Please help - I'm literally paying to work!

Suzkin

Dear All,

I suspected my situation was bad - but now I know just how much bad (see below).

I'm doing a job in London as there isn't much employment where I live (the idea being to try to get my career back on track..), but it only pays £8.50 ph for 26 hours a week. The wages in the grid are really an estimate, as I haven't yet actually been paid this much - I get paid by the hour for each hour I work, with no benefits etc. I don't even earn enough to contribute to a pension, which makes me feel really bad


I'm having to commute to London from the South 5 days a week, and so from now on will be purchasing a season ticket. I can't let the house, and rent up there, as major building work needs doing, which I cannot afford (and have not actually factored it in). It's a 1-bed house, so I cannot even take a lodger!

What do people think? The job goes on until end June 2009. I was unemployed before this, and although better off on contribution based JSA (i.e. only approx. £60 down every month), I need to keep myself sane and occupied with 'real' employment (I did some voluntary work for a short while, while unemployed). Having looked at the figures below now though, I'm now starting to doubt my current job. I don't really have a social life or any friends, and I try to live frugally, which all makes for a miserable life.

Sorry to be such a big cry-baby: I'm confused, and feel quite dispirited. Any advice, comments, strategies gratefully received.


Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 745
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 745

Monthly Expense Details
Mortgage................................ 160.15
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 80
Electricity............................. 10
Gas..................................... 16
Oil..................................... 0
Water rates............................. 17.01
Telephone (land line)................... 10.5
Mobile phone............................ 0
TV Licence.............................. 11.29
Satellite/Cable TV...................... 0
Internet Services....................... 9.99
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 448.2
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7.1
Pet insurance/vet bills................. 0
Buildings insurance..................... 9.5
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Education / Evening Classes............. 34
Total monthly expenses.................. 853.74

Assets
Cash.................................... 19000
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 129000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 16230....(160.15)...5.55
Total secured debts........... 16230.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 745
Expenses (including secured debts)....... 853.74
Available for debt repayments........... -108.74
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ -108.74

Personal Balance Sheet Summary
Total assets (things you own)........... 129,000
Total Secured debt...................... -16,230
Total Unsecured debt.................... -0
Net Assets.............................. 112,770

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

======== Enter any other useful information below ========

e.g. the number of adults & children in the household, the number

of cars included in the SOA or anything else that may be useful.

dancingfairy

Hi. It's really dificult right now for everyone with the employment thing. I was unemployed for 7 months so I know how horrible it can be.
You are only working 26 hours a week? is there a possibility of doing some more hours? or maybe taking a weekend job/evening job in a bar? so you can see your mates and earn a bit of money as well?
I think your main options are carry on with the job as long as you can and accept that thing will be tough for a while.
Increase your income somehow- mystery shopping,surveys,clicks,selling on ebay, second job, etc
Try and find a job closer to home.

What field are you in? is there anything you can do that will help you gains some skills more locally to you?
df

dancingfairy

Have you looked at Martins article on cheap travel to see if splitting your yourney would be cheaper? getting a railcard? getting 2 singles etc?
df

whitewing

If you don't mind us being nosy, it may help if you tell us what times you work each day. Could you work same no of hours but over 3 days to cut down on travel? Are you travelling during rush hour? Would it be cheaper to find accommodation during the week (eg lodging for say 4 nights a week) and go home at the weekend (I'm not looking at your SOA at the moment)

Edit- May also affect cost of your home insurance.

10past6

Have you considered a car share scheme, there quite popular, maybe post something at work asking for suggestions, I'm sure there are many people travelling into London in the same position as yourself.

locutus2003

I'm sorry to read this - I work in London and live in Bedfordshire and my season ticket costs me £3700 pa - it's much, much cheaper to buy a season (annual is best but monthly is better than weekly) - but I'm lucky as I get an interest-free season ticket loan from work. Can they do anything like that for you? Your ticket seems really expensive to me - but of course I don't know where you're going from/to. The other option could also be to just get a season ticket to your nearest National Rail Station and then walk - could you walk to where you work (reasonably)? That would at least save you the Zone 1 part of the ticket.

Alternative is coaches - if there is one in your area they're are about a third of the cost of the train - take longer but are cheaper. There are lots from Kent and around there I think (I know because they normally seem to aim for me while I'm crossing the road!).

scaredy_cat

i think you should find another job more local to you - over half your money is going on travel and that is a bit ridiculous! You can't live like that, you'll be getting deeper into debt.

The other thing i can think of is to ask for a pay rise!

Suzkin

whitewing wrote: »

If you don't mind us being nosy, it may help if you tell us what times you work each day. Could you work same no of hours but over 3 days to cut down on travel? Are you travelling during rush hour? Would it be cheaper to find accommodation during the week (eg lodging for say 4 nights a week) and go home at the weekend (I'm not looking at your SOA at the moment)

Edit- May also affect cost of your home insurance.

I start work: Mon & Tues 1pm, Wed & Thurs 9.30am, Fri 1pm.

Work recently extended my hours to the two mornings after a lot of begging (I was originally employed for only a meagre 20 hours). There is nothing more available, and I cannot negotiate consolidating the hours together - it's totally fixed.

I've looked at Martins brill piece on travel etc. but unfortunately, I don't qualify/cannot see any way I can save anything. I go from the main station to Waterloo, and then from here to a central London tube. I cannot walk from Waterloo to work as it's simply too far. I started paying for each day separately, but this adds up with the underground. I've considered taking the coach, but psychologically, I just cannot stretch to it, in terms of duration and start / end times. I've even considered taking train up and coach back, and vice versa, and megabus services, but Megabus times do not coincide with my work times etc.

I've looked into renting - even for one or two nights in London, but the YouthHostels charge approx. £20 per night: add on say £5 for food, and this is a bit more than my daily travel.

I'm in a catch 22 situation: 'gridlock'!

whitewing

I'm also thinking what would happen if you shell out for a season ticket and then the job finishes early. Can you get a refund on it? I'm still thinking lodging may be better than travelling, and might leave the option of taking on some additional work.

Suzkin

locutus2003 wrote: »

I'm sorry to read this - I work in London and live in Bedfordshire and my season ticket costs me £3700 pa - it's much, much cheaper to buy a season (annual is best but monthly is better than weekly) - but I'm lucky as I get an interest-free season ticket loan from work. Can they do anything like that for you? Your ticket seems really expensive to me - but of course I don't know where you're going from/to. The other option could also be to just get a season ticket to your nearest National Rail Station and then walk - could you walk to where you work (reasonably)? That would at least save you the Zone 1 part of the ticket.

Alternative is coaches - if there is one in your area they're are about a third of the cost of the train - take longer but are cheaper. There are lots from Kent and around there I think (I know because they normally seem to aim for me while I'm crossing the road!).

Hi there, It seems our posts have coincided! And I've answered your helpful suggestions. No - I'm a temp from my employers perspective, and so I receive no benefits at all.

Scaredy_cat: I understand what you say about seeking other work, but I really need my career back. In between being unemployed several times where I live, I've worked in call centres (miserable) AND the very few call centre jobs around here are pretty dead end. I do not own a car, and so cannot even get out to the surrounding areas of my County, where many of them are.

paybacktime2008

Can you claim council tax benefit?