Unsure if work is going to pay?
If so then you need a Better Off Calculation.
Work has lots of positive benefits for anyone - it helps you develop your skill set, build a career, allows you to meet new people and provides an important purpose in life for many.
But it is important to make sure that work works for you – financially.
A Better Off Calculation tells you how much you’d take home after tax and taking into account your current benefits and financial situations.
This will show you how your money world will look before you accept a role. Having this information will allow you to better plan your money and life.
Advice agencies (link to our Support Services page) can complete a Better Off Calculation for you and we would recommend that you make an appointment with one of them if you have complicated finances (for example multiple benefit claims).
If you are on an employment programme, such as Steps 2 Success, then your adviser may be able to provide you with a Better Off Calculation.
There are also some free online Better Off Calculators that are pretty accurate. Remember though the information they give you is only as good as the information that you put in!
Policy in Practice have this free Better Off Calculation tool that we have tried out and found to be accurate.
What information do I need?
Before you complete a Better Off Calculation you will have to gather some important information.
This might include the benefits you’re currently on, your housing situation and your debts.
You can download our checklist to help you pull it all together!