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Is contracting the key to a successful and family-friendly career
Article Author: Brendan Beeken Posted on: May 17, 2016 (Full Author Bio in the box on the right side)
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A happy work life balance is something we all want. Whether you currently have kids, or are considering having them in the future, it can be difficult to find a career that allows you both precious family time and financial security.
Here’s three reasons why contracting may be the key to a successful and family-friendly career.
Greater freedom and control over working conditions
When you work as a contractor, you can choose which hours you decide to work. Therefore, if one of the kids is sick, or gets the lead in the school play, you can be there without having to beg to go. As long as you put in the number of hours per week you’ve promised, most companies won’t be concerned over which day you physically do the work.
Financially lucrative contracts
Most contractors are paid a significantly increased hourly rate or a day rate, This allows you to make more money, doing less hours, so you can spend more time with your loved ones.
Maximising take home pay through tax efficiencies
Working as a contractor enables you to set up a limited company or umbrella company. These provide legally compliant ways to reduce the tax you pay, allowing you to retain up to 85% of your earnings. Maybe that family holiday could finally be booked?
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