MONDAY, JULY 6TH
7:20PM
270 GREENWICH STREET, TRIBECA
I took my last trip to Whole Foods this evening for a while. Even when trying to be careful, I spent more than I thought I would just because products there are just not cheap. I know I'm going to have to try either The Associated or the PathMark nearby, even though the quality isn't as good as Whole Foods, it's more affordable.
Last Thursday started off as a good day. The day before a three day weekend, everyone seemed in a good mood in the office, looking forward to spending some time with friends and/or family, watching fireworks, eating hot dogs...in general, celebrating our country's Independence from the limeys. Then, we had an office meeting.
The partner's wanted to discuss the 'state of the office.' Oh no. Over the next few minutes came the bad news: everyone would need to take a 20% pay cut for the next three months. At least. Ouch. We would all also have to take two weeks off without pay in August. Again, ouch. I immediately starting thinking: OK, where can I cut costs?
1. As mentioned above, cheaper groceries.
2. Suspension of 401K contribution. Company is still contributing 3%. Sounds strange to some people, but I guess they want to maintain some things for morale.
3. Forbearance on student loans.
4. Sail more. I love being relief crew right now.
Other things like shopping for things I don't necessarily need will of course also be cut. As will my air conditioning (what I would give to live on a quiet street where I could actually open the windows. I'll have to live with fans). With this combination, I'll be able to make up the difference in my take home pay. That's the plan.
I remind myself that this is temporary, that once we're back to full time, I'll do things like pay extra on my loans to get back on track, and bump up my contribution to my 401K. When I first figured out the difference between my salary and my pay for the next three months - I admit, I gasped. 20% is pretty significant. However, even with the decrease, I'm making a pretty decent salary that I know I can survive on. That, I need to keep in mind.
I'm just hoping it doesn't get any worse.
I'm sorry for this - really. And it seems very scary.... But it also seems not that bad when you consider how many people are being foreclosed on, evicted, applying for food stamps, and losing their retirement savings - not to mention their jobs. You still have a job, still get 401k contributions from the company - and you get to sail more.
ReplyDeleteOf course, I might see this differently if I it happened to me.
It's scary, but I know that it could be so much worse. It will be nice to have an extra day off, and I'm lucky that I have a bit of a cushion - although I'm sure there are people that will tell me that my 401K is not a cushion, neither is cutting my student loans since I'll end up paying more interest. But you've got to do what you've got to do.
ReplyDeleteHang in there, on the up side, there are so few deckhands that you can and should sail more.
ReplyDeleteand there's more time to work on my ditty bag and new rig lanyard, right? I'm aiming for at least 5 sails a week. As long as they're not canceled, that's a good chunk of money.
ReplyDelete