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Sliding scale of earnings

  • 07-10-2021 05:01AM
    #1
    Thespoofer
    Registered Users, Registered Users 2 Posts: 1,115 ✭✭✭


    Hi, If anyone could help with my query would be great.

    Both my Wife and myself work full time. Me construction , herself healthcare.

    We have two teenage kids and our house is almost paid off ( 1-2 years left ).

    My earnings are approx 45k/year and my Wife is about 38k/year. We're fairly frugal with our earnings, non smokers, rarely drink and no other debt.

    What I'm asking is could someone workout( roughly )if I went on x3 days per week, money lost in real terms as I'd obviously be paying less tax, maybe give my Wife my allowances etc.

    The reason I ask is because there comes a point where between both of us where a good portion is lost to tax and I have to question is it really worth the extra % of work for this pay.


    Hope I make sense.


    Thanks.



Comments

  • #2
    CPTM
    Registered Users, Registered Users 2 Posts: 1,507 ✭✭✭CPTM


    There are a few salary calculators online that you could play around with. I mean obviously there are things like pension contributions, expenses (if you're self employed), healthcare tax back claims but if you're looking for a general idea, I like this one because it's the simplest.

    https://ie.thesalarycalculator.co.uk/m/

    There are others which get into more detail but I've found this to be fairly accurate at a basic level.



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