How a Somali Friend saved 100k in 36months.

[Deactivated]

I live at home lol thank God otherwise I wouldn't have survived my dad is making me pay rent at the moment but I don't have to pay for food/laundry/ heating so I figured it could be worse

I'm not really a big spender and I'm being extra frugal this year! No going out and no new clothes for a while lol I used to take the tube to work but swapped that with the bus, it takes a great deal longer but at least it's cheaper and 've been going through so many books by just reading on the commute so that's a plus lol. I'm actually thinking of trading in my bus pass for a bike it's quicker, healthier and cheaper (after the initial investment!) Plus that's my weekly cardio out of the way lmao I feel like I spend more time thinking of ways to maximise my limited time than I do my spendings



Definitely change your diet I feel like that's what has had the biggest impact. I always make sure to get 8 hours of sleep otherwise I know I'm gonna break down by the end of the week

I thought 40 hours was bad fucking 60 and I'm doing 4 double shifts this week fml

Thats Amazing.

Have you thought of Etsy?

An amazing growing trend is Camil Milk Soap products and Goat milk products.

Your rent can't be that much. But, you need to focus on a 24-36 month plan be strict.

 

[Ferrari]

I live at home lol thank God otherwise I wouldn't have survived my dad is making me pay rent at the moment but I don't have to pay for food/laundry/ heating so I figured it could be worse

I'm not really a big spender and I'm being extra frugal this year! No going out and no new clothes for a while lol I used to take the tube to work but swapped that with the bus, it takes a great deal longer but at least it's cheaper and 've been going through so many books by just reading on the commute so that's a plus lol. I'm actually thinking of trading in my bus pass for a bike it's quicker, healthier and cheaper (after the initial investment!) Plus that's my weekly cardio out of the way lmao I feel like I spend more time thinking of ways to maximise my limited time than I do my spendings



Definitely change your diet I feel like that's what has had the biggest impact. I always make sure to get 8 hours of sleep otherwise I know I'm gonna break down by the end of the week

I thought 40 hours was bad fucking 60 and I'm doing 4 double shifts this week fml

At least you get to read books as you commute, that's a plus right there. Wallahi I'd hate to do any double shifts on any day. If you eat good and sleep good, you'll be okay. Keep in mind that whatever you are doing now has to be temporary because it gets messy real quick.
Hopefully, you'll be where you want to be before that happens.
Good luck.

 

[Don]

Has he experience in stock market because 100k is a lot of money. I would open a shop.

You can open many shops with 100k lol

 

[Admin]

You can open many shops with 100k lol

A Somali shop perhaps, in Dubai Mall. But in a proper store is much more expensive, here in London at least.

Read more on Dubai Mall. http://www.thenational.ae/uae/the-dubai-mall--but-not-as-you-know-it

 

[Don]

A Somali shop perhaps, in Dubai Mall. But in a proper store is much more expensive, here in London at least.

Read more on Dubai Mall. http://www.thenational.ae/uae/the-dubai-mall--but-not-as-you-know-it

1000 a month is too expensive. London is too expensive, why don't you move to Birmingham? You can buy shops there for less than 30k

 

[Admin]

1000 a month is too expensive. London is too expensive, why don't you move to Birmingham? You can buy shops there for less than 30k

Jesus christ mate, move to Birmingham? I'm not tired of living just yet. I don't think you can buy them outright, there are leases. In this day and age, you are better off doing it online and saving overhead. With a 100K an a niche you can be very successful.

 

[Don]

Jesus christ mate, move to Birmingham? I'm not tired of living just yet. I don't think you can buy them outright, there are leases. In this day and age, you are better off doing it online and saving overhead. With a 100K an a niche you can be very successful.

What type of online business?

 

[Inquisitive_]

Great post by the OP, it's pretty much what I have been doing all my life with very little overhead.

The only thing I would add before you start this which will add more discipline to you, is invest serious time into learning skills that pays you close to six figures with special attention to software/network engineering which pay the highest.

That way you save up much more money and have more leeway, most male's are idiots that will spend much of their money on women, whether directly or indirectly (buying that expensive car/clothes/cologne etc.) don't fall for this trap it's beta, in my days I never spent a penny on them.

Investing in stocks unless you are a professional is a waste of money and you will loose very big, I worked in banking for years with traders, it's poor advice, buying properties in the UK is also very bad advice particularly in major cities, both are going through major bubbles and with the way things are going in the west conflict and chaos will soon ensue.

 

[Inquisitive_]

Jesus christ mate, move to Birmingham? I'm not tired of living just yet. I don't think you can buy them outright, there are leases. In this day and age, you are better off doing it online and saving overhead. With a 100K an a niche you can be very successful.

Birmingham is the next great success story, virtually much of the Banking IT departments (Deutsche bank, HSBC) and soon to follow Barclays all relocated their staff their. More and more businesses are going their because it's cheap.

Based on linkedin messages I get from recruiters for the first time in years I am seeing a dozen consulting positions open up with pretty much the same day-rates as London and over the year seen a steady increase were as before it was exclusively London (why I moved here).

That's a 1.6K rent vs 600 pounds for the same package right now. With the new HS2 fast trains with 14 trains per hour over 1000 seats, that journey will be 45 minutes.

What do you think everyone will do then? continue paying ridiculous prices in London? when you can get cheap rent and buy even cheaper in Birmingham and arguably reach work faster then you would within London?

 

[Admin]

What type of online business?

That's up to you. I can't give you advice on something I have not done myself. You should put your skills to the test or gain new ones. For instance, when I was a teen I was buying items from abroad and selling them on classifieds. I also made websites. Even though I have no formal qualifications in computing, I was able to gain a job in the IT industry because of it. You need to be a hustler.

 

[Admin]

Birmingham is the next great success story, virtually much of the Banking IT departments (Deutsche bank, HSBC) and soon to follow Barclays all relocated their staff their. More and more businesses are going their because it's cheap.

Based on linkedin messages I get from recruiters for the first time in years I am seeing a dozen consulting positions open up with pretty much the same day-rates as London and over the year seen a steady increase were as before it was exclusively London (why I moved here).

That's a 1.6K rent vs 600 pounds for the same package right now. With the new HS2 fast trains with 14 trains per hour over 1000 seats, that journey will be 45 minutes.

What do you think everyone will do then? continue paying ridiculous prices in London? when you can get cheap rent and buy even cheaper in Birmingham and arguably reach work faster then you would within London?

That's great for Banking IT but I doubt young adult want to move from London to Birmingham unless absolutely necessary. Commuting from London to Birmingham on HS2 is unrealistic for a young person. If Banking IT is flourishing there then great but there are plenty of IT companies in the South East to choose from.