IA's road to becoming a CAB Debt adviser.

barnaby-bear

immoral_angeluk wrote: »

You are right BB. Just annoyed as it's pretty much all chance of being able to pay off the egg card in full now.

You really do set yourself such high expectations and aspirations and your targets so frequently that when you only hit them to 95% you see it as failure, a few weeks back you had quite a few people saying yeah drop the goals, do less, it's too much etc.... basically because most people can't see a way out or have lost the belief they can change stuff or that they don't have to settle for less; the disappointment of scraping under your own expectations is so much harder on you because you are setting the bar so high. It's still a £350 step forward :T

notanothergreyhair

Gemmzie wrote: »

:eek: That's erm... *racks brain for the right word* girthy?

I was thinking exactly the opposite

Bunnyinthelights

BB,
Thank you-you convey nicely what I believe-Sar is far too hard on herself and gets disheartened too easily.
I'm glad someone can say what I think 'cause I'd just do my normal, 'for God's Sake, pull yourself together' thing which is neither helpful or constructive.

JonathanA

First of all, I think you're doing exceptionally well!! But I'm a bit confused about why your savings for tax are so high? If you have sales of £374, and expenses totalling £280, your net profit is approx £94. Thus, you need to put aside 20% of that figure (£19).

The way to track it is to buy a book and on one side of the page, list all your business income, on the opposite page list all your business expenses, not just what you buy, but remember to include mileage at 40 pence per mile, any costs for printing etc etc. At the end of each month (or week if you prefer), total up both sides, subtract 1 from the other and then you have your net profit (or occasionally loss, but I doubt that in your case). From that figure, put 20% to one side and the rest is your profit. Remember to keep some money aside for cash flow as sometimes you'll be spending money before you get it in.

Hope that helps a bit - and feel free to tell me I haven't interpreted your figures properly!!!

I can't believe how much you've achieved with AS alone from a standing start, without fitting everything else in as well. Keep this up and you'll be a millionaire by the time you're 30. Anyone want to bet that won't be the case?

immoral_angeluk

barnaby-bear wrote: »

I can't make head nor tail of it - it's all these bits that are confusing - the set up costs - the raffle prizes - printing costs etc. What is the hourly rate working out like? How much do the prizes etc. hit the comission?

*thinks*
Pass!

immoral_angeluk

barnaby-bear wrote: »

But it's 0% right - so if the figures stack up somewhere you've borowed the set up costs for a business for free and it's a bit unrealistic (even for you;) ) to expect to pay all the setup costs back in the FIRST month. You're a few months into this huge life changing plan that's opening up all these doors and is looking to set you all up for the next 43 years of your working life (:p you've 43 years until you retire!!!!:eek: ).... most people your age are living in shared houses with the prospect of 43 years of crap jobs ahead of them.... you've pretty much already set your family, home, career up and know what you want to do and where you'll be - you probably won't even be still eligible for tax credits in a few years and you're obsessing about paying off a balance at 0% a few weeks later than you'd hoped (a few weeks out of that long and fulfilling 43years :eek: ahead.

The egg card isn't 0%. I've done 0% BT's on it in the past but the APR on it is 16.9 but we've been paying it off in full.
I want to get the set up costs paid off so it's simpler to work out the profit etc. To be fair this whole self employed malarky is very new to me so I'm getting easily confused.

immoral_angeluk

Bunnyinthelights wrote: »

BB,
Thank you-you convey nicely what I believe-Sar is far too hard on herself and gets disheartened too easily.
I'm glad someone can say what I think 'cause I'd just do my normal, 'for God's Sake, pull yourself together' thing which is neither helpful or constructive.

But that's what you do best!

immoral_angeluk

JonathanA wrote: »

First of all, I think you're doing exceptionally well!! But I'm a bit confused about why your savings for tax are so high? If you have sales of £374, and expenses totalling £280, your net profit is approx £94. Thus, you need to put aside 20% of that figure (£19).

The way to track it is to buy a book and on one side of the page, list all your business income, on the opposite page list all your business expenses, not just what you buy, but remember to include mileage at 40 pence per mile, any costs for printing etc etc. At the end of each month (or week if you prefer), total up both sides, subtract 1 from the other and then you have your net profit (or occasionally loss, but I doubt that in your case). From that figure, put 20% to one side and the rest is your profit. Remember to keep some money aside for cash flow as sometimes you'll be spending money before you get it in.

Hope that helps a bit - and feel free to tell me I haven't interpreted your figures properly!!!

I can't believe how much you've achieved with AS alone from a standing start, without fitting everything else in as well. Keep this up and you'll be a millionaire by the time you're 30. Anyone want to bet that won't be the case?

Thank you. I was working out the figures on the whole figure rather than the net profit.
Thanks for the idea with the orders and expenses etc... think I'll do that.

Spendless

What about your tax free allowance? Is it all taken up by your Argos job? Can you add 2 jobs together for the tax free allowance bit

immoral_angeluk

Thanks everyone for the advice. Today was a good day. Had an appraisal and also got a party booking from my manager! Lol! Got some CAB work to do tonight ready for monday. Glad this week's over though. It's been manic! lol!