ICTChris Posted June 27, 2016 Author Share Posted June 27, 2016 My boss in work has a number of buy-to-let properties that he manages, that gives him a bit of extra cash and some assets he could sell should he need to. Another one of my colleagues runs a travel company in his spare time, giving him another string to his bow. I quite fancy having my own little business, not sure what I can do though. Link to comment Share on other sites More sharing options...
++Ammo - Airdrie++ Posted June 27, 2016 Share Posted June 27, 2016 My boss in work has a number of buy-to-let properties that he manages, that gives him a bit of extra cash and some assets he could sell should he need to. Another one of my colleagues runs a travel company in his spare time, giving him another string to his bow. I quite fancy having my own little business, not sure what I can do though. I've often thought about having my own wee business aswell but start ups etc are a b*stard. To trade (well not really a trade) I'm a door engineer (roller shutters etc) but the time that takes up a week can be 80+ hours (call outs, overtime) so I sacked that for a 8:30-5 local number. Took a big hit in wages but I spent loads of time with my kids now. When I was thinking about what to do next I dabbled with the idea of buying a snack van and just getting someone to work on it for me, but I sh8t it and didn't bother. Link to comment Share on other sites More sharing options...
Cardinal Richelieu Posted June 27, 2016 Share Posted June 27, 2016 I've often thought about having my own wee business aswell but start ups etc are a b*stard. To trade (well not really a trade) I'm a door engineer (roller shutters etc) but the time that takes up a week can be 80+ hours (call outs, overtime) so I sacked that for a 8:30-5 local number. Took a big hit in wages but I spent loads of time with my kids now. When I was thinking about what to do next I dabbled with the idea of buying a snack van and just getting someone to work on it for me, but I sh8t it and didn't bother. I reckon a smack van in Airdrie would be a goldmine. Oh wait, you said snack van. Link to comment Share on other sites More sharing options...
Hillonearth Posted June 27, 2016 Share Posted June 27, 2016 Currently got my arse to rent on gumtree. Bumtree, surely? Link to comment Share on other sites More sharing options...
BFTD Posted June 27, 2016 Share Posted June 27, 2016 I'll be out of debt in October and £250 a month better off as a result, just in time for the collapse of society. Yaldi. If the worst comes to the worst, I'm pretty sure that my life insurance policy doesn't have a suicide clause, so the wife and wean are covered. Link to comment Share on other sites More sharing options...
throbber Posted June 27, 2016 Share Posted June 27, 2016 My boss in work has a number of buy-to-let properties that he manages, that gives him a bit of extra cash and some assets he could sell should he need to. Another one of my colleagues runs a travel company in his spare time, giving him another string to his bow. I quite fancy having my own little business, not sure what I can do though. Sell your arse Link to comment Share on other sites More sharing options...
chomp my root Posted June 27, 2016 Share Posted June 27, 2016 Bumtree, surely? knot recommended. Link to comment Share on other sites More sharing options...
Zen Archer (Raconteur) Posted June 27, 2016 Share Posted June 27, 2016 £7.56 from 64p bet last night on Bet365. Im going places. Did you buy a day rider ticket? Link to comment Share on other sites More sharing options...
chomp my root Posted June 27, 2016 Share Posted June 27, 2016 My boss in work has a number of buy-to-let properties that he manages, that gives him a bit of extra cash and some assets he could sell should he need to. Another one of my colleagues runs a travel company in his spare time, giving him another string to his bow. I quite fancy having my own little business, not sure what I can do though. I've got 3 rentals, 2 were always let out through an agent and 1 I was letting out myself but that's now through an agent as well. I worked away and planned on managing them myself and making more each month but sourcing good tenants can be a gamble and the daft calls can be a pain so I've left them as is. For the money they charge a good agent is worthwhile, at least for me. As for good business ideas, my mate has a factoring company on the side, he works away too so has had to rely on others but he reckons its an easy money maker, he fell into it by organising work done on the block of flats he lives in and it took off from there. He basically organises work to be done and bill the flats for the big things and collects the money for the communal stuff. He had to stop taking on more works because it was getting too big as a sideline. There's definitely 'gaps' to be exploited if you've got the sack to do it, I was always happy to be a wage slave, basically a big fearty but some people are more driven, I wish I was. Link to comment Share on other sites More sharing options...
hk blues Posted June 28, 2016 Share Posted June 28, 2016 Bleak. Declining interest rates hurting as my only income is savings. The plunging pound another killer as my savings are in pounds but i spend in local currency. And the probable hit on pensions in the future ... Still, with a 500ml 6.9% bottle of beer here costing only 60p I'm probably about breaking even. I could do something drastic and get a job. There's a house being built across the road from me and they're hiring labourers. Unfortunately, the £3.25 a day (not an hour) wage is putting me off a bit t.b.h. Link to comment Share on other sites More sharing options...
sjc Posted June 28, 2016 Share Posted June 28, 2016 Bleak. Declining interest rates hurting as my only income is savings. The plunging pound another killer as my savings are in pounds but i spend in local currency. And the probable hit on pensions in the future ... Still, with a 500ml 6.9% bottle of beer here costing only 60p I'm probably about breaking even. I could do something drastic and get a job. There's a house being built across the road from me and they're hiring labourers. Unfortunately, the £3.25 a day (not an hour) wage is putting me off a bit t.b.h. You could get back into teaching English...... Link to comment Share on other sites More sharing options...
Gaz Posted June 28, 2016 Share Posted June 28, 2016 We're not too bad. Have a bit of debt from when my wife was young and foolish. But that's under control. She's going back to work full-time after the summer which will help massively. She's at the top of her salary scale so earns a few £k more than me. We're hoping to buy a bigger house over the next year or so. Link to comment Share on other sites More sharing options...
hk blues Posted June 28, 2016 Share Posted June 28, 2016 You could get back into teaching English...... No chance here in the Philippines mate, they're all apparently fluent and monopolising the online teaching markat at £1.50 an hour. I've looked into it already... Link to comment Share on other sites More sharing options...
Ross. Posted June 28, 2016 Share Posted June 28, 2016 No chance here in the Philippines mate, they're all apparently fluent and monopolising the online teaching markat at £1.50 an hour. I've looked into it already... You might want to register for a refresher course.... ETA: Can't complain. Have a flat in Scotland being let out and the mortgage won't kill me if and when it is empty again. Have a bit of cash saved in long term deposit accounts in CHF which I add to annually. Also have a little bit put aside in an accessible savings account, for emergencies. Should probably pay off my credit card but always end up spending money on stupid things I don't really need. If I screwed the nut I could absolutely nail my retirement by 45 but I am still far too immature and reckless with my money. Link to comment Share on other sites More sharing options...
Stephen Malkmus Posted June 28, 2016 Share Posted June 28, 2016 I have a decent graduate salary but my rent/bills comes to around 40-45% of what I take home each month. Combined with the relatively high cost of living where I am, there's not too much scope to save. Although I do have some "savings" which is basically just student loan money I hoarded. Got 15k student debt to pay off but I don't view it as a burden - it comes of my pay monthly and I don't take much notice. I signed up to Bank of Scotland's share trading site a few weeks ago which I'm going to read up on and invest some money in. Anyone else do this? Link to comment Share on other sites More sharing options...
Zetterlund Posted June 28, 2016 Share Posted June 28, 2016 Mrs Z & I are comfortable at the moment but I am a bit concerned about the future economic situation. The entire financial system is basically bankrupt and terminally indebted to the point that actual countries couldn't afford a normalisation of interest rates, while this cheap credit is the only thing keeping bubble assets where they are. If I had large savings in a bank I'd be worried about how safe it is tbh. Diversifying what you own/save is the only way to best protect yourself from any future collapse. Cash, property, stocks, gold.... all will perform differently in a certain economic climate. For example, gold was £700/oz at the start of the year and went to over £1000 after the Brexit vote, and in the same period the £ has fallen 12%. Is property a good store of value at the moment? I'm not so sure, and stocks seem to have topped out. A second income is a good shout if you have an idea and the time for it. I work for a small company and don't have the free time, but I think if I was ever looking for another job I'd start up something myself so I felt like I was more in control of my own future. Link to comment Share on other sites More sharing options...
Zetterlund Posted June 28, 2016 Share Posted June 28, 2016 I signed up to Bank of Scotland's share trading site a few weeks ago which I'm going to read up on and invest some money in. Anyone else do this? Not invested in stocks as such but I do use a day trading platform. It's basically gambling on the live markets, risky if you're not sensible but I find it quite interesting following market news and playing with small amounts. Link to comment Share on other sites More sharing options...
EdgarusQPFC Posted June 28, 2016 Share Posted June 28, 2016 Not invested in stocks as such but I do use a day trading platform. It's basically gambling on the live markets, risky if you're not sensible but I find it quite interesting following market news and playing with small amounts. Something ive considered trying, when you say small amounts, how small? Link to comment Share on other sites More sharing options...
RandomGuy. Posted June 28, 2016 Share Posted June 28, 2016 Over half my wages go into rent/saving for a mortgage, with the other half paying for my 25mpg car. Tremendous. Link to comment Share on other sites More sharing options...
Zetterlund Posted June 28, 2016 Share Posted June 28, 2016 Something ive considered trying, when you say small amounts, how small? Literally only a few quid sometimes, but of course with leveraged instruments you could in theory lose more than your stake. Typically I'll stake £20 or so and I usually only have open trades while I'm on the laptop with it running in the background. I use Plus500 which lets you try it in demo mode with real markets first, so you can squander your children's inheritance several times over while you get the hang of it. Link to comment Share on other sites More sharing options...
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