Opinions on taking a paycut

hairyslug

For the last few years my job has been getting more and more stressful, it has got to the point now that im starting to take the stress home with me, having an effect on family life and my own health, having a chat with management about my position has become impossible due to that fact that the relationship between my department and them has totally collapsed.

Anyway, I have been offered something that is no stress, will give me a lot more time with my wife and kids but its nearly half the wage, by claiming income support it will nearly make up the difference.

My main worry is that what I will be doing has not future to it, where as what I am doing now has limited but some prospects.

Should I stickk with what I have, grin and bear it or take the hit and sponge of the state (aint happy with that either), I know what I want to do but just not sure

cheers

Delancey

Are you absolutely certain that the difference in pay can/will be made up by State Benefits ?
Even if the answer is Yes it would be wise to bear in mind that with future inevitable cuts in Social Welfare spending a benefit you receive today can be cut or revoked at the next budget.
Have you discussed the matter with your family fully ?

hairyslug

Delancey wrote: »

Are you absolutely certain that the difference in pay can/will be made up by State Benefits ?
Even if the answer is Yes it would be wise to bear in mind that with future inevitable cuts in Social Welfare spending a benefit you receive today can be cut or revoked at the next budget.
Have you discussed the matter with your family fully ?

Yeah we have gone though the finances and it seems to add up we will be short a bit but not much. We have talked about it but we are both unsure, as you said the sw cant be guaranteed but we feel that the stress of the job can be and there is no escaping it and it is effecting home life (another thread for another section)

Mrs OBumble

hairyslug wrote: »

.... but its nearly half the wage, by claiming income support it will nearly make up the difference.

Remember, too, that you pay far more tax on the top part of your income. Roughly speaking, it's:

• virtually none on the first 15k (or 22/23 ish if you're married and joint assessed)
• 20% on 15-32k (hmm, upper limit may be wrong
• 40% on the rest

So thought the salary may be half, the take-home pay is likely to be well more than half.

Forest Master

I'd choose happiness every time. Take the lower paying job - you can't get this time back, so choose something that won't have you stressed & worried. It's a no-brainer IMO, especially with the take-home pay likely to be well more than half.

gline

Forest Master wrote: »

so choose something that won't have you stressed & worried.

However money problems can be one of the worst root causes of stress and worry aswell. So only do it if you know you wont be worrying about finances down the road (especially if an emergency comes up).

shoegirl

Unless you are 60+ and plan retiring in the next 5 years I wouldn't jump into any career path that "has no future".

Be warned that shortages of money can be hugely stressful.

I've gone in the opposite direction to yourself over the last 13 months and have to say that the gain in stress basically switched off the stress I didn't even know existed because of financial worries that I really didn't know I had. Suddenly landing in the opposite direction could come as a nasty shock, especially in a relationship as financial problems tend to have very severe impacts on relationships.

Delancey

shoegirl wrote: »

Unless you are 60+ and plan retiring in the next 5 years I wouldn't jump into any career path that "has no future".

Be warned that shortages of money can be hugely stressful.

I've gone in the opposite direction to yourself over the last 13 months and have to say that the gain in stress basically switched off the stress I didn't even know existed because of financial worries that I really didn't know I had. Suddenly landing in the opposite direction could come as a nasty shock, especially in a relationship as financial problems tend to have very severe impacts on relationships.

As my father says - '' when the wolf comes to the door , love goes out the window '' :rolleyes: