As I have more time on my hands today, I thought i'd blog a bit more about the reasons behind this challenge and what I hope to gain from it. Obviously an extra £20k in my bank account at the end of the year would be wonderful, who would turn that down? But in all honesty, if I end up in a reasonable amount of profit at the end of the year, say £2,000, I would be more than happy. As a novice gambler I have no idea whether these expectations are realistic or not, but as the famous saying goes "you've got to be in it to win it", and for the sake of £200 i'm willing to take that chance.
So what will I do with the money if I end up being successful? Well the answer to that question goes hand-in-hand with my reasons for beginning this venture. Just over a year ago, I bought my first house with my partner for an extortionate price. Anyone whose been half awake for the last few years will be aware of rising house prices right across the UK and the constant speculation about how much these would continue to rise (or possibly fall). So 14 months ago myself and my partner (shall we call him Mr 20k - yes for those of you who haven't read my profile I am a female ; ) ...) decided to bite the bullet and get our feet on the property ladder. We managed to get ourselves a modestly sized house, nothing fancy, but after years of renting, it was the first place that we felt we could really call home. As you can imagine this set us back a rather large amount of money and despite both being in relatively well paid jobs, we still had to take out a 35 year mortgage to ensure that we could manage the payments if the unexpected happened.
This is where the 20k Challenge comes in...I'm hoping to put any profits I make from this challenge towards our mortgage to drive down the amount that we owe. So fingers crossed that it will be a success, however big or small.
Just a very quick update on the weekend's racing results. Admiral Dundas brought me my first winner on Saturday and a nice profit of £6.50, while Mujamead won at Wolverhampton today bringing a profit of £6.00.
Weekend profit: +£12.50
Total profit: +£49.00
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2 comments:
Good luck. It certainly can be done I having a good spell the last few months and long may it continue.
Thanks for your comment Brian. I'll keep checking your blog to see how you're doing and will hopefully pick up some useful tips along the way. Best of luck with your betting!
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