From my reading of the above post they already have a mortgage in place before giving up full time employment,Good luck getting a mortgage with no savings history and an income low enough to require state assistance.
I would agree with you, but lots of system users are hard working lots of loop holes left in the system for the well connected and the cottage IndustryI believe the OP is trying to start a debate on whether we are better off not having any savings for a rainyday as you will lose state benefits by working harder.
AA but well off system users can have it both ways,If your income is below the eligibility limits for a medical card, I'm not sure you will have any spare cash for holidays, cars and house improvements
Over the last few years I have simplified my finances in order to get a mortgage and apply for medical cards and maybe Family Income Supplement (now WFP ?).
My policy is that I will not save long term. I will spend any extra cash on holidays or a car. Any lump sum would be used for home improvements. This will ensure that I am always eligible for a medical card and "SUSI" education grants and FIS/WFP payments.
Is this a good financial strategy in Ireland ?
I was self employed for 12 years and went into a PAYE job for 12 months and have now gone part-time as a PAYE worker.
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