Moving forward and upwards

MovingForwards

To do list for this week:
- add price list to SM
- write bio for SM and insurance listing 
- combine nail equipment
- tidy away spares
- colour my hair
- add training manuals to folders 
- client visit (Fri)
- lash apt (Fri)
- start workshop learning 
- pop to 2nd home
- buy folding bed

~FlowerPot~

MovingForwards said:

Thanks SH, FP and Skinty


It's a free business account. A savings pot with it pays interest and I also get some form of accounting software for free too. Can't pay in cheques, but I could do that via my normal accounts and transfer the money over. I just wanted a total separate account to keep business income / outgoings for ease.

What's the charges for card payment as I think that might be useful!

Thats great the business acc is free.

I use Zettle (was izettle) the card reader i think was £29 and the transaction fee is 1.75% ~ i liked the fact there is no monthly fee, you only pay when you use it. I think sum up is very similar. There are quite a few around. Zettle requires you to have your phone for conection. some have it built in to the reader. but i think most of these have a monthly fee

MovingForwards

Thanks FP

I had a mooch after you replied last night. Z does appear to be the best overall and a lot of the pop up shops / monthly market stalls seem to use it. I'll just have to look into the PP side of it eg can I add another bank account and select that for transfers.
- I'd probably open a 2nd current account with one of my existing banks for ease of keeping everything together.

If I do courses accredited by a different agency my ins co have to refer to see if they can cover it under my policy. I found a different academy for threading so I don't have to faff about.
- One2one course, with lash tinting added, under £100 for the two 😮 I'm booked on it next week!

I'll make a start on my "workshops" and do a little bit each day or save it for no work days. These are accredited with my agency, that's how I found them.

Paid £435 extra off the mortgage this month, plus the contractual payment, there's approx £51,346 outstanding.

Skint_yet_Again

Great overpayment MF, you will soon be under 50k 💃🕺🥂

MovingForwards

Thank you Skinty

There was a power cut last night, tea was ready to be served at that point, so nothing else done.

My threading course has been changed to AM next week as a space popped up, still the same day though.

I'm hoping to be below £50k when my annual statement is received! So want to be mortgage free quickly 😀

While writing this post I decided to call my lender for a balance check and see how much more could be O/P'd without incurring ERC's. Lump-sum moved from savings, paid as O/P and the balance is now down to £49,133 and some pennies.

The outstanding term now stands at 13y 9m 😮

Oviously my savings have taken a hit due to this, and on top of the hit they took setting the business up, however they can comfortably be topped up as there's no O/P's for a few months!
- I'll have to rejig my monthly budgets and wait for my mortgage statement to plan O/P's but it looks to be about £400pm!

Partway through 2025 my ERC's run out and I can throw everything at the mortgage.

A very rough calculation, based on their current variable rate, I'll have the mortgage cleared by May 2026, with the assumption my day job contract is extended.

😮😮😮

Skint_yet_Again

Under 50k 🤗 2024 is going to be a good year for you both 🥂🍾

MovingForwards

Thank you Skinty

As the contractual payment has come out this month, it's now in the £48k's 😃

Having a think while re-reading my previous post I wondered if it would make more sense to pay a lump-sum at the start of my new 10% renewal rather than monthly O/P's.
- Logically, each month after that would see higher capital getting cleared with less interest being added.

Client visit went well. It was my decision for colour / style and I'm 95% happy with the finished result; another learning curve with a solution found for her next apt. 
- Had lunch, pudding and drink break provided by the client. Payment was foisted on me even though I attempted to decline as they're modeling for me.
- Money added to the "business" cash bag.

My salon bestie had a chat with me about what I'm qualified in, what I've got lined up and was surprised I charge the same as her due to being "new'. I've been offered space in the salon to do all my treatments. Not decided either way due to the previous talk 🤔

To do list for this week:
- add price list to SM (W-end)
- write bio for SM and insurance listing (W-end)
- combine nail equipment (W-end)
- add training manuals to folders (W-end)
- start workshop learning 
- buy folding bed, enquiries sent to sellers
- nail art client (Mon)
- threading course (Fri)
- colour my hair (W-end)
- wax / tint brows (W-end)
- tint lower lashes (W-end)
- practice leg / under arm waxing on myself (W-end)

We had homemade Chinese chicken and veg curry with rice for tea, yummy 😋

MovingForwards

Not sure where the day went today!

I've got the base colour on my nails, just need to do the arty side; must rig a lamp up for when daylight fades.
- also need to do test art for Monday's client.

What would be a fringe and the sides ('bangs') are now lilac and purple; it's my pure white section and might look good lilac leading into purple. I'll do the rest of my hair red / purple tomorrow and put another lot on the lilac to darken it. 
- might need TomBo to help with the sectioning.

I'll finish all my pamper off tomorrow and see what business things I can clear too. I must get prices up and a special offer, have a photo ready.

Business phone case arrived today. Phone is now out the box and left on (silent). Must record a short message so clients know they've the right number.

My insurance documents also arrived, I'll read them tomorrow over breakfast coffee.

Discussed salon bestie's chat with TomBo, told him my original plan I'd formed if she would have said yes to start with. He thinks I should take her up on the space as my plans were well thought out and I'd gain salon experience.
- I'll get my threading qualification, do another push for brow models to get that one finished and then ask salon bestie how much the rent is.

We're having a western evening 😃

savingholmes

Well done on maxing out your OP. Paying your next set of OPs at the start of the next mortgage year does sound good as long as you will still have an EF.

Good that your business is progressing well.

MovingForwards

Thanks SH

I'll still have an EF and it would increase monthly from income.

I've stripped my nail art off as I really didn't like it, so wasn't me. 

Unfortunately, nothing done on my list and client cancelled tomorrow.

Currently debating keeping the day off, tackling my list and re-doing my nails afterwards.