This is the first month DH is getting his pay raise & I had completely forgotten that I had increased his contribution to the TSP account to 15% of his base pay.
Because of the pay increase, his take home pay is only $40 less each pay period. But we are saving a large chunk of his income.
In a way I'm grateful that I did that. As our incomes go up, we will automatically apply those to savings so we stay living within our means as we push our way out of debt.
Its a little backwards from Dave Ramsey's plan (after all we still have debt to pay off)... but I want to focus on not seeing a big paycheck every month that puts off savings.
The next step is to get me saving 15% of my income. Hopefully with a pay raise that will make things easier.
I'm confident I'm due a pay raise this time around. My bosses are going to do a "Personal Success Review" in 3 weeks with me and that is when I'll bring up that since my pay raise in March 2007, I have incurred (and continue to incur) additional responsibilities... in additional to inflation & my receiving my master's degree - I believe I'm due a fair wage.
I don't expect to be paid at the top of my job profession. As I mentioned earlier, working at home is a HUGE intangible benefit for me. However, just because I have kids is no excuse for me to be willing to accept a below average wage for the value I provide to the company.
Forced Savings
November 6th, 2009 at 07:10 pm
November 6th, 2009 at 07:14 pm 1257534881
November 6th, 2009 at 08:14 pm 1257538454
November 7th, 2009 at 01:20 am 1257556844