To take higher paid job or not?

DebtHurricane

I’m in about £9000 of debt. Im currently ignoring my creditors and paying nothing so they all default me nice and early. It’s worked so far.... Meanwhile, I have been trying to follow advice on here about saving an EF and then starting a dmp (either with Stepchange or self-managed). 

I work part time (3 days a week) in a management position in a relaxed environment, but the pay is only just above minimum wage. So I take home about £730 per month. Enough for bills and NOTHING else, so carrying on with this job means I’ll never clear debt or be able to save anything. 

I have been offered a new job, which is 30k per year. It’s 5 days a week in London, in a call centre. It’s double the hours I’m currently doing and it would mean a 3 hour commute total per day.  It means I’d take home £1300 after my travel to work is paid for, so suddenly the ‘good pay’ is reduced quite a lot. 

I suffer with anxiety and have had time off
work many times in the past. But I also feel like as I’m in my mid twenties, I should be working full time and earning enough to at least have a life. 

I cannot make a decision as much as I have tried to weigh up the pros and cons. Do I take the job and clear my debts and live a bit, but then be knackered and have no free time to explore my other ambitions, or carry on as I am until I find a higher paid job more local? 

theoretica

What are the prospects for either a higher paid job locally, or another part time one to pair with the one you have?  Would moving nearer the London job be an option to avoid the 3 hour commute?

DebtHurricane

I’m in Essex and there doesn’t seem to be much around here apart from retail which is lower paid than my current job. I was thinking about moving closer to London. Might look into the cost difference. But worried about passing credit checks for rental properties as my current landlord needed a guarantor and I don’t have that option if I move again. The plan was to stay in this house until my credit files are clean. 

middleclassbutpoor

What if the answer was just work more hours where you are? Or get a full time job where you are if its close to min wage - seems a lot of stress for not much reward - commuting 3hrs a day - cancelled trains etc.  It sounds as though if you could get a full time wage which £20k that should be about £1400 a month and you will have less travel stress. 

DebtHurricane

I think you’re right. Also call centre would mean 8 hours on the phone. Constantly. Think that’s why it’s paid fairly. If I still lived in London it would be a no brainier, but I think I’ll be miserable 

DrEskimo

It's a difficult question. I've been working in London for a good few years now, and have around a 2hour commute total. I'm used to it now, and generally spend my time working on the train. I am fortunate that I love what I do though. I will also say that I too suffered some anxiety issues a while back, and I actually found having a strict routine helped me manage my symptoms. When I was studying for my PhD I could always find reasons to not go in, or avoid situations that slowly made the anxiety worse. Forcing myself to have to commute and be in long hours pushed me out of my comfort zone and I developed strategies to manage my symptoms.

It was difficult, and of course you may have a very different experience, but thought I would share!

Are you sure it would only be £1,300? I live in an area with high commute costs, and a season ticket is £450per month. I calculate a £30k salary with a 5% pension contribution would be around £1,900, so is your monthly ticket really £600?

middleclassbutpoor

For me, if you could double your take home - keep they lifestyle you have - you won't need a DMP - you can pay everything off.  Don't have a DMP or debts hanging around you for 6 years waiting for a letter or a knock at the door. 

[Deleted User]

Perhaps re.explore the interview question/answer - why are you looking to leave your current position?
I’m really so, so torn sometimes when a company will pay mega bucks there is a good reason behind it. (eg. the job is never to last long, out of the world targets and expectations, horrid situations, brand new wardrobe to fit in) to interviewers thinking they are rescuing you for wrong reasons. I know when I had a 5 year job the one thing was while it was poorly paid (approx 12k 2007-2012 time) it offered longevity and settleness.  Nothing focuses the mind like when you have to see a company smalls to know what’s its all about.
Good luck whatever you choose.

DebtHurricane

DrEskimo thank you for sharing, it’s helpful to hear your experience. I have double checked, it is indeed £450 per month for a season ticket. However, I originally calculated £600 because the train station is 25 mins from my home. So parking at the station works out at £140 per month. 

Middleclassbutpoor- I was expecting to only be able to make tiny payments so I’ve let most of my debts default. I know what u mean though, pay off as much as possible but if they’re stuck on my credit file for 6 years anyway is it still beneficial to pay them off as fast as I can? I guess then I’d have free money to save and improve my lifestyle though once it’s paid. 

Problem is, any job I do is not going to fully satisfy me anyway. I’m a performer (trained and worked professionally) and I usually worked part time in order to have time to attend auditions ect. although the last couple of years my career and motivation have taken a real back seat due to mental health. 

If only we could see the future!!!

theoretica

Your current job has two issues, if is both close to minimum wage and it is part time. What about keeping your current job but trying to add some retail shifts when you aren't working there - they would probably also be minimum wage, but would add hours and earn more that way.

middleclassbutpoor

Yes, my advice would be the same regardless of your credit file. Get them settled and fully paid. Doing a DMP wouldn't seem appropriate for you if you could clear them realistically within 12 months.