How much are you really making at your job?

I’ve been reading this book lately, called “Your Money or Your Life.” The basic premise of the book is that you can have both – your money and your life. He talks about people “making a dying” rather than “making a living.” If we were all going to work to make a living, wouldn’t we come home more energized?
The part of the book that stood out for me, especially as it pertains to budgeting, was a part where he talks about figuring out what you are actually making an hour. This was helpful for me as I was offered a job this week and I was trying to decide whether or not to take it. He said to decide what you make hourly, after taxes and then subtract any expenses that you incur because of the job. This might be daycare, clothes (or uniform), phone, gas, car (would you drive a different one if you weren’t working there?) and put a figure on all those expenses. Then figure out what your actual hourly wage is.
For example:
Salary $45 000 (based on a 40 hour work week)
After taxes/deductions:
$31 500 Hourly: $16.40
Expenses because of this particular job:
Daycare:$200 a month Hourly:$1.25
Gas to get to and from work: $200 a month Hourly: $1.25
Clothes for work: $100 a month Hourly: $0.63
Phone (have to have a blackberry because of work): $65 a month Hourly: $0.41
Lunches once a week at work , Tim Horton’s every morning: $20 a week Hourly:$0.50
Take out once a week: $30 a week Hourly:$0.75

After expenses, my hourly would be: Hourly:$11.61

So, in this example, I would be making $11.61 an hour after the expenses I incur because I’m working.
I’m not saying it’s bad or good to make $11.61 an hour (specifically for this case). I’m just saying sometimes it’s worth knowing how much you’re actually making.
This helps you when you’re figuring out if you are going to change jobs but it also helps you when you are planning on buying things. For example, if you want a new pair of shoes and they are $50. You might be thinking,” I make good money, I’m going to buy those shoes.” Now, you would think – I have to work 5 hours for those shoes, do I really need them?

Obviously there is way more to working than the money we make at our job – it has to be fulfilling. Often people choose a job for the satisfaction of the job and sacrifice being compensated well financially for it. I hope this just gives you something to think about for this week.
It definitely helped me figure out whether I was going to take that job offered to me or not.