HI! :-) Details of my current position. Please can you help?

[unixman]

@OP I would say yes, try contracting. There are risks (see above), but you seem to be in a position to handle them. However, I would build up more than 4k first. How many months can you live with zero income ? It sounds like only 2.

[fatboyslim]

You're a waste of time reading your replies to others. All you do is be negative towards other people.

What's the point?

I am new here like you, and reading many posts it does look like a lot of people are discouraging new contractors.
I am less worried about your two worries(because your rate will compensate for loss of income and contracting is not more involved than permanent as such, so its up to you to have a good work life balance), but about your 'warchest'.
So I would listen to the voice of caution. My suggestion will be to build up for 6 months.

Since you don't have any dependent, you are perfectly positioned to take risk.