How do I stop the spending - Renovating new house

[d000hg]

Don't agree with that. If you need your warchest you have done it wrong. Your story then goes on to re-enforce that. It is a warchest, not back up budget.

So when ARE you allowed to spend the WC?

[sasguru]

To answer the OP: get some Poles in and price per job, whatver they estimate for materials, double that.
Then you'll get a good estimate of total costs.

[bobspud]

You want to be able to enjoy yourself, take time off, feel rested etc... must be doing your head in!

It's no fun trying to take a few months off sat it a bomb site, i would rather blow the money and know that in one more year the only bills I will have is a mortgage, council tax and the gas bill.

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

[escapeUK]

It's no fun trying to take a few months off sat it a bomb site, i would rather blow the money and know that in one more year the only bills I will have is a mortgage, council tax and the gas bill.

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

Are you getting solar power, hence no electricity bill?

[Kelstar]

It's no fun trying to take a few months off sat it a bomb site, i would rather blow the money and know that in one more year the only bills I will have is a mortgage, council tax and the gas bill.

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

I have waited all my adult life and saved for this car - I'm telling you I am going to enjoy it!!!

Fair enough, good luck with the rest of the work. Will be worth it when its all done!

[rootsnall]

So when ARE you allowed to spend the WC?

When you are out of work.

[bobspud]

So when ARE you allowed to spend the WC?

That's down to your own risk aversion. I am hardly ever out of work so I tend to say stuff a big war chest for now and keep no more than a few months stashed.

Going forward I intend to save 6 months worth of money as a war chest then dip into that as I start my next contract on the basis that I pay the money back during the life of the contract.

[rootsnall]

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

I've never understood why anyone would ever buy a car on credit ?

[bobspud]

Are you getting solar power, hence no electricity bill?

I have a cunning plan m'lud

(Either solar or hydrogen generator)

[northernladuk]

That's down to your own risk aversion. I am hardly ever out of work so I tend to say stuff a big war chest for now and keep no more than a few months stashed.

Going forward I intend to save 6 months worth of money as a war chest then dip into that as I start my next contract on the basis that I pay the money back during the life of the contract.

I play it a litte more cautious than that tbh but still same principe. Blowing it on the first project that needs more money than I have is NOT the way to go... particularly I was in a gig at Barclays!!