Pound to £5k Challenge

Week Ten

WEEK TEN

As we enter the third month of 2024 (how on earth are we already there!?) I am so pleased to see how many of you are increasing your income through the methods I’ve shared in these emails so far!

Don’t forget that, even if you’ve missed an email, you can catch up by heading to the Challenge Hub linked below and work your way through at your own pace (there is no rush)

Last week I sent this email from the airport before a short trip away so if you are waiting for a response from me anywhere, I will get back to you now I’m back home

SIGN-UP OFFERS

The headline offer this week isn’t the one I was hoping for, but is a great offer nonetheless from the bank I’ve been using for The Bank Engine for the past 3 years so I couldn’t be happier to share it with you!

£50 FOR OPENING A METTLE ACCOUNT

Mettle is a business bank owned by NatWest that is aimed solely at small businesses and sole traders and if you sign up through a referral link you can bag yourself a cool £50 cash!

You might be thinking to yourself that you would love £50 but don’t have a business, however if you are doing any mystery shopping, market research, or even clearing out your cupboards on Vinted you can open an account as a sole trader!

Like I say, I’ve been using them for years and couldn’t recommend them more for how much having a separate bank account has helped me run my business!

FREE SHARE WORTH £5 TO £200

Wealthyhood is an investing app based in the UK that I have been testing out for a number of months and they have a decent referral scheme if you have some cash spare to park for a short while!

1. Send me a message or email with the word “Wealthyhood” for my referral link (every one is unique)

2. Set up your Wealthyhood account (choose the basic package as it’s free)

3. Create your first portfolio (something like £VUSA tends to stay relatively stable)

4. Deposit and invest £100 into your account within 7 days

5. You will receive your free share worth £5 - £200 in a few days

6. 60 days later you can sell your free share and withdraw your cash

THE BEST TIME TO START MATCHED BETTING?

In week 6 I introduced matched betting as a tax-free side hustle that has made me £1,000s and I am excited to see how many of you are progressing with your matched betting journeys!

Whilst there’s no such thing as a perfect time to start, it is worth noting that the Cheltenham Festival is on from 12 March - 15 March 2024

In anticipation of one of the busiest times for British bookies, there are often some increased profits available when it comes to matched betting so if you haven’t yet had a look at what it is or how it works, it could be worth a quick look if you’ve got 5 minutes…

HOW I MANAGE TO JUGGLE EVERYTHING

I had actually planned to cover this before Mettle introduced their sign-up offer (featured above) but it might seem like climbing a mountain to make money in your spare time whilst also having a job but here are my top tips:

1. Keeping things separate (a business bank account or PayPal) allows you to not get muddled with where everything is

2. Set aside a block of time every week/ fortnight/ month to focus on making extra cash

3. Definitely include any extra money you are planning to make into your budgets as it could bridge the gap between big upcoming costs

4. Don’t be too harsh on yourself! I used to constantly push myself to side hustle 24/7, build this business, work full-time and study for my ACCA qualifications - surprise, surprise, I was getting burned out!

MY EXTRA EARNINGS SO FAR THIS YEAR!

Transparency is the bread and butter that holds all of this together, and there would be no point in me telling you about all these great ways to increase your bank balance without sharing my progress with you!

My extra income so far this year is:

A QUICK REMINDER!

I would greatly appreciate your help with something please!

If I have ever helped you save money, make money, or you just enjoy what I do, could I please ask you to vote me for “Money Influencer of the Year” at the link below?

It’s a tough competition but if you would be so kind, I would be exceptionally grateful! To vote for me, you just need to enter the following:

• Name: Thomas, The Bank Engine

• Handle: thebankengine

• Rating: whatever you feel!

• Reason: completely up to you!

• There are some other optional questions too!