Nearly half of workers are barely scraping by each week
Out of that he has €75 of statutory deductions, tax , PRSI and USC leaving him with €425 net take home pay (reference Deloitte tax calculator). He then has to fork out €100 to his landlord for his flat, thus leaving him with €325.
On his way home from work on pay day, he puts €50 of petrol in his car, hoping that it will get him through the working week. While at the petrol station he buys two bags of coal to keep his flat warm at a cost of €38. It being the weekend, he buys a newspaper costing €2 and gets €20 phone credit. He can’t afford to socialise or go on holidays so he feels that he deserves to treat himself to a bottle of wine for €10.
That was an expensive stop for Joe, spending €120, leaving him with €205. He likes to think that he is prudent as he feels that he did not go mad or cause the financial crash, so he saves a set amount every week to pay for a range of bills facing him in the New Year.
With those in mind, he puts away €20 every week to cover the cost of his health insurance as he dreads getting sick without this. He’s estimated that over the year, car tax, insurance, the annual NCT and a set of tyres will set him back at least another €20 per week. It will cost another €6 per week to ensure his car is NCT compliant and another two car services during the year, another €6 per week. Being a compliant citizen, he is faced with the cost of a television licence and water charges, along with an electricity bill, meaning there is another €25 gone. So after leaving the petrol station with €205, he has to deduct at least €77 to cover those known costs, thus leaving the typical Joe Soap with €128 out of his original €500 to feed clothe and take care of his personal hygiene and cover any unexpected events.
He does not hold grudges, he doesn’t get angry that so much of his hard earned income is going on direct and indirect taxes every week to help pay the €3000 per week salary and expenses incurred by his local TD.
He isn’t unduly annoyed that he is paying the pensions of those TDs and Ministers who contributed to bankrupting this country.
He also accepts that the government is depending on him and the almost other 50% of the workforce in similar circumstances to help lift this country out of the economic doldrums.
To his credit, he is optimistic in that he expects that if he lives another 100 years or so he may be able to save the deposit needed for that three bedroom semi-detached that he longingly craves, and hopefully then settle down and rear a family. It is doubtful that a woman would be prepared to wait around that long for even the hard working prudent Joe soap.
CONNECT WITH US TODAY
Be the first to know the latest news and updates
