When faced with a cull.....

[neilmcl]

(you've summed up the vast majority of contractors and their prospects for the new year...! )

Only those who haven't followed the golden rule of only taking up contracting if you can afford to be out of work for periods of time. Maybe those who haven't considered this probably shouldn't be in the game in the first place.

[PM-Junkie]

If you have plenty of spare cash then great.

I am married with a less than one year old baby........

My favourte quote.... "a father is a man who has a picture of his kids in his wallet in the space that his money used to be"

[pmeswani]

Only those who haven't followed the golden rule of only taking up contracting if you can afford to be out of work for periods of time. Maybe those who haven't considered this probably shouldn't be in the game in the first place.

That is a bit harsh. Some peoples circumstances change during their time in contracting such as a new family member, a death in the family, or even a long term illness (either personally or a family member). By saying that you should be in contracting if you can't afford to be is a bit unfair. Not everyone is able to accumulate bag loads of money before and during their time in contracting.

[jim2406]

WHS

3 operations (1 not covered on my insurance, so had to pay) and many months of bench time during recovery have wiped out my rainy day fund

so, things aren't great.

having said that, i'd be in the same boat as a permie. hohum.

[AnthonyQuinn]

That is a bit harsh. Some peoples circumstances change during their time in contracting such as a new family member, a death in the family, or even a long term illness (either personally or a family member). By saying that you should be in contracting if you can't afford to be is a bit unfair. Not everyone is able to accumulate bag loads of money before and during their time in contracting.

I think 'afford' means having an appetite for risk rather than having loads of cash. Anyway, point is, 'Dont Crib'. Its a choice you made when you opted for contracting.

[MPwannadecentincome]

Some contractors who are like me, new to the game, are probably asking themselves if they came into the market at the right time, especially as work is starting to thin up. I am now faced with the possibility that I may have to go permie in order to survive.

I've been thinking of the same except that going permie means taking a very low salary as the salaries have dropped and the good jobs are 'on hold' - but then I suppose that is better than nothing if not in a contract, so I'm hoping my contract will keep going though I have to go abroad a lot.

[MPwannadecentincome]

That is a bit harsh. Some peoples circumstances change during their time in contracting such as a new family member, a death in the family, or even a long term illness (either personally or a family member). By saying that you should be in contracting if you can't afford to be is a bit unfair. Not everyone is able to accumulate bag loads of money before and during their time in contracting.

I agree - also add onto the list of reasons why people go contracting - like the permies who were made redundant...

[pmeswani]

I think 'afford' means having an appetite for risk rather than having loads of cash. Anyway, point is, 'Dont Crib'. Its a choice you made when you opted for contracting.

Unfortunately the word "afford" has many meanings... I didn't read the same way... But I accept your point... However, I do stand my ground in that people get into contracting by circumstances rather than by choice.

[YHB]

If you have plenty of spare cash then great.

I am married with a less than one year old baby........

Spare cash comes from being prudent no matter what rate you are on. If you are self-employed and have put holidays and high end prams and so on ahead of saving up a decent rainy day fund then only have yourself to blame.

I know plenty of young families with children where the guy is unskilled and in very low paid perm jobs and who maintain very tight budgets so no excuse to be honest.

[neilmcl]

I think 'afford' means having an appetite for risk rather than having loads of cash. Anyway, point is, 'Dont Crib'. Its a choice you made when you opted for contracting.

That's exactly how I meant it, sorry, I should have been clearer.

Like you say, it's all about being aware of the risks from the outset and making provisions when the times are not so good.