OK so I've been a little slack with my posts recently. In fact I see my last one was almost a year ago! I haven't given up my goal but I have been very busy this past year and as you may've noticed from the most recent posts, the timescales were getting increasingly difficult to achieve. Here is the original schedule I drew up:
Step 1: £125 to £250 - 1 week
Step 2: £250 to £500 - 10 days
Step 3: £500 to £1000 - 2 weeks
Step 4: £1000 to £2000 - 3 weeks
Step 5: £2000 to £4000 - 1 month
Step 6: £4000 to £8000 - 2 months
Step 7: £8000 to £16000 - 3 months
Step 8: £16000 to £32000 - 4 months
Step 9: £32000 to £64000 - 5 months
Step 10: £64000 to £125000 - 6 months
Step 11: £125000 to £250000 - 8 months
Step 12: £250k to £500k - 10 months
Step 13: £500k to 1 million! - 1 year
As you see, before I left off I was on step 5. But i admit I haven't achieved the targets as originally planned above (if i had I would have been on around £32k by now). So what have I been up to? Well a month after my last post, I actually got a promotion at work. This was both welcome and unexpected and has helped my finances a fair bit although it has resulted me being a lot more tired at the end of every day. I have also put an offer in for a house that was accepted and then fell through at the last minute due to a higher bid. Meanwhile, the business plan that I had mentioned before has yet to take off but there have been steps of progress.
For the final 9 steps, I think it would be wise to increase the timescales a tad and I hope to draw up a new plan shortly. In the meantime, let's have a rough indication of my challenge progress over the last year:
Starting Roll: £2046.23
Return on Shares: + £890
Couple of Months Work: + £2550
Petrol + Car Maintenance: - £1100
House Offer Falling Through: - £140
Finishing Roll: £4246.23
Work coupled with overtime is the main driving force but I have had success with investing in shares recently which I hope to continue.
Finally, despite the falling away of both my and other doublers' blogs, it's great to see that the DTAMP blog is still growing strong. Perhaps the best and most interesting to read of all the doubling challenges, it is well worth a visit.