Talking to a fellow contractor mate the other day. Gets about same day rate as me. He was taking delivery of his new Porsche. £90K or something like that - all on finance!
He admitted though that he spend most of his contract income (hes married with kids too) and has pretty much zero warchest..... Hes confident he can keep working and get new gigs. And he puts bugger all into his pension.
Seriously nuts if you ask me. Dont get me wrong, I spend my money on things I want - no point being the richest man in the graveyard. More important to me is my kids having things they want (like good holidays etc) and remembering it as they grow up. Also, Id like to have a warchest ulimately where I can pick and choose contracts.
And I thought I was flash doing this. (My cars a 10 yr old galaxy with 105k miles). Warchest could be better as could pension. Dear mrs PC doesnt buy expensive stuff but has a bit of a relentless spending habit for crap. Personally I hate spending money on crap.
Whats the rest of you approach? Spend it while you can or live like a monk and save it all?
He admitted though that he spend most of his contract income (hes married with kids too) and has pretty much zero warchest..... Hes confident he can keep working and get new gigs. And he puts bugger all into his pension.
Seriously nuts if you ask me. Dont get me wrong, I spend my money on things I want - no point being the richest man in the graveyard. More important to me is my kids having things they want (like good holidays etc) and remembering it as they grow up. Also, Id like to have a warchest ulimately where I can pick and choose contracts.
And I thought I was flash doing this. (My cars a 10 yr old galaxy with 105k miles). Warchest could be better as could pension. Dear mrs PC doesnt buy expensive stuff but has a bit of a relentless spending habit for crap. Personally I hate spending money on crap.
Whats the rest of you approach? Spend it while you can or live like a monk and save it all?
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