War chests

[Turion]

But at least there are quite a few of us!

At least you chose a suitable Pseudo Name.

Code monkey or whatever, you are certainly not a squirrel, more like a spendthift. Lets face it, you were spending way more than a permie doing your role would earn/spend. You bet that your good rates of the last few years would go on forever.

Now some money saving advice: You can save some money by cancelling that garden party at your big nice hice Have garage sale instead

[Platypus]

I'm hearing words like 'large mortgage' and 'School fees', from people who are basically self employed code monkeys living on the edge.

Many of you are financing aspirations rather than foundations. As a contractor you should live on a permy income and invest any excess for the future (be it bench or retirement funds or a business venture)

If you do anything else then you are on a road to ruin. Good luck keeping up with the Jones.

Wise words - I have no war chest due to enormous school fees in the past. Sending the kids to private school was certainly a grave error on my part. But it wasn't about keeping up with anyone, it was about trying to make the right choices for my family.

Nevertheless, if I could wind the clock back, I would undo that decision. I've realised that how well your kids do at school is mostly down to them and not the school itself.

[pzz76077]

Im not surprised that the HMRC see you all as disguised employees......

IR35- tailor made for all of you.

PZZ

[Mr Crosby]

Im not surprised that the HMRC see you all as disguised employees......

IR35- tailor made for all of you.

PZZ

What's IR35?

[pzz76077]

What's IR35?

You get the message.

PZZ

[SillyMilly]

You can save some money by cancelling that garden party at your big nice hice Have garage sale instead

What on earth are you on? Garden party? Big hice? You can't even spell either!! Oh sorry - you were trying to be witty............

Just carry on blethering away about things you have no knowledge of - at least it's mildly amusing reading your piffle.

Like Platypus, we chose the school fees route with the interests of the family foremost. Unlike him, we consider it money well spent.

On the positive side - looks like I'm off the bench soon, so time to replenish the warchest!!

[MPwannadecentincome]

Warchest is completely empty apart from a few 20p pieces waiting to be checked for dates.

The reason(s) are very simple ...... kids, school fees, cars, uni fees and a mortgage large enough to house said kids, cars, etc.

Had hoped to fill the war chest over the last few/next few years ........... amazing how plans can go awry......... thanks, Gordon.

We are just scraping by but it's still nerve-wracking so feel for those who are depending on one income.

Also life is very dull without any spare cash

WHS (3 young kids, wife not working)

[MPwannadecentincome]

I'm hearing words like 'large mortgage' and 'School fees', from people who are basically self employed code monkeys living on the edge.

Many of you are financing aspirations rather than foundations. As a contractor you should live on a permy income and invest any excess for the future (be it bench or retirement funds or a business venture)

If you do anything else then you are on a road to ruin. Good luck keeping up with the Jones.

I'm not a code monkey - I'm a Programme Manager having to work as a Project Manager / Development Manager / Business Consultant.

Financing aspirations - have you seen the state of the school system?

contractor living on permie income - my current rate puts me at about 15% less than what I earned as a permie, plus I no longer have any pension contributions, private health, job security etc.

road to ruin - maybe, the alternatives - we thought about emigrating, started looking at New Zealand - see other recent thread on that!

[MPwannadecentincome]

Would go further than this- there are jobs for all of you tomorrow if you have the balls to make that leap.
How may of you have called everyone you have ever worked with or for today and asked if they know of any work in your line??

Forget Jobswerve this is just for niche skills and ICT's and hit the phones.

How much double gazing was sold waiting for some punter to call??
No, proactive calling and knocking on doors is the answer. You are running a business after all!

PZZ

I'm doing that now - have rather a long list to email / phone - but have built up the list in linkedin.com and I am networking - nothing has come through yet - but some short term assignements are in the pipleline - if the budget is approved.

Now some money saving advice: You can save some money by cancelling that garden party at your big nice hice Have garage sale instead

We already cancelled the garden party, the summer holiday and hardly ever eat out - I would love to have a garage sale, however with 3 young kids running around all day its easier to take the stuff to the charity shop or dump.

[MPwannadecentincome]

Nevertheless, if I could wind the clock back, I would undo that decision. I've realised that how well your kids do at school is mostly down to them and not the school itself.

I think there is some truth in this - have not been able to persuade the OH yet, however the state of the finances may soon make this decision for us.