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MarillionFan
5th January 2012, 20:04
I've always been a little bit anal when it comes to planning the contracting year ahead. As much as I like to be a free spirit of capitalism I do have this rather OCD approach to meticulously planning my finances a year ahead.

I have just completed this years 'contracting calendar'. And with all plans I can only go to the end of the present contract and place a risk ratio on an extension for another 3 months.

For this I plan

1) All of the days presently guaranteed (green)
2) All of the days most likely based on renewal(orange) with a percentage of it taking place(75%)
3) Then I put placeholders for holidays(ie red - won't be available)
4) Then I put blue for 'expected days - either existing contract or a new one' with another percentage (25%)
5) Then I leave the rest unknown
6) A summary then calculates the days and an input is left for the 'unknown days' which I can input into.

I then place my expected take home rate after expenses multiplied by 70% in the take home column.

This then inputs into a rather complex spreadsheet of bank accounts, investments, other incomes(which may have a sheet of it;s own), interest, bills, taxes, average spending, costs of holidays, pensions, savings for kids etc by month.

I then key in different numbers into 6 for the days unaccounted for, which filters through and gives me the expected positions (worst case, average, best case) at the year end.

I then update this monthly all year based on the previous month and adjust accordingly.

Of the other contractors I know well, all do something similar. What does everyone else do???

AtW
5th January 2012, 20:09
Sounds like a lot of Lotus 123 malarkey.

MarillionFan
5th January 2012, 20:12
Sounds like a lot of Lotus 123 malarkey.

It comes from having a business and a sales background. Tell me you don't do a sales forecast and pipeline plan for the year and next.

AtW
5th January 2012, 20:12
It comes from having a business and a sales background

That's why you are always full of tulip :tongue

MarillionFan
5th January 2012, 20:15
That's why you are always full of tulip :tongue

"You must spread some Reputation around before calling AtW a cheeky **** again" :tantrum:

Doggy Styles
5th January 2012, 20:15
It comes from having a business and a sales background. Tell me you don't do a sales forecast and pipeline plan for the year and next.I don't. Now I feel inadequate.

AtW
5th January 2012, 20:15
"You must spread some Reputation around before calling AtW a cheeky **** again" :tantrum:

What's your sales forecast for sledges this year?

AtW
5th January 2012, 20:18
I don't. Now I feel inadequate.

Get a cool avatar to fit in.

MarillionFan
5th January 2012, 20:18
What's your sales forecast for sledges this year?

"Zero. But I have forecast £24 Million from my new 'Distributed Computing Project aimed towards building the largest search engine index on the Internet using Distributed Crawlers' company" - Minestrone.

AtW
5th January 2012, 20:20
"Zero. But I have forecast £24 Million from my new 'Distributed Computing Project aimed towards building the largest search engine index on the Internet using Distributed Crawlers' company" - Minestrone.

:eek

There is 2 and 4 in my forecast for next FY too! Also - £.

TimberWolf
5th January 2012, 20:32
And after all that the meticulous planing the Euro collapses and you have to eat potato rinds instead?

MarillionFan
5th January 2012, 21:40
Regardless of the shite posting from AtW.

How do people plan their year?

aussielong
6th January 2012, 05:16
I've always been a little bit anal when it comes to planning the contracting year ahead. As much as I like to be a free spirit of capitalism I do have this rather OCD approach to meticulously planning my finances a year ahead.

I have just completed this years 'contracting calendar'. And with all plans I can only go to the end of the present contract and place a risk ratio on an extension for another 3 months.

For this I plan

1) All of the days presently guaranteed (green)
2) All of the days most likely based on renewal(orange) with a percentage of it taking place(75%)
3) Then I put placeholders for holidays(ie red - won't be available)
4) Then I put blue for 'expected days - either existing contract or a new one' with another percentage (25%)
5) Then I leave the rest unknown
6) A summary then calculates the days and an input is left for the 'unknown days' which I can input into.

I then place my expected take home rate after expenses multiplied by 70% in the take home column.

This then inputs into a rather complex spreadsheet of bank accounts, investments, other incomes(which may have a sheet of it;s own), interest, bills, taxes, average spending, costs of holidays, pensions, savings for kids etc by month.

I then key in different numbers into 6 for the days unaccounted for, which filters through and gives me the expected positions (worst case, average, best case) at the year end.

I then update this monthly all year based on the previous month and adjust accordingly.

Of the other contractors I know well, all do something similar. What does everyone else do???

This is the most boring pile of rubbish i've read on CUK.

Do you apply the same principles to foreplay? Right, 3 minutes on the top, next wet fingers, 16 rubs. 5 minutes on inner thighs. She should be responding in exactly 30 seconds. ALERT ALERT. No response. No Response. ABORT ABORT

cojak
6th January 2012, 08:00
"Zero. But I have forecast £24 Million from my new 'Distributed Computing Project aimed towards building the largest search engine index on the Internet using Distributed Crawlers' company" - Minestrone.

Arf! :laugh

cojak
6th January 2012, 08:04
I balance my accounts at the end of every month and make sure I spend less than I earn.

My forecasting is to carry this forward until the end of the contract and keep looking at the market to assess the chances of this continuing for the next 6 months.

(Method also known as 'finger in the air').

Lockhouse
6th January 2012, 09:01
I've always got a pretty good idea of where I am financially without having to write anything down. I occasionally do a three month estimate going forward but this is always on paper. I arrive at a best\worst case figure and throw the paper away.

I always try to keep total drawings from the company at < 50% of gross.

Bacchus
6th January 2012, 09:06
I've always been a little bit anal when it comes to planning the contracting year ahead. As much as I like to be a free spirit of capitalism I do have this rather OCD approach to meticulously planning my finances a year ahead.

I have just completed this years 'contracting calendar'. And with all plans I can only go to the end of the present contract and place a risk ratio on an extension for another 3 months.

For this I plan

1) All of the days presently guaranteed (green)
2) All of the days most likely based on renewal(orange) with a percentage of it taking place(75%)
3) Then I put placeholders for holidays(ie red - won't be available)
4) Then I put blue for 'expected days - either existing contract or a new one' with another percentage (25%)
5) Then I leave the rest unknown
6) A summary then calculates the days and an input is left for the 'unknown days' which I can input into.

I then place my expected take home rate after expenses multiplied by 70% in the take home column.

This then inputs into a rather complex spreadsheet of bank accounts, investments, other incomes(which may have a sheet of it;s own), interest, bills, taxes, average spending, costs of holidays, pensions, savings for kids etc by month.

I then key in different numbers into 6 for the days unaccounted for, which filters through and gives me the expected positions (worst case, average, best case) at the year end.

I then update this monthly all year based on the previous month and adjust accordingly.

Of the other contractors I know well, all do something similar. What does everyone else do???


And then get unexpectedly benched, the boiler blows up, and the roof falls in

If you really plan to that degree (and I can't believe that even the contractor that I used to work with who had brightly coloured socks to match his brightly coloured shirts and who used to fax the canteen menu to his wife on a Monday so that she never cooked the same thing for his dinner by mistake, would do that), you need to get out more!

TimberWolf
6th January 2012, 09:11
Most heavily tagged thread of all time?

SimonMac
6th January 2012, 09:46
I balance my accounts at the end of every month and make sure I spend less than I earn.

My forecasting is to carry this forward until the end of the contract and keep looking at the market to assess the chances of this continuing for the next 6 months.

(Method also known as 'finger in the air').

WCS!

Mich the Tester
6th January 2012, 10:37
This is the most boring pile of rubbish i've read on CUK.

Do you apply the same principles to foreplay? Right, 3 minutes on the top, next wet fingers, 16 rubs. 5 minutes on inner thighs. She should be responding in exactly 30 seconds. ALERT ALERT. No response. No Response. ABORT ABORT

WHS

Mich the Tester
6th January 2012, 10:38
What is this "planning" of which you speak?

WHS too

Pogle
6th January 2012, 10:40
I just wing it - Its worked so far :D

ecc83
30th April 2012, 12:11
I'm bumping this as I've been searching the forum for recommendations on easy to use software (other than a spreadsheet, obv) for forward planning.

Does everyone still find the idea of planning so dull now that there's a point or so to be scored (alledgedly) in the business entity test for having a regularly updated business plan?

Eh? Eh? :banana:

MarillionFan
30th April 2012, 12:23
I'm bumping this as I've been searching the forum for recommendations on easy to use software (other than a spreadsheet, obv) for forward planning.

Does everyone still find the idea of planning so dull now that there's a point or so to be scored (alledgedly) in the business entity test for having a regularly updated business plan?

Eh? Eh? :banana:

They don't plan because they're all disguised permies innit.

scooby
30th April 2012, 13:20
I don't. Now I feel inadequate.

WHS. Why do you need it? Is it for the "Business plan" question in the new HMRC IR35 Risk test? :rolleyes:

nomadd
30th April 2012, 13:28
What does everyone else do???

Nearly 24 years contracting now.

With 0 days planning.

Planning to keep it that way.

Works for me.

Lockhouse
30th April 2012, 14:25
Nearly 24 years contracting now.

With 0 days planning.

Planning to keep it that way.

Works for me.

WNS

My ex once said of me "When you say you're skint you're down to your last 10K".

After 25 years contracting it's all instinct.

ThomasSoerensen
30th April 2012, 16:43
MF, why do you think you feel so insecure that you have to perform this ritual that aims for providing clarity and security but only eventually shows that the future of you is uncertain and full of self doubt. Was it your parents that did not show you enough love and affection?

MAN THE F.UCK UP AND GROW A PAIR!!!!

MarillionFan
30th April 2012, 16:46
MF, why do you think you feel so insecure that you have to perform this ritual that aims for providing clarity and security but only eventually shows that the future of you is uncertain and full of self doubt. Was it your parents that did not show you enough love and affection?

MAN THE F.UCK UP AND GROW A PAIR!!!!

Mmmm. Lotus 123 man I see.:eyes

nomadd
30th April 2012, 16:48
Was it your parents that did not show you enough love and affection?

You're working on the erroneous assumption that he actually knew his parents.

(Awaits standard troll reply of "I know your mother...")

ThomasSoerensen
30th April 2012, 16:50
More like "wad of cash in my pocket" type of guy.

The future is uncertain. No matter what you do it will not go exactly as planned. Learn to accept that and then you can learn to deal with it.

Did your "worst case scenario" include the collapse of Lehmann and the resulting panic? Thought not. Then the time is better spend making money than trying to predict the future.

nomadd
30th April 2012, 16:51
...time is better spent making money than trying to predict the future.

...because if you could predict the future you'd already be rich. ;)

MarillionFan
30th April 2012, 16:53
More like "wad of cash in my pocket" type of guy.

The future is uncertain. No matter what you do it will not go exactly as planned. Learn to accept that and then you can learn to deal with it.

Did your "worst case scenario" include the collapse of Lehmann and the resulting panic? Thought not. Then the time is better spend making money than trying to predict the future.

You have to plan the future so you can traverse the rocky path and take plans to avoid rockfalls along the way. Only a blind man enters a cave with Wim121.

ThomasSoerensen
30th April 2012, 16:55
You have to plan the future so you can traverse the rocky path and take plans to avoid rockfalls along the way. Only a blind man enters a cave with Wim121.

I disagree.
You have to stay agile enough to traverse an ever changing rocky path. And wear a hard-hat (cash buffer) if you are afraid of rock falls.

AtW
30th April 2012, 17:20
You're working on the erroneous assumption that he actually knew his parents.

I am sure he met the mailman.

:igmc:

AtW
30th April 2012, 17:21
I disagree.
You have to stay agile enough to traverse an ever changing rocky path. And wear a hard-hat (cash buffer) if you are afraid of rock falls.

You need to know the direction though, otherwise you'll be lost.

MarillionFan
30th April 2012, 17:36
You need to know the direction though, otherwise you'll be lost.

Contractors don't need direction.:tongue

AtW
30th April 2012, 17:52
Contractors don't need direction.:tongue

What a shame, I was ready to direct you just now to Bridgwater, just off M5 :fight: