Wages?

[ChocolateChip]

Hi everyone,

This probably sounds a daft question, but I am due to start minding soon and (assuming the customers I have lined up actually come through! )was wondering whether to pay myself wages or not.
Not sure if that will make sense to anyone, but I have opened a separate account and I don't know whether to just take what I can when I can or to take a set wage and let a little build up in the business for those inevitable costs.
Would appreciate any views or advice on this,

Nikki

[Spangles]

Sorry, I can't help because I just put my payments in my savings account and use them to buy large purchases and NCMA membership etc at the moment as I'm not earning very much and still buying lots of things as only just started!

[sarah707]

I pay the bills, put some by just in case I need to pay tax at the end of the year... what's left is mine!

But then I'm single... so no hubby's income to muddy the waters, I'm not earning a little bit extra for me or anything. What I bring in has to pay everything or I'm sunk!

I do make sure I have my emergency fund though... just in case the roof needs re-slating or the sofa gets sicked on so badly I need to replace...

Gone off point there somewhere, sorry :laughing: it's late!

[chubbymummy]

i do not pay myself wages

what i earn is what we live off

dh's money goes on morgage bills etc

[buildingblocks]

I went on a business course and they advised you pay yourself a wage each week. Me I would just like to earb eenough to pay the overdraft off to pay myself a wage as that would mean I was earning proper money lol

[Rubybubbles]

I don't pay myself wages. But all my money goes into my own account. As hubby works away his money is his, and mine is mine! Only so we can keep track! I use my fees for everything, toys, equipment, stuff for my children so my fees get used if you see what I mean?

Hubby pays for all the bills:laughing: , rent, electric, gas ect!

[Cammie Doodle]

Kate, Carolyn and I went on a business course too and it said to pay yourself a wage :) They said it was good practise

[nat1664]

Sorry I cant really help as Im only earning about 20 quid a week at the moment :panic:

Nat

x

[Trouble]

i wish id of paid my self a wage sounds good but i bought my car with mine and other big things

[Banana]

Im a bit lost....

Your payments from your parents are in effect your wages....... arent they??

Dont you still have to pay bills etc when you get wages from an employer - i would have thought it was the same thing. May not be understanding what you mean. But the money I earn is my money, I then use it to buy or pay the things I need to so that is to me the same. Whatever is left over after paying all I need to is my spending money, but wouldnt allocate money to myself without paying everything else I had to first.

xx

[LittleMissSparkles]

Im a bit lost....

Your payments from your parents are in effect your wages....... arent they??

Dont you still have to pay bills etc when you get wages from an employer - i would have thought it was the same thing. May not be understanding what you mean. But the money I earn is my money, I then use it to buy or pay the things I need to so that is to me the same. Whatever is left over after paying all I need to is my spending money, but wouldnt allocate money to myself without paying everything else I had to first.

xx

I agree with Lana


I spend eery penny month to month ... always been rubbish with money and tightenin purse strings !!!

[deeb66]

I agree with Susan and Lana

The money I earn is my wages but I do also have a set budget each month that I put aside to buy resources etc.

I also put a small amount asdide wach month to cover any tax should I need to pay any. If I don't it was a nice little savings scheme that year - lol!!!