Wednesday, July 17, 2013

Good News

Can there be any good news when it comes to a layoff?  I really don't know, but I do choose to see some positives.

First, Mr. Sam gets a decent number of weeks of severance.  We have not figured out our "lay off budget" yet but my tentative plan is to try and save the vast majority of that money.

Second, Mr. Sam' health benefits, which are good, generous and cheap, continue well into the fall.  I am also covered by his health benefits due to the good, generous and cheap nature of them.  We do have to pay the biweekly amount (the amount that was deducted from his pay for his portion) to maintain these benefits but it makes economical sense to do so since my benefits are good but cost 4 times (or more, still figuring this out) as much as his.

Third, we have a decent amount in our emergency fund.  This money was bookmarked for other purposes but it is there.

Fourth, Mr. Sam started preparing for this lay off last year by taking some certification courses so he has some additional skills and certifications to add to his resume.

Fifth, I have a good job.  Frankly, this is the most important item on this list.  I have a good, professional job for which I am fairly compensated.  While we have not figured out our "lay off budget", will work on that this weekend, I'm generally confident (since I am well versed in our monthly income and expenses) that my salary can cover our fixed and basic monthly expenses.  I also have opportunities for bonus monies and we need to think about whether I should up my output to make sure I am eligible for same (and at what level).

1 comment:

ipenka said...

Very sorry to hear about this. While obviously not a good situation kudos as you two are an example of the benefits of planning ahead and taking care of your personal finances.

Working to get there but would definitely be in trouble if the same happened to me now.