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£67,031.92 is a frightening number indeed....
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DH has had his payrise meeting. Good and bad. He has been offered a rise (good) but it's only about half of what he asked for (bad) and comes with an expectation of no further rises for 2 years as he works towards his next 'milestones' (bad - he wanted a 12 month program to his next rise). Also lots of inferences about 'greater commitment to the company' before any further milestones will be deemed to be reached, which equates, in his work environment, to working longer hours (for no extra money). He is cross as he works incredibly hard so he can leave on time, whereas his colleagues and boss all lame about all day and stay longer in the evening. The other probably bad bit is that it won't go through payroll this month as the person who can officially sign off the payrise is away for a week.
So all things considered it really isn't amazing, but when it finally comes through it will be an extra £120 a month or so, which will make a noticeable difference to how tight our budget is. I'm only planning to allocate a small proportion of that to extra debt payments - the rest will go on making our budget genuinely balance, rather than the current wishful thinking approach (e.g. DH has no clothes budget under the current plan, which is unsustainable, and only one person in the family can get a haircut each month, and the birthday pot is only £20 a month. Things like that).Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
Sorry the payrise not as much as you hoped but I guess it is something. Working in the public sector as I do we have had 1% for the last seven or eight years. Ironic that as I retire early at the end of this year my pension will be inflation linked so more than 1%. I think it is around 2.5% at the moment.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
Save £12k in 2025 #1 £12000/£80000 -
I'm glad that he got a rise and I'm sure that the £120 will come in really useful in balancing your budgets, but it's a shame that the conditions are attached to it. Particularly the insinuation that he has to work longer hours unpaid for the next two years to be considered for another rise.
Do try to think of it as a positive though. Next month, you'll be £120 better off than this monthCC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))
July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
*My debt busting and savings diary*0 -
TOPM, I'm just wondering whether you would be happy to do a new SOA? The one you had when you started this thread is quite outdated and it would be interesting to see how things stand now!Debt Totals July 2019::
[STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0 Total £7,0000 -
Also lots of inferences about 'greater commitment to the company' before any further milestones will be deemed to be reached, which equates, in his work environment, to working longer hours (for no extra money). He is cross as he works incredibly hard so he can leave on time, whereas his colleagues and boss all lame about all day and stay longer in the evening.
So I am not the only person who lives like this LOL everyone else happy to stay for no extra money until 7 or 8.00 pm whereas if the effort was put in by them all work could be done by 5.00
But they are the ones looking good to the boss.Totally Debt Free & Mortgage Free Semi retired and happy0 -
£120 is great and it will give you a little cushion instead of having to dip your sticky fingers into all your saving pots
Total Debt: [STRIKE]£24,359.79[/STRIKE] £16,452
debt reduced by 32%
Debt free date: May 20190 -
Silver_Queen wrote: »TOPM, I'm just wondering whether you would be happy to do a new SOA? The one you had when you started this thread is quite outdated and it would be interesting to see how things stand now!Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
Bad news re the pay rise conditions - I hope the £120 extra helps enough & makes enough of a difference to make you both feel it was worth the hassle - but my burning question that hasn't been asked already is did you tread on the playmobil whilst tidying the bedroom?!0
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Oh goodness, I hate work cultures of presenteeism. It's one of the many things that create barriers for working mothers, and it's a huge reason why I left my former career and now earn about half of what I would have been doing! Sorry your DH is up against that situation. Could he realistically look around for an alternative?MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 :eek: aiming for May 2028
14 August 2017 - Refinanced: $220,000
January 2019 $211,580 Current MFD 31 June 20360 -
Mum_of_2_monkeys wrote: »Bad news re the pay rise conditions - I hope the £120 extra helps enough & makes enough of a difference to make you both feel it was worth the hassle - but my burning question that hasn't been asked already is did you tread on the playmobil whilst tidying the bedroom?!armchairexpert wrote: »Oh goodness, I hate work cultures of presenteeism. It's one of the many things that create barriers for working mothers, and it's a huge reason why I left my former career and now earn about half of what I would have been doing! Sorry your DH is up against that situation. Could he realistically look around for an alternative?Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0
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