Well, it looks like I’m safe for about another year at my job.  There is talk that they won’t be switching over branches in my area to the new bank until third quarter of next year.  Also, I heard that they’ll look to find me a comparable position to the one I’m in currently, and if they can’t find me one, I’ll most likely get three months pay as a severance package.  I’m breathing a sigh of relief.  Rather than wallowing in my sorrows, I’m going to make a financial plan and stick with it for the next 9 months or so.

• I am planning on paying off the last student loan in nine months.  We owe $6850 on it.  That’s a payment of $760 a month.  It sounds astronomical, but I think we can do it if we really focus.  Any extra snowflake money will go towards it.  I think that the peace of mind from having that gone, and having one less payment will be worth it.  Then it’s to attack that car loan.

• I will still save 20% of my paycheck in savings each pay period.  This way I’ll still feel that I’m proactively saving money.  Every little bit helps!

• I’ll continue to make minimum payments on our other debts, and maybe some small principal only payments as well.  

• I need to come up with a zero based budget.  For some reason this scares the bejeebus out of me!

What is your opinion of my financial plan?  Do you think I should keep saving instead of paying off that loan early?

Posted under Economy, Jobs

I’ve been putting this off for a few days, but it’s inevitable, and the sooner I write about it, the sooner I can come up with a plan.  On Friday, the financial institution I work for was purchased by another bank.  The only problem?  The bank has many branches already existing in the area I work.  The odds they’re going to shut down my branch (and leave me without a job) are very high right now.  It makes me sick to my stomach to think of this, but I need to come up with a plan, and make sure I can execute it.

No spending month is going to be no spending ever. Well, really we can’t do that, but we can make sure we’re not spending money on things we don’t need. I think doing the no spending month has prepared me in many ways to cut back, and it’s also taught me a lot about what I can do instead of spending money, and how little things we actually need. We’re just going to have to be really careful, and I’m hoping that we can make it on Mr. Money’s income.  Of course, I’ll have snowflake money (that I usually use to pay off debt), and I can try harder to make money online, and that should definitely help. I’ve been trying to sell things on craigslist and ebay, but haven’t had much success with that.

The market is going to be saturated with people looking for new banking jobs.  With the amount of branches that I’m anticipating will be closing, it’s going to be really hard to find a new job in my field.  I am thinking about going back to school for nursing, but I don’t want to take out more student loans.  I’m going to wait and see what happens before I decide to go back to school.

This is going to allow us the opportunity to see if we can really live on one income.  I’ve always wanted to stay at home when we have children, and this is going to be our trial run.  I’m nervous but glad we’ve got our emergency fund, and you bet that any extra money I find in the next few months will be going straight into our emergency fund.

I never thought this was going to happen.  I thought our bank was safe, I thought my job was safe, I thought I would retire from this company.  I’m really let down, but I’m going to make the best of this situation.

Do you have any advice for me?  What would you do if you were in my shoes?

Posted under Economy, Jobs

With all the drama that’s happened to me over the past few months (personally and professionally), I am happy to say that I have finally gotten some relief.  I was moved from the branch I was at to another branch, only six miles from my house!  Even better, I am now three minutes away from Mr. Money’s restaurant, so on Fridays when I get an hour for lunch I am able to go eat lunch there and visit him.  I am really excited!

With this move comes some factors affecting our money situation.  Sadly, I am unable to carpool right now. I’m stuck driving to work by myself and stuck paying for gas by myself.  I have almost cut my drive in half, so that should be a good thing.  Plus, the grocery stores I like to frequent are on my way home, so if I am in need of groceries, I can pop in the store on my way home, unlike now.  I have been shopping at our local Kroger and I have noticed that (even though it is so convenient- 2 miles from home) the prices are so much higher than Meijer!  For instance, the 1 lb. spinach container we buy is over $6 at Kroger, and only $4.99 at Meijer.  Plus, avocados are $2 each at Kroger, and $3/5 at Meijer.  Great savings!

Personally, the biggest factor in all of this is the stress relief.  After just one day I feel so much better being at this branch.  I do realize that there are going to be problems I’ll have to deal with, but this branch is slower paced and it seems like I can get some footing underneath me to be able to pick up things better and not be so darn stressed!  No job is worth any amount of money if it makes your life miserable.  That’s what was happening to me.

I’m going to track my gas mileage and see how much of an effect this new move has on our money.  Our grocery bill should go down, gas may remain the same or go down as the speed limit is 35 miles per hour on the road I take to work, but all in all I think it’s worth it.

Persistance pays off!

Posted under Jobs