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how will this effect the likes of me?

  • 24-11-2010 8:33pm
    #1
    paddy1909
    Closed Accounts Posts: 18 ✭


    how will the failure of the irish economy effect the likes of me- a 26 year old with a part time job and studying a part time course for a year?
    i get paid 10 euro per hour in my job- will this be lowered?
    what day to day things will have a reverse effect on me?

    also regarding my current account and other peoples current accounts for that matter, are our finances safe? is our money in our ATMs going to be safe always? surely it would count illegal for the government to take our hard earned money from us...?

    should i switch to a different bank acc or are irish bankj accs safe?


Comments

  • #2
    wylo
    Registered Users, Registered Users 2 Posts: 2,214 ✭✭✭wylo


    If we take the bailout your money is safe, if we dont im not sure, id like someone to answer that one actually.(i.e. defaulting)
    As for how it will affect you? Only your company can tell you whether theyll drop your wage or not, but if they are in any way struggling this will be a ticket for them.
    you may also start having to pay tax even as a parttime earner.
    things may start costing more soon also.


  • #3
    later12
    Closed Accounts Posts: 11,299 ✭✭✭✭later12


    Your current rate of pay -
    Not guaranteed to be lowered, but on that rate, and considering it's part time, it is entirely possible if not likely. How likely it is, is between you, your contract and your employer. The general consensus, however, is that this minimum wage alteration is going to change the entire make-up of the wage structure, so the answer is a reserved 'yes', it will fall.

    As regards your bank account -
    You are more than likely safe, at this point it is highly unlikely that any adverse effect on your saving is down the line. Then again, i stopped reading economics textbooks long ago, the rules are still being re-written.

    Most of the other changes are pretty self explanatory - if you're a student, the registration fee will rise, VAT will increase by a couple of percentage points over the next for years, and if you receive any back to education allowance or benefits, those will be cut.


  • #4
    wylo
    Registered Users, Registered Users 2 Posts: 2,214 ✭✭✭wylo


    Truth is , none of us will know properly till the budget, that 4 year plan is far too vague to be able to answer any questions.


  • #5
    paddy1909
    Closed Accounts Posts: 18 ✭paddy1909


    wylo wrote: »
    If we take the bailout your money is safe, if we dont im not sure, id like someone to answer that one actually.(i.e. defaulting)
    As for how it will affect you? Only your company can tell you whether theyll drop your wage or not, but if they are in any way struggling this will be a ticket for them.
    you may also start having to pay tax even as a parttime earner.
    things may start costing more soon also.

    cheers for this wylo...
    you say i may start having to pay more tax... if this is the case, when will this come into effect??
    could it be next week or next year or what? id like a date


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