Embedded Files
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 of your life you need to spend at work to pay for it.
Most online calculators use your gross wage for this calculation but this calculator doesn't lie about your income to minimise the reality of your spending. The calculations are based on your net take home pay hourly rate after standard UK tax (20/40%), NI (8%) and your pension deductions have been taken, based on a 37.5hr working week.
Enter your gross annual salary, pension %, the item name, and the total cost amount to see the exact number of hours, days, weeks, and years you must physically sit at your desk to pay for it using cash you own.
If you want a really scary eye-opener - use the mortgage calculator first to see the total amount you are repaying for your mortgage over the term and put that monster amount in as your purchase cost! It is the ultimate incentive to pay that debt back as quick as humanly as possible.
You could revert to the piggy bank method and only buy something when you have enough actual 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.
Google Sites
Report abuse