Reading the commuter threads / BBC stories I'm aghast at the sacrifices made all in order to earn a few bucks. So it got me thinking; what would you pay per hour to be with family?
The £12.50 p/h local contract job versus the £25p/h with a 2 hour commute each way (please dear <insert invisible being name here> tell me no one commutes two hours each way just to be inside the higher tax bracket). What coefficients would I use to measure the value of time away from family?
Obviously the daily expenses. T, travel; S, subsistence; and so forth, let's say:
T&S @ £200 a week @ £25p/h with 2 hour commute, umbrella take home inside ir35 after 40 hours: £1931 a month versus
T&S £0 a week @ £12.50p/h locally, <10min commute umbrella take home inside ir35 after 40 hours £1328 a month
Now 4 hours a day travelling, that's 20 hours a week, or 73 hours PCM away from family (perhaps that's your objective), or £8.20p/h not to be with family.
£8.20 p/h for 73 hours PCM,
I'd pay that myself to be with family not vice versa, but others may think differently. Not to mentioned the wear and tear of travel that helps speed you on the way to an early grave.
Any other coefficients I should consider?
family time p/h = [(commute income rate less expenses) - (local income)] / monthly commuting hours
The £12.50 p/h local contract job versus the £25p/h with a 2 hour commute each way (please dear <insert invisible being name here> tell me no one commutes two hours each way just to be inside the higher tax bracket). What coefficients would I use to measure the value of time away from family?
Obviously the daily expenses. T, travel; S, subsistence; and so forth, let's say:
T&S @ £200 a week @ £25p/h with 2 hour commute, umbrella take home inside ir35 after 40 hours: £1931 a month versus
T&S £0 a week @ £12.50p/h locally, <10min commute umbrella take home inside ir35 after 40 hours £1328 a month
Now 4 hours a day travelling, that's 20 hours a week, or 73 hours PCM away from family (perhaps that's your objective), or £8.20p/h not to be with family.
£8.20 p/h for 73 hours PCM,
I'd pay that myself to be with family not vice versa, but others may think differently. Not to mentioned the wear and tear of travel that helps speed you on the way to an early grave.
Any other coefficients I should consider?
family time p/h = [(commute income rate less expenses) - (local income)] / monthly commuting hours
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