This page will help you figure out the real costs of having a job. Getting a job and starting to earn money is great, but not many sit down and figure out just what this job is going to cost us. Although a job does give you independence and a sense of responsibility, now you will need to know just how to handle your time and your money.
This page will help explain what some of the real costs are. And are easy to understand.
Real Costs of Having Job
Taxes and What Comes Out of Your Paycheck:
You work and you get paid, but you don’t get to keep it all. Some things are taken out of this amount even before you get to see it. Part is taken out by the government, and these are called taxes. These help pay for things like police, schools, roads, etc.
Types of taxes are:
- Federal Taxes: These go the United States Government
- State Taxes: These go to your state’s government (some states don’t have this)
- Social Security: This is taken out and put towards retirement or if you can’t work due to a disability.
- Medicare: Helps older people pay for healthcare
These are taken out even before you get your paycheck. That is why when you get paid, you may not have the amount that you thought you were going to receive.
Getting To Work: Transportation Costs:
Now, how to get there. This could mean a car, bike, or train. No matter what, it will cost something to get to and from work each day
- If you need to drive there, that means you will have to get a car, which means gas, insurance, maintenance on this vehicle. Oil changes, tires and just general upkeep.
- If public transportation is available, it means that you have to buy a pass either for a bus or train.
- In some cases when you get to work, you may have to pay for parking.
These costs can add up very quickly, especially if your work is not near where you live.
What You Wear: Clothes and Uniforms
Depends on the type of work you do. You may be required to wear special clothing, safety shoes/work boots, and safety gear. There may be a uniform that is required as standard clothing while on the job. But even if there is no uniform, you may still have to be neat and clean. This may require you to get certain dresses, suits, and shoes that fit the type of work that you do. This may cause you to have dry cleaning, extra laundry in some cases, and even ironing to be done.
You may say that this is nothing, as you do laundry anyway. But over time, these can add up.
Taking Care of Others: Child/Family Help
Now if you have children, you will need someone to take care of them, if not in school. But what about before and after school. Babysitter, daycare. If it is a family member, you may need someone to be with them while you are at work. Both of these situations can involve more traveling if you have to transport them.
Food at Work: Lunches, snacks or drinks
Now when you are at work, you may need to pack a lunch, snacks or a drink. But then if possible there may be vending machines where you can buy these things. But this is an added expense that takes away from your paycheck. These may not seem like much at first, but when added up over time you would be surprised of the amount.
Time—A Hidden Cost
Now this is something you can’t get back, once it is used up it is gone forever. Did you ever think what you could be doing or not doing if you were at home during the time that you are at work? Time is not a “thing” you can touch, put on a shelf for another day. Some jobs are very stressful and when you get home at night you are just about out of energy. This can make it very hard to do the daily things that need to be done.
Other Costs:
There are the tools that might be required of you, supplies that are needed to do the work., Health costs, some companies don’t give benefits, or if they do you may have to pay a portion yourself. These are things that all add to the cost of having a job. If you want to see where you can save on some of these explore savings options here.
Why This Is Good To Know
These are just a few of the things that are costs to having a job. Knowing this, will and can help you make smart choices for your future. What you decide is up to you, but some smart choices can change your life completely, and for the better. There are also other ways people explore earning income and building more flexible lifestyles. You can learn more in our Options section.
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