As part of our groups progression, we had to calculate our total income that was required to sustain our current lifestyles, it was an enlightening experience, giving me an insight into how much money is genuinely wasted on 'luxury goods'...
I knew that once I'd calculated my current lifestyle income, I could alter certain figures such as; Rent/ Mortgage, Council tax & Car expenses. Doing this will allow me to see how working and living as an adult would compare to living as a student.
Current cost of living = £20,469 + Annual Holiday costs = £900 = £22,548
To work out my 'daily rate of pay' I needed to add my business expenses to my required income, and then divide this by the number of working days...
£10,000 (Rough estimate of business expenses) +
£22,548 /
233 = 139.690987 / £140 Daily rate
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