. So my monthly gross at the new job will be $5893. The net should be around $4,225, based on an online net pay calculator I used.
My monthly gas, car insurance and CT car tax will all work to increase my monthly expenses, but I figure my minimum monthly expenses should stick to around $2,000, give or take. That means my potential monthly savings could range from between $1500 and $2,225 a month, or between $18,000 and $26,700 a year.
I don’t know if the recruiter agency offers a tax-deferred 401k-type plan. If they do, I’ll contribute, but only if it’s tax-deferred. Otherwise, I could contribute a bit more to my SEP-IRA, which I haven’t always funded these past few years cus I had no money to spare. Any additional savings will have to be taxable savings.
Disciplined as I am, I know I’ll feel a strong urge to loosen the purse strings after my long, self-enforced penny pincher ways. I mean, look at me, I’m already talking about buying a new car! Well, that was needed anyway, and all I did was push up the purchase by 5 months or so since I was planning on buying late in the year. I also need to get a bunch of new clothes. It’s business casual, thank goodness, but I’ve been working in my jammies for too long. And then there’s a long list of deferred maintenance around this place to think of.
I want to try to keep doing my freelance writing. I really have only one steady client who gives me the bulk of my work on a regular basis; they are pretty flexible with their deadlines and so if I can do their work on the occasional weekend,that would probably work.
Recruiter did say they offer a health plan to contract workers, but there’s a waiting period. Depending on how long the wait period and how much it costs, I might switch to it. Right now, I’m paying $562 a month for Cobra, but that ends June 30. Then I’ll have to go on the state plan, the plan of last resort for low income unemployed people or people who can’t otherwise get health insurance. That plan costs $589 a month although the copays and deductible are a bit lower than what I pay now. If the recruiter plan is significantly better, I’ll switch, but if not, I only need to stay on SOME plan til the end of the year, because in 2014 I can buy health insurance on the open market regardless of where I work and God willing, it’s more affordable than any of my choices now.
Just as I was writing my last post I was able to finalize an agreement to meet with recruiter Monday night at 8 pm in a town that’s about an half hour drive from home. He’s coming from work in NYC to meet me with all the paperwork and forms I have to fill out. Once I do that and have everything in writing, then I will give notice to my p/t employer, probably via email to 2 people late Monday night. While I will give them ONE week’s notice, I’m really hoping not to have to do that at all since they’re rather slow right now and I need the extra time to buy the new car, buy new clothes and get ready. But I would feel like a cad if I didn’t give them some notice, even if it is a p/t job that pays $12/hr.
In hindsight, it was really helpful and fortuitous that I happened to know the recruiter for this job very well. This was the guy who I worked side by side with for nearly 2 years when we were both writers at the same company in 2008-2009. We were about as close as 2 co-workers could be, and even sat right next to each other. I wasn’t consciously thinking of this when I was negotiating the pay rate, but I know him to be the kind of guy who doesn’t enjoy negotiating things and I sensed his strong desire and maybe some anxiety to wrap up the whole job deal today/tonight. My hunch was right, becus after I accepted verbally, he told me he was flying out of state to do something with his daughter and I guess will be gone over the weekend. So he probably really wanted to close this deal to secure his commission, especially as he’d also mentioned he had gotten this employer in the door, and it was the first time he’d done that. So this would be a coup for him, I would think. I’m glad I stuck to my guns and didn’t just accept the lowered pay rate without fighting for what I wanted. That’s something I would have done years ago but I learned the hard way….and I repeat, the very hard way, that you need to be your own best advocate at times like these, and vague assurances of other benefits down the road, which is what he was giving me, really mean nothing if you don’t have it in hand.
Potential savings at the new job
May 17th, 2013 at 01:00 am
May 17th, 2013 at 01:25 am 1368753946
May 17th, 2013 at 01:41 am 1368754880
May 17th, 2013 at 01:52 am 1368755558
This is the time of year when consignment and Goodwill type shops have their highest inventory. Could you be persuaded to have a quick check of these outlet for your 1st office casual replenishment? What do your colleagues in that particular setting wear? I've worked in environments where brand names were a pigeonhole factor in the upward/preferred track just as ethnicity was used in my grandmother's day.
Just some thought in an effort to be helpful...
May 17th, 2013 at 02:08 am 1368756534
I also think a brand new car is a money drain, BUT, I also think PS can easily afford it, so feel kind of "meh" about it. I think the used car considerations are worth thinking over though, as savings can be quite substantial if you just pick up a year-old car. A tip: Ask if there are any last year's models on the lot that are brand new. I have a couple of friends who picked up those deals during spring - so this might be the time of year to ask. We bought both our current cars in April/May and they were steals (1-year-old vehicles). But if you are set on a new car then last year's model will be your best deal. I haven't car shopped in 7 years, but 7 years ago most people were too good for "last year's model." Fair enough that people might be less picky in this economy. But is still worth asking.
May 17th, 2013 at 01:20 pm 1368796854
I also second the year-old car idea. The depreciation in just one year is amazing.
May 18th, 2013 at 04:13 pm 1368893631
May 21st, 2013 at 06:08 pm 1369159729