Thursday, November 01, 2007

New Challenge: £1k to £101k

It's new challenge time! After paying for my wedding I've decided I need a new goal to focus on to keep me on the straight and narrow. So after much thought I've come up with the rather unoriginal £1,000 to £101,000 challenge.

The aim then is simple. Turn £1k into £101k. And pocket a cool £100,000 profit in the mean time. Well, one can but dream! The whole thing may not be as far-fetched as it sounds though. Why not? Because I'm going to cheat a little! The new challenge will include my results to date. Which means, as the picture below shows, my original £1k now stands at £46,734.51. (Click graph for larger image)

So why a new challenge? Simple. It helps keep me focussed and disciplined - as does writing this blog. The idea has worked once, with my successfully saving for my wedding, and hopefully it can work again.

And why this challenge? Given time it's realistic. I'm not going to achieve it in 3 months. But at the same time hopefully I won't still be at it in 3 years. Goals need to be challenging but achievable. I think this is both.

There we go then. A new challenge. With a new look blog and a new bankroll management policy to follow shortly. Check back soon!


STST said...

I like this idea. Should be easily achievable from where you stand at the minute. Good luck.


The Betfair Trader said...

Blimey Gareth. While I agree it's possible I'm not sure making the best part of £55k profit is "easily achievable"! Seems a bloody long way off from where I'm sitting right now!! Thanks for the good wishes though and I hope I fulfill your confidence. :-)

Anonymous said...

Best of luck mate! Hope you make it as long as you don't take to much of my money in the process!

The Betfair Loser said...

good luck...I have no doubt you will reach your goal, and probably a lot quicker than you think!!

gerrikabeitia said...

A great challenge indeed!
But in the last couple of months you've proved that this kind of profits could well be achieved.
Best of luck!

the_20k_challenge said...

Good luck wih this, i'll be checking your updates to see how you do. I've just started a similar challenge, but my goal is smaller - turn £200 into £20k. All the best for the New Year!

Anonymous said...

Is this blog dead?

Anonymous said...

looks like it.