Weekly to Monthly Saga

Siobhan7

I’m currently an agency worker working at a really decent company. Currently, I’m on £10.63 an hour but that includes my holiday rate (so if I take a day off, inc a BH I won’t get it paid because it’s already been paid in my rate)
anyway, the company have got two FTC roles available. I want to apply but I’m going to really struggle going from weekly to monthly. 

I can’t take out any form of credit as I was declared bankrupt from Mid 2018 to mid 2019 so it’s still on my record. I do have a credit card at the maximum limit as I had no choice after my car needed some serious repair work at the cost of £1,400. I need my car to get to work.

i don’t know what to do. I’ve got no savings and I can’t save any money. The salary is £18,500 but there’s crazy good benefits and 25 days holiday plus all bank holidays which is more than most companies. It’s not technically a pay cut but it kind of is money wise.

i fear that when my contract is up, there won’t be any other roles and I really want to stay with this company. It took a lot of time to get in, you need SC clearance and all that so it’s difficult to get started again.

really at a loss at what to do!

Savvy_Sue

You could ask if they would be willing to give you an advance in the first month, but they're not obliged to do so and it would need some serious belt-tightening, because we certainly wouldn't give an advance more than once. 

Debt-free wannabe board is best place to get advice on the belt tightening. 

Also worth noting that some of us are finding our expenditure is seriously reduced atm: no cinema trips, no coffees and lunches out, less travel, no frivolous clothes shopping etc. Save like mad while you have to!

[Deleted User]

Get a second job if the contract allows it that pays weekly? I don't imagine it's possible but you never know. Maybe they might stretch out the start date meaning you could start preparing.
(Personally I'd be concerned with the fixed term status right now though too, sorry.)
https://www.mirror.co.uk/news/uk-news/one-six-brits-could-lose-21849752

A new report by the NEF has identified four groups of workers who are at the highest risk of ending up jobless.

They include those on fixed-term contracts, zero-hours contracts, part-time workers and the self-employed.

Siobhan7

Thank you. I have to email my manager tomorrow to discuss whether I was to go ahead with the application so I will mention my only concern and see if they have any ideas.

The fixed term contract thing doesn't bother me. I've been agency there since Nov last year and there are no benefits at all. I am on a new 6 month contract whereas this FTC is 6 months too so I will just be in the same boat just with all the benefits. Also, the company is excellent, throughout this, nobody has been furloughed. They did their best to get us all to work from home, making it so we can take our desktops home as there is a shortage of laptops. Moved people around instead of letting them go due to a lack of work in certain teams. Plenty of agency there and all being utilised. They have really broke their backs to accommodate all of us when it would have just been easier to furlough most of us. It's this attitude that makes me want to stay here  

gettingtheresometime

I'd apply and then (& I appreciate this may not be possible) try and minimise any spending until you know one way or the other so that a tiny cushion could be built up.

do you know when the pay date for the FTC is? Could it be in the middle of the month so you get paid two weeks in arrears & two in advance which may mean it gives you some leeway

General_Grant

Siobhan7 said:

I’m currently an agency worker working at a really decent company. Currently, I’m on £10.63 an hour but that includes my holiday rate (so if I take a day off, inc a BH I won’t get it paid because it’s already been paid in my rate)
anyway, the company have got two FTC roles available. I want to apply but I’m going to really struggle going from weekly to monthly. 

. . .

Do they really itemise your payslip with the rate of £10.63/hour?  That is not supposed to happen.
They could pay holiday pay at the same time but it should be shown separately.
Have they categorically stated you cannot claim holiday pay when you don't work on a bank holiday?
When I left the agency I would put in a claim for my holiday pay.

Comms69

Siobhan7 said:

I’m currently an agency worker working at a really decent company. Currently, I’m on £10.63 an hour but that includes my holiday rate (so if I take a day off, inc a BH I won’t get it paid because it’s already been paid in my rate)
anyway, the company have got two FTC roles available. I want to apply but I’m going to really struggle going from weekly to monthly. 

I can’t take out any form of credit as I was declared bankrupt from Mid 2018 to mid 2019 so it’s still on my record. I do have a credit card at the maximum limit as I had no choice after my car needed some serious repair work at the cost of £1,400. I need my car to get to work.

i don’t know what to do. I’ve got no savings and I can’t save any money. The salary is £18,500 but there’s crazy good benefits and 25 days holiday plus all bank holidays which is more than most companies. It’s not technically a pay cut but it kind of is money wise.

i fear that when my contract is up, there won’t be any other roles and I really want to stay with this company. It took a lot of time to get in, you need SC clearance and all that so it’s difficult to get started again.

really at a loss at what to do!

Are you paid in arrears? I'm paid 2 weeks in arrears, so that i will get paid for two weeks after i start a new role. Agency is usually paid atleast 1 week in arrears. 

Just FYI they shouldn't roll-up holiday pay - unfortunately it's not against the law, it's just a "you really really shouldn't" from the government. But something to look out for in the future.