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Increasing my day rate?

I don't really pay much attention to politics etc (I have to much going on to really follow it).

But since the shock on Friday morning and seeing all the talk about the pound dropping etc.

I don't know much about anything when it comes to this type of thing.

I do know it has effected my shares I have with BT Group (lost over £15000)

But does this mean I should increase my rates?

Regards,

Ashley

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  • PRO
    No, have patience, the smoke is still really thick and we all need to wait to see how it's going to pan out.

    The pound will climb against the dollar (eventually) it's regaining against the euro already, the FTSE isn't as catastrophic as the media would have you believe, we're still higher than a few months ago.

    If you were an in or an out is irrelevant now. We all have to just wait for our great and glorious leaders to stop having their bitch slapping sessions, grow a set, and get us the best deals possible.

    The more confidence we have in our leaders the stronger the markets.
  • PRO

    Share investments should always be considered 'long term' and often ride out stock market fluctuations. A short term view, especially after last weeks poilictal turmoil does focus one's attention on their value (I did the same when looking at my shares), but i would not kneejerk as you stand the chance of a double whammy.

    Re; your rates - that's a hard question to answer. Your 'rate' should already be reflecting your true life costs, your desired slary plus and element of profit / reinvestment. It's always a good job to constantly monitor your rate and fine tune as necessary.

    If it were me, I'd collect all my finnacial information together, sit down with a calculator / spreadhseet and punch some numbers and see if there is any justification for raising your prices. However, I would never use the recent events as any attempt to justify a price increase with a customer - you'd get seriuos knock-back I'd suggest.

    • Especially if that customer has themselves been financially effected by the Brexit.

  • Thanks for the input.

    I guess if it starts causing me financial problems I'll evaluate the situation and see what I can do to keep everyone happy.

    • PRO
      Right now, other than your shares it shouldn't be a problem but keep your eye out for a subtle increase in fuel and materials prices. I think that's going to be the first to move.
  • You must be "loaded" to "lose" £15,000:)   Shares are always going up and down so no need to panic... as Gary says.... they're a longterm investment....... they'll be back to where they were in a few days/weeks. I can't see any reason to increase your rates unless you expenses go up............ I don't think you can really expect your customers to cover the money your shares have dropped :):)

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