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Life Changing News

February 9th, 2019 at 06:21 pm

DH took a new job today. It's back on the slope. After taxes and after airfare, we'd be bringing home $30K more a year. Yes, that's net. The 401K is not as good a match (but we'll contribute 7% instead of 5% to make up for it) and the insurance costs more (but pretax), but the difference in income more than makes up for that.

DH and I talked it over for several hours yesterday. His current job is getting iffy, because after the election last year one of the refineries pulled out of a couple of jobs and that means less work for his company. We feared this was going to happen because it does every time democrats get control of either the Senate or the House, and it is even worse when they also have the presidency, which they may again in two years.

I think it is a little ridiculous though, because they don't have control of both, so they'll never pass anything in the next two years, but the oil companies always seem to get fearful when the dems start getting any control. Usually because they raise taxes on the industry, already the highest taxed industry in America AND all developing nations, and try to shut down new exploration the second they get full control and put in all sorts of punitive regulations. They don't want to invest only for it to be shelved in a couple of years and have it taxed so much the project is no longer tenable.

But anyway, because the current job is getting iffy on work, and because this job pays so much more, we decided he would take it. It is a two year contract. We'll be out of debt in a year and have our six month emergency fund in place by the end of the second year and maybe some saved for a down payment.

He starts on March 18th. I told him to at least wait until March before he lets his current work know and I hope he listens to me. I'd really like him to wait until two weeks before to give notice as I don't want to try to go without pay for more than 2 weeks if they decide to let him go early. My hope is he can work right on up to the 15th. We only have $3000 in the EF, so it would be very tight. I am going to go down to a bare bones budget between now and when the new job starts and save as much as I can. We will have to pay for a Cobra for the month of April, but I believe the new insurance should start in May.

The first pay cycle will be larger because he will have 3 days of training on it before he starts his 3 and 3 hitch. I hate 3 and 3 so much as compared to 2 and 2, but it means less airline tickets a year.

It will be hard to go back to this again, but it puts our future back on track. It will be annoying to have to do a 6 week budget cycle instead of a 4 week budget cycle, but I managed before and I can manage again. And it is worth it for the amount we'll be able to speed ahead on our goals.

I just hope that after the two years are over there will be work that is easy to find, hopefully slope work. If not, I guess we'll have the fully funded EF and unemployment again (which is enough to cover insurance premiums, but that's it).

7 Responses to “Life Changing News”

  1. Jenn Says:

    It's a sacrifice for your family, but it sounds like you are committed to buckling down to make the most of every extra dollar. Keep that 2-year goal in front of you!

  2. creditcardfree Says:

    That's a mixed bag of news. I'm so sad that you will be separated again, but at the same time I'm so happy for you financially. I will keep you all my prayers.

  3. MonkeyMama Says:

    That's awesome news!

  4. CB in the City Says:

    What a great boost to your income! Woo-hoo!

  5. Dido Says:

    I'm glad you'll have the extra income and can pay off the debt; sorry you and DH will be separated more as a result for the two years.

  6. rob62521 Says:

    Glad the new job pays more. Sorry you are separated, but hopefully the good will outweigh the bad.

  7. livingalmostlarge Says:

    Congrats on the new job. Are you sure about the separation? Hope it turns out well. But it is better to do it on your terms than being forced into something you aren't sure that it's what you want.

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