What would you do?

goodwithsaving

Thank you all for your replies. It's greatly appreciated.

TELLIT01 wrote: »

I wouldn't have taken a job which required a 4 hour commute each day, but that is down to personal choice.

Circumstances have changed since I took the job. It was initially an hour each way (so, 2) but with work shuffles and my own shuffles, the time has grown over the past few years.

Flyonthewall wrote: »

perhaps you could look at what you spend now and see if you could cut down spending in other areas or if less travel would affect spending in less obvious ways. Perhaps now, for example, you eat out more or get fast food/take-aways a lot due to being tired and not wanting to cook?

There's nothing to chop off as I am a very good saver. Everything is cooked at the weekend ready for weekday evenings. What I'm looking at with a reduction in pay is reducing the monthly savings by (IMO) quite a substantial annual amount which is going to have its impacts long term with paying off the mortgage etc in addition to pension change impacts. I've seen the impact that not saving while younger can have and want to avoid that. I think the younger generation are going to be hard hit by reforms and I don't want to be one of the ones who has to work until we're 75.

shortcrust wrote: »

How many hours do you get to yourself of an evening?!

About 3 depending upon how the travel goes. Always too tired to do anything. It's not so much the evenings that both me but the very early starts and lack of sleep - the winter is the worst.

I've applied and am in a good position but I guess this doesn't apply to solely this job, but any other which may come up too (they come up infrequently).

Tricky!

Takeaway_Addict

shortcrust wrote: »

A 10k pay rise wouldn't persuade me to do a 4 hour daily commute. I don't think any amount would. How many hours do you get to yourself of an evening?! I'm not the most energetic type and I don't think I'd have a proper life outside of work during the week.

£50k extra? so prob earning £65k+

welshbookworm

Perhaps it might be worth considering renting a room from Monday night to Thursday night nearer where you work?
It would reduce your traveling costs so might not increase your costs overall, it would definitely increase your energy levels.

lazer

A £10k gross paycut, is actually £6,800 net which is £566 a month.

(This is assuming no pension contributions, no student loan and basic rate tax payer)
It could actually be less and probably less - are the pension contributions less in th new job?

Run the figures through listen to the taxman and see the real monthly difference.

I took a £6k paycut for better hours and better holidays, best decision i have ever made!

goodwithsaving

Thank you for your comments.

The £10,000 is gross, that's right. (It's actually nearer £11,500 but I'm rounding down to make it easier). The £6600 loss is net pay i.e. after deductions have been made. I took the take home I currently have, vs. the take home I would get and took off travel for both. Then figured out the difference.
The pension contributions are the same percentage as currently (but on a different scheme).

Takeaway_Addict wrote: »

£50k extra? so prob earning £65k+

I wish I earned that much. Then it'd be a no-brainer - I'd stay! I'm on significantly less. A third and a bit less. (I know this was directed to another poster).

Flyonthewall

goodwithsaving wrote: »

There's nothing to chop off as I am a very good saver. Everything is cooked at the weekend ready for weekday evenings. What I'm looking at with a reduction in pay is reducing the monthly savings by (IMO) quite a substantial annual amount which is going to have its impacts long term with paying off the mortgage etc in addition to pension change impacts. I've seen the impact that not saving while younger can have and want to avoid that. I think the younger generation are going to be hard hit by reforms and I don't want to be one of the ones who has to work until we're 75.

Fair enough. One of the first things you said though was this:

goodwithsaving wrote: »

I commute 4+ hours daily and while I enjoy work, I am always tired and my health isn't as good as it was.

Is it better to possibly work a few extra years and be healthier and less tired or better to have money, no time, poorer health and work a few less years?

You can do things to save money being a problem when earning less - house with a smaller mortgage, do things to keep bills as low as possible, find the best deals etc. You've already been saving money. Maybe you could do overtime and get more money? Is there even a chance that this job would match your current salary? There may be other jobs nearer to you which offer more money or you could always switch jobs later on. You can't do anything for health and tiredness.

Not saying you should leave that job, but I'd think carefully about things. You're clearly considering whether to change jobs so if not this job then perhaps another job in the (near) future. Certainly doesn't hurt to apply and see where things go.

martinsurrey

if the net income change before commute loss is £6800, how does reducing your commute by 3 hours only save you £200 a year, not saying it isnt possible, but can you explain your numbers, as it might give more room?

goodwithsaving

Hi Martin

I did it like this:

Take home current
Take home new

Then, Sum of (Take home current - travel) - (Take home new - travel)

Then divided by 12 to get an average.

I used the salary calculator site to acquire take home figures for the potential new.

I don't overly want to paste numerical values here but am happy to PM you. I do value all advise posted on here, however. Flyonthewall, you have made some very good points. Work longer but be happier, or work fewer years but have no life.

martinsurrey

goodwithsaving wrote: »

Hi Martin

I did it like this:

Take home current
Take home new

Then, Sum of (Take home current - travel) - (Take home new - travel)

Then divided by 12 to get an average.

I used the salary calculator site to acquire take home figures for the potential new.

I don't overly want to paste numerical values here but am happy to PM you. I do value all advise posted on here, however. Flyonthewall, you have made some very good points. Work longer but be happier, or work fewer years but have no life.

yeah, can you PM just the commute numbers please.

I'll calc based on an £11800 reduction all as a basic rate payer

cheers

goodwithsaving

Thank you I like this forum. everyone is always so helpful!!!