Category Archives: Career

The Beat Goes On

Thus far, we have done a pretty good job of reducing our expenses while my wife is searching for a new job. To further help our cash flow, we have decided to postpone a $165 deep cleaning that my dentist wanted to schedule this month. Also, if my $1000 business expense posts before my wife has a new job, we will likely pay the minimum to preserve cash.

My wife has had many interviews with various companies and is seriously considering an offer from one. She has arranged a 2nd meeting to learn more about the company and the position before making her decision. The position is in a field that she is not experienced in, but the company has a training program to get her up to speed and she would receive existing accounts in a protected territory. They would like her to start Tuesday of next week, which is great timing for us.

The offer is a $35,000 base, 20% commission, milage reimbursement, laptop, cell phone, and 100% medical insurance paid for. Unfortunately, they do not offer a 401(k), but they are considering adding it down the road. I am only contributing $2,000/year to my 401(k) currently, so we have plenty of room to increase our contributions.

Stay tuned.

Cash Flow

My wife’s 2nd to last paycheck arrived last night via direct deposit. We were expecting it to be somewhere between $1,000 and $1,100. It ended up being $1280.88! That extra cash is a God sent at a time when cash is critical.

One element of our finances that we have never included in our balance sheet is our checking account balance. This number fluctuates each month, depending on our expenses, and is not worth tracking in our balance sheet. With my wife currently searching for a new job, this number is important given that we’re much more focused on managing our cash flow.

We typically keep a few hundred dollars above and beyond our normal monthly expenses in our checking account. This “extra” money is usually somewhere between $300 and $600. Whenever this “extra” money gets higher than $600, it is moved into our online savings account.

Thankfully, it looks like we will have somewhere between $500 and $600 “extra” in our checking account at the end of August. This will help greatly as we manage our cash flow during my wife’s job search. In fact, our cash situation is looking so strong that, with reducing expenses and receiving unemployment benefits, we should be able to get well into October before having to resort to tap into our saving accounts.

That is a very good feeling.

Wife Laid Off

There have been rumblings at my wife’s company that trouble was on the way. Well, yesterday, trouble arrived.

My wife’s company laid off 75% of their employees, agreeing to pay them until September 5. The remaining skeleton crew will likely finish the final business before the company closes their doors.

My wife receives her standard paycheck via direct deposit tonight at midnight. We’re not holding our breath on the final check they promised her on September 5. Unfortunately, it’s hard to get blood out of a turnip. Thankfully, this happened at a time when our savings is higher than it’s been in months ($3,326.97). In addition, my wife is expecting a final commission check from her old job (~$1,000) and a commission check on a job that she referred to her dad’s company (~$700).

It’s disappointing because my wife enjoyed her work, got along well with her co-workers and bosses, and had an opportunity to earn great money. She also quit her old job only a month ago and is forced back into the job search. Other employees that were hired by her company just a month or two ago moved here from out-of-state to start their careers. Now, after spending the money moving out here and signing apartment leases, they are left without a job. What shocked me the most was to hear is that they hired another group of employees just last week. These people probably left decent jobs, just like my wife, only to be unemployed a week later.

There’s no time to cry over spilled milk. My wife has hit the ground running. In less than 24 hours of receiving the news, she has already updated her resume, had one face-to-face interview, had a phone interview, and spoken with a recruiter. Tomorrow, she has a phone interview (set-up by a retired VP of the company that she knows), plans to do some marketing for her father’s company, will investigate her unemployment benefits, and will continue her online job search.

We have put together an action plan to limit our expenses and increase our cash flow while my wife is between jobs:

Thanks to my wife’s extra commission checks, and our plan to reduce expenses, we probably won’t have to dip until savings for at least one month. After which time, our savings should last a couple of months. Worst case scenario, if we blow thru our savings, we can consider placing charges onto our credit cards or pull contributions from our Roth IRAs. I don’t see it getting to that point as I’m confident that we will pull thru this hiccup without any long term damage.

Wife’s New Job Benefits

My Wife’s new job compensation and benefits are awesome. Here they are at-a-glance:

$40,000 base salary during 12 months of training + bonuses + commissions + travel + expense account + laptop

Insurance (starts in November)
Health insurance:$48.00/month vs $84.01/month previously
Detal insurance: $3.23/month vs $8.08/month previously
Vision insurance: $2.08/month vs none previously (paid 100% of contact costs)

401(k) (starts in January)
401(k) match of 50% up to 6% of her salary (4 year vesting schedule)

Misc (starts immediately)
Less driving will save us ~$100/month
Better training
Nicer/more qualified boss
Exciting new field

Busy Week Next Week

I will be out of town from next week for a business trip. It will be nice to get out of the office for a few days, same some money on food and gas, get some cash back rewards for charging business expenses to our rewards card, and rack up a few more frequent flyer miles.

My wife starts training at her new job next week, while finishing up the first of her last two weeks with her current employer. They are going to be long, but exciting days for her.

Career Change

My wife has been eager to leave her current company because her new sales manager is difficult to work with and doesn’t know anything about their industry. She also has seen indications that the company’s profitability is way down and there may be major problems ahead.

My wife has been interviewing with a great company for the past 1-1/2, and completed her 3rd and last interview with them today. The final interview was with a panel composed company upper management. As part of the interview, she was required to give a detailed sales presentation to the group. She nailed it. The group told her that she was one of the strongest candidates they have ever had. Needless to say, they offered her the job and she gratefully accepted. She starts with the company in 2-1/2 weeks, just enough time to tie up loose ends with her current company and give them proper notice.

The new job offers a much greater commission/bonus potential and better benefits than her current company. She should know more about the benefits next Tuesday, when she completes new hire paperwork. However, she has already learned that the health insurance is great and they offer a company matched 401(k).

I’m so proud of her. Not only did she get the job, she is joining the company as one of their top candidates, having already caught the eye of upper management.

My Wife Graduated!

I should have posted this sooner. The commencement ceremony was last weekend, and we had a nice party afterwards to celebrate the special occasion.

My wife received a psychology degree from a UC school; graduating with a 3.5GPA. She currently has a good paying, flexible outside sales position, but wants to get into pharmaceutical sales. I have no doubt that with her education background, leadership skills, and personable disposition, that she will be successful in any endeavor she wishes to pursue. Plus, she’s gorgeous, so that helps too.

Great job sweetheart!