Working two jobs, 7 days a week

Away With The Fairies

I'm not getting any younger. I'm almost 40 and I don't have my own house.

A couple of weeks ago, I applied for a new job, Monday to Friday with 800euro a week salary and I have an interview. So I'm thinking positive about this.

Thing is where I'm working now, I've been asked would I be interested in changing shifts after Christmas. It's a weekend shift and it's good money as well, it's 300 euro for the two days.

This is all before tax, so not sure how much I'd be coming out with after tax. But it would be slightly better than what I'm earning now.

It's very good money and with things being quite with covid, for once I'm thinking I could save up for a deposit at the very least.

Is this a good idea?

Caranica

Away With The Fairies wrote: »

I'm not getting any younger. I'm almost 40 and I don't have my own house.

A couple of weeks ago, I applied for a new job, Monday to Friday with 800euro a week salary and I have an interview. So I'm thinking positive about this.

Thing is where I'm working now, I've been asked would I be interested in changing shifts after Christmas. It's a weekend shift and it's good money as well, it's 300 euro for the two days.

This is all before tax, so not sure how much I'd be coming out with after tax. But it would be slightly better than what I'm earning now.

It's very good money and with things being quite with covid, for once I'm thinking I could save up for a deposit at the very least.

Is this a good idea?

I wouldn't recommend it for your physical or mental health. It's not like you're a farmer where 24/7 is part of the deal.

Also from a financial point of view you'll be well into the top tax bracket. So your before tax figures will be well down.

The Phantom Jipper

Away With The Fairies wrote: »

I'm not getting any younger. I'm almost 40 and I don't have my own house.

A couple of weeks ago, I applied for a new job, Monday to Friday with 800euro a week salary and I have an interview. So I'm thinking positive about this.

Thing is where I'm working now, I've been asked would I be interested in changing shifts after Christmas. It's a weekend shift and it's good money as well, it's 300 euro for the two days.

This is all before tax, so not sure how much I'd be coming out with after tax. But it would be slightly better than what I'm earning now.

It's very good money and with things being quite with covid, for once I'm thinking I could save up for a deposit at the very least.

Is this a good idea?

Caranica makes a good point, maybe take a look at the after tax earnings and see if it's worth your while. 7 days a week sounds rough and may not be worth the toll once tax comes into the equation. Link below is handy for this.

http://services.deloitte.ie/

myshirt

Your name tag is perfect. Away with the Fairies. Don't do it.

Yes, with the right diet, sleeps schedule, and strict discipline it is doable.. but not over a long period. Only a short burst.

You may earn 1,100 week on week, but when it starts hitting you incrementally you'll feel the pinch and find yourself on a steep slope to zero.

800 over 52 weeks is better than 1,000 over 12-15 weeks.

DubCount

I reckon what you are talking about is not allowed under the Organisation of Working Time act which requires you to receive 1 day off in every 7 day period.

Apart from the law, your mental health will not sustain working 7 days per week

Low Energy Eng

Working 7 days will burn you out. You'll end up spending money on convenience due to your tiredness eg, buying quick meals, more taxis etc.

If you spend a few hours prepping for your week on the Sunday you can save a lot of money and you'll be healthier for it.

Long term i certainly wouldn't recommend 7 days.

Wildly Boaring

Caranica wrote: »

I wouldn't recommend it for your physical or mental health. It's not like you're a farmer where 24/7 is part of the deal.

Also from a financial point of view you'll be well into the top tax bracket. So your before tax figures will be well down.

Yep the 800 a week will put you just into the top tax bracket.

So your 300 for the weekend will all be at the top rate.
approx €150 a week after tax minus travel and any other expenses (lunch/coffee etc)

After a few weeks/months you will burnout eventually and possibly end up missing time from your real job.

Henrys Grimey Paws

I did this for 8 weeks as a student whilst saving up to go inter-railing. I had 2 jobs one Monday to Friday 1pm to 9pm and then another weekend job working retail 9 to 6.

It was doable purely because there was an end in sight but I was exhausted by the end of it, I wouldn't recommend it as a long-term option. Mentally it does take a bit of a toll as you've no extended free time, you're either just back from work or getting ready to go to work. My scenario was probably made a bit easier because my weekday job didn't start till 1pm so I could lie in but you have no time to reset from working if that makes sense.

Away With The Fairies

So you guys wouldn't recommend it. Thought it would be a good idea but yeah it would be tough going. I just thought with covid, I'm not going out at weekends, or going to concerts or anything that it would be doable, since I'm doing nothing. Hope I get the 800 a week job because I can still save a decent amount and I'll think about the housing situation again after I've saved up a bit.

antimatterx

Caranica wrote: »

I wouldn't recommend it for your physical or mental health. It's not like you're a farmer where 24/7 is part of the deal.

Also from a financial point of view you'll be well into the top tax bracket. So your before tax figures will be well down.

If he's going for a mortgage, he needs to get his gross salary up. Regardless of the tax figure, he's coming out ahead.

I worked 7 days a week while on a 6 month placement in 3rd year in college...... kept up my part time job......... Friday evening 6 to 9pm, Sat 9am to 6pm and Sun 2pm to 6pm.

Neither job was tough but I found it very tiring by the time month 5 and 6 came around.

Much harder than college and part time working...... at 40 I'd not reckon 7 day weeks are a good idea. As mentioned after tax your weekend gig will give you 150/week .......... not a huge reward for your time.

boomshakalaka

Even with the 2 jobs you'd be pushed to get approval for a mortgage on that salary as a single person.

Slow and steady wins the race.

boomshakalaka

boomshakalaka wrote: »

Even with the 2 jobs you'd be pushed to get approval for a mortgage on that salary as a single person.

Slow and steady wins the race.

You'll get approval for 3.5 time your actual salary, they mightn't take the part time gig into account. No problem getting mortgage approval....... the problem folk experience is what properties fall into the approval range.

Feisar

Low Energy Eng wrote: »

Working 7 days will burn you out. You'll end up spending money on convenience due to your tiredness eg, buying quick meals, more taxis etc.

If you spend a few hours prepping for your week on the Sunday you can save a lot of money and you'll be healthier for it.

Long term i certainly wouldn't recommend 7 days.

A lot of this.

Now I don't know your situation, maybe you have cut spending to a minimum already so please ignore the following if you have.

Do you buy tea/coffee during the working week? Invest in a good flask and brew yer own at home. Three coffees a day amounts to circa €2,250 of ones gross income a year.
Make yer own lunches. Also, stop buying lunch meat/packet ham, it's mad expensive. Buy a full ham and boil it for sambos. Along with some homemade soup it makes a fairly substantial meal.
Look at yer electricity/broadband providers you need to be looking for better deals every year.

FionnK86

Read contract in new place - most don't allow 'moonlighting'.

I was in same situation 4 years ago, kept a Saturday for the hours despite starting new 9-5. I told new employer at time I was just fulfilling notice period but kept it up for a year. If I was caught I probably would've got a written warning and lost boss' trust.

I didn't want to lose money so I kept it up but it became a nightmare trying to hide it and pretty sure one or two girls worked out what I was at. The tax didn't hit me too hard, but be mindful you sort your bracket out at year end - I got €4000 back because I was overcharged in one of the two.

silent_spark

I've done this (for just over three years). It's doable for a defined period of time, particularly if you have a clear goal in mind (like a house deposit). I wouldn't do it again, but it put me in a great position financially and professionally. It was the commute on top of everything that killed me in the end.

Pablo_Flox

I have done this at several times during my life, and while it is not fun it is a means to reaching a goal and I applaud your work ethic.

Just don't get too upset when after 2 years of killing yourself you realize your next door neighbor got handed their keys by the council.

weemcd

You could do it but you'd need to be very diligent about your sleep pattern, diet, taking time to rest, make sure you drink plenty of water etc etc. Otherwise you'll quickly run yourself into the ground. I'd imagine alcohol would be a complete no-no.

Idbatterim

Is much commuting involved? Like the others say short ish term with a big goal in mind, it could work. Often renting etc, will actually be a bigger psychological burden than ripping off the plaster off and doing what it takes to get over the end line... like if it was 6-18 months etc...

Sparkey84

fair play to op for even being in this train of thought. in the past i have done a period where by i worked on my home (to make it habitable so we could move in) and worked a full time job also. it was equivalent of working 7 days a week. it was an awful year and i did end up on sick leave twice picking up bugs from being run down. its a plan with a short time limit but as tough as it was it was very worth it. I'm still enjoying the fruits of that labour. if you decide to go for it best of luck.

Sparkey84

Idbatterim wrote: »

Is much commuting involved? Like the others say short ish term with a big goal in mind, it could work. Often renting etc, will actually be a bigger psychological burden than ripping off the plaster off and doing what it takes to get over the end line... like if it was 6-18 months etc...

very good point about the burden of renting. its fine in Europe and the likes where the tenent can rent for life as the rates are more fair. i know a german renting a house for what he describes as 35-40% the cost of what a mortgage on same property would be.
no such thing in Ireland
the Irish landlord wants the rent to cover the mortgage, and the house insurance and the property tax, and the maintenance if the house.

frozenfrozen

consider upping your weekend rate to the point you'll get less work but when you do get it it will be worth working the weekend

italodisco

Have you got any kids?

I did this for 2 years, worked monday to Friday in my primary role, then i worked security at events typically 10am to 4pm Sat and Sunday, also worked nights doing nightclub security work 8pm to 3am on Friday and Saturday night.

Found it easy enough, then a child came along and after 3 months i had to give up the weekender as my wife was absolutely shattered left alone with a newborn 24/7 , understandable really.

I'm the same age as you, i'd say you should give it a go and see how you feel after a month.

Away With The Fairies

Idbatterim wrote: »

Is much commuting involved? Like the others say short ish term with a big goal in mind, it could work. Often renting etc, will actually be a bigger psychological burden than ripping off the plaster off and doing what it takes to get over the end line... like if it was 6-18 months etc...

Short commute for both jobs. I'm thinking way ahead because I still have an interview to attend. But with covid around and not going out much at weekends anymore, I could work weekends instead.

Feisar

Sparkey84 wrote: »

very good point about the burden of renting. its fine in Europe and the likes where the tenent can rent for life as the rates are more fair. i know a german renting a house for what he describes as 35-40% the cost of what a mortgage on same property would be.
no such thing in Ireland
the Irish landlord wants the rent to cover the mortgage, and the house insurance and the property tax, and the maintenance if the house.

The issue is private people with average means buying properties to rent. They want/need to see a return in their lifetime. Rental properties if owned by a fund can afford a longer timeframe to show a return. That’s a bit simplistic in the broken Irish context.

Wildly Boaring

Feisar wrote: »

The issue is private people with average means buying properties to rent. They want/need to see a return in their lifetime. Rental properties if owned by a fund can afford a longer timeframe to show a return. That’s a bit simplistic in the broken Irish context.

Awful simplistic.
The funds are more than happy to drive rents through the roof.

brisan

Away With The Fairies wrote: »

I'm not getting any younger. I'm almost 40 and I don't have my own house.

A couple of weeks ago, I applied for a new job, Monday to Friday with 800euro a week salary and I have an interview. So I'm thinking positive about this.

Thing is where I'm working now, I've been asked would I be interested in changing shifts after Christmas. It's a weekend shift and it's good money as well, it's 300 euro for the two days.

This is all before tax, so not sure how much I'd be coming out with after tax. But it would be slightly better than what I'm earning now.

It's very good money and with things being quite with covid, for once I'm thinking I could save up for a deposit at the very least.

Is this a good idea?

https://download.pwc.com/ie/budget-2021/income-tax-results.html?status=1&parentstatus=0&ageattained=40&prsicategory=1&grossincome=on&grosssalary=41600&pensionfund=on&tradeincome=on&welfarepension=on&investmentincome=0&salary3=0&covehicle=on&healthinsure=on&clubbiksel=0&otherbiksel=0&employerloan=on&submit=Calculate+my+tax

https://download.pwc.com/ie/budget-2021/income-tax-results.html?status=1&parentstatus=0&ageattained=40&prsicategory=1&grossincome=on&grosssalary=57200&pensionfund=on&tradeincome=on&welfarepension=on&investmentincome=0&salary3=0&covehicle=on&healthinsure=on&clubbiksel=0&otherbiksel=0&employerloan=on&submit=Calculate+my+tax

You would have an extra 154 euro by working the 2 jobs
The extra 15.600 would increase the amount of finance available to you by 54,600 euro
Once you are armed with the facts only you can decide
I have worked hours like this before ,but purely with a goal in mind
Once that goal was reached I stopped
I done it again when another goal appeared
I was married with kids and the strain told ,
Once you have all the facts only you can decide if
A you are capable mentally and physically of doing this
B is the end goal worth it
Once you have the property you can stop and rent a room if need be to supplement your income

brisan

Feisar wrote: »

The issue is private people with average means buying properties to rent. They want/need to see a return in their lifetime. Rental properties if owned by a fund can afford a longer timeframe to show a return. That’s a bit simplistic in the broken Irish context.

The return is a property mortgage free at the end
A rental property should be treated like a pension fund
You put money in monthly to get a big pot at the end
You do not put into and withdraw from a pension at the same time

Feisar

Wildly Boaring wrote: »

Awful simplistic.
The funds are more than happy to drive rents through the roof.

I did say that. It would take government intervention to correct the market and drive the buy to let types out of the market

Away With The Fairies

Well I thought it would have been a good idea with both jobs paying good but if all I get is an extra 150 euro for two 12 hour shifts, it doesn't make much sense

But serious question. How are people meant to afford to buy a house if people are taxed so much for working two jobs?

L1011

Away With The Fairies wrote: »

Well I thought it would have been a good idea with both jobs paying good but if all I get is an extra 150 euro for two 12 hour shifts, it doesn't make much sense

But serious question. How are people meant to afford to buy a house if people are taxed so much for working two jobs?

You're taxed the same as you would be for the same income in one job

BigPineapple

If you are not married or have children. I'd say give it a try for a short while and see how it goes (it is hard to find two jobs in general with time that suit time wise). However if it was me, I would not be using that extra income from the weekend work as saving (because it is not much as net pay). But rather I'd pump all of that into pension to get maximum return in the longer run.

That is because bank will probably only take one salary into account anyway when it becomes mortgage application.

Certainly keep an eye on the working time act side and ensure you have that covered and not get your employer into trouble and check your contract.

When I used to have a part time job, I made sure to let my main employer know to get the all clear just as a precaution. Granted mine only lasted for 3 months.