Is your job costing you too much money?

CareerBuilder.co.uk

When you're considering a job offer, you can't help but factor in salary. Money matters unless you've got a sizeable nest egg that lets you spend without care. That is not the case for most workers.

Instead, you have to consider the cost of your rent or mortgage, student loans, monthly bills, food and other expenses. A dream job can quickly lose its glimmer when you realise it doesn't pay nearly enough to survive.

But do you continue to examine your expenses once you've accepted the job? If you're strapped for cash on a regular basis, have you resigned yourself to thinking you need to earn more? Well, until that happens, you might want to examine what your job is costing you, not paying you. Many workers forget the indirect expenses of work, such as wardrobe, transportation and food. If you can cut down or make alternate arrangements, you might be able to boost your bank account even without a pay raise.

Here are six ways your job might be costing you:

1. Clothing and dry cleaning
Whether you wear suits or jeans, clothes cost money and you have to replace your work attire regularly. If you have to wear dress clothes, the up-front cost is already steep, but then you're stuck taking them to the cleaners every week. Or you have to buy enough clothes to go to the cleaners less frequently. Either way, you're stuck shelling out cash.

2. Transportation
To get from your home to your workplace probably costs you money in some form. (If you can walk to work or work from home, you're lucky and saving money.) Public transportation is usually cheaper than driving, but it often takes longer, so it costs you time.
But if you're driving, don't just look at the price of petrol, which definitely puts a dent in your pocket. The back-and-forth of everyday commutes puts more miles on your car, which translates into more maintenance and eventually a need to replace the car sooner than if you worked close to home. And if you have to pay tolls, that's yet another expense to consider.

3. Food
One of the easiest ways to save money during the week is to pack your lunch. Unfortunately, life often interrupts the best laid plans and you end up going out for lunch, which means you spend a few quid here, a few quid there, and by the end of the week you've spent 50 pounds on lunches alone. For many workers, job-related activities take up more than 40 hours each week. From the time you leave in the morning to the time you return home, you might have been gone for 12 hours, and that means you probably don't have time or energy to cook tea. Therefore you'll be picking up food on the way home.

4. Child care
If you have children, you know how expensive it is. The cost of child care depends on many factors, such as the child's age and how long the care is for, but it's never cheap. Several studies have shown that many working parents spend a majority of their paycheques on child care, and sometimes parents who work part-time end up losing money. Unless you have an onsite daycare that saves you money or can arrange a more affordable deal with a friend or relative to care for your child, this expense is one you can't avoid.

5. Housekeeping
OK, housekeeping is considered a luxury by many people, and that's fair. However, if your job takes up so much of your time between hours worked and the commute that you're gone 75 hours each week, you're not left with much free time. Therefore, you might feel inclined to have someone clean your house while you're working so you can enjoy yourself when you get home. A job that takes up less of your time would allow you to do chores without feeling like you're wasting your few hours of freedom.

6. Mobile phone and entertainment
If you have to use your mobile for work, hopefully your company covers the cost. Not all companies do, however, and employees are stuck paying for expensive smart phones out of their own pockets because they're expected to be on call every day. They need to be able to access e-mail and send documents at a moment's notice, and these phones and their service plans are expensive.
Some jobs also involve entertaining clients. Again, many companies provide expense accounts, but not all of them do. If you get stuck taking clients to lunch or drinks on a regular basis, that cost adds up, especially if you're driving them around yourself. Just be certain that you're earning more from their business than you're spending.

Younger people saving less - survey

Only 36 per cent of people aged under 50 save regularly, according to the latest Nationwide UK (Ireland)/ESRI Savings Index.

This compares to 41 per cent of those aged over 50 and a national average of 38 per cent.

The survey indicates that 63 per cent of people in the under 50 age category believe they are saving less than before as against 52 per cent of those aged over 50 years.

While older people are more likely to store away money for a rainy day, they are critical of Government policies, with 64 per cent saying such policies discourage saving compared to 53 per cent of younger people.

“There is a clear pattern of behaviour emerging which shows that people still want to pay off debt or save in preference over spending. However, less and less people are happy with the levels they are currently able to save or think they may be able to save in the future," said Brendan Synnott, managing director of Nationwide UK (Ireland).

"It is also apparent that the over and under 50s are facing different pressures which are affecting their attitude towards saving. The under 50’s group must contend with the expense a younger family brings and larger mortgage debt and as a consequence regular saving, although desirable, is less achievable," he added.

Irish Times


Personally i believe the main reason people are saving less is simple.They have LESS MONEY,its that simple..if you have less money,then saving for a rainy day is not the foremost in your thoughts.I was that person myself not to long ago,i didnt save money,simply because i didnt have any to spare.

I found another way

During these difficult times for so many,saving just isnt a realistic option,that is not unless you can make extra money

Unemployment rates drop due to emigration

THE NUMBER of people claiming unemployment benefits has fallen for the second month running.
According to the latest Central Statistics Office data, there were 439,200 people on the seasonally adjusted Live Register in February, down 1,700 on the previous month.
Despite the decline in claimants, the standardised rate of unemployment remained unchanged at 13.5 per cent, just below the high of 13.6 per cent recorded last year.
The relatively small monthly drop in February was comprised of a decrease of 2,000 men and an increase of 300 women, and follows a drop of 5,800 in January.

The number of Irish on the Live Register has increased by almost 9,500 (2.7 per cent) in the year to February, but the number of non-Irish fell by 2,104 (-2.6 per cent).
Ulster Bank economist Simon Barry said while the fall in claimants reflected the impact of outward migratory flows, it was also consistent with the export-led expansion in manufacturing.

Reported by Irish Times

Dont be a statistic of the recession by finding a second income or for alot of people these days,an actual income

Please leave your comments if you or someone you know has been affected by emigration