kaled - 11:29 am on Apr 1, 2010 (gmt 0)

When you work for yourself, you must keep outgoings to a minimum - that means getting a few more years out of the car you drive, etc.

Some years ago, a friend set up a business, sold his 3-year old car, leased a £20,000 people-carrier and went bankrupt a couple of years later!

Any financial institution that sees that you are a) working for yourself and b) trying to take out a loan to buy something you don't need is going to get nervous - and rightly so. Entrepreneurs should enjoy making money first - the enjoyment of spending money can come later.

Kaled.