Thursday, July 2, 2009

I Got My 10% Back!

Well, not yet but soon. A company email went out today notifying us that business is picking up and our other branches are going back to 5 day work weeks instead of 4. Plus, starting July 20th, the salaried folks get their full pay again!

That is wonderful news. Of course, I'll have to wait a while until I actually see an increase in my paycheck but I'll be on vacation for the next 10 days so time will go quickly.

After I read that announcement, I saw this article in the paper:
Paychecks shrinking for most who still have jobs Hopefully that won't happen to me again anytime soon.

The first thing I did was to re-adjust my mortgage payoff spreadsheets. Before, I thought I would have to add a month on to my plan because I was close to my maximum payment for the last month, November 2010. Now I am able to chop a month off the end and my last extra payment is only $300 so I have a cushion for unexpected expenses. New payoff date is October 2010. If nothing expensive happens then I might even be able to shave another month off the end. Remember the $400 stimulus money that started appearing in our paychecks in March? I haven't allocated that to any budget category so who knows, it could go toward the mortgage (but more likely it will go to medical bills or car repairs).

All things considered, it was a very good day. Do you think I'll still get a raise in September? Hmm, something tells me this was my raise. Well, it's better than getting laid off.

4 comments:

Over the Cubicle Wall said...

very good news!

have you counted on any raises in your mortgage payoff schedule?

Daizy said...

Before the pay cut I had raises in my payoff plan. Then when they took 10% I took out the raises too. Too disappointing if they didn't happen. I wanted it to be a realistic plan. Now the only negative variable assuming my renters keep paying and I keep my job are the stocks I plan to sell. They might not be worth anything next year or at least not as much as I hope.

Sallie's Niece said...

Wow, that's awesome. I had a feeling once they started taking away pay it was gone for good but I guess that's not always the case.

Lizzie said...

Excellent. Is this what they call the first green shoots?