Why It's Not Worth Working A Second Job To Clear Debts

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31st January 2010

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Why It's Not Worth Working A Second Job To Clear Debts

Blog: Break Up
Posted by: Wednesday 13th January 2010, 9:35am

I've just turned down a second part time job, or at least, decided not to apply for it. The job pays Â£6.50 an hour and I would have worked every weekend, making my working week seven days weekly.

This flies against my self imposed debt management plan, and it's a decision I haven't taken lightly. So why did I turn it down?

Its a conscientious decision. Working 8 hours two days weekly, less half hour for a dinner break (lunch as some people call it here), would give me a total of 15 hours weekly. 15 hours at £6.50 equates to a weekly wage of £97.50 a week, which on the face of it is good. Take off tax and national insurance though, which I've worked out to be £22.43 a week (at 23% - which would probably be more as it would be classed as a 2nd job) leaves me with £75.07.

The job's in Taverham, which would cost me £7.00 a day diesel to get there, so that's another £14.00 off the grand total, which means that I would only be £61.07 in profit, or a total of just over £30.53 a day. The £61 weekly pick up pay is still a good sum, but the truth is, I can get that from a car boot in one day, especially if I back that up with ebay sales.

But, even more than that, I'd get more than that staying at home, booking my weekends off as holiday from my job, and working the car boots and ebay. I'd double my weekend take home pay by working my holidays and adding car boots and ebay to the equation.

That's why it's not worth working a job to clear my debts. I can do far more myself by leaving myself free.

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