4 ms·

Doesn't sound like good advice. When the market drops suddenly, lots of the people on the top rates won't get any work due to demand. Could you drop them at tha

Doesn't sound like good advice. When the market drops suddenly, lots of the people on the top rates won't get any work due to demand. Could you drop them at that point? Possibly but not if your mortgage would become unaffordable. An alternative is to consider what lifestyle you think is fair for society and work it out from that. We don't all have to perpetuate the worst of capitalism that I should be paid whatever people will pay me. My dad was a house painter and charged a pretty low rate and had work coming out of his ears which meant more choice of what work he wanted/how far away it was. He could afford to live on it and that was OK for him.

adamsmith143 4y ago
>Possibly but not if your mortgage would become unaffordable. This has nothing to do with your rate or the market but your inability to avoid crippling lifestyle creep.
- biztos 4y ago
  "Lifestyle creep" is a great term! Not to be confused with the creep lifestyle of course. My own lifestyle creep has become problematic, but thankfully not yet crippling, and I'm working to claw back some of that creep. But not in a creepy way.
dewey 4y ago
> Possibly but not if your mortgage would become unaffordable. The solution is to not live above your means and assuming that your current income will always be there. It's important to have a buffer, especially if you are self employed. Just not raising your rates isn't really the solution to the problem.
dkarl 4y ago
> Doesn't sound like good advice. When the market drops suddenly, lots of the people on the top rates won't get any work due to demand. Could you drop them at that point? Possibly but not if your mortgage would become unaffordable. Getting the biggest mortgage that your current income supports is the problem in that scenario. Being prudent and patient doesn't have to mean missing out on the good times.
cassianoleal 4y ago
> Could you drop them at that point? Possibly but not if your mortgage would become unaffordable. That's actually why you should charge as much as you can. Build a buffer, have a way out of market drops. That kind of risk is precisely why contractors tend to charge a lot more than their salaried counterparts.
agumonkey 4y ago
finding your worth and financial education are orthogonal IMO

adamsmith143 4y ago

>Possibly but not if your mortgage would become unaffordable. This has nothing to do with your rate or the market but your inability to avoid crippling lifestyle creep.

biztos 4y ago
"Lifestyle creep" is a great term! Not to be confused with the creep lifestyle of course. My own lifestyle creep has become problematic, but thankfully not yet crippling, and I'm working to claw back some of that creep. But not in a creepy way.

dewey 4y ago

> Possibly but not if your mortgage would become unaffordable. The solution is to not live above your means and assuming that your current income will always be there. It's important to have a buffer, especially if you are self employed. Just not raising your rates isn't really the solution to the problem.

dkarl 4y ago

> Doesn't sound like good advice. When the market drops suddenly, lots of the people on the top rates won't get any work due to demand. Could you drop them at that point? Possibly but not if your mortgage would become unaffordable. Getting the biggest mortgage that your current income supports is the problem in that scenario. Being prudent and patient doesn't have to mean missing out on the good times.

cassianoleal 4y ago

> Could you drop them at that point? Possibly but not if your mortgage would become unaffordable. That's actually why you should charge as much as you can. Build a buffer, have a way out of market drops. That kind of risk is precisely why contractors tend to charge a lot more than their salaried counterparts.

agumonkey 4y ago

finding your worth and financial education are orthogonal IMO