Hi, I am really in a financial bind, right now. I seriously live from paycheck to paycheck. And every check I absolutely have nothing to save out of it. Anyhow, I was offered a job at another firm, and there willing to pay $2.50 more than what I'm making now? It's basically doing the same thing I'm doing here, with maybe just a tad bit more responsibility.
What should I do?
2006-12-04 05:49:07 · 19 answers · asked by me 1 in Business & Finance ➔ Careers & Employment
take the position if its 2.50 more an hour it makes a huge difference think about it this way its what they are offering you now to start there may be more raises in the future and if you are living fom paycheck to paycheck maybe you should review your budget and try cutting down some frivolus things and try saving at least $100 from each paycheck to savings account that will only let you take out money if you go into the bank to get it out( it takes away the convienence factorr)you could be making yourself a nest egg of at least 2500 a year and believe me it adds up and makes a difference
P.S. Take the Job
2006-12-04 05:55:41 · answer #1 · answered by Kara B 3 · 0⤊ 0⤋
You might want to use a savings calculator to calculate the overall value of this job change. $2.50/hour roughly equates to an additional $66 per paycheck (after taxes and other things are taken out). That equals $1,716/year.
If you put all of that into a retirement account with an annual rate of return of 8%, and if you are currently 30 years old, just that single investment alone would be worth $25,372 when you retire at 65. If you put that same $1,716 in every year, you'd have over $300,000 at retirement!
2006-12-04 14:05:16 · answer #2 · answered by Richard H 2 · 0⤊ 0⤋
That is a significant difference. As long as there aren't any additional expense with the new job that will eat the $2.50 up, go for it.
A little advice: Do not raise your cost of living whenever you get a
"raise" and you will move away from living paycheck to paycheck.
2006-12-04 13:56:54 · answer #3 · answered by Marcus S 3 · 0⤊ 0⤋
$2.50 per hour is a lot more - I would take it if I could handle the responsibilities.
Try too look at each job move as a type of "growth" and try to take on extra work. If you are not sure of what this means - talk to bosses and supervisors at all jobs about "responsibility" and growth. Don't make it seem as if you are only looking for immediate money (even if you are) - make it seem as if you are curious. Talk to them when it is not a busy time and then shut you mouth and listen. A lot of them will not know what they are talking about and a lot may of them may sound like jerks - but you can learn something from anyone.
2006-12-04 13:53:27 · answer #4 · answered by All The Answers 2 · 1⤊ 0⤋
$2.50 per hour, definately makes a difference
salt away the 2.50 and after 6 months maybe you wont be living paycheck to paycheck anymore. Make a few other sensible changes too maybe.
2006-12-04 13:52:59 · answer #5 · answered by kurticus1024 7 · 2⤊ 0⤋
You bet it's a good thing.
BUT, you also have to figure in other factors.
Do you have to drive farther to get to the new job? Is the shift different and would it interfere with your family life?
How are their benefits? Does insurance cover as well with more or less deductibles/weekly premiums for you? Will you get the same amount of vacation/paid holidays? Did you lose sick time? Do they promise to give raises every year?
2006-12-04 14:00:44 · answer #6 · answered by parsonsel 6 · 0⤊ 0⤋
Go ahead and take it! I took a new job getting about that much more an hour and believe me, it makes a HUGE difference. It will surprise you when you see your first paycheck and see how much more you are getting. It really does make a big difference to help from week to week!
2006-12-04 13:54:04 · answer #7 · answered by kerrberr95 5 · 0⤊ 0⤋
Well, if you work full time you will make extra $100.00.. if you live from your paycheck, I believe every penny would help, take it
but,
also consider how long you have been with present company and if youfeel promotion/raise anytime soon.. if it's possible, then stay where you are
2006-12-04 13:53:43 · answer #8 · answered by ? 3 · 0⤊ 0⤋
2.50 and hour more, 2.50 a month, 2.50 a year more?
i guess that depends, do you have to drive more, or expenses?
opportunity for advancement?
do you like the people you work with now?
i think you need to list all the pros and cons, then make your decision.
2006-12-04 13:53:23 · answer #9 · answered by Chrispy 3 · 0⤊ 0⤋
2.50 an hour? thats $20 more a day. is it more of a commute? will you have health benifits? are you attatched to where you work now or your co-workers?
what's the enviroment at the new job like?
weigh all the pros and cons then you can make a logical choice.
2006-12-04 13:53:04 · answer #10 · answered by Confused 4 · 1⤊ 0⤋