Thursday, March 19, 2009

My New Salary is....

$47,500, an increase of $3900 per year over my current salary!!! Hey it's not much considering I have to work longer hours and some weekends now, but I'll take it gladly thankyouverymuch.

According to the handy paycheck calculator I used online, I will be netting $128 more a paycheck, for a total of $256 a month (more in the glorious three paycheck months like this coming April). That takes into account my pension (3% of my salary) and my continued participation in my 457 retirement plan (7% of my salary).

The fiance and I were talking last night trying to figure out the strategy for my newfound wealth. There's the wedding to think about. The student loans. Retirement. Emergency fund. Cash savings. New professional clothes. Yikes, so many things are happening at once!

We need to save about $5000 by this summer in order to pay some deposits. Photographer. Band. I think that's about it for now. My folks will pay the reception venue deposit. We opened an account in his name (that I'll have access to) in order to merge these savings.

Oh and did I mention I still have to move? Finding a new tenant for my apartment is currently the biggest wrench in our savings plan but hopefully that will happen soon. Worst case scenario I continue to pay rent for the remaining 4 months of my lease.

I'm also going to be getting a check in about a month or two cashing out my unused vacation time (now at about 54 hours = $800). I think I am going to lump that all into our Wedding Savings.

Stay tuned for more progress bars - though I am so enjoying seeing them mostly completed for the time being.

15 comments:

Moving on up! said...

Woohoo! That's great news!

Anonymous said...

good for you!!!!Look at how much you've accomplished over such a short period of time: saving plans; no more payday loans; and almost all short-term debt gone!!

sgreen

Dedicated said...

You know that is so wonderful! I think before funding the wedding, I would pay bf back. Call it emotional security, just in case the stress of wedding planning and life changes cause any issues or arguments.

At any rate - you are going to be awesome!

Sallie's Niece said...

Thanks everyone! I'm pretty excited that almost a year of job hunting has paid off just in time.

@Dedicated, yes paying him back is part of the extra paycheck plan coming up soon! Then as soon as I move in we'll be sharing more finances.

Smart Cookie said...

Congrats!!!!

Escape Brooklyn said...

Wow, congrats! Lots of great news this week!

Fabulously Broke said...

That is AMAZING :) This is really awesome news.

paisley penguin said...

Congratulations!

graduatedlearning said...

Congrats!

Anny said...

How wonderful :)

Congratulations again!

C.C. said...

That sounds so good! Your financial future is looking bright!

Shtinkykat said...

Hey, $3900 is nothing to sneeze at. With you moving in with husband-elect, bank the raise for a stress-free wedding (at least finance-wise)!

Dara said...

Congratulations! That's great news. Maybe after you finish paying off the last of your short term debt. You can save the extra money per month towards your wedding.

J. Money said...

awesome, congrats!!! it feels cool spewing it out there on the blog like that too, huh? :)

Eustolia Nitta said...

An increase is still an increase, isn’t it? Better than cutting short your salary. At least you have specific goals for where you would allot your salary. Did you do a blog with the progress bars you mentioned?

Eustolia Nitta