It’s no secret that since 2008 and the financial crisis that the regular man and woman has been getting screwed. There’s not a week goes by that I read an article on the internet that tells me inflation is rising yet wages are falling. What happens when prices rises but wages fall? People get financially squeezed!
“The upshot is that today’s young adults are the first generation since at least World War Two not to start their working lives with higher incomes than those born before them.”
(Source: BBC News April 2017 www.bbc.co.uk/news/)
That article and quote was published in the month I turned 28 myself and when I read it I couldn’t help but find it an incredibly depressing fact! As someone who’s been matched betting since 2014 I don’t know how many people my age get by with just their yearly salary.
So, to give you some inspiration to start your path to financial freedom I’ve pulled 5 example from the Profit Maximiser Facebook group of what real people like you and me are spending their matched betting earnings on.
Just a note: The following includes real examples from Profit Maximiser, the matched betting service I personally use. I’ve blurred out the names on the posts for privacy reasons, but if you want to verify them yourself you can search for them when you get into the Profit Maximiser Facebook group.
1. Pay for Their Dream Car
It’s an obvious one, isn’t it? All of these guys on Profit Maximiser posted to show off their new purchases. It’s jokingly known as ‘willy waving’ on the Facebook group but sure why wouldn’t you show people what you’ve bought with your new found financial freedom?
People want to see what others are doing and get inspired to take action. Whilst I didn’t use my matched betting funds to put down a deposit on my car, I do use the money to pay it off every month. I had a Renault Clio that was falling apart, so I got myself a Volkswagen Scirocco in 2015 and I love it!
Then you have people who like to buy a £50k Aston Martin from their profits…
2. Pay for Their Deposit on a New House/Pay Their Mortgage/Pay Their Rent
People frequently post on Profit Maximiser about how they’ve put their money to good use by putting it down as a deposit on a new house or even just increasing their mortgage payments so they can pay it off sooner.
You can tell by their posts in the Facebook group that matched betting has been of huge benefit to them – I mean, who wouldn’t want some help with paying off such a massive amount of money such as mortgage or a deposit on a house.
3. Pay for The Little Luxuries in Life
I’ll take the mic on this one and speak from my own experience. When I started matched betting I was 25, living at home and had just started my first office job. So, the money I was making from Profit Maximiser was spent on myself. Because why not? I bought:
- A Playstation 4 – my first big purchase
- A new 42” HDTV to go along with it
- A new Macbook
- A new Macbook Air for my brother for Xmas – how generous was I?!
- A holiday to Thailand – if you haven’t been, I highly recommend it!
- A city break to Rome for me and my Mum – cus I love my Mum and she deserved it!
Looking back now, I kind of wish I’d kept some more of it and invested it, but I was financially naïve. These days, since I’ve moved out, I use matched betting to pay for the more simple things like rent, living expenses and paying my car. But I also find some time to invest it into the likes of Bitcoin.
4. Starting A Business/Investing it
I’ve seen countless people on Profit Maximiser post about how they saved their earnings so they could start their own business. These are the ones who were thinking long term – which I kind of wish I did when I first started out!
As said above, I use my earnings to invest in Bitcoin. I’ve read and watched a lot of stuff over the past year about how money makes money, so I’m more conservative about how I spend my earnings and instead think of what I could do with it in the future once I’ve compounded it.
5. Pay for Their Wedding
I’m not married, but we all know that weddings cost a sh*tload. The ball park figure is about £10-20k… I guess? With weddings often taking between 1-2 years to plan that’s plenty of time to make most, if not all that money.
That’s 5 things that regular people do with their extra yearly income. I wanted to include a mix of the simple and the more extravagant because to some people an extra income wouldn’t be spent on luxuries.
To some people the extra income is a way of keeping debt-free and cutting out the stresses in life that come with regular bills.
This is proof that you can change all that if you choose to.