Should I do this?

[inamuddle1]

Hi,

Need some advice. I am very unhappy with my current job. I work at a senior level in a school. I commute an hour each way and the workload/stress etc is really impacting my physical and mental health. I perform well but I feel as though I am working round the clock and there is no time for anything else.

I have been offered a new job nearer home. 10 minute commute and a slightly less senior role. It would mean a reduction in take home pay of about £400 per month.

Our finances are a bit tricky at the moment. We are ok but we are in the middle of paying back some debt. We had a mortgage shortfall on another property and also helped out a family member who let us down, leaving us in debt ( lesson learned). We have been massively overpaying this debt to get rid of it asap and I don't really want to impact on that too much.

This is our current budget based on my current job

My income - £4093 per month
dh - £3248 per month

TOTAL INCOME - £7341

mortgage and all household bills inc mobile phones etc - £1840 per month
Debt pay and overpayment - £2000 - Really want to continue paying at this rate as I need it gone in 2 years.
Car lease - £392
dc's activities - £170
Food - £500
Fuel - £400

TOTAL - £5302

Surplus - £2039 or £1639 if I take the job

dh is supportive and wants me to what is best for e

WWYD?

I think I would take the new job. Presumably your travel costs will reduce with the new role and that will help offset the loss in income. Sounds like your mental health would really benefit from the change.

You'd still have £1,600 "surplus", I don't understand the question if it's only about income and being able to continue paying your debts at the same rate.

You could pay another thousand a month towards them and still be in surplus.

I'd get a cheaper car, is it feasible?Your fuel costs will go down hugely if you get a job nearer home.

Depends how much £400 a month means to you. Will you even like the new job. Nobody can really decide for you. Will you miss your old colleagues. Goodness knows how you got into such debt on your income. Maybe your finances need careful scrutiny before making any decisions.

Take the job.
anything that affects you as your current one is a false income in terms of conceptual utility, you literally lose a lot of utility with the negative utility it causes (MH etc).

How much will you be saving on fuel? I'm thinking an hour commute would be £50 a week perhaps? Could you walk to new job and save even more? Is that car cost yours? Can you trade in for a smaller/cheaper model at a lower price (not sure how this car finance works).
Think of the time saved on commute, can you cook food from scratch/batch cook to reduce costs. Would you have time for gardening? Grow expensive veg particularly eg tomatoes, peppers, courgettes, etc.
Would the shorter commute give you time to do an hour or two's tutoring at £20/hour 2-3 days a week?
All of the above would make up the shortfall and at little extra time than you're wasting commuting.

Take the new job, take on some private tutoring if you need to up your income

Go for it. It looks manageable on your figures & your well-being & mental health should be the priority here.

Thanks for posting. I did say how the debt accrued in my post and that comment does feel a little judgemental

Take the job. That’s a lot of disposable income, even on the reduced salary. (And how are you taking home that much, working in a school?!)

I'm another for taking the new role. You'll adapt to the shortfall in the short term but in the long term you will be so much happier.

Sorry I was judgemental, i read your post again and saw your explanation for the debt, and it is very reasonable. I apologise.

Take the new job, you'll reduce your fuel bill so that might reduce the difference.

Take the job. One hour commute to 10 mins will be a big saving.

Is the fuel yours or both?

Will your travel costs reduce so not as much of a gap?

Take the job. You still have a decent level of disposable income and honestly health/sanity is way more important.

I think at that level of income you can afford the 400 drop for the sake of your sanity.

Also presumably going from 2 hours driving a day to 20 mins a day, you’d save significant money on petrol and car costs

The extra time may help you save money too, like packing a lunch or making more food from scratch for example

@Caterina99 you make a really good point about cooking from scratch or packing up a lunch to go