Is a second job worth it??

lornz23

Hi All,

I currently have a lot of debt and have been considering getting a job to do a few evenings a week. The problem I have is that how much second job tax :mad: you get taken from you so therefore is it worth working my hands to the bone to only end up with £40 extra a week? i really want to start making progress on getting rid of my debt but is there a better way to make money in my spare time?

dancingfairy

Well to start with you in your second will probably be taxed on emergency tax ie 40% but you should get back what you have overpaid back when the tax office work out your total income between your two jobs and calculate the correct tax codes. You should end up as if you had paid tax at the normal rate 22%? on the total of both jobs added together unless your second job takes you into the next tax bracket up which is at 40k a year I think so unless you are planning on earning that much. Lol.


Whether it is worth it it is up to you. You may have to wait until the end of the tax year to get any overpaid tax back.

Have you posted an SOA and had people give their opinions?

Does your current employer specifically say - no extra job?

~Beanie~

I've got two jobs, a full-time one and then 12 hours part-time in a local shop.

My tax allowance gets used on my main job and I pay basic rate tax on the whole of my 2nd job. To give you an idea, I earn £66.24 (it's minimum wage) and take home just over £52 per week.

I know it's not much but my salary from job No.1 is paying the bills/debts and the money from job No.2 pays for petrol and my spending money!

angelflower_2

i too have too jobs and my second job is in a supermarket so not much over min wage. However, i feel it is worth it as it means i am able to start clearing my feet. If I am honest, I do actually quite like my job too....I also have opportunity to increase my income by doing some overtime too which can be handy for holiday time and christmas.

There are many ways you can increase your income (check the up your income board) however, anything significant (ie. over the £40 you stated) should be subject to paying tax.

Do you do clicks, buy everything through a cashback site? Its the hidden ways to save money which might have a bigger impact on you.

hypno06

It amazes me when people say "it is not worth it because I get taxed too much".........

.......Even if you are taxed at 40%, (and ok, none of us like paying tax, but it is a necessary evil) you will still take 60% of it yourself. If that 60% is enough to make a difference in overpayments to debt, general living expenses or just "spending money" then what is there to think about!

If someone turned round and said "here's £1000", but you can only have £600 of it........would you turn that down?? Probably not, so why should the decision be any different just because you get the money in smaller "bundles".

squealy

I have a 2nd job delivering Chinese meals, the tax isn't excessive, I've met some good people, get tips and sometimes steal prawn crackers!:drool:

angelflower_2

squealy wrote: »

I have a 2nd job delivering Chinese meals, the tax isn't excessive, I've met some good people, get tips and sometimes steal prawn crackers!:drool:

hey, thats a great idea....if i dont get to keep my second job (new full time one which clashes with the hours) then I might try that.

xxlaurissaxx

I work two jobs too. I work in a shop part ime 12 hrs a week at nights and get £5.52ph so i walk away with £200 after tax(which is about £50) It is worth it but i am leaving due to lack of time to myself and tiredness. 9am-10pmisnt as easy as it sounds. But if you want to clear debt then go for it. It does make a huge difference to spending money at the end of the month. xx

xxlaurissaxx

squealy wrote: »

I have a 2nd job delivering Chinese meals, the tax isn't excessive, I've met some good people, get tips and sometimes steal prawn crackers!:drool:

mmmm just started a diet today and now i want a chinese!

squealy

mmmm just started a diet today and now i want a chinese!

Just make sure you tip!:p

Badger_Lady

I've never worked fewer than 2 jobs! My record is 7

As hypno06 says, it's a way of earning money - the amount at which that money is taxed has very little bearing if you need extra cash. It's a choice between:
1) Get off your bum and earn more money, or
2) Sit around moping that you haven't got any.

Particularly if you're a decent grafter and a bit creative, you can get a 2nd job that pays well over minimum wage... last year I was working early mornings in a sorting office for £7.60 an hour.

At the moment, my part-time work is only casual (I have so much free time now!) - I do security work at events, which pay £6-odd an hour but are also very enjoyable as I get free entrance into those events... and I also do a bit of nude modelling for £10 an hour, which I'm very proud of because it means I'll have some beautiful art pieces to look back on when I'm old and withered.

Those extra jobs have given me the financial freedom to pay off my debts, get on the property ladder and now to indulge in "luxuries".

Is it worth it?