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Contracting - risk analysis
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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."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank... -
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Originally posted by DTexas View PostDear 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?"A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George OrwellComment
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Originally posted by DTexas View PostDear 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.
If UKIP are the answer, then it must have been a very stupid question.Comment
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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...)"I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by cojak View PostI 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...)
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.merely at clientco for the entertainmentComment
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I did say healthy dose, eek..."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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