Own wage

[shiningstar]

Hi guys i'm jst starting out with my own business, finished the room got the cards and things and I've got some ppl interested which is great i was jst wondering how everyone else works out their wage from their business, obv u have to take out the cost of products and tax and things from the price but do u keep whats left or keep some and keep some back for further growth or 'rainy day' ? I'm also trying to figure out whether to give myself a set hourly wage or different for different treatments. As u can probably tell I've overthought it and thoroughly confused myself so any help really would b greatly appreciated! kim Xx
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[kezza*]

Hi ya
I was tha same and I spoke to an accountant, he'll sort my ni and tax out so much easier for me.
I asked him what do I do about paying myself and he said "whatever is left after bills etc is yours".
I do have a business account and I pay cheques into that, I always make sure I have money in that, I don't touch that money so that it can keep going back into the business.

 

[hippy-chick]

I pay myself a set figure every week come rain or shine, sickness or holidays, the rest goes into the pot to cover (hopefully) every eventuality.

 

[Beauty Boutique]

Iv been running a year now & havnt taken a wage since I started which was the advice of the bank we i was starting I had savings to back me up so iv lived on those & i will be giving myself a set weekly wage as of november, it helped me doing it this way so i knew how much i cld pay myself, obviously every1s circumstances are different!!! I opened up with a small client base so i cldnt really predict how much I would make!!

good luck

Dee

xxxx

 

[kimi1101]

I pay myslef what I need to keep me going, to pay all personal bills etc. But hopefully if I am as busy as I am now in January then I will up my wages to what I was getting paid in my last job. Prob could afford it now but don't wanna get used to it then take a dip in Jan and be struggling to pay myself it xx