Now that you are free of all debt apart from any mortgage that you may have it is now time to super charge your emergency fund so that you have 3-6 months of expenses saved. This money again should be placed in a saving instant access account so that in an emergency you can withdraw the money if required without any penalty. Again this money should not be used unless it is a genuine emergency. You should not invest this money in any type of investment as we are really not concerned about this money making you money it is purely to be used for its purpose.
This is the stage we need to make sure that we have enough money for those small inevitable emergencies that happen in life this could be anything from an unexpected car breakdown to some sort of medical problem that you need to pay for. Really this need to be £500-£1000 it may take several months to build up this small emergency fund but it will be one of the keys that will stop you from having to rely on debt again. The whole idea of this stage is that it stops you from having to get in debt ever again.
So it is September 2017 and the site has been active for two months as part of the ongoing effort to build the website I thought I would share with you how much it costs and how much income is earned from the website and the other things that we do. I am initially just going to share the income and expenses from the website. Eventually I will try and add other income and expenditure so we can share a wider picture of what we earn and what the outgoings are. So here we go month three.
So it is August 2017 and as part of the ongoing effort to create the website I thought I would share with you how much it costs and how much income is earned from the website and the other things that we do. I am initially just going to share the income and expenses from the website. Eventually I will try and add other income and expenditure so we can share a wider picture of what we earn and what the outgoings are. So here we go month two.
The average weekly earnings of a person living in the UK is currently £503 per week or £26,156 per year this would give a net salary of £20,873.28 with deductions of Tax £3,111.20 and National Insurance £2,171.52. Some would call this the salary of the Normal Person who will work 37-40 hours a week. This is compared to the salaries of the Premier league football stars who can earn anything from £20,000 per week to £400,000+ per week giving a salary of somewhere in between £1,040,000 and £20,800,000 it is however difficult to decide how much time a footballer spends working in an average week as it is not just two ninety minute matches a week for the season. It is sometimes said that the high salary is required due to the short working life of the footballer but when you compare the normal person’s salary it would take them almost 40 years of their working life just to get the lower end of the Premier league footballer’s yearly salary. It could be debated whether this is justifiable or not but it is said that the Premier league is one of the riches football leagues in the world. Similar salaries will also be paid to the stars of Spanish BBVA La Liga Table, the German Bundesliga and the Italian Serie A.