Ive been wanting to jack it all in and take up W/C as want to be my own boss but like you worried about money .... I need £2100 a month to cover all bills and a little fun money.
Is that £2100 after tax? If so you're going to be needing £750 per week every week?
It's "doable" - But it takes a while to get there!
Andy
I think thats a bit conservative. I would work on the basis that your 'wage' ie takehome £'s to spend will be 50% of turnover. so I would aim for about £900 per week.
wheres 1500 a month going?? Tax on 2100 (2100*12) would be 2850 takin into account personal allowance and expenses of 5k a year , so its why does he need an extra 1500 .00 ??
Hes gone from needing 525 a week to 750 to 900 in about 3 posts lol
Well first of all he needs £2100 per month AFTER tax so that is £484 take home.
Allow for 4 weeks holiday he needs to TAKE HOME £
525 per week AFTER tax.
To get £525 AFTER tax he needs to Turn over at least £34000 per year. Thats £
708 per week
Add to that £6000 in expenses and turnover will need to be £40,000
Bearing in mind he needs to do this in 48 weeks = £
833 TURNOVER per week, plus the business needs to make a profit and I thought £65 per week profit was reasonably low.
That gives me £
900 per week. I was the only one to add ALL the sums together.
The mistake many make is between TURNOVER and TAKEHOME.
If you have a full time job look at the Gross and Net differences plus holiday pay.