it will default to the base rate so about 2.15% unless you fork out another grand for a new product.

 

Buy 2 let is good and its a shame about the stamp duty rise. Government always ****ing over the little man because that stamp duty increase does not even touch the sides of people who rent out entire streets.

I always remortgage with no fees. No ERC either with the Nationwide Flexclusive offer, so I can remortgage when I want too.

 

It'd be nice to pay it off, don't get me wrong, but surely there are better things to do with the money.

 

What returns are people getting from stocks and shares ISA? My mum did one years ago and ended up with less cash so I've always steered away.

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