Tales From the Frugaleur (Frugal Entrepreneur).

Have you got a cash cow?

OK, it's time to fight back against all the doom and gloom of austerity measures and the reportedly 'footloose to frugal' shift for Britain. What a piece of nonsense! If everyone took some responsibility for their own actions then we wouldn't have so many problems. Trouble is, we all thought we were being responsible when we borrowed cash to buy property, visit foreign lands, enjoy luxuries we were too impatient to save for and set up dot com businesses.

The mass media is only the mass media because we pay for it - it's not an essential, but we pay for it and it tells us what we're meant to believe.

Is your finger in too many pies?

'Designer wear' has a nice ring to it, far nicer than 'hand me downs', so let's make frugality pay! It makes good money sense, it makes for better business relationships, it ensures the safety of more jobs and it invites wiser investments. I don't hear any complaining from the 'Dragons', nor do I hear the likes of Lord Alan Sugar, Sir Richard Branson, Bill Gates or Warren Buffett whine about being skint. There's plenty of cash still floating around the global economy but, also, plenty of governments attempting to devalue it. No point banking it, there's s*d all interest to be gained. No point investing it in foreign currency, they're all depreciating, too. No point spending it - because then you're back to having nothing other than the memory of what might have been a good time. So what's the next big thing?

Make your dough go further

I read about Martin Lewis and his quest to bring things like household budgetting into the national curriculum, but in the self same forum I read posts from so many teachers who cannot cope with the job of teaching. Doesn't he read his own forums? Who will teach the subject, how will it be monitored and who knows how best to budget for any special needs? I speak to kids of 6 who say they cannot read, they can barely write their own names, yet they can key in a 12 digit password to access the school's computer system - what the hell is that all about? These kids cannot read or write! Their parents are too busy trying to work every hour available to take the time to support teachers that cannot take the time to teach because they're strung up in paperwork, red tape and preparation, probably at the expense of their own families.

So what's a frugaleur to do?

Learn to live with the fact that life doesn't have to cost a fortune, learn that there probably is enough of everything to go around for a long time yet and learn that nothing lasts forever - that includes life! Make the most of what you have and if you can spare £10 to try to do the job of £20 then all the better.

Don't count your chickens...

Frugaldom is my way of life, it's a homelife, a business life and it's enough! It's not just about being frugal, it's about helping to show others that debt isn't a life sentence , it isn't a terminal illness and there IS a cure. That cure IS Frugaldom - freedom to live YOUR life in frugal comfort.

Frugaldom is my business - so let's get this show on the road. Now You Know!

Variety is the spice of life

Today is the final day for applications from prospective challengers seeking micro-funding, with the newest frugal moneymaking challenge beginning on Tuesday 1st February. The maximum start-up investment is £10 but there's no limit to how often you can reinvest any profits. The object of this 'game' is to have at least £10 plus the 6.7p interest you might have earned from the bank in interest remaining at the end of 10 weeks. With a little bit of forethought and planning, some dedication and some self-promotion, anyone has the capability to convert their seed fund into a self-sustaining enterprise. So, let's get enterprising.

Anyone who chooses to take part should join the forum to ensure access to any free hints, tips or suggestions offered by other budding frugaleurs. It will also be the meeting place for discussions relevant to the challenge topic and your opportunity to write up your progress, ask questions, offer suggestions and compare notes.

£10, 10 weeks, 10 good reasons to give it a go:

1. It is fun
2. You'll can interact with like-minded others
3. It's a chance to prove to yourself that you can complete a short challenge
4. £10 is a small price to pay to experience the thrill of working your money, rather than spending it
5. If you focus on somethig you love doing then the prospect of profiting from that in the future isn't like any other job you could have
6. You could find yourself self-employed with a successful business
7. You might choose to spend your £10 seed fund on eBay and eBid trading, then end up running your own store.
8. It could lead anywhere - meeting new people, making new business contacts, introducing you to other moneysaving and moneymaking schemes
9. A self-sustaining profit could pay off debts
10. If any profits keep on turning a profit, sustaining your lifestyle, the sky's the limit.

As they say, pigs might fly, but so, too, might the lucrative, creative juices of any fertile mind. Give it a go - what have you got to lose?

No secrets being divulged until Tuesday.

Good luck to all who participate.

If you plan on starting a business, don't forget to register (free) as self employed with HMRC and be aware of your obligations to pay National Insurance & any relevant taxes, should your profits soar above the minimum thresholds. Depending on what you decide to do, there may be other legislative requirements. If in any doubt, please contact the relevant authorities.

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