Mark, a 42-year-old self-employed plumber from Birmingham, had a booming business, but his irregular income and lack of financial planning left him struggling to manage his money. Despite having busy months, he faced financial instability during slower periods. He also had trouble setting aside money for taxes and savings, leaving him stressed year-round. After hearing about 4WayPocket, Mark sought financial coaching to bring structure to his finances.
During Mark’s first session, his coach took the time to understand the fluctuating nature of his income and his struggles with setting aside money for both short-term needs and long-term goals. They discussed the challenges of being self-employed and developed a tailored strategy to help Mark manage his business finances, save for taxes, and create a safety net for quieter months.
Coach: "Mark, what do you find most challenging about managing your finances with the business?"
Mark: "Honestly, it’s the unpredictability. Some months I have more work than I can handle, and others are slow. It’s hard to plan, and I usually end up dipping into savings or borrowing to cover bills."
Coach: "That’s a common issue for self-employed professionals. We’ll work on creating a system that smooths out the peaks and valleys, so you’re prepared for slower months without needing to scramble for cash."
Coach: "How’s the income smoothing fund coming along? Have you been able to put aside enough during your busy months?"
Mark: "It’s going well! I’ve already got a decent buffer saved, and it really helped last month when business was slow."
Coach: "That’s great to hear. Having that fund in place can give you peace of mind and help you plan more effectively for the future."
Within a year of working with 4WayPocket, Mark successfully built up a three-month buffer for his living expenses and had a dedicated tax savings account, which made tax time much less stressful. His newfound financial clarity allowed him to focus more on growing his business and less on worrying about cash flow. He even began contributing to a pension fund regularly, something he hadn’t thought possible before.
Mark now has a structured financial system that helps him manage the ups and downs of being self-employed, and he feels more secure about his future. He continues to work with his coach to optimize his business and personal finances as he moves toward greater financial stability.
"Before 4WayPocket, my finances were a mess. I had no plan for taxes or savings, and I always felt like I was chasing money. Now, I’ve got a system in place that makes managing my income much easier, and I can actually see a stable financial future. It’s been a huge weight off my shoulders!"