PMs hit hard in current market?

[OwlHoot]

In Jan 2001 minimum national wage was £3.70 ph (main rate just increased from £3.60 ph).

In Oct 2002 minimum national wage was £4.10 ph.

Source: HM Govt

Conclusions everyone makes for oneself according to ones character.

Huh?! So you're saying Not All There's rate halved between 2000 and 2001 because of her character? I guess the recession of 2001 couldn't have had anything to do with it, and she suddenly decided to become a crack addict.

[AtW]

Huh?! So you're saying Not All There's rate halved between 2000 and 2001 because of her character?

No.

What I am saying is that lots more people in this country have to live on real tulip wage (not always minimum but average salary I think was £24k pa) - this means someone who was on £75 during totally unjustified boom years of waste should not complain about going downt o £36 during downturn when many would earn 10 times less.

[cojak]

Ah, quite so...

But to most people it's the subjective rather than objective view point that wins every time.

That what personal progress (and contracting) is all about after all....

[AtW]

But to most people it's the subjective rather than objective view point that wins every time.

selfish shelfish

--

It is very dangerous for one to lose sense of perspective - £36 ph is a lot of money that most people won't have any chance of reaching during their lifetime (unless Brown stays in Govt for another term), this is especially so if there is a downturn and a lot of people lose their jobs.

Frankly any high rates during .COM boom of early 2000s were silly money and should have never been assumed as "normal" or something that would stay on for a long time.

[PAH]

Frankly any high rates during .COM boom of early 2000s were silly money and should have never been assumed as "normal" or something that would stay on for a long time.

Same could be said with expecting to be off the bench in such a climate (or maybe that should be weather, eh nick ).

As it is, instead of spunking all your money away when the times are good, build up the funds (or war chest as I think some refer it as), then having an enforced period on the bench is not such a big deal.

Something I've learnt the hard way after spunking all my money away in the past!

[AtW]

As it is, instead of spunking all your money away when the times are good, build up the funds (or war chest as I think some refer it as), then having an enforced period on the bench is not such a big deal.

That's exactly right.

I think the main problem with people who complain about very high rate dropping to still high rate (when lots of people out of job or in real bad jobs - out on street in cold weather doing some rubbish stuff for minimum salary, rather than sitting in a nice warm office eating pot noodles and wracking up those posts on CUK) is that those people increased their lifestyle costs to level that matched their temporary high rate assuming future rates will be the same or higher, WRONG!

[cojak]

That's exactly right.

I think the main problem with people who complain about very high rate dropping to still high rate (when lots of people out of job or in real bad jobs - out on street in cold weather doing some rubbish stuff for minimum salary, rather than sitting in a nice warm office eating pot noodles and wracking up those posts on CUK) is that those people increased their lifestyle costs to level that matched their temporary high rate assuming future rates will be the same or higher, WRONG!

I'm not saying that I disagree with you (as one with no mortgage or HP debts to worry about).

I would take a lower rate if nothing else turned up after a couple of months.

For a little while....

[PAH]

I think the main problem with people who complain about very high rate dropping to still high rate is that those people increased their lifestyle costs to level that matched their temporary high rate assuming future rates will be the same or higher, WRONG!

It's an easy trap to fall into.

Though many millions of people have increased their lifestyle costs on credit, which has much the same outcome.

[AtW]

Though many millions of people have increased their lifestyle costs on credit, which has much the same outcome.

Maybe prohibition of charging interest under Sharia law actually makes sense.

[Iron Condor]

Crickey - what did it recover to say in 2007 [early] ?

I was back earning 50ph in 2006. So never got back to 75ph. Although if i had moved over to architecture or mangement instead of development i might i have got back to 75ph. But i spent the time focusing on plan B rather than maximizing my rate.

My lifestyle never got so crazy that 36ph (about 65K a year) wasnt enough to live on.
So droping down from 75ph to 36ph never bothered me, it was the six month period of being out work that was hard as i had bought my first home a week before being out of work. Even in the boom times, some companies used to try it on and offer 40ph. So when the bust hit i initially rejected that level of work..

I quit contracting to do plan B in 2007. This year i averaged about a £1000 a day on plan B. But i still only live like i earn 65K a year. Next year i might make zero or i might make double what i made this year. But if you live well within your means then these downturns cant really hurt you.