Just my 2 cents here, but no more bonus + stocks + 401K matching?? That seems like a pretty huge hit for you. If it were me, I'd probably be looking for other offers... you can't simply wait for your company to get its shit together.
Also regarding 401K, every bit of contribution matching helps especially since you are still young and in your 30s. So those small missed contributions definitely add up 30 years down the road.
I'd say at the very least, start looking for something else. If you get a job offer with the pay and benefits you are looking for, you can approach your current employer to see if they'll match it. Six months seems a bit extreme for a benefits hiatus, and if they are considering this move as a cost cutting measure on top of removing other benefits, then it's probably a clear indication the company is struggling, and likely only a matter of time before layoffs start happening.
Yeah, we had layoffs last week (and in Feb). We also had an forced unpaid week off in March. I guess I should probably start looking. Technical interviews are just the worst though -_-
Not getting a raise for a while and losing matching 401k contributions is a big deal IMHO. Inflation is dealing you at least a 5% annual pay cut right now unless you get a decent raise. Nothing wrong with shopping around your resume.
I got promoted last year, but it only came with a 7% raise. It lined up with our annual raises where people normally get 5%, so I basically got a 2% raise with extra responsibility
Definitely red flags, best thing is to start looking. Honestly should always be on the ready to make a change, even when things are going well a buy out or any number of things can quickly change the situation. I'd definitely but upset about missing the match especially with that much time to grow, it will be a very large difference at retirement.
At the very least that is a sign to dust off your resume and get it ready to post up the second they lay you off. And if you want to be proactive, look around and I bet you'll find something out there that matches or exceeds your current salary. I know certain sectors of the economy are booming right now. It's ridiculously hard to find programmers. (We've been trying to fill a slot in Tucson for a Microsoft full stack dev for like 6 months now. Although that is partly because corporate has posted an absolutely terrible job description with no salaray, and can't be bothered to fix it.)
Thank you for the suggestion. Yeah, I'm a systems engineer in the storage space. Things were booming the last few years, but now we're in a slump. I know the market is cyclical, but I've never worked somewhere where they decided touching the 401k's was a viable option. I'll look at some other sectors :)
Bonuses are discretionary. Stock is questionable, especially if it is not immediately 100 percent vested, 401k tells me they are completely out of money and can't / won't source additional funding.
In tech, you should always be looking at the next job, even if you are comfortable where you are. Loving what you do, who you work with, work life balance can all offset certain amounts of money, but knowledge and experience is either always growing or growing stale. I'm guessing at early 30s, you are not in an exec position and changing companies with lead to faster career growth than sticking around for the company to turn around it's books and promote you.
Did they give you a pay raise? If not, I would look for another job. Things aren't so tough in the tech world that opportunities don't exist, so shop around. You don't lose anything by shopping around, and you could get a much better deal.
Really wanted weekly "reserve" based budgeting. If I am under budget one week, that amount will get added to the reserve. And if I am over budget another week, that will take money away from the reserve. I also have the concept of "reserve expenses", not regular weekly expenses but usually bigger/unplanned that pull directly from the reserve.
Privacy: no ads, tracking, etc
No actual banking connections/APIs. Manually enter expenses.
A project I can improve over time. Been using it for over 10 years now.
I've been using YNAB since 2013 and I really enjoy the method, it fits with my lifestyle.
However, I went back to using the old YNAB4 when they announced the big price hike. I manually import the transaction files from my bank. It's easy and doesn't take a lot of time. I couldn't justify the new price, especially when taking exchange rates into account.
I have had a subscription to YNAB (you need a budget) for years now. It’s simple and straight to the point for exactly what we need. It pulls everything from my bank accounts smoothly. My partner understands it and is able to easily use it, which is extremely important.
I tried Mint and have suggested it in the past as a free alternative to folks who need help budgeting, but it tends to be too complicated for most that I’ve suggested it to. And that’s even after setting it up for them and showing them basic usage.
I used the GNUCash for a while. As a manual option, it was good for when I was importing everything to Quicken.
I no longer use quicken or manually import anything.
There’s not a lot of products that I’ll recommend, but I can say that YNAB is worth every cent.
I just use Excel, but I also don't track my spending at a very detailed level. I have a budget for the month, and I sort of adjust my spending as I go to make sure I meet that budget.
I've been using YNAB (You Need A Budget) and simply love it. I like that it's zero based budgeting, imports transactions with my banks, and allows me to track every dollar coming in and assign it to its proper category. While not the most helpful, I also like the net worth tracker and reports while on desktop.
I use YNAB throughout the month. At the end of the month I summarize my income and expenses in a spreadsheet so I can see how my spending trends over time.
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