Hypno's kick up the backside debt diary....

OliveOyl_2

Wow, looking at it as an annual sum is gratifying isn't it?

I too cancelled a cleaning lady (£30 pw down here) = £1500
Cancelled 2nd telephone line = £180
I'm going to look at that tonight, sir will be impressed

hypno06

It certainly is an eye-opener isn't it!! When added to the quidco money and matched betting money that I have got, it all equals about 3 months of my old salary! I can almost justify not going back to "employed" work!!!!

OliveOyl_2

3 months of your salary v 6 months of the year gone.....you've a little way to go but def. the right direction.

I remember reading an article that explained how it actually saved more than a salary to stay at home. But I think they cheated a bit, I never wore Jimmy Choo shoes.
So don't forget to add in the money saved on hair dos, office wear, leaving collections (I don't miss them!), travel, lunches and "treats after a stressful day at work"

se999

hypno06 wrote: »

It certainly is an eye-opener isn't it!! When added to the quidco money and matched betting money that I have got, it all equals about 3 months of my old salary! I can almost justify not going back to "employed" work!!!!

Good morning,

We've had a few times in the past when it's not been financially sensible for me to go back to work. Most people don't even do the sums when they decide to work. When we added up the costs of transport, clothes, childcare (at that time), there are also the extra bits and pieces like ending up with more ready meals etc.. We worked out it was better for me stay at home. That's without the benefit of extra time with children and OH.

Once we added on the savings we could make from 'my time' and also the things like the foreign students staying, the sums all added up.

Admittedly I'm looking into working again in the future, and thinking of retraining again but probably in Aromatherapy or something like that so I can be self-employed (then at least I can offset more of the costs against income before paying tax).

hypno06

OliveOyl wrote: »

3 months of your salary v 6 months of the year gone.....you've a little way to go but def. the right direction.

Ahh, but I am also earning, it is just that being self employed it is often "all or nothing". So for example last week I was rushed off my feet with clients, this week I have far less.

OH sees quiet weeks like this as a disaster, but combining them with the savings above I think I can justify not having regular salary etc.

Also, as you and se999 say above, the extras that we save such as the daily latte (or two), leaving & birthday collections (don't miss those at all), Friday cakes (do miss those ), suits and my biggest expense - TIGHTS!!!!!, all add to the expense of "working" that I used to have.

All expenses that I now have are offset against tax :T

OliveOyl_2

Child care costs :eek: :eek:

On the other hand, you want the best for your little angels......

My children are beyond that (late teens & 20's). But I found as a single mum the worst time was after they were 10 or so and in the summer holidays would not go to a childminder (full of toddlers & babies).

se999

Just remembered the weekly dry cleaning bills :eek:

hypno06

The deli down the road from the office...........:o

Seaxwyn

I wish I could join in this conversation but I've been freelance too long to remember really. I never had money problems when I had a job, but then I didn't have children or a mortgage either.

One huge downside with being self-employed is tax. Hypno the fact you have never mentioned this makes me anxious. Are you saving for tax? As you will be hit by a large bill sometime soon. Tax is what got me into debt in the first place and what makes it really difficult to get out.

Storm

Also Hypno, you've said before how much happier & less stressed you are working for yourself, so think how much you've saved in 'comfort' spending!