Financial Situation

Shashy

Bendy1224 wrote: »

sorry everyone seems I have not been too clear with my wording. my benefit that I am currently receiving is coming to a end I have a nasty feeling and possibly will have to get myself into a full time job.

That nasty feeling is called life, mate.

Not sure how many more times people can suggest it, but the salary calculator recommended above allows you to input a hypothetical salary, say £20k, and will then show you how much you would take home from this pay.

Rub that number up against your outgoings - if it's not enough, increase the hypothetical salary until it reaches a monthly take home number that you're comfortable with. That will be what you 'need' to earn.

agrinnall

Bendy1224 wrote: »

whats the best way to work out what yearly or monthly salary I need to take home each month. finding im going round in circles in my head as just say my expenses was £1400 each month and I put this into a income calculator it will then deduct 20% of tax and necessary NI deductions of the income I entered so then will be left with not enough to pay the whole of my out goings for that month.

The problem is that you're not reading what you're being told. As nyermen said, a reverse salary calculator is what you need. This is the one that I usually use, and the link takes you directly to the reverse salary calculation page.


https://www.thesalarycalculator.co.uk/lifestyle.php

Bendy1224

agrinnall wrote: »

The problem is that you're not reading what you're being told. As nyermen said, a reverse salary calculator is what you need. This is the one that I usually use, and the link takes you directly to the reverse salary calculation page.


https://www.thesalarycalculator.co.uk/lifestyle.php

thank you mate. I struggle sometimes understanding exactly what people are trying to say to me. thanks again for your post bud :money:

Bendy1224

right ok mate. brill. so is it possible to earn 2000k a month on earnings. im from the uk ? im definitely going to have a heart attack if you say no lol..

eskbanker

Bendy1224 wrote: »

right ok mate. brill. so is it possible to earn 2000k a month on earnings. im from the uk ? im definitely going to have a heart attack if you say no lol..

We'd all struggle to find a job paying two million quid a month but two thousand a month isn't far off the national average, although your own ability to earn that will naturally depend on what skills, qualifications and experience you have, where you live, etc....

Neil_Jones

Bendy1224 wrote: »

sorry everyone seems I have not been too clear with my wording. my benefit that I am currently receiving is coming to a end I have a nasty feeling and possibly will have to get myself into a full time job. whats the best way to work out what yearly or monthly salary I need to take home each month. finding im going round in circles in my head as just say my expenses was £1400 each month and I put this into a income calculator it will then deduct 20% of tax and necessary NI deductions of the income I entered so then will be left with not enough to pay the whole of my out goings for that month. hope I have been clearer this time around. apologies ive made this so confusing..

Ben

As above with online calculators OR you can use Excel on your computer (or a free alternative).

If you live on your own in a one bedroom flat your outgoings will be lower than if you live with a partner, four kids and a dog in a four bedroom house. If you want a rough guide, I crunched my outgoing numbers regularly (I live alone) and last time I worked it out to cover them all, including food, treats, petrol and contingency means I need just over 18.5hrs a week on minimum wage (I deliberately inflated my figure so I may not even need that). The more hours I can do the better.

By the way if you do find your expenses are £1400 a month and you figure out your income even on full-time hours at minimum wage still don't cover them then you need to do what everybody else does in this situation - cut back as far as possible.

AnotherJoe

Bendy1224 wrote: »

sorry everyone seems I have not been too clear with my wording. my benefit that I am currently receiving is coming to a end I have a nasty feeling and possibly will have to get myself into a full time job. whats the best way to work out what yearly or monthly salary I need to take home each month. finding im going round in circles in my head as just say my expenses was £1400 each month and I put this into a income calculator it will then deduct 20% of tax and necessary NI deductions of the income I entered so then will be left with not enough to pay the whole of my out goings for that month. hope I have been clearer this time around. apologies ive made this so confusing..

Ben

You wouldnt put £1400 into a calculator. You'd put a higher number in (just guess to start with, say £1600 to start) and see what comes out and if its less than £1400 put an even higher number in and keep doing that until its higher than 1400.

agrinnall

AnotherJoe wrote: »

You wouldnt put £1400 into a calculator. You'd put a higher number in (just guess to start with, say £1600 to start) and see what comes out and if its less than £1400 put an even higher number in and keep doing that until its higher than 1400.

But unnecessary if a reverse salary calculator is used, such as the one that I already linked to.

AnotherJoe

agrinnall wrote: »

But unnecessary if a reverse salary calculator is used, such as the one that I already linked to.

True, just pointing out the the OP the "bleedin' obvious' thing to do if they do continue with their salary calculator.

Tigsteroonie

Bendy1224 wrote: »

right ok mate. brill. so is it possible to earn 2000k a month on earnings. im from the uk

What kind of job? What skills do you have? What experience? It is entirely possible to earn £2000 per month if you are successful at getting a job which pays that.

But none of us can say whether you will get such a job. We know nothing about you other than your need to get a job.

You do realise it's quite hard to get a job, don't you? You can't just walk out of your front door and find a job, especially one that pays £2000 per month. There are thousands, nay, millions of people in this country looking for jobs.