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Somewhat upset but hopeful

November 17th, 2013 at 09:52 pm

I did the calcs with the new book I got and while I'm happy I'm in control of finances I realized that I should have been saving more.

But here's the thing.

Since this temp job started:

-I planned a wedding for less than 5K and it is completely paid off.

-I paid off 3200 worth of credit card debt.

-I had 2800 in my emergency fund in September before my medical emergency cut it down to 1200.

-Aside from my emergency fund, as of this week I have money set aside for 3 months worth of expenses.

I'm mad because:

-My temp employment means I can't save as much as I'd like to for retirement.

-My credit card debt has kept me from saving for an emergency fund and retirement for far too long, I am very happy to be rid of it.

-My current debt keeps me from being able to buy myself many things I'd like to buy, which normally doesn't bother me but seeing how far behind I am in my goals and knowing my current employment is running out soon makes me feel like its all going to reset and I'll run out of all the money before someone is willing to hire me again.

-I should have asked my current employer if I was eligible for unemployment. I always have been when I worked at a temp agency but these guys hired me as a no benefits temp employee. I can of course ask HR this but I may want to wait until I'm much closer to the end.

-Knowing that I might not be entitled to unemployment its scary to think I only have 3 months worth of expenses saved up and have to rely on my part-time job only to carry me through once those funds run out.

-I still have less than 1000 in my IRA, I've had this IRA since I was 18. If I had been able to put more money in there I would have much more. The returns on the stocks I invested in almost 10 years ago have been amazing.

Ultimately though I haven't done so bad for myself. I paid for a wedding, didn't touch a penny of my part time job checks except for 4, one for tires for the car, one for medical bills and 2 for the wedding.

-I did save up 3 months worth of expenses and while its scary to think I may have to rely on it, its comforting to know that I have at least that cushion.

-I have done the best I can do to replenish the EF but felt it was more important to get rid of the cc debt since I have no idea what the pay rate will be on my next gig but know that there is no way I can pay it off on my part-time one.

-I also managed to convince my 2 of my credit card companies to convert my cards into rewards so now when I choose to use them I am getting money back to do so.

-I have kept my expenses low and learned to cook more things which means we eat out a lot less than we used to.

-I gave myself a break and I am finally giving myself a few more bucks each week to spend on food etc. This should help from racking up the cards again as well.

All in all the picture isn't bleak but its still not rosy. I'm a lot better off than I was when I graduated from school and doing fine considering that this economy is awful and some people have had no work at all while I still continue to get at least 1 assignment a year.

I am grateful but it does get hard. I start to wonder if my goals are reachable, if a home or children is financially even possible.

I do hope my current position calls me back but I'm going to stay strong and hope for the best. I stand by my work and efforts and just soldier on to the next job. This time though unlike the last time I have a bigger buffer than before, which is good because I might end up needing it!

5 Responses to “Somewhat upset but hopeful”

  1. Rachael777 Says:

    I have been reading for your blog here for a short while and I think you should be PROUD of your achievements. You ahve achieved a lot with little income and lots of uncertainty. Keep plugging away .. you are doing well. Smile Rachael

  2. snafu Says:

    I too offer kudos for all you've managed to do with short term/part time work since SA blogging. I'm guessing you've little time to search for full time, career employment. I've no idea of your degree but if there is no permanent work in your area of expertise you may need to evaluate how your skill sets d household expense could apply to other careers. So many jobs have permanently disappeared since the economic contraction 2008 - 2011. I suggest thinking about putting together a comprehensive job search plan. It would be good to verify eligibility for unemployment. Is there a deduction on your payslip?

    I know young couples are doing their finances differently but I hope he is supportive and contributing to food and household expenses fairly and based on income ratios

  3. Permanent Temp Says:

    Thanks for the kudos guys!

    @snafu Might be a silly question but what does that deduction look like. I'm a W2 worker no benefits if that helps. My job title says contract.

    I will look for more jobs mine is in the science field so I've been able to translate to all sorts of jobs. I like the one I have now and would like to do similar work. I'm currently working on my resume to tailor it to getting calls for this sort of work so I don't have to go back to the lab.

    My husband and I have separate accounts because I make more than he does when I am employed and I have twice the amount of debt he does due to my student loans. He has a few credit cards that are all at a low balance and will be paid off in a few months. Once those are gone he plans to save more. He helps how he can. I didn't marry for money lol. As long as he handles his own bills I am happy. But lately I have tried to stress the importance of saving for retirement so I'm not carrying that responsibility all by myself.

  4. crazyliblady Says:

    Kudos to you for doing so well, and don't beat yourself up about not doing better. Paying off credit cards is not easy when you are gamefully employed, so give yourself a pat on the back. In addition to putting more into savings before your job ends, have you considered stocking up on some essential items also to help you get through when your paychecks will be less or unpredictable? Maybe stuff like toiletries, canned goods, etc.? Don't forget to get a good reference from your supervisor and update your resume with current experience.

    I agree with the others. You may be able to get a job in an area that you would not expect. What is your degree in?

  5. Permanent Temp Says:

    @crazyliblady: Thanks! I don't want to post on here on account of remaining somewhat anonymous. But I will say it is in science.

    The job I have now is one I totally didn't think I'd get and I'm so happy, it pays well and I'm out of the lab. I'm looking into getting a certification through a professional organization so that I can stay in this field and stay out of hard work, low paying lab jobs. I have been focusing on my resume and next week I'll have time to make it all shiny and new and put it out there to hook something while this project is winding down. For the first time I'm kind of excited about the possibilities instead of dreading it now that I have this experience from this job. I do plan on asking my supervisor for a good word. The supervisor from my last job is on my linked in as are many of my other past co-workers. I hated being laid off but it was a blessing in disguise because I'm not longer a lab rat.

    I began stocking up on toiletries etc during my last temp job. I took on couponing and keep up with it. The cost of the newspaper is negated by the large amount of coupons (or probably more so by the fact they double) I redeem each month which is nice. I also make sure I load them up electronically stay up on sales and stock up and get printable coupons. It has made our grocery cost stay relatively low. We have enough laundry detergent and toilet paper to last us a few months, plus toothpaste, cough medicine etc.

    We eat a lot of fresh produce which is cheap and canned beans are only about 80 cents a can. I don't eat meat so that greatly reduces cost. I would make my own (from dry beans) but its so time consuming I wouldn't and then end up eating out instead. If hubby wants meat he pays for it.

    I think I'm more worried about the gap in time between this job and the next than the prospect of actually landing a job which is a nice place to be.

    I'm also hoping that if I get this certificate I might be able to have more marketable freelance skills aside from my writing skills and possibility of tutoring. I also have a temp agency that gives me temp jobs like day jobs as a secretary etc, I don't want to accept one of these long term since its outside of my field and would seriously lower my hourly rate and ability to pay my bills never mind save and pay off debt.

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