Budget Calculator

[Rosieeo]

According to the BBC Budget Calculator, I'm actually going to be better off next year. By about £15, but still.

Can that be right? I've been preparing for doom gloom and no holidays.

I too am showing up as better off!!! However, it doesnt allow for the fact if you are public sector or for the VAT rise. I think anyway.

Anyway - the budget does appear to be less painfull than I expected. And we are not well off or well paid.

I will be marginally worse off, but as it doesn't include the VAT rise I suspect I am actually going to be a lot worse off.

Not to say it isnt painful - it is. But then I suppose I expected it to be worse with all the media hype. Good tactic really !!

Am I right in thinking that food and other essentials are not VATd. Therefore, theoretically, I could reduce my spending on 'luxuries' to reduce the effect of VAT increase. Or is that not realistic. We dont spend on holidays, clothes (only second hand in charity shops), smart cars or anything anyway.

apparently we will be better off by £580 next year but only if i reduce my hours at work to keep our income below £25k

hmmm, as expected. I will be between a lot worse off on that calculator.

Rosieeo, you can't get much of a holiday for £15 surely

Bonkerz - that is madness. It should never be financially advantageous to reduce hours!!

I wish. I thought I'd be a lot worse off. However, I didn't factor in VAT and I imagine that will push the cost of a guaranteed sunshine holiday up a fair bit. Scarborough here I come! Good job I love it.

i re did it with me doing more hours which is planned from spet when dd is at school full time, if our income goes above 25k we will be worse off by £200 a year which doesnt sound much but it means a £700 difference and me working alot more hours to make up that deficit which would mean paying for childcare which in turn means working more hours or being worse off..

i agree its ridiculous but i suppose thats because we are very close to the 25k limit already but it isnt worth our while unless i can earn 2-3k more a year.

"The indications are that you will be £1786.5 worse off."

Joy

I am going crazy here. Calculator says we will be £161 worse off - not really something to bother worrying about.

However it does not take into account childcare and therefore we will lose around £400 a month and be £5000 worse off in reality.

Why are they not including childcare costs in these calculators - is it just meant to be a rough over view?

£650 worse off here.

We will be 368 better off but it is saying they are going to increase my tax credits which can't be right can it? Quattro that is a big difference, at least you have a year to maybe shift some ccs or loans if you have any.

Frankly it's a fairly shit calculator !