£65k perm salary , £350 daily rate - Worth moving into contracting ?

[speling bee]

I'm 30 years old and I figure this is my chance to work hard to set my family up for life. When I have a 100k warchest and a few properties then I can think about starting to relax. As it is currently only 8 months warchest and 1 house .

Please don't have a stroke or heart attack along the way.

I take 10 weeks' holiday per year. Soon enough the little ones won't be little ones.

[NorthWestPerm2Contr]

Please don't have a stroke or heart attack along the way.

I take 10 weeks' holiday per year. Soon enough the little ones won't be little ones.

I do keep promising myself that I'll take a break at the end of next contract but I either get a rate increase or a better contract paying more comes along. Got lots of expenses like new Bathroom, new Garden and probably a new kitchen in a year or two as well. It is a difficult act juggling working with living when contracting but I have been lucky enough to be commuting for all of the last 4 years and next gig should make that 5 if I am even more lucky.

[northernladuk]

Poverty is a good motivator

LOL you would think so but swathes of the country don't seem to appear to share that thought.

[NorthWestPerm2Contr]

LOL you would think so but swathes of the country don't seem to appear to share that thought.

Problem is they are not viewing it as poverty. If they did then they would be motivated!

[speling bee]

I do keep promising myself that I'll take a break at the end of next contract but I either get a rate increase or a better contract paying more comes along. Got lots of expenses like new Bathroom, new Garden and probably a new kitchen in a year or two as well. It is a difficult act juggling working with living when contracting but I have been lucky enough to be commuting for all of the last 4 years and next gig should make that 5 if I am even more lucky.

I used to promise myself breaks between contracts but it never works out. I take 10 weeks' holiday per year within contracts. Much simpler to arrange.

[NorthWestPerm2Contr]

I used to promise myself breaks between contracts but it never works out. I take 10 weeks' holiday per year within contracts. Much simpler to arrange.

I can't take it when I look at the day rate x days off. If it is between contracts then it doesn't affect me as I don't feel I am "losing" anything. I have 6 working days off in July but I am considering cancelling that when I look at the day rate multiplied by 6.

[speling bee]

I can't take it when I look at the day rate x days off. If it is between contracts then it doesn't affect me as I don't feel I am "losing" anything. I have 6 working days off in July but I am considering cancelling that when I look at the day rate multiplied by 6.

So you booked the leave before you did the sum and now you've done the sum, you're going to cancel it?

I started by current gig at the end of Feb. So far I've taken:

1 week off over Easter.
3 days off over half term.
1 day off because I fancied it.

I've just booked:

1 week off in July.
2 weeks off in August.

I always take 2 weeks off for Christmas and will have a few long weekends as well.

Counting the opportunity cost of money not earned is not a recipe for a happy life IMO.

[TheFaQQer]

I used to promise myself breaks between contracts but it never works out. I take 10 weeks' holiday per year within contracts. Much simpler to arrange.

This.

My approach changed when I had a serious illness - once I came back from that, I thought "bugger this for a lark" and started to enjoy life more. That means spending time with my family, regardless of any financial "penalty" - if I waited until I was out of contract, I wouldn't have had a day off in years.

[kal]

I used to promise myself breaks between contracts but it never works out. I take 10 weeks' holiday per year within contracts. Much simpler to arrange.

Better to take holidays while in contract. I tried the taking holiday at end of a contract route but found that having to get the next role sorted is always at the back of your mind, means I didn't really enjoy my 2 weeks off. My plan is now to book holiday when in contract and to minimise bench times between roles.

[NorthWestPerm2Contr]

So you booked the leave before you did the sum and now you've done the sum, you're going to cancel it?

I started by current gig at the end of Feb. So far I've taken:

1 week off over Easter.
3 days off over half term.
1 day off because I fancied it.

I've just booked:

1 week off in July.
2 weeks off in August.

I always take 2 weeks off for Christmas and will have a few long weekends as well.

Counting the opportunity cost of money not earned is not a recipe for a happy life IMO.

I try to live in evenings and weekends and let the money role in. David Lloyd membership, spending without worrying in the weekend etc. I also like to help out family members and am happy to take that sacrifice if it means helping others. Currently been doing some extra work in evenings and weekends to help deliver a project as well as make extra money - all going to good causes. The reality is somebody has to earn the big bucks to help everybody else out, unfortunately it has fallen on my shoulders.