"Simply not solvent!

tyllwyd

chevalier wrote: »

Ref the tax I refer you to my earlier post about deducting a set amount (doesn't have to be the whole tax) each time some cash hits the account from whatever source.....:D

every idea has its time
chev

The problem I find with the tax is that it is such a moving target - every time you get another cheque the bill changes, and if you are close to the tax & NI thresholds the percentage you need to deduct can change dramatically, and then you need to remember tax paid on account which might have been too much or too little. I like the idea of keeping it listed as a debt alongside all the others, so that you get a more realistic picture of where you really are - it goes alongside putting a bit aside out of every cheque, not instead of.

taxi73

Totally agree with that Tyllwyd...nothings the same from one week to the next especially when the expenses could be £500 per week for us and the icome varies so much.

Seaxwyn

My expenses are very few - mostly travel to meetings. I also claim a proportion of my home costs (following HMRC guidance I hasten to add).

I have it in mind that I should save 20% of all earnings - and then should end up with a little extra saved. The reality is I barely save anything, and then dip into savings when I hit a lean period.

This all must change and I can feel a new diary brewing. Things Taxi and Karmacat have written on their diaries have resonated with me. I never planned to spend my adulthood stuck in a suburb paying a mortgage. Life wasn't meant to be like this! I must get out of this rut.

And I've had an intriguing offer which has me wrestling with my conscience. I've been offered £800 cash to appear in an ad for Bernard Matthews!!! What would you do?

bandraoi

Maybe everytime you invoice you should think of it as only 80% of that amount. So if you're currently thinking I need to earn £100 at £20 an hour, then you should actually be thinking of it as £16 an hour.

Or if your client pays you £100 you need to think of it as £80 an hour.

Instead of thinking of it as saving 20% of earnings, think of it as earning 20% less than you do.

hypno06

Seaxwyn wrote: »

And I've had an intriguing offer which has me wrestling with my conscience. I've been offered £800 cash to appear in an ad for Bernard Matthews!!! What would you do?

Take it!!!

Bootiful :T

taxi73

Take it and put it in the tax fund...

ZTD

Seaxwyn wrote: »

And I've had an intriguing offer which has me wrestling with my conscience. I've been offered £800 cash to appear in an ad for Bernard Matthews!!! What would you do?

Just make sure you read the script carefully and it's a good one. You don't want to be appearing in any turkeys...

chevalier

Seaxwyn wrote: »

My expenses are very few - mostly travel to meetings. I also claim a proportion of my home costs (following HMRC guidance I hasten to add). Yes wouldn't want to be naughty:eek: with HMRC.

I have it in mind that I should save 20% of all earnings - and then should end up with a little extra saved. The reality is I barely save anything, and then dip into savings when I hit a lean period. I guess the thing to do is to put the money in an account you CAN'T get at eg one that has a months notice or something.

This all must change and I can feel a new diary brewing. Things Taxi and Karmacat have written on their diaries have resonated with me. I never planned to spend my adulthood stuck in a suburb paying a mortgage. Life wasn't meant to be like this! I must get out of this rut. Do you think a new diary would motivate you to be more efficient at getting work. Has your outlook shifted enough? And more importantly has your OH?

And I've had an intriguing offer which has me wrestling with my conscience. I've been offered £800 cash to appear in an ad for Bernard Matthews!!! What would you do?

Is this an ethical issue ie you don't like their product, think the way they raise their birds is cruel, or don't like taking money off big business? On the other hand, it would be a good start to your tax saving fund wouldn't it, or you could save half and spend £400 on the childrens xmas presents (ie have a present fund all there in place for you to spot bargains through the next months, or to get them a belated birthday present or something). Whatever you do I think you need to treat your children with some of it, rather than paying it all off the debt, as I know you feel really bad about how little they have got for birthdays this year. I guess I am saying do it in a very long winded way.

chev

chevalier

Hypno, Seax or Taxi could you do me a favour? Next time you are in the supermarket, could you look out for Alpro Soya Desserts? They will be in the free from section probably and come in chocolate, caramel, vanilla and berry flavours. (they aren't in the chiller section as they don't need to be kept cold). Reason being that I want to check how long their shelf life is. I am trying to get the local British food shop to stock them and them having a long shelf life would count in their favour. I have managed to get most things for DS1 but not found any desserts like these, nor any soya yoghurt (well there is but it tastes pants). If the worst comes to the worst I will get the inlaws to bring some when they come later in the year.

cheers
chev

Seaxwyn

Hi Chev, certainly I will have a look at the Alpro Soya Desserts. I once got given two big boxes by a health food shop because they had passed their sell-by date - don't tell your local shop that of course!

I despise Bernard Matthews and the type of 'farming' that he represents, debate has been raging here about whether we can lower ourselves (the whole family is required to be in the ad). And, I'm ashamed to say, we have come down in favour of the old arms dealer's excuse that 'if we don't do it someone else will', and trusting that our involvement won't have the least impact on BM's sales, we are putting ourselves forward. If we get it (and I was exaggerating to say we'd been offered it) I will give the kids £25 each and put £700 in the tax fund. I hear what you're saying about treating the kids, chev, but the tax bill is such a pressing worry it will definitely be socks for Christmas again this year!

Has my outlook shifted? I think so. I've had a gazillion lightbulb moments about the need to raise my game as a freelance or get a job, but I think finally I'm prepared to accept that I do have to change.

Whether OH's outlook has shifted, I can't say. There have been encouraging signs. But I cant wait for him, he may never change but I need to. So I will give myself a final week as a slacker and when the kids are back at school I will start a new diary (suggestions for a name welcome) and here's hoping you'll see a whole new me.