Contracting - risk analysis - Contractor UK Bulletin Board

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cojak replied

15 February 2013, 09:03
I did say healthy dose, eek...
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eek replied

15 February 2013, 08:52
Originally posted by cojak View Post

I don't think so mos, his history tallies* (even if it is tinged with a health dose of self-interest) .

(*Of course this opinion can change...)

What's wrong with self interest?

And in answer to the OPs question. Everyone's circumstances are different so what is a liveable amount of money for one person is a weeks worth for someone else.

Oh and it will change based on location. I spend a lot less when working near home compared to working away.
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cojak replied

15 February 2013, 08:48
I don't think so mos, his history tallies* (even if it is tinged with a health dose of self-interest) .

(*Of course this opinion can change...)
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mos replied

15 February 2013, 07:38
Originally posted by DTexas View Post

Dear fellow contractors,

I am interested in modelling the risk of a contracting livelihood, with the aim of constructing a money management technique to help contractors keep solvent.

troll ??
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Paddy replied

15 February 2013, 07:33
Originally posted by DTexas View Post

Dear fellow contractors,

I am interested in modelling the risk of a contracting livelihood, with the aim of constructing a money management technique to help contractors keep solvent.

In order to do this, I wonder if you could volunteer some basic statistics about your way of life.

For example, on average how many working days a year have you been on a contract ?

What has been your % of take home pay in this time?

By what factor does your net take-home pay cover your living costs? e.g. if you have £40,000 take home net pay and your living expenses are £20,000, then this would be a factor 2.

This will help to establish what size of war-chest would be required to keep in cash form.

I am curious whether £16,000 would be adequate for a contractor. Could this keep you solvent for 6 months?

£16,00 per month is OK
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mudskipper replied

15 February 2013, 07:25
Originally posted by DTexas View Post

I am curious whether £16,000 would be adequate for a contractor. Could this keep you solvent for 6 months?

It would keep me solvent.

It wouldn't keep someone with a 2.5K a month mortgage solvent.

HTH.

Edit: Is the magic figure of 16K related to this?

Last edited by mudskipper; 15 February 2013, 07:30.
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cojak replied

15 February 2013, 07:17
I didn't move it honest!

Over to our esteemed posters I think

(I think DTexas will ask to borrow our watches next...)

Keeping solvent for many has nothing to do with income vs spend. I would suggest to some contractors not to be greedy, naive, and short-sighted enough to go for stupid advertising of some monetary products.
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DTexas started a topic Contracting - risk analysis

15 February 2013, 06:59
Contracting - risk analysis

deleted

Last edited by DTexas; 22 October 2014, 20:58.
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