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RE: Averages, medians and being below them both

in LeoFinance3 years ago

€1800 minus 17.4% in taxes, unemployment insurance and pension contributions equals €1487 for a single and childless person where I live. If your rent is €487, you're left with €1000 to cover the rest of your expenses. Should be doable but you can forget about any expensive luxuries.

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I can't remember. What was it for unemployment and rent assist benefits?

About €1000 for a single childless person.

Pretty crazy to think that someone working a fulltime minimum wage doesn't get much more than that.

Technically, Finland has no minimum wage per se because of collective bargaining.

But I get your point. However, that extra €478 or so is quite a lot percentage wise and also in absolute terms. If you make €5000, 10% more isn't going to affect your lifestyle all that much. But if you're entire income is €1000 per month in Finland, then getting €500 more will seem like a rather substantial increment. It could mean being able to travel across the country to see relatives or friends from time to time.

As you well know, working has many kinds of intangible benefits such as a feeling of being a productive member of society. Also, those who collect €1000 as benefits, will have to jump through hoops when various authorities tell them to. If the paperwork isn't done correctly, there may be penalties.

No benefits would put a lot of people in a position where they'd end up in the streets or fill up the prison system.

I agree with you. There are massive benefits in working, even if it is for FA more than not working. I have been consistently surprised at how many people turn down good jobs while they are on their 500 days (400 now?) and then wonder why they struggle to get back into the workforce.