How I updated my Drupal site from Drupal 5 to Drupal 7

After many attempts and learning curves I managed to update my Drupal site which was originally built in Drupal 5 to Drupal 7. Due to the my learning curves, late nights and lots of backing up my data and database, I would like to share with you how I managed to update my site that has many contributed modules, had been updated numerous times and to also congratulate Drupal and it community on how future proof Drupal really is.