How Do I Build A War Chest

[Oscar10]

I am hoping for some advice on building up a war chest. In permie land I was never one for saving. First invoice should be paid to MyCo Friday and would like to start as I mean to go on.

Perhaps the answer is simple, just leave cash in the company account to cover quiet periods on the bench. I just don't know???

[eek]

hth

This isn't general you know.

My advice would be keep your spending to what it used to be apart from clearing debts. Then once you've got 6 months of expenditure saved up you can think about spending more.

[SimonMac]

Earn more than you spend, simples!

[Oscar10]

Thanks, sorry Mods, thought this was the correct place to ask.

I thought advice might include taking dividends and putting into ISA etc.

[kingcook]

hth

You need to change your sig - the video has been removed from youtube.com. Where can i make a complaint?

[northernladuk]

Jesus Christ. People that ask questions like this shouldn't be allowed to
run a company.

[Oscar10]

Jesus Christ. People that ask questions like this shouldn't be allowed to
run a company.

Thanks.

[Jessica@WhiteFieldTax]

I'ld be inclined to split things:

~ leave a reasonable slug of free cash in company. Is there if you are on the bench then, and, if you are into 40%, you get a deferral.

~ get some out into a ISA. Cash ISA if its short term, Stocks and Shares ISA if you can envisage leaving there for a few years.

But ultimately it's about discipline, and not spending everything... But you knew that...

[northernladuk]

Thanks.

Your welcome. Running a limited company means you are legally responsible for that companies finance and that means making a decision on how the money is accounted and distributed. If you can't understand what the best way to saving it is how can your run your business? It isn't about following a process manual, it's understanding what is best for you and the company an being responsible enough to stick to that.

[muser]

Earn more than you spend, simples!

Spend less than you earn, logic dyslexic!