A diary of a slimming world consultant

I have a bank account question - i've been told I need to open a seperate bank account for slimming world stuff. Should this be a current account or does it have to be a business bank account? I see business accounts attract fees, I'm with Barclays. So maybe a second current account would be better so its free but is that allowed? What have you all done?

D x
 
Mine was different. My personal was Barclays my sw account was abbey.

The thing that mostly made me give up slimming world was the tax. Sorting it out is sooooo stressful and I had to pay 22% tax :-(
 
I don't have my accounts with the same bank. I thought it would be easier to keep them separate.

That's a shame Rosie that you struggled with your tax as it is really simple once you get your head round it. I use the Sage accounts app which is so easy to use. The HMRC run webinars to help people who are self employed which are really informative. The help is out there if you are willing to do your research.
 
I just couldn't get my head round it and it's far too much to get taxed with what I was earning

I didn't have time for it all as I work full time
 
I dont understand how to so tax yet, never been self employed before. Anyone know any good links or books on it? Sarah I tried to look for the app couldn't find one called sage accounts is it sage 50 / Sage record keeper / other? Will it work well for SW tax?
 
Well, I have over the last 2 days read all 136 pages of this very interesting and informative thread.
Thank you all for your honesty - positive and negative comments. I too have attended an opportunity event and have decided to put in my application to become a SW consultant. I believe I will be taking over a group and will re-launch in January 2014. A new year, a new career.
I am coming to the end of my maternity leave following the birth of my darling baby boy in November 2012. I have resigned from my well paid but stressful full time job to look after my little boy full time and know that the SW position will be just right for me!
I hear loud and clear about it being hard work but know what that entails - yes, I'm daunted by the leafleting and have no family members local to me (part from my supportive husband!) but will hopefully get help from friends in the area- even if they leaflet in their neighbourhood that will help!
I have yet to hand in my application form and have my interview but feel very positive about the way forward. The people that have inspired me on this thread have been Hannah, Caretaker, Dougal, Purple cloud, Rosie too be honest, there's too many to name!
My weight loss journey is not really amazing as in, I've not lost many stones but I am continuing to lose - with my target being another 1-5 stone away having lost 1stone 4lb already. And to be fair, I'm not sure what my target will be yet as it's all just numbers - I need to see how I feel at the next mini- target to know whether that is my lot of whether I go for more loss.
I hope to pop on here often and post as blogging is my thing! Anyone else just thinking of starting out?
 
DLovesSW said:
I dont understand how to so tax yet, never been self employed before. Anyone know any good links or books on it? Sarah I tried to look for the app couldn't find one called sage accounts is it sage 50 / Sage record keeper / other? Will it work well for SW tax?
Click to expand...

It's called Sage record keeper and so far it seems to be working well. I have been inputting all my expenses and you can input an income (once my group has started). Use the HMRC web site as much as you can. There is so much you can declare for business use which I didn't realise!

Good luck Idt.....no question is a silly question :) so ask away!

They way I look at it is that it's going to be your own business and if you want to succeed then time and effort needs to be put in for your business to grow. So many people give up at the first hurdle but if you have a good TD then they are there to help and guide you through the rough and the smooth. I think one of the reasons the first few months are so tough on a new consultant is to see how well you cope under extreme pressure! It's not going to be an easy ride to begin with but you get out what you put in and I am determined to succeed :))))
 
ldt2911 said:
Well, I have over the last 2 days read all 136 pages of this very interesting and informative thread.
Thank you all for your honesty - positive and negative comments. I too have attended an opportunity event and have decided to put in my application to become a SW consultant. I believe I will be taking over a group and will re-launch in January 2014. A new year, a new career.
I am coming to the end of my maternity leave following the birth of my darling baby boy in November 2012. I have resigned from my well paid but stressful full time job to look after my little boy full time and know that the SW position will be just right for me!
I hear loud and clear about it being hard work but know what that entails - yes, I'm daunted by the leafleting and have no family members local to me (part from my supportive husband!) but will hopefully get help from friends in the area- even if they leaflet in their neighbourhood that will help!
I have yet to hand in my application form and have my interview but feel very positive about the way forward. The people that have inspired me on this thread have been Hannah, Caretaker, Dougal, Purple cloud, Rosie too be honest, there's too many to name!
My weight loss journey is not really amazing as in, I've not lost many stones but I am continuing to lose - with my target being another 1-5 stone away having lost 1stone 4lb already. And to be fair, I'm not sure what my target will be yet as it's all just numbers - I need to see how I feel at the next mini- target to know whether that is my lot of whether I go for more loss.
I hope to pop on here often and post as blogging is my thing! Anyone else just thinking of starting out?
Click to expand...

I agree! You have to see how you feel. For me I picked a weight and then when when I got there I felt I could do another half stone! Maintaining now, feels great!
Can't wait to hear about your journey becoming a consultant. Keep us updated and good luck! I am 5 weeks in and wish I didn't work full time. It's so hard doing both. x
 
Well question number 1:
do you have a separate mobile phone for your SW members to contact and for you to text with?

question 2:
how are you getting on Hannah28 and Purple Cloud? And (sorry I don't remember your name but...) the lady from Stevenage that was waiting for a while for a group vacancy?

Question 3:
has anyone been on the HMRC 'setting up a new business' course and how did you access the course?

many thanks in anticipation!
x
 
The only question I can answer is I only had one phone. As my phone is unlimited calls and texts etc I didn't want to pay two phone bills
 
Hello! Like Rosie I don't have 2 phones. I use the one because I get free texts and calls with my current contract so I didn't want to pay out anymore money than I had to.
I also haven't done much as far as the hmrc goes. Like others I have an app where I record my income and expenses.
I am 4 weeks in and things are going well. What I earn has been up and down and its going to take me a while to start making money because I have spent so much out. The initial franchise fee and then all the extras. And there is a lot of them! Paying for fuel to get to head office 3 times in 4 months and the accommodation. It has cost be between £60-£70 for accommodation each time and then a full tank of fuel. So it costs well over £100 each visit unless you are lucky enough to live a bit close to head office. Head office training is great though! Then all the little things like cash tins etc
It also takes a lot of your time. Working full time and doing this is hard work! I love being a consultant and helping people lose weight, and I have gained so much more confidence over the last few weeks. Even if I didn't work full time I still think there is a lot to deal with if you have a family. You really really have to want it and you also have to accept there will be bad times on your journey as a consultant as well as good. There are so many negative posts on here about being a consultant and now I know why. It's a roller coaster! But you can't be put off by any of the posts. Just take them all as really useful information!
 
Yes!!! Omg so excited, viewed the school today and its perfect, they're going to allow banner and posters and will even put leaflets in childrens book bags for me, I now need to go prepare everything i need for pre training tonight :D can't believe it's all happening!!
 
DLovesSW said:
Yes!!! Omg so excited, viewed the school today and its perfect, they're going to allow banner and posters and will even put leaflets in childrens book bags for me, I now need to go prepare everything i need for pre training tonight :D can't believe it's all happening!!
Click to expand...

congrats on finding a venue xx im up off to HQ this Friday really really excited, then promotion starts !!!!!!!
 
DLovesSW said:
Yes!!! Omg so excited, viewed the school today and its perfect, they're going to allow banner and posters and will even put leaflets in childrens book bags for me, I now need to go prepare everything i need for pre training tonight :D can't believe it's all happening!!
Click to expand...

Oh that's brilliant news!!! What a relief for you. I'm so pleased that it has all come together for you. Enjoy your pre training tonight. You will come out buzzing :) x
 
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