The costs of overtime
After my husband, Keith, finished school and accepted a full-time position, he worked a great deal of overtime, often more than 20 extra hours a week. Getting paid time and a half for these hours would ensure we were rolling in dough. At least, that's what we thought.
When Keith took a week off without pay, we expected his paycheque to be half what it usually was. To our surprise, he brought in just a few hundred dollars less, not the eight or nine hundred we anticipated. By working overtime, Keith had moved into a higher tax bracket. He was working 70 hours a week and making just a little more than he'd make by working regular hours.
Working overtime can result in major personal sacrifices for minor monetary rewards. Here are some things to consider before you commit yourself to extra hours at the office:
