Comments on: What’s Your Financial Outlook This Year?

By: TARDIStime

TARDIStime — Wed, 09 Jan 2013 03:43:44 +0000

Feeling confident about 2013.
Enrolled in a Bachelor of Health Science on Monday night, so am $43K in the hole. But I am $43K in the hole with the Australian Govt (not too bad, as established by the Billfold) instead of Sallie May.
Will be leaving my comfy, cushy, salaried job for part-time temp work while my partner has been promoted and is being dicked around re: payrises and new contacts, so not sure if we’ll ever see much more money than right now this year.
I choose to be confident anyway and hope for the best and not for any unexpected expenses over the next 4-5 years while I study!
But I will be excited to leave my cushy job because it is also unfulfilling, so yay!

By: sventurata

sventurata — Mon, 07 Jan 2013 20:28:52 +0000

@Stina That is a great way to approach it! I appreciate the fresh perspective. Here’s to good contracts for us both in 2013.

By: DarlingMagpie

DarlingMagpie — Sun, 06 Jan 2013 21:23:52 +0000

This year is the first year in a decade, since I started University and took a post-grad a few years later, that I will have a positive net worth. Note I didn’t say debt free, but I will be very close. Luckily my investments and my savings are there to help cushion me until I’m finally out of the clear in mid 2014.

By: fennel

fennel — Sun, 06 Jan 2013 18:41:25 +0000

I don’t know — but I think things are looking up in the New Year. I may go from being under-employed to employed at the level for which I was trained. I’ve also been more frugal with purchases, in the hopes of having something big to save for soon if the job thing works out – like a house, or even child care expenses for a baby, or a few big trips… but a lot of it depends on the job front.

It’s a little scary seeing how many people have posted about car payments. Maybe Billfold should do a feature on the economics of cars soon. I know that for lots of people, especially in some parts of the country, there is no choice but a car loan, because you need it, but it puts you in such an awful position financially: paying positive interest on an investment that is depreciating as soon as you buy it. Right after credit card debt, a car loan is one of the worst things you can do even though it is so common in the US — it just makes me shiver with apprehension.

By: Stina

Stina — Sat, 05 Jan 2013 18:30:13 +0000

2013 should be fine. The only thing is that I have contract-based employment and my current funding runs out at the end of 2013. The way my job works though is that my section applies for the projects and I work on whatever they get, so it’s out of my hands. But my section head is well-known and respected so future funding seems likely.

But I am trying to use this year to revise the resume and get some additional skills that will be useful in my current position. In the unfortunate circumstance that no new projects are found, it will also help me get a new position, should that be necessary.

But if the worst case scenario should happen my husband does make enough to support us (though I am the higher income earner). So we are much more fortunate than most, which I am grateful for.

By: Stina

Stina — Sat, 05 Jan 2013 18:14:30 +0000

@sventurata How much do you like your seasonal employment? I know it apparently doesn’t pay well but do you like it? If yes, then maybe you have to re-orient your thinking on your goals. You might never attain (insert other goal) but you have chosen instead to keep your career and your partner/pets etc. etc.
If not, redouble your efforts on networking and learn about what other jobs you could get right now are actually like and how to get them. I have seen a lot of people waste a ton of money to get schooling for a career that sounds neat or profitable only to find themselves miserable in them. Maybe instead of a total reboot (i.e. a new degree) a slight sideways move would result in more money and/or happiness for you.

But best wishes whatever happens.

By: Madeline Shoes

Madeline Shoes — Sat, 05 Jan 2013 17:40:53 +0000

@Saralyn@twitter congrats on the new place, though!

By: Madeline Shoes

Madeline Shoes — Sat, 05 Jan 2013 17:40:09 +0000

@Saralyn@twitter Italy!! I’m super excited/super nervous – this is the first big trip I’ve ever paid for by myself…

By: sventurata

sventurata — Sat, 05 Jan 2013 00:15:53 +0000

I… don’t know.

On a positive note, my seasonal job is about to start up again, which means my income will go up again. Off-season, I did a pretty good job of cutting costs to stay within my severance pay. Not so sure I accomplished my other goals (networking, more education, etc.)

On a negative note, everything’s set to become more expensive (rent, utilities, employment-related expenses, added transit costs). I need to learn how to drive ($1000 for 10 lessons), take the tests ($50 admin fees) and get insured/pay for gas (??? Let’s say $200/mo insurance and $30/month gas for occasional driving). That is a HUGE stressor on my stretched-to-the-bone salary. Oh, it’s graduated licencing too, so I won’t even be able to rent a car or pass the final test for another 18 months. This is assuming I get enough driving practice to do so (I grew up in a rural area and am deathly terrified of city driving). I never had the money or access to a car until recently and it’s quite frankly terrifying me. I would only ever want to drive if I left the city. However, I can’t leave the city until I learn…

I can’t work two jobs as I have to be available 100% of the time during the season. I’ve looked, and looked, and looked for other work opportunities for YEARS and it’s just not happening. Unfortunately my region is bilingual, and short of spending tens of thousands of dollars (+ cost of living) to attend a specialized government language training school full-time, there’s no bloody way I will learn the (underused, barely relevant, was not taught in schools where I grew up) second language. Emigrating is a highly attractive prospect some days.

Going back to school for a (non-bilingual) trade would likely set me back another $30K, once moving, cost of living, tuition, and lost income are factored in. I would only enrol in a program with high employment prospects… so I’m not even sure how well I’d do, academically. I have two advanced degrees, for reference, in subjects that are apparently completely useless to the world.

I could relocate 1000 miles across the country for oilsands work, but I’d lose the things I’ve managed to buy over the years and struggle with the lack of car/high rental costs/loss of partner and pets.

So! Clearly I am a little stressed about the year. Any advice?

By: highjump

highjump — Sat, 05 Jan 2013 00:06:16 +0000

@EvanDeSimone Thanks for the solidarity. I feel somewhat bad for even mentioning it but I am about to leave my office after 12 hours of being here (which included a work-related lunch) to go buy a garment rack to store all my new clothes on. Privileged money/spending issues for sure, but still issues.