Scratchcard are not good investments

Scratchcard are not good investments

Now it might sound obvious but scratch cards are not good investments, however, we’re sure you’ve always wondered if you purchased a load of them how much you would make.

So we gave £1000 worth of scratch cards to Josh (after he won a competition we ran), after 5 hours of scratching he walked away with a total of £630….. so a total loss of £370 from the original £1000 however Josh still walked away with £630 more that he had at the beginning of the day.

Well done to Josh.

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Important things to remember with everything we post:

  • If you earn over your personal allowance (currently £12,570 a year) HMRC need to get their % cut (even if the money is in cash or from another country)
  • If you’re working for yourself / earning an income on the side you need to let HMRC know – There are numerous benefits but also some drawbacks
  • You need to always ensure whatever you’re doing is legal and not hurting anyone else – be careful and always think twice
  • Some income streams may require you to have DBS check, licence, insurance or qualifications before you can start to profit from it, do your research.
  • Be careful that any additional income doesn’t compromise your studies or main income/job
  • If you work for a company check your contract, if you don’t inform them you’re working on other side projects outside of work they may have grounds to ownership on this work

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