Friday, September 18, 2009

PSA: Jobs, pay, benefits, and budgeting

Please, please, please do not base your household budget on your benefits, like overtime & bonuses.

Vacations, eating out, entertainment, even Christmas based on OT & bonuses, fine.

Mortgages, utilities, car payments, etc. based on OT & bonuses, not the smartest idea. Manage those on your base pay alone.

The reason I say this is because you never know when workloads will shift, and you will lose your overtime. But if that happens, and as long as you still have your job, you will still be able to manage with just your base pay.
Same goes for bonuses. I know someone whose company got rid of bonuses years ago, before the recession ever hit. So it's not even just about "these economic times".

You have to remember that those things are benefits. They are not your base pay, and should not be treated as such.

Here's hoping this little tidbit helps you in some way.

Have a great day!

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