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???

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???