Keep Control of My Finances Star this Commitment
Week 19 of 52

Alison2310 commits to:
Manage and Control my Finances by 1) Keeping my Current Account in Credit (without stealing from other Accounts), 2) Keep Remorseful / Wasteful / Frivolous Spend to a Minimum, 3) Make Sure I get back Money People Owe Me and 4) Aim to Save Money Each Month.
Last reported: Success
Next report due:
May 17
12:00 AM GMT
My Commitment Journal
May 10, 2021, 6:36 AM
I'm pretty sure someone needs to pinch me. My first week working for myself has been amazing. I have had so much support and quite a few inquiries and I have some very exciting (a little challenging too) new projects to get stuck into. However, the one thing I need to remember is not to rest on my laurels.

Terry has been such an inspiration and has helped me a lot this week - he has given me a task of making 5 phone calls a day - this I think will only happen if I plan my time better and don't get bogged down in the afternoons - which I have noticed is happening.

I have a job for
-Abbey Office that's coming to an end, but they've agreed to some PR work, which I need to send an official quote for.
- Equipment Rentals I need to finalise part of a job & find out the next bit of the project after they have approved my Quote Builder,
- I have had a quote accepted by Heritage Safaris and am now waiting for some instructions,
- Proper Marketing want me to do an advert for them, although, I can't see why they need me if they're a Marketing agency (?) but I have a Zoom Call with Paul on Tues and must prepare for that.
- The Eccentric Englishman, through website, which I need to send a quote for today ( I really want this one!),
- East Pennine Service Contract to work on for and possibly a Quote Builder.

Anyway, to the Scores/Grades as I could be here all day:
1) Current Account in Credit in its Own Right: 100% (A)
2) Keep Remorseful / Frivolous / Wasteful Spend to a Minimum: 100% (A)
- Spend on only 1 Luxury Item and 1 Necessary Item - not yet
3) Payment Owed to Me by Customers/Family/Band: 90% (B)
Therefore, I award myself the following Score / Grade: 96%(B+)
May 3, 2021, 9:41 AM
It's been a strange week. I thought it was going to feel awful leaving Olivetti after 17 years but, because I had been in touch with so many of the people that I would miss - and they were all so supportive and encouraging and asked me to send them my details - I felt relieved on Friday at 5.00pm, when I became, officially, self-employed.

I already have one job on the go for Abbey Office and I've had a quote accepted to work on a new business start-up project with Paul Leggett. Also, an outstanding job, I wasn't sure I would hear more about, has raised itself again. Admittedly, that one is a job I've already received payment for under the pre-Tangerine set-up.

Now, it's up to me to get my pricing right. So many people have said I was way too cheap. It is different now, it's my livelihood, so my quotes will reflect that going forward. Nothing will be cheaper than £100.00 from 4th May onwards.

I have had my redundancy money already and Dave has said he won't turn off my system just yet, as he may need some work doing. I will send him my hourly and day rate on Tuesday. I've got enough in the pot to tide me over for about 5 months, if I don't get any money at all, so I feel a little bit more secure - I have set up my spreadsheet to include my Classic Acc - now my unofficial business account - so I know to transfer what I need in to my Current Acc to pay my monthly bills on the 27th of the previous month. I'm also trying to stay aware, in advance, of any big outgoings that are looking on the horizon, such as my car service, Dad's book etc.

I have also decided that I will allow myself 1 luxury per month and 1 necessity - this month it's my car service that is the necessity. I was going to say Karen's birthday is a necessity too, but I think Terry and I can take that from the house - I'll see what he says.

So, here we go, the Scores/Grades for this week are as follows:
1. Current Account in Credit in its Own Right: 100% (A)
2. Keep Remorseful / Frivolous / Wasteful Spend to Zero: 100% (A)
3. Spend on only 1 Luxury Item and 1 Necessary Item: 100% (A)
4. Payment by People Owing me Money: 100% (A)
Therefore, I award myself the following Score/Grade@ 100% (A)
April 26, 2021, 9:55 AM
Well it's all happening now - I'm officially running my own business. I have a UK Gov Gateway Number and I'm ready to go. I just need to organise some insurance, work out my business terms for people who want to work with me, my charges and get myself 5 contacts per day. That's a bit simplistic but that's the bones of it for now. I do have my first official client though, Abbey Office, one of the (now ex) Olivetti Dealers who I'm re-working van graphics for. I have probably undercharged him, but that's £90 I'll be earning.

I've had my full redundancy package already so am now setting up a separate account for all of that, so I've got £1500 going into my Current Account on the 27th of each month - that's going to have to be a manual move though, as there is only a finite amount in my Classic Acc to move, so I'll see if I can eak it out for 5 months. After that I'll have to see. I may have the opportunity to cover Monika Holton's maternity leave at Sue and Paul's company from July. I have a hand-over meeting with them all on the 11th June, so hopefully that will give me 15 hours per week but I don't know the amount yet.

*I'm going to change the way I record and reward myself when it comes to people owing me money. Previously, this was a way of making me ask people for money for things that I'd paid for such as the band promo, family group payments for presents and trips etc. Now, however, it's an absolute must - so I HAVE to make sure I'm paid what I'm owed and am not left with a loss, as Tangerine is to become my income.

So, to stop me overthinking and wasting precious time, here are my Scores/Grades for the week:
1) Current Account in Credit in its Own Right: 100% (A)
2) Keep Remorseful / Frivolous / Wasteful Spend to a Minimum: 100% (A)
3) *Payment by People who Owe Me Money: 100% (A)
Therefore, I award myself the following Score / Grade: 100% (A)
April 19, 2021, 8:48 AM
Quite an interesting week. It's been uplifting to note how many people have pledged support for my decision to go full-time freelance. I'm just hoping that might equate to some business in the future. I have felt very buoyant but this morning I woke up with my Doubting Self making me feel unsettled - what if people are just being nice and not interested in me when I've left Olivetti? What if I can't organise my finances properly? What if I struggle to contact people? What if I fail to earn enough money? What if people hate my work? So many doubts but I know they are just limiting beliefs that I have to get over.

In the meantime, my Current Account is healthy, my spend is virtually nil, my savings are healthy and no-one owes me money. In fact , the amount of money I've earned - albeit below the minimum wage - will pay for my Adobe Software and Image Libraries. I will need to purchase a new MicroSoft suite and make sure I know exactly what will happen to my PC after 30th April.

Anyway, to the Scores/Grades for the past week:
1) Current Account in Credit in its own Right: 100% (A)
2) Keep Remorseful / Frivolous / Wasteful Spend to a Minimum: 100% (A)
3) People Not Owing Me Money: 100% (A)
Therefore, this week, I award myself the following Score/Grade: 100% (A)
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May 3 to May 10
April 26 to May 3
April 19 to April 26
April 12 to April 19
Recipient of Stakes
Anti-charity (Political: The Fabian Society (Labour))
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Total at stake: $260.00
Stakes per period: $5.00
Remaining Stakes: $170.00
Total Money Lost: $0.00
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