| Aspect | Details |
|---|---|
| Current Position | Recently promoted to a manager role, switched from hourly to salaried. |
| Expected Pay Increase | Expected an increase of $6-$7 per hour. |
| Actual Pay Increase | Recent paystub shows only about $100 more Reddit personal finance |
| Previous Hours Worked | Averaged around 90 hours per pay period as a technical employee (including overtime). |
| Current Work Expectation | Expected to work around 45 hours a week, which totals to 90 hours per pay period. |
| Pay Discrepancy | New salary does not adequately compensate for the loss of overtime pay, resulting in a lower effective hourly rate. |
| Company Benefits | 401k matching, insurance, and PTO are part of every employee’s package, not additional for the manager role. |
| Initial Salary Negotiation | Pushed for a higher salary, turned down an hourly offer that was lower, with the aim to be “paid more per hour”. |
| Concerns | Feel demoralized by the insufficient pay increase and the prospect of waiting a year for a possible raise. |
| Action Plan | Plan to request a meeting to discuss the pay discrepancy, potentially negotiate for a performance-based raise or additional benefits. |
| Backup Data | Prepared numbers showing the pay disparity due to loss of overtime. |
| Potential Discussion Points | 1. Requesting a salary adjustment based on actual hours worked. 2. Proposing a performance-based raise after a few months. 3. Exploring additional benefits or bonuses. |
| Personal Sentiment | Enjoy the company and the position, but feel undervalued financially. Confident in the ability to meet and exceed job expectations despite being an entry-level manager. |
Create a “fun” savings account Reddit personal finance
- Problem: The switch from hourly to salaried did not result in the expected increase in pay, mainly due to the loss of overtime compensation.
- Solution: Plan to discuss the issue with management, providing clear evidence and proposing potential Reddit personal finance
Recommendations for Discussion
- Schedule a Meeting: Request a formal meeting with your supervisor or HR.
- Present Evidence: Show calculations of your previous hourly earnings with overtime compared to your current salary.
Tips for on a tight budget reddit personal finance
| Aspect | Details |
|---|---|
| Income | ~$8,000/month after taxes |
| Expenses | ~$6,000/month (mortgage, insurance, student loans, utilities, phone, internet) |
| Discretionary Spending | ~$2,000/month (food, entertainment, etc.) |
| Current Budget | Tried limiting to $500/month for discretionary spending |
| Challenges | Frequently overspending on small purchases (e.g., Starbucks, dining out, impulsive donations, stress purchases) |
| Common Expenses | – Starbucks lattes with coworkers<br>- Paying for friends’ dinners<br>- Stress purchases (pizza and dessert)<br>- Impulsive donations<br>- Giving money to street performers/scammers<br>- Mobile game spending |
Tips to Stick to a Budget
| Tip | Description | Source |
|---|---|---|
| Set Clear Financial Goals | Clearly define why you want to save money (e.g., paying off mortgage early, building emergency fund) to stay motivated. | |
| Automate Savings | Set up automatic transfers to your savings account each month to ensure you save before spending. | |
| Track Every Expense | Continue to log all expenses, but add categories for small purchases to see where the money goes. | |
| Limit Cash on Hand | Carry limited cash to avoid impulsive spending. | |
| Use Budgeting Apps | Use apps like Mint, YNAB (You Need A Budget), or PocketGuard to help track and control spending. | |
| Set Spending Limits | Set strict limits on non-essential categories and stick to them. | |
| Create a “Fun Money” Account | Allocate a fixed amount each month for discretionary spending and use only that amount for non-essentials. | Chime |
| Avoid Peer Pressure | Politely decline expensive outings and suggest cheaper alternatives. | |
| Meal Prep and Pack Lunches | Continue bringing homemade lunches to avoid the temptation to buy lunch. | Clever Girl Finance |
To negotiate a higher salary Reddit personal finance
| Tip | Description |
|---|---|
| 1. Research Market Rates | Understand the salary ranges for your role, location, and experience level. Use resources like Glassdoor and industry reports to gather data. |
| 2. Focus on Value | Emphasize how you can add value to the company rather than just stating why you deserve more pay. Highlight your skills, achievements, and how they benefit the employer. |
| 3. Consider Perks and Benefits | Look beyond salary. Factor in benefits such as health insurance, retirement plans, bonuses, and flexible working conditions when evaluating an offer. |
| 4. Be Specific in Your Ask | Instead of giving a range, specify a precise number that is slightly higher than what you want to leave room for negotiation. |
| 5. Prepare a Strong Case | Back up your salary request with concrete examples of your accomplishments and how they relate to the job you’re applying for. |
| 6. Practice Your Pitch | Rehearse your negotiation speech with a friend or mentor to build confidence and ensure you can present your case effectively. |
| 7. Use Email for Counteroffers | Sending your counteroffer via email allows you to articulate your points clearly without the pressure of a live negotiation. |
| 8. Be Ready for Responses | Be prepared for immediate responses and know your next steps. Recruiters might respond quickly to your counteroffer. |
The best ways to save money on groceries reddit personal finance
| Tip | Description |
|---|---|
| Plan Your Meals | Create a meal plan for the week to avoid impulse purchases and reduce food waste. |
| Make a Shopping List | Stick to a shopping list to avoid buying unnecessary items. |
| Buy Generic Brands | Opt for store brands instead of name brands to save money without compromising quality. |
| Shop with Cash | Use cash instead of credit cards to limit your spending to the budgeted amount. |
| Use Coupons and Apps | Utilize couponing apps and store loyalty programs to get discounts and cash back. |
| Buy in Bulk | Purchase non-perishable items in bulk to save in the long run, but avoid overbuying perishables. |
| Choose Seasonal Produce | Buy fruits and vegetables that are in season, as they are usually cheaper and fresher. |
| Reduce Meat Consumption | Meat is often the most expensive part of the grocery bill. Substitute with plant-based proteins. |
| Stick to Whole Foods | Processed and pre-prepared foods are more expensive. Buy whole ingredients and cook from scratch. |
