Key Post Minimum Income Standard Calculator

[Brendan Burgess]

http://misc.ie/

This is a very useful tool when answering questions on mortgage arrears. It calculates what your minimum expenditure should be and how it relates to your income.

I gather that the figures are a bit higher than the ISI Reasonable Living Guidelines, which is fair enough, as they apply to people who are going through an insolvency process.

I think that some of the lenders may use this calculator to work out what is reasonable when giving people a deal.

Certainly borrowers could use these figures to justify what they need to live on.

Is your income enough to allow a minimum essential standard of living?

The Minimum Income Standard shows the income people need in order to afford the goods and services that members of the public have agreed are a minimum essential for everyone in Ireland to have. This is a minimum standard that people agree no one should live below.
This calculator allows you to see the minimum for your household type.
By answering a few simple questions the minimum income standard for your household will be calculated. You can then make certain adjustments for your situation.
The calculator is based on a social consensus view of the minimum needs for everyone. It aims to be a universal tool and cannot show what you require for all your individual needs.