Saturday, October 25, 2014

Is Double Time Really Double Time?

Double bubble, double pounders! You're raking in the cash, right? Double your salary for overtime hours.

From a banking perspective, it sure is nice to have a huge paycheck come in every so often. A financial cushion to double down on the mortgage, or keep up with the cycle of bills, pay off the credit cards. Whatever your financial situation, the bonus money is pleasant.
From an employer perspective, it might actually make sense to pay people double time instead of train, hire, teach, pay vacation, pay sick days, move people from place to place, pay into their benefits, their insurance, their glasses, their dentists, etc, etc, all the non-salary costs associated to hiring an employee.

For the government, the higher tax bracket that double time puts them in means the government ends up recouping bigger amounts back in taxes as well.

Just something to think about next time you say yes to double time. The paychecks are nice, but you might be saving your employer money in the long run. Not that helping the big man is a bad thing, unless they start to abuse it and it effects your well being.

There comes a time when you need to log those hours and take time off, separate and enjoy your passions in life. Blogging, for instance.

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