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Stop thinking in pounds and face the mathematical reality of what your spending costs in actual hours at work with this life cost calculator
A fun way to see the hard reality of what your spending costs you in hours at work to pay for it.
A fun way to see the hard reality of what your spending costs you in hours at work to pay for it.
Whether it's a Sunday breakfast or a pair of shoes, use this quick calculator to show you how many hours you need to spend at work to pay for it (after deductions).
Enter your gross salary, pension %, the item name and amount to see the number of hours, days, weeks and years you spend at work to pay for it. (Based on a 37.5hr working week).
If you want a really scary eye-opener - use the mortgage calculator to see the total amount you are repaying for your mortgage and put that amount in as your purchase cost! Another incentive to pay that debt back as quickly as possible.
You could revert to the piggy bank method and only buy something when you have enough pennies.
Using real cash forces you to realise spending is actually real money, and when the cashpoint won't give you anymore you have to stop.
It's also even easier to see the £26.37ph you earn before tax, NI and 3% pension deduction as a £20 note after deductions. You spend it on a takeaway and that was one hour of your life at work to buy it - and that's on a gross salary of £51,421. If you are on the average wage of £39k, that £20 took you 1hr 17 minutes to earn after deductions. It brings home the reality of what the things you buy cost in terms of your life at work.
Now that you know exactly how much of your finite life your spending costs you in hours and not just pounds, it's time to learn how to fight back.
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