We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Self-employed on a low income needs a loaned £3-4k buffer cash to be repaid within 2 years
Options
Comments
-
I think you don't understand the bit about new, higher productivity equipment. My current equipment enables me to work with low productivity. And I have no time to save money on a low hourly income.0
-
Also, if I wanted, I would have a chance to borrow money from my family, but I won't do it.0
-
Ajax67 said:I think you don't understand the bit about new, higher productivity equipment. My current equipment enables me to work with low productivity. And I have no time to save money on a low hourly income.
If so I can see why a bank would be even more reluctant to lend the money.0 -
My income will go up when I have new equipment. Otherwise, I would have to work long hours on a low hourly income. That I want to avoid.0
-
Also, in case some global disaster happens and my services will no longer be required, I will be able to sell the bigger van I am currently about to buy. That way I will be able to repay the debt.0
-
Ajax67 said:My income will go up when I have new equipment. Otherwise, I would have to work long hours on a low hourly income. That I want to avoid.0
-
HeinzVarieties said:Ajax67 said:I think you don't understand the bit about new, higher productivity equipment. My current equipment enables me to work with low productivity. And I have no time to save money on a low hourly income.
If so I can see why a bank would be even more reluctant to lend the money.0 -
Ajax67 said:HeinzVarieties said:Ajax67 said:I think you don't understand the bit about new, higher productivity equipment. My current equipment enables me to work with low productivity. And I have no time to save money on a low hourly income.
If so I can see why a bank would be even more reluctant to lend the money.0 -
And to be honest, I would prefer some practical tips. Up to now, I have heard only ill-informed and judgemental remarks on my account.0
-
Not ill informed..
Thats what a business does they save the profits and use it to make the business batter by buying equipment or hire staff thus increasing profits and then investing more into the husiness
You have 15k in savings use that and then when you have the kit you will be able to replenish the money quicker than you had previously.
Dont borrow money for just in case as you woild need to fund the monthly payments straight away as well as your living costsMortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £58,108
Cc around 8k.5
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards