Hi all,
I know this has been discussed quite a lot times, but I could not find a specific answer to the question. So here goes my situation.
I was a permie till early this year, and was fed up with all the bad things that comes along the permie role. There were few good things, but they really were so meagre after 3 years in the same company, that I thought it was the time to call it a day. I was not sure of contracting as an option and was actively looking in the permie world.
Then this particular agent comes into the scene, and somehow manages to convince me to get on this contract. The contract so far is good, and I am already enjoying the life in this new world. Now the invoices have started to come in, and I am seeing the increase in the money in my bank. This is where I think of this word "Warchest" coming up in the forum.
My question is "Is there a level which most of the contractors think is bare minimum for warchest?" I know the terms here have been like 3-6 months, but I am in a phase of upgrading my lifestyle from that of a permie to that of a contractor, but really want to build up on the savings first, so I am not sure what is the sizeable amount.
I was thinking of keeping the same lifestyle for first few gigs, and build up considerably, and then think of what money have I have got to spend on what?
Any ideas please?
I know this has been discussed quite a lot times, but I could not find a specific answer to the question. So here goes my situation.
I was a permie till early this year, and was fed up with all the bad things that comes along the permie role. There were few good things, but they really were so meagre after 3 years in the same company, that I thought it was the time to call it a day. I was not sure of contracting as an option and was actively looking in the permie world.
Then this particular agent comes into the scene, and somehow manages to convince me to get on this contract. The contract so far is good, and I am already enjoying the life in this new world. Now the invoices have started to come in, and I am seeing the increase in the money in my bank. This is where I think of this word "Warchest" coming up in the forum.
My question is "Is there a level which most of the contractors think is bare minimum for warchest?" I know the terms here have been like 3-6 months, but I am in a phase of upgrading my lifestyle from that of a permie to that of a contractor, but really want to build up on the savings first, so I am not sure what is the sizeable amount.
I was thinking of keeping the same lifestyle for first few gigs, and build up considerably, and then think of what money have I have got to spend on what?
Any ideas please?
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