Originally Posted by
tf412
So, this means there is up to a 3-year delay until you are paid this? Which I guess means, when working out whether I could afford to take the financial hit (assuming I get through), I shouldn't take this figure into account.
How do other trainees manage financially in the first 2-3 years, particularly those with a mortgage and kids?
No kids or a mortgage for me yet but I will be continuing to pay my half of a two bed flat in central Reading so my other half isn't forced to move out and into a house share because of my career decisions.
One of the things that attracted me to Jerez was that the living costs are more favourable (i.e fairly close to zero as food and accomodation is covered) and I believe from a tax perspective it's more like 20% total Spanish tax than about 33% in the UK by the time you factor in NI. Obviously got to factor in personal allowance and things like that. It depends if you can bear to be away from home for that long though I suppose. I believe flights are also included as well as a weekend allowance too. And once I'm back in the UK it will basically be a break even/eat into savings situation paying for two lots of rent at once until I find out where I'm being posted.
I do know they strongly discourage you from taking on a second job for example.