What is your long term saving strategies?

rictus123

bodmil wrote: »

I must admit I thought more about training in project management, engineering or architecture? In many cases a good company will support extra training for example with evening classes and project support so really the risk is not as high as for example quitting to go to university for three years. At 19, with no mortgage or children, there's no better time to take a leap up the career ladder. Even labouring in a different environment such as foreign projects or offshore could triple your pay with few extra qualifications required.

Care to expand further with more advice on the bit in bold? This does really appeal to me. Evening classes would be my best bet i can imagine as if i can keep doing my job theres no reason i can be progressing on that front as i learn. Im going to look into furthering my career. Id be happy doing this job for myself in 10 years time, but not someone else. There is a cap to how much i can earn doing this job, without starting up on my own and taking on others.

Accountant_Kerry

If you are wanting to start your own business I would suggest some training in this area, to include business start up, book keeping etc. You can emply people to do this for you but you really need a basic grip yourself. The subject would be business administration.

Also project management is another good one as well as soem additional building skills apart from bricklaying.

rictus123

Days like today at work really make me wish i worked on my own. One thing i thought about doing was learning how to do roofs and plumbing, maybe some electrics and start up as a firm doing conservatorys and exstensions and garages. I could do from the digging at the start right through to painting it and even carpeting the floor.

Accountant_Kerry

I wouldn't try to do everything as a one man band, you will be better off learning some trades employing others when needed (i.e. sparks amd gas fitters) running a business isnt easy you need to learn the skills for this.

The area of building you are talking about is mega competative, for example would you have any clue how to price up a job? and remember you may have to price up 10 jobs for every one you actually get to do and pricing up can take 1 - 2 days.

rictus123

I agree with the opening paragraph, i would take on and learn from the qualified ones then start to do it myself gradually as i picked up how to. Sorry Kerry but i disagree with the last bit. Pricing up a job wouldnt take 1 or 2 days. It would take an evening if that. My boss charges £28,000 for a 16m2 conservatory. I would be suprised if it costs him near £20k for building it.

Accountant_Kerry

I have 2 close friends who run these sort of firms and including travel to the site, discussing with the customer and pricing the job is easily a days work + for an extension admittedly probably less for a conservatory or garage. Baring in mind working out how much labour, what materials, checking suppliers for the cost of the materials, drawing up a professional tender document etc etc

So from the sounds of it you will become part p and gas safe qualified in the future? Out of interest if you are going to be doing all the work in the long term then whos going to run the business? surely the aim shoule be to do none of the work yourself and just run the business? You don't have to necessarily be a builder to run a building company you just need good people working for you.

rictus123

Well iv asked for a payrise at work. Not due one until the summer but thought id be cheeky and ask now. I do feel i deserve it. My boss is happy enough to give me one. I think hes going to give me a little one now then another after xmas....that extra pennies will help though. Its definatly time for me to get some serious savings on the go and watch my balances grow! Im defo not keen for wasting my hard earned on drink,taxis and kebabs now like iv been doing the past few years.

Might post up an soa soon and see whats what. Need some ideas of what i can do on a Sunday to make a few pennies. Even £25 a Sunday is £100 a month extra and i can build on that....any ideas?

I will probably be able to work the odd homer on a Sunday, taking in around £100 a day on average day, but not every week. Will just have to see how it goes.

Accountant_Kerry

Sundays, regular car boot sales, either working at or selling stuff or a shop job?

If you have trouble saving I would suggest puttign money each time you get paid into a non-instant access account that way you can't withdraw it on a wim. Also if you are going out for a few beers NEVER take your debit card / credit card, only take cash.

rictus123

Hmm i dont think id be too keen on car boots! Yeh iv had a little recently but paid £7.5k for a really nice car. I dont go out that much and when i do i only have a few pints, dont get blootered anymore its such a waste of money and the next day is a complete write off, where is the fun in that. Im ready for 7 day weeks making serious money. I have a santander account which pays 5% upto £2.5k...so looking to have that over and above that soon as a short term goal.

I am paying off car insurance (about £1,000) next month...then il have £400 a month expenses and thats my lot. So i should really manage to save £1,000 a month. Im away to start doing a couple of homers on weekends so that should take in an extra £1,000 or so by xmas. Il use this as my diary and let use know how im getting on and what im upto.

rictus123

Well its payday Friday...some of it will be going straight back out though! Iv put word about im looking for more work on weekends etc and iv had a few people say they have jobs coming up for me that they want me to price up for them..so should hopefully manage to take in an extra few hundred every few weeks. Will see how it goes over winter but hopefully make an extra £150 a weekend. Im getting really serious about paying myself first and not fluttering away all my pennies. I work hard for my money, im going to make it work for me. First aim is get totally debt free. All cards cleared. The aim is have that done + £2,000 in the bank by xmas. Very realistic aim for me and will set me up for a fantastic year of earning/working.


There really will be no stopping me. Away to watch property ladder tonight i think Love programmes like that!