But it will be a while before he gets paid…
As regular readers know, the company for which DH telecommutes has been having cash flow problems and they had to shut down for a couple of months. They were supposed to get back to work in July, but the contract that was supposed to put them back in business for the next 2 years (give or take) kept not getting signed. Finally it did get signed!
DH and I were able to save up enough to not worry about his lost income and DH’s direct boss is in a similar situation. It’s been a bit tougher for a couple of the other employees, but it seems like they’ve stuck around. Anybody who was going to leave left when the company started showing signs of trouble.
Sadly, even though the grant has been signed, it’s going to take 20 days from the first pay request for the grant to start paying out, so that will mean a month and a half without pay even after people have started back to work. Again, not a huge problem for us since we saved for this, but I feel bad for a few of DH’s colleagues.
Also, annoyingly, they’re keeping the 10% paycuts for now (and any retirement matching) which is irritating, but I don’t think we’ll complain about it until things settle down a bit and the boss is able to pay back some of the debt he’s taken on keeping the company’s health insurance paid.
So what does that mean for us financially? Well, we’ll be back to being upper-middle class again, but I’m not sure that I’ll feel quite so much like throwing money around like water. So we probably won’t redo the kitchen and we’ll probably stick with a Prius or something when my car finally bites the dust. And I won’t be signing up for silly overpriced subscription services (#notallsubscriptionservices) even if they look fun and so on. I think some of the worry about our income will be sticking. Though it took a while to start feeling free with money the first time around too. We will still continue to give money to charity and politics at higher levels.
I think I will probably start putting more money away in stocks so it’s out of sight, even though I don’t know when the market is going to crash. Or I might keep it in cash in case we need to flee to Canada. I don’t know. It really sucks to live in interesting times. But it’s nice worrying about what to do with extra money. And we’ll have quite a bit of time to decide– I don’t get paid until October so we’re still spending down our savings and if and when DH’s paycheck starts up it will only be covering expenses.
I definitely see an allure of being truly financially free– instead of thinking, well DH can just not work for 3 years and we won’t be putting a crimp in our lifestyle, how nice would it be to say he never has to find a job unless he wants to? Don’t get me wrong, he likes work, but it would also be nice to have more options. Or if we could afford to move to Paradise without anything lined up if we got too fed up with our state government. But again, even at an upper-middle-class salary, it would take a long time to build up that kind of savings. So are they worth sacrificing for now? Probably not. But I could do a better job of feeling artificial scarcity so our lifestyle doesn’t inflate too much. Or maybe I should just embrace the benefits that having so much income brings.
In any case, this is something I can worry about after school starts. Until then, I’ll be spending down our savings account on things like daycare (technically we just gave them the last check), insurance, and groceries. Mark in your calendars that our money posts will probably start getting obnoxious again sometime in November. ;)