Monday, March 9, 2009

Thinking About Unemployment

Ah unemployment...after meeting with my benefits manager, you don't seem so scary at all. Especially after I move and don't have a rent payment to make.

Here's all the vital information I received:

  • I will be paid as usual for the next three pay periods. The third pay period should also contain 5 days of lag pay.
  • Sometime in May I will receive a pay-out for my unused Vacation Time, currently at 57.5 hours.
  • I can expect a weekly payment of $430 for up to 33 weeks due to an increase in the benefits being paid out and an extension on the time limit for unemployment courtesy of the federal government.
  • I am covered under the health plan until April 29, 2010! All I gotta do is pay a $48/month premium. A little more if I wanna keep my dental benefits.
I gotta say, when New York lays someone off, they do it right. If I wasn't so worried about my professional future or paying back my student loans I would actually enjoy not working for a little while. (And don't criticize me for taxing the system, my employer IS the system. They paid me measly wages for three years, it's about time it amounted to something.)

I realized after I posted the Revamped Emergency Budget that I only listed my fixed expenses and that was confusing. So here is my new and improved (by two hours) Emergency Budget:

Unemployment = $1720

Health Insurance - 48
Dental - 28
Housing - 300
Student Loans - 446
Cellular - 60
Collections - 385
Groceries - 100
Misc. - 285

Not looking too bad. Of course this doesn't take into account saving money for tax time. Not sure what I'll do about that. I know there's an option to have it removed automatically from your weekly benefits.

Anyway, I hope I don't have to resort to this budget but at least it's not as bad as I feared.

9 comments:

Nicole said...

Good, way to have a positive outlook...:^) Hang in there, thinking of you..

Did it MY way said...

I'm sure your measley wages would be appreciated more than not haveing a job.Sorry but I'm a little bitter this morning.

Sallie's Niece said...

Eh don't apologize...many people would have loved to have my job I realize that. Hell I'd love it if I were able to keep it too.

Escape Brooklyn said...

Wow, your worst case scenario sounds pretty manageable! Hopefully it won't come to that but at least you're prepared if it does. Good luck!

Jim ~ mydebtblog.com said...

I don't get the unemployment thing. You wouldn't mind not working and getting $430 per week from NY because they didn't pay you enough while you were working? Even after all is said and done, if this happens you still don't have a job anymore.

Moving on up! said...

The health insurance seems like a pretty good deal. $48? Sounds cheap.

Sallie's Niece said...

@Jim, I was just trying to look on the bright side. Obviously I don't want to lose my job!

@moving, yes the health insurance is cheap but it's only for a year.

I may have good news soon but it's too early to know. Cross fingers everyone!

Anny said...

I got laid off last month - its not bad at all! I get more in unemployment than when I was working although no benefits. You're lucky to have those!

Jim ~ mydebtblog.com said...

Sallie my point is there isn't a bright side to unemployment. Getting money for doing nothing is not a good thing nor does it help you. Other people have to work to pay more of their own money in taxes to fund these programs.

While the people like Anny are just thrilled to be 'making' more off their unemployment check, other people have to work harder. Eventually these people will get tired of all their effort amounting to nothing they can retain. I'll attach a quote that might provide insight on this.

-----------------------------------

You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation.

You cannot multiply wealth by dividing it.

Dr. Adrian Rogers, 1931-2005