As a contractor do you sometimes lose perspective when it comes to money?!

[Bunk]

Are you of irish decent? The only people I know who carry that amount of cash around are travellers.

Or Mario Balotelli

[kingcook]

I have noticed a difference between permie pay and contractor pay.

When a permie i'd piss around trying to save a few quid per month by changing gas/elec suppliers, or swapping broadband provider, etc.

Spending a few quid extra doesn't bother me anymore. I feel like i'm in a different world to other people around me, constantly seeing people wooing at something because they've saved a couple of quid by shopping around. It's not worth the hassle for me.

I guess it's all relative though, the more money one has the more hassle it is to shop around.

[vetran]

Spending a few quid extra doesn't bother me anymore. I feel like i'm in a different world to other people around me, constantly seeing people wooing at something because they've saved a couple of quid by shopping around. It's not worth the hassle for me.

Think that was the point of the question.

OK I'm a reasonably well paid permie so I don't worry too much about a few quid but we don't have £600 to spend on a meal.


I have had 4 parking tickets in my life, 3 for overstaying on a meter and 1 for feeding the meter.

2 were overturned on appeal because I had factual evidence that I hadn't overstayed. The traffic wardens had ...... LIED!!!!!!

1 was because I was locked into the DOT and couldn't move it.

the last they got me bang to rights, despite moving bays and paying for parking at another free meter I had fallen foul of the small print you can only stay 2 hours in one street even if all the meters are empty and there are 20 minutes to go until the restrictions expire !

That was 20 years ago in London, I got those 4 tickets in 2 years. I haven't had any since.or in the 10 or so years before.

so I sympathise with the Porsche driving contractor.

[Scrag Meister]

My wife laughs at the spreadsheets I maintain for keeping track of personal money, business money, mortgages, loans to my kids etc....

Its all proportional, when I was perm, £80 was a lot on a meal, when you are a contractor it's only an hour's money.

The wife still can't understand why if I have ten of thousands in my business account I can't get the patio and the boundary wall done NOW!!!

Tried explaining tax effiiciency but she didn't really get the idea.

[SimonMac]

My wife laughs at the spreadsheets I maintain for keeping track of personal money, business money, mortgages, loans to my kids etc....

Its all proportional, when I was perm, £80 was a lot on a meal, when you are a contractor it's only an hour's money.

The wife still can't understand why if I have ten of thousands in my business account I can't get the patio and the boundary wall done NOW!!!

Tried explaining tax effiiciency but she didn't really get the idea.

I think I see where you problem lies

[lukemg]

This is massive for me. First spell of contracting, got used to the money, not huge amounts but enough so never really had to think about meals, hols or even nice cars. I was stashing some too but not enough and when the ass fell out of it it was so grim to be back looking at the cost of everything.
Now I am back in the game and REALLY appreciate the position I am in. In addition, my main priority is to insulate myself from ever struggling again so I am warchesting like mad because that is a great luxury for me.

[vetran]

The wife still can't understand why if I have ten of thousands in my business account I can't get the patio and the boundary wall done NOW!!!

Tell her to pay it out of her allowance or her earnings. That way she can get exactly what she wants!

works for me, if I want it done it gets done, if she wants it done she pays & organises it, she also pays for upkeep.

[Kelstar]

I'd say I've definitely not lost perspective about money, but what I realised recently is that I had completely forgot what it was like to worry about money. I had a really vivid memory a few months back, opened up and old budget spreadsheet I used to use when I was a trainee to track my money and the feeling of anxiety came flooding back.

I'd say I'm quite sensible when it comes to my contract money and have worked hard to pay off debts and build a good years warchest, had a few holidays, treated my family to new things such as that coat my mum had been looking at and the such like. Just ordered myself a new car, but done things step by step and made sure my monthly outgoings stay below a certain amount so that I don't have to worry. I'm currently looking at moving house, nothing flash just somewhere bigger and closer to town, but I would never have been in this position this quick if I hadn't been sensible. There is a lot to be said for taking the advice on these boards and that of my experienced contractor friends.

I have a friend who's just got into contracting in the marketing field. She's already bought a new Chanel bag and an Audi TT and she's 2 months in..... I've tried to give her some advice but now just keep my mouth shut. I can see she is going to learn the hard way...

[NorthWestPerm2Contr]

I was rich when I was renting. Now I bought a house, money just flies out of the window. I have gone down from 18 months warchest to 4 months in the space of a few weeks.....

[escapeUK]

I have a friend who's just got into contracting in the marketing field. She's already bought a new Chanel bag and an Audi TT and she's 2 months in..... I've tried to give her some advice but now just keep my mouth shut. I can see she is going to learn the hard way...

No point giving women any advice, she will do what she wants, and shes worth it.