Can you afford to go perm or inside IR35?

[northernladuk]

You think your lifestyle isn't inflated.

Anyway get the butler to go to MSE and learn how to save money in things you don't need to spend a lot on.

FTFY

[Lance]

and if you’re married you control the finances.

This is not legal, nor good advice.
It could well cost more in the long run.

[Fraidycat]

You think your lifestyle isn't inflated.

Anyway go to MSE and learn how to save money in things you don't need to spend a lot on.

My expenses are 3000 excluding the mortgage.

I can see how I could save £500 by cutting back on some of my excesses.

That means i could cut non mortgage expenses to £2500.

I cant see how i can maintain a house, 2 cars and 5 people on less than £2500 a month.

Believe me, when i say i grew up in poverty, and i know how people who have a family get by on much less than that, but it isnt
healthy.

[Antman]

Trouble with Money Saving Expert is that besides the motto (which I fully agree with) there's not much else. The tips require too much time for the amount of money they save. One of their staff was able to find a cheaper London to Newcastle train ticket by having a 3 hour wait over in Rhyll, well whoopy-do!

[ladymuck]

Trouble with Money Saving Expert is that besides the motto (which I fully agree with) there's not much else. The tips require too much time for the amount of money they save. One of their staff was able to find a cheaper London to Newcastle train ticket by having a 3 hour wait over in Rhyll, well whoopy-do!

Well, if you have time, then you can travel cheaply.

Saving money to the extent of FIRE or MSE is very time consuming. I read their emails to see if there's any quick fixes and for things to look out for but I'm not going to spend hours searching for a new car insurance quote if the renewal offer is cheaper than what I paid last year. That's a lot of policy conditions to read to ensure I'm actually comparing like for like.

[SueEllen]

Well, if you have time, then you can travel cheaply.

Saving money to the extent of FIRE or MSE is very time consuming. I read their emails to see if there's any quick fixes and for things to look out for but I'm not going to spend hours searching for a new car insurance quote if the renewal offer is cheaper than what I paid last year. That's a lot of policy conditions to read to ensure I'm actually comparing like for like.

You just reminded me that some people are slow readers.

[eek]

Trouble with Money Saving Expert is that besides the motto (which I fully agree with) there's not much else. The tips require too much time for the amount of money they save. One of their staff was able to find a cheaper London to Newcastle train ticket by having a 3 hour wait over in Rhyll, well whoopy-do!

Oh what train is that?

Years ago (20+) there used to be a London to Newcastle train on a Sunday via Manchester and from memory Carlisle. We used to catch it for the change of route as it's nice to see scenario you don't otherwise get to see and to see the look on the guards face as they checked the ticket (the route was for movement purposes and people weren't really supposed to travel on it).

[Fraidycat]

Well, if you have time, then you can travel cheaply.

Saving money to the extent of FIRE or MSE is very time consuming. I read their emails to see if there's any quick fixes and for things to look out for but I'm not going to spend hours searching for a new car insurance quote if the renewal offer is cheaper than what I paid last year. That's a lot of policy conditions to read to ensure I'm actually comparing like for like.

When you only earn £8 per hour, spending 6 hours of your spare time to save £200, might be a good idea.

When you are contractor earning £70+ an hour it doest make the same sense.

[Antman]

When you only earn £8 per hour, spending 6 hours of your spare time to save £200, might be a good idea.

When you are contractor earning £70+ an hour it doest make the same sense.

Yes, that's my point. The train example I just made up but I remember seeing something similar about one of those bods being able to spend an afternoon in Frankfurt airport for the price of a return train ticket somewhere. The site's heart is in the right place but if time is what you don't have then most of their advice is of no use.

[coolhandluke]

Having recently gone perm and taken a circa 45% deduction in my gross income, 30% net when you factor in holidays and pension, I thought I'd add my thoughts.

When contracting I tried to keep my expenses down to match a decent dev salary in the Midlands so the drop is manageable.
However, I'm finding the main difference is those one off large purchases hit me a bit more. Things like a new TV or holiday which I would just have simply bought when contracting I'm now looking to see if I can afford it.

As a result the plan is to use the next 12 months as a perm to re-skill into a high demand area. Current thinking is AI - Big Data Engineer with Cloud Migration. Couple of Azure Certs, along with Data Bricks, Snowflake and MuleSoft.

Had the opportunity 3 years ago when working in a role doing just that to cement my skills but didn't take it due to being offered a decent day rate for a new gig in C#.

Should really be typing this into my new permie 'personal development plan'