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Friday 10th August - Welcome to the Dark World of Debt

Blog: Frustrated Businessman
Posted by: knightrider45 Friday 10th August 2007, 8:37am

Isn't it sinister how debt, once it gets hold of you, seems to tighten it's grip on you really quickly, trapping you in a dark world, seemingly forever?

As part of my debt clearance, I'm considering working part time for an agency for a few days a month.

Not being qualified, I'd be eligible for the industrial contracts, which only pay £5.35 an hour (which I think is the minimum pay rate hourly now).

So, for an 8 hour day, I'd be paid for 7 hours at £5.35 (as they stop you an hour for your dinner break). That's a total of £37.45 per day, gross.

Tax & NI at 23% = £8.62 stoppages

Petrol to & from work every day = £5.00

So, after all deductions, I'll be picking up just £23.83 a day.

If I'm out of the house for 9 hours a day including travelling, that makes my "proper" hourly rate just £2.65.

Doesn't it just stink? Okay, the 5 days Agency work a month would give me an extra £119.15. And, in my present state, that £119.15 would really help me out.

But would YOU work for just £2.65 an hour? Do you see how debt gives me no choice in the matter? And how it really belittles me? Over a 31 day month, that Agency work equates to just £3.84 a day.

I am really struggling with this at the moment. Sure, the extra £1,429 a year would really help. It's just the fact that I have a mental problem working for someone for just £2.65 an hour. I believe I'm worth more than that. And no, I'm not vain.

I am supposed to be banking £65 a day, every day of the year. Surely there's got to be a better way of meeting this target, better than being out of the house for 9 hours on a rest day for just £23.83, and still being £41.17 short of the daily need after 9 hours work?

I've cleared enough overtime this month to keep my head above water - just, even though I'm still short even then. So I've got 3 weeks-ish to make a decision. Lets just hope I can get the business to take off again before the end of this month. If not, I'm joining an agency.

I'm reading this book at the moment called "Debt Free Life". I've only read the preface and I'm already in conflict with what it says as it tells me to concentrate on clearing the big bills first, then working down. if I did it this way, clearing the mortgage first, I'll struggle for years, then clear everything else off within the next 12 months. Can't be done - physical impossibility, so I'm doing my way - clearing the smallest bills then working up to the next one the following month.

Mind you, the plans already fell apart, just as I starting it. The heating oil ran out 6am yesterday, again,so I've got to have another (£200) load delivered today, again.

I'm keeping on keeping on.

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