How to increase your winnings when playing the lottery

How to win the lottery?

We're playing the lottery as a syndicate at work. There are 12 of us taking part, paying £10 into the syndicate per week, for 5 weeks.

The lottery is a waste of money!

I am virtually throwing away £50 over the next few weeks. I play because it's something fun to talk about on Monday mornings.

Being money conscious, I would not allow the syndicate to play the lottery in the same way the majority of people play. We were going to try to maximise our earnings. 

The money collected gave us a pot of £120 per week with which to purchase tickets. At £2 per ticket this allowed us to purchase 60 tickets each week.

The lottery winning system

We randomly selected 9 numbers and grouped them into 3 sets of three. Then we wrote out all 27 combinations of those three sets of numbers. For example, if we chose the numbers one to 9 and grouped them: 1,2,3 and 4,5,6 and 7,8,9. Then out combinations would go as follows:
Then we would cycle through the nine combinations that start with 2 and nine combinations that start with 3, making 27 combinations in total. 

Of course, this system only picks the first three numbers for each ticket. We randomize the remaining three tickets.

The reason for having the first three numbers in various combinations is not to improve your chance of winning the jackpot. Of course every ticket, regardless of numbers has a 1 in 14million chance of winning in the national lottery. The purpose of the lottery combinations is so that if you win on one of the tickets by having three or more of your numbers come up, you will win several prizes as the numbers appear multiple times.

In our case where we bought 60 tickets. We picked 18 numbers randomly in two sets of 9. This provided us with two sets of 27 combinations making 54 lines in all. The remaining 6 lines were chosen randomly.

We'll just have to see whether all this effort was worth it!

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Multi-Millionaire Road Plan Review (7)


This post details my financial progress as of the end of December 2013. All posts of a similar title to this one are written to demonstrate how all prior published articles interlink to form my plan to become a Multimillionaire. Think of these posts as a self-review of my progress and the blueprints to my Multi-Millionaire Road Plan. I encourage my readers to add comments on these posts. Feel free to compare to my previous report:

Multi-Millionaire Road End of December 2013 Report:

As always I'd like to offer a huge thank you to all my readers. Without your readership, comments, tweets and following I would not find the motivation to keep posting. I hope you will continue to find this site interesting. 

In particular, I would like to thank all those readers who have recommended any of their friends to start to follow this site.

Website Progress

As you may have noticed, I am not hugely tech-savvy and in terms of a technologically impressive website it is definitely lacking. I have always felt that the pull of my site should be its content of which I am working constantly to improve. If any of you have any suggestions to improve the site then please feel free to email me at 

Recent statistics show that the site attracts on average between 350-500 readers per day. This recent boost in readers is mainly due to the popularity of The Science of Wealth post. I am extremely happy with this level of readership but would always welcome more. If anyone invites a friend or family to read an article that i have written, or shares one of my posts, just let me know and I will personally get in touch to say thank you.

Get Rich Plan Update

Picture from freedigitalphotos
I am 16 months into working life and I am now still able to save roughly 20% of my monthly net (income after tax and pensions comes out of my pay package) income. At times this is a bit of a struggle when all sorts of unexpected costs crop up. I have very recently received a modest pay rise and as such my net income after pension contributions and tax is just over £1,707 per month. 44% of my net income goes on rent and bills. This is an area to focus on reducing in the future. I try to save about £341 per month. £135.75 goes into a Company pension scheme each month and is matched by my employer. Furthermore, I benefit from tax savings from this contribution.

The income set aside for savings is taken directly from my current account into an esavings account with virtually no interest. From there, I can transfer the money either into a stocks and shares ISA or into a cash ISA depending on how much of my allowance I've used. I aim to split all savings 50:50 between, cash and bonds and in stocks and shares. When making investment I aim to buy undervalued and dividend paying stocks (assuming there are any!).

My current share portfolio is performing strongly. With an overall performance net of any tax and charges of % over the last 2 and three quarter years.The FTSE100, for example currently sits at about 6750 points. When last I wrote it was at 6700. Although it is folly and fairly meaningless to make a prediction on the stockmarket I shall do so anyway: It will go up or down or stay the same, but regardless of the movement I will look to improve my research in the hunt for undervalued shares.

If you take a look back at an article back in March 2012, I gave my original financial breakdown. I now wish to update my current asset holdings:
  • £685 - Sits in cash as a deposit for the flat I currently rent.
  • £860.26 Current Account. This is obviously before any spending has occurred for the month of January.
  • £1,503.66 - Everyday Savings Account
  • £227.93 - cashback from credit cards
  • £11,624.85 - Loyalty Reward ISA
  • £100 - UK Premium Bonds
  • £14,468.66 Online Shares
  • £2,084.05 Funding Circle Investment
  • £300 - sitting as capital in a business account 
  • Total Accessible Assets: £31,854.41 (October 2013: £29,518.85)
This represents a growth in Total Accessible Assets of £2,336 (7.9%)
  • £4,461.95 - Friend's Life Pension (contributions since October 2012)
Total Assets £36,316.36 (October 2013 £33,469.82 - a £2,846 or a 8.5% growth)

I am very pleased with my progress over the three months. In March 2012 I began recording my tangible wealth. Back then it was £22,970. I have grown my net total accessible wealth by about 38.7% and my total wealth (including my pension) by 58% in 21 months. My original plan was to grow my wealth over the year by about £4000 from September 2012 until September 2013 which (if you prorate my progress) means that I have already achieved this goal 3 months early. Arguably, it should be acceptable to include the value of my pension as this will form part of my assets in later life, in which case I have smashed my goal.

Originally I wrote a post on a Get Rich Plan and am currently in the middle of implementation. Whilst I have a long way to go, I am currently laying the foundations of this plan. I will now go through each section, briefly:

  1. Frugality - I believe that life should be lived whilst preparing for the future. As such I don't buy into the argument that you should count every penny. Instead, you should get the fundamental decisions right. for example, to automate your savings and commit a certain amount to savings each month.
  2. Budgeting - all going according to plan. My method allows me to ascertain where I may be spending too much.
  3. Saving - I am still trying to save 20% of my monthly net income. This is sometimes difficult as I find myself having to make unplanned purchases e.g. Wedding presents, parking fines etc. However, I am now making better utilisation of my cash, channeling more into cash ISAs, so much so that I have maxed out my limit for the current financial year.
  4. Debt - Although I have three credit cards, I have no debt. I pay them off in full each month. I have one credit card that gives 5% cashback for 3 months and 1.25% thereafter. The other two give 0.5%. Read my article to explain how to maximise the cashback on credit cards.
  5. Housing - My rent currently costs about £750 with bills. This is an improvement on the £800 I was paying previously. For more information on my ideas on Housing read my article: Renting Vs Buying.
  6. Investing - after all taxes and expenses my portfolio has increase by about 18% since it's inception  two and three quarter years ago.
  7. Tax - I have topped up my tax free ISAs. It is now maxed out. I am now starting to utilize my investment ISA with an ISA stocks and shares trading account.
  8. Job - My base salary is £27,650 plus my November exam bonus of £1,000 (gross). Living as a young professional living in London has huge opportunities for networking but of course is highly expensive.
  9. Time and Patience - on we go!
  10. Self-belief - it's only a matter of time
As you can see, on the whole things are looking good. There is much work to be done but at 24, I have time on my side.
I would encourage all of you to update your financial position. Feel free to use my post as a template. It helps you clarify what you have to do and where you are going.

What's going on in your personal financial review?

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Advanced Debt

Getting to grips with debt

In previous posts I have almost always made reference to debt as burden and to be avoided as much as possible. I wrote of the perils of debt and how to try to begin to tackle it. The following ideas should be considered carefully. I am not advocating taking on debt generally, especially if you have a poor history in controlling your personal finances. The following is an idea as to how to use debt to your advantage.

Using debt to your advantage

Let's consider what is debt? Debt is a liability. This means that it takes money out of your pocket. For example, If you take out a loan to purchase a car you will pay back the amount borrowed over time plus interest. So for debt to be good, are there any ways that you could borrow money such that each month you are better off having borrowed that money?

Good debt versus bad debt

Good debt should increase your cash inflow each month, whereas bad debt will increase your net cash outflow each month.

An example of good debt might be the mortgage on an investment property that is producing cash positive returns. Let's use an example to consider how this might work:

Good Debt Example

You find a 2 bed flat worth £200,000. You have £50,000 as a deposit and borrow £150,000 from the bank. At 4% mortgage rates, the house costs you £500 per month. However, you have been able to find two tenants each willing to pay £400 each for the flat. Assuming that maintenance and insurance costs you about £200 per month, you find that you are actually cash positive each month by £100:

Income (2X£400): £800
Mortgage: (£500)
Maintenance and insurance: (£200)
Total: £100

As you can see, even though you have £150,000 of debt, cash-flow-wise you are actually £100 better off each month.

Additionally, assuming this is not an interest only mortgage, the mortgage is actually being paid off by your tenants over time. The debt will reduce each year such that in 20-30 years it is all paid off.

Warning: Taking on an investment property should only be done if you have your personal finances in check and under control. Make sure all the maths checks out before buying an investment property. Make sure you will be cash positive each month and that you have stress tested for increased interest rates.

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Renting: protecting your deposit

Renting and rent protection

There are several risks to consider when renting. Chiefly, you transfer a large deposit to your landlord or letting agent and may wish to know that, assuming you keep the property intact, will get it all back at the end of the tenancy.

How to protect your deposit?

When you transfer the deposit, your money should be put aside and protected by an independent company in a deposit protection scheme.

How do I know if my landlord has put me in the deposit protection scheme?

Other than asking the landlord to produce the necessary documentation, there is a quicker and more hassle free way of knowing.

There are websites that allow you to check that your landlord has protected your deposit within the scheme. You can use some of the below sites:

Go on one of the sites and confirm that your deposit is in the protection scheme. You will also find guidance on what steps to take if your landlord has not placed your deposit within the scheme.

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

£50 John Lewis Vouchers Prize Giveaway!

Don't forget to check out the competition giveaway.

Follow the below link to the article and enter the competition at the bottom of the page.

You could win £50 John Lewis Vouchers and it'll only take a few minutes to enter!

Competition ends at the end of January 2014. So hurry!

Link: Competition

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Keep a sell list

Keeping a sell list

I've mentioned in the past that if you're going to start investing then you'd better keep a sell list. A sell list is a listing of all the shares in your portfolio that you may have sold.

Practicalities of a sell list

The sell list is pretty simple. When you come to sell a share, write down the following details: the date that you sold the shares, the position (number of shares) that you sold, and a description as to why you sold those shares.

Why keep a sell list?

Investing in shares is a difficult process. It is a constant learning experience. Even once you've gotten rid of your shares it is important to note that you cannot be sure that the decision to sell was correct unless you know for certain that you made a better investment elsewhere with the cash acquired from the sale. 

Not only is keeping a sell list an effective way to keep a record of the stocks you used to sell, for posterity sake, but it is a good way to check whether you made mistakes in your investment decisions in the past. 

Every 6 months it is worth going back to your sell list to review the stocks that you sold. Did they do better than you expected? Why? Does that mean that your assessment of the shares at the time of selling was wrong? 

You might find that through this reassessment process that some of your sale decisions were not correct. This should help you to make better investment decisions in the future, helping you grow your wealth and get richer!

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.

Spending Vices and Justifications....and a Giveaway!

One of the biggest financial issues that many people struggle with is overspending. The following article is writen as a guest post in conjunction with ZenithOptimedia and Natwest and details some of the key reasons why people make those damaging spontaneous purchases. ZenithOptimedia and Natwest have agreed to sponsor a giveaway at the bottom of the post. Enter to win £50 of John Lewis Vouchers below!!! It's so easy!

The majority of young people secure themselves a credit card in the event of an emergency; whether it’s in preparation for broken home appliances, food supply before payday or a last-minute train ticket home when the current account has run dry.  All first-time credit card owners’ intend on confining their spending to such circumstances, but then one day it arrives; the unplanned, irrational and crazy opportunity to spend large, and lead oneself into a period of repayments. It may be travel, shopping or luxury bargains that tickle your fancy, but whatever it is – we all have a weakness and a price. What’s really interesting is how we justify our own purchases when we’re standing with card in hand. Here are some impulse buys and their corresponding internal justifications.

1.      “It’s the opportunity of a lifetime”

For all adrenaline junkies, this usually comes in a form of an adventure. A group of friends plan on going skydiving, a mountain biking trip or heli-skiing expedition in Alaska and by the end of the day, the “emergency fund” is maxed out but travel, accommodation and sport equipment is all paid for. It’s an unforgettable opportunity, and this is why it’s a little easier to justify. After all, life is merely a series of experiences is it not, so therefore what better could I spend my money on, right? It’s almost difficult to dispute that.

2.      “It’s a ‘Must have’ Item”

Ah, it’s the definition that allows all justification. It’s a must-have therefore I can’t not-have, or that would be unfair. You’ll notice that when someone else owns that same item, it becomes all the more must-have, which is at least an indication to how fickle your own mind is with such desires. Whether it’s that pricey pair of shoes that you just can’t say no to, or it’s a new games console that your mates have all got, at that very moment in time – you just can’t afford NOT to. Incidentally, if you’re one who’s already ordered their PS4 or Xbox One, you probably belong to this group, having already secured the must-have item of the year for the highest price. And if you’ve whacked that on your credit card, make sure yours is 0% interest on purchases – as most of us would struggle to clear off £400 so easily.

3.      “I’m a Sucker for a Deal”

Groupon and Wowcher are experts at making the population go weak at the knees for a good bargain. This may not seem so crazy at first, but beware the power of a good deal. It starts with the birthday teeth whitening treat at 50% off, a girls’ day at the spa for an outrageous 80% discount, the knife kit with a needless selection or a dress making sowing class. How could anyone resist?

To all first- time card holders, be careful of the persuasive little voice that encourages the impulse to buy. A little spending once in a while never hurt anyone, but all in moderation. Don’t forget what defines an “emergency” and just remember to live within your means.

4.      “This is something I’ve ALWAYS wanted”

For some, a Mulberry handbag is not just something that they have admired through the shop window in passing. Oh no, that bag has been a lifelong desire of theirs, so deep routed that their eyes glaze over in wonder as they reach out to touch that which cannot be theirs. Or can it? With the credit card, it IS possible. And there’s the hook.

It omits a signal which compels them to walk toward the counter and request it from the shop assistant, who is only too happy to oblige. On their walk over, their credit card is in hand – though they don’t remember pulling it from their purse. The thought of securing the bag of all bags – the lifelong desire is about to be fulfilled. No other bag would ever suffice anyway. Not now.

At this point, you’d need a very strong friend to pull you out of the trance.

5. “I need to reward myself”

A real classic in the justification zone. The internal monologue goes something like this:

“I’ve been working really hard lately, and I’ve not treated myself in a long time. If I don’t treat myself now, I won’t feel like I’ve really got anything to show for all my efforts. If I don’t reward myself, who will? I earn money each month, I shouldn’t feel guilty about spoiling myself. And any rate, when was the last time I bought myself something over £300? Hardly ever.”

Hand card over to cashier. Pin. Receipt. Bag. Done.

The guilt will come later so enjoy the absence of it while it lasts.

The Giveaway!

We want to hear what your credit card guilty pleasure purchase. NatWest and I have teamed up to bring you A £50 John Lewis Voucher for the winner in the below competition. For the chance to win the competition, please use the widget and tweet us with your answer, or complete one of the other two tasks. Good luck!
a Rafflecopter giveaway

Emotionless Investment

Investing with a clear head

As mentioned in a previous post, one of the problems in investing is that people like to think of themselves as traders rather than investors.

You can't compete at the traders games

There are several problems with having a traders mindset when it comes to investing. In trading, share prices react to information extremely quickly. Arguably, the quicker you are able to access information and act upon it before the rest of the market, the more potential moneymaking opportunities exist. However, I'm almost certain that there are no individual investors out there who are able to gather more information and act quicker than investment banks, professional traders and other investment institutions. Simply, you can't compete at the traders game, so don't play it! 

Become a rock - cold and emotionless

The other reason why you should aim to move away from the trader mindset is because for most people it is a mistake to ever trade on instinct and emotion. The problem with emotions in investment is that it can lead to the individual making very rash decisions, encouraging to take the absolutely wrong course of action.

The great investor of our time, Warren Buffett's old adage was that we should be "fearful with the market is greedy and greedy when the market is fearful". The problem with emotion is that it encourages us to go against these wise words. It is emotion that excites investors into buying into a booming market and fear that panics investors into selling when prices plummet. Unfortunately, investors should be doing the exact opposite. A falling market is a buying opportunity and a rising market, a chance to sell and secure a profit.

All too often emotion gets in the way of rational decision making. When making your investments don't be a hotheaded trader. You may get lucky once or twice but you will eventually lose. The game is rigged against you. Instead, become a cold, calculating, calm investor, immune to the passions that cause ordinary folk to make mistakes. Be emotionless in investing.

Do you like what you've read? Tell your friends by sharing it with one of the buttons below. Please post this to Facebook or Tweet it to help your friends and family. Feel free to send me an email (mrmoneybanks<at>multimillionaireroad<dot>com), find me on twitter @millionairer0ad or comment. Whether good or bad, I want to hear from you all.


Information on this site is not appropriate for the purposes of making a decision for carrying out a transaction or trade nor does it provide any form of advice (investment, tax or legal) amounting to investment advice, or make any recommendations regarding particular financial instruments, investments, or products.
Always seek advice of a competent financial advisor with any questions you may have regarding a financial matter