Divi's - to spend or not to spend - Contractor UK Bulletin Board

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Bluebird replied

15 August 2007, 11:35
drugs & women
Leave a comment:
Zorba replied

15 August 2007, 11:13
Definitely can't support the buffer suggestion enough - I try and keep a year's living around. Don't want to have to panic and take a naff contract.
Leave a comment:
Ruprect replied

15 August 2007, 10:59
Originally posted by Lockhouse View Post

The contracting market is due a slump. Reduce fixed costs first; mortgage etc, get yourself a 10 or 20K float to cover you for when things aren't going so well, invest as per TazMan's post.

Wise words. Always have a buffer.
Leave a comment:
Lockhouse replied

15 August 2007, 10:55
Originally posted by youngguy View Post

I'm just starting to look at options for where to put (savings, investments etc) my first year's divi's and just wondered what most people did with theirs - fast cars and women, houses and pensions or somewhere inbetween?!

The contracting market is due a slump. Reduce fixed costs first; mortgage etc, get yourself a 10 or 20K float to cover you for when things aren't going so well, invest as per TazMan's post.
Leave a comment:
ChimpMaster replied

15 August 2007, 10:27
Pay off mortgage / debt (not that you should have any if you've been contracting for a few years already)

Buy Maxi-ISAs - Asia / BRIC / Middle East (UAE/Dubai)

FTSE 100 stocks with good yields - Lloyds/Barclays/HBOS/GSK for example

National savings certificates - tax free up to 30k, i.e. 15k per issue

Premium bonds - again tax free but only worth it if you put in max 30k

Cash in high interest account
Leave a comment:
chicane replied

15 August 2007, 10:05
Originally posted by youngguy View Post

I'm just starting to look at options for where to put (savings, investments etc) my first year's divi's and just wondered what most people did with theirs - fast cars and women, houses and pensions or somewhere inbetween?!

You need to stash away some money for your old age, unless you think that the current generation of young pikeys are actually going to massage the economy enough to give you a state pension.
Leave a comment:
TheFaQQer replied

15 August 2007, 10:00
Originally posted by youngguy View Post

I'm just starting to look at options for where to put (savings, investments etc) my first year's divi's and just wondered what most people did with theirs - fast cars and women, houses and pensions or somewhere inbetween?!

Offset mortgage. Get rid of the debt first, then go spending.
Leave a comment:
youngguy started a topic Divi's - to spend or not to spend

15 August 2007, 09:15
Divi's - to spend or not to spend

I'm just starting to look at options for where to put (savings, investments etc) my first year's divi's and just wondered what most people did with theirs - fast cars and women, houses and pensions or somewhere inbetween?!
Tags: None