I Took a Pay Cut

Haven’t been here to write about my financial life in a bit. Don’t worry (it won’t happen again – I have planned blogging into my day like a real blogger).

I do have some great news – I have a job again!

Being someone with a small business to run (especially with a service and not a good), this takes a bit of a load off of my shoulders. I’m always tired but I have a steady check and I can move toward finally getting on my feet. So let’s celebrate.

The not-so-great news is that I took a pay cut with my new job. I am no longer a salaried employee and I only make $14.01 an hour. But as with every decision that I make, there is a method to my madness.

With my $14.01 an hour, I am eligible for overtime – to the tune of time and a half. I also receive amazing benefits that I only pay roughly $85 every two weeks (in my salaried position, I was paying over $200/month for just medical and dental). I will even have the option of contributing to a retirement plan (and I plan to take full advantage of this).

The other great thing about my pay cut? I qualify for some rental programs where I don’t have to pay market rate. In my salaried position, I made too much for these programs but not enough to pay the market rates of rent (thank you gentrification – this is me being cheeky). With my student loans, I am eligible for income-based repayment plans (look into those y’all) and my payments are now super affordable. So affordable, in fact, that I can pay over and make more of a dent in the principle amount. I am even a member of a credit union.

This is great. The pay cut is great. And I never thought I’d say those words.