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Where Taxpayers and Advisers Meet

what is the point of working?

grantyellow46
Posts: 1
Joined: Fri Sep 11, 2015 9:40 pm

what is the point of working?

Postby grantyellow46 » Fri Sep 11, 2015 9:44 pm

I take home £430.00 each week after tax and ni deductions, my wages barely pay the bills and put food on the table, im told by hmrc that i am on a higher income so am not entitled to any working tax credits. if I am on a higher income, tell me why we are barely surviving. working only to pay bills, no holidays or hobbies as we are left with no money each week

King_Maker
Posts: 6538
Joined: Wed Aug 06, 2008 3:22 pm

Re: what is the point of working?

Postby King_Maker » Fri Sep 11, 2015 11:31 pm

That's over £20,000 p.a (NET).

Usual suspects :

1. Rent/mortgage etc too high.
2. Car payments too high.
3. Too many kids.
4. Not enough kids.
5. Commuting costs.

Tom7000
Posts: 72
Joined: Wed Aug 06, 2008 3:30 pm

Re: what is the point of working?

Postby Tom7000 » Tue Nov 17, 2015 11:25 am

there are 2 types of people...Those that spend the lot no matter what they have and those that save
If you are in the former category, accept it and make sure you pop something away for a pension.
You could think about getting 2 or 3 buy to lets to generate some more income and it might be part of your pension planning

Limboland
Posts: 8
Joined: Tue Nov 03, 2015 10:50 am

Re: what is the point of working?

Postby Limboland » Thu Nov 26, 2015 8:59 am

Most likely because everything costs so much now and our wages remain the same?

section 44
Posts: 4468
Joined: Thu Oct 30, 2008 12:47 pm

Re: what is the point of working?

Postby section 44 » Thu Nov 26, 2015 10:40 am

blame the bankers

JRG
Posts: 419
Joined: Wed Feb 03, 2010 4:40 pm

Re: what is the point of working?

Postby JRG » Thu Nov 26, 2015 8:43 pm

grantyellow46: You say your take home pay is £430 per week, but you give no details of your outgoings, so it's difficult to advise you on what to do.

In your post you say 'we are left with no money each week'. Does this mean that you have a partner? If so, are they not working?

If you can expand on your finances and family a little some of us might be able to give you some helpful suggestions.


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