Comments on: How To Determine Expenses Associated With a Job Change http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/ Money Tips for a Better Life Fri, 25 May 2012 08:24:26 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Marriage and Careers in a Bad Economy - September in Review | Money Smart Life http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/comment-page-1/#comment-110990 Marriage and Careers in a Bad Economy - September in Review | Money Smart Life Sun, 05 Oct 2008 13:30:51 +0000 http://moneysmartlife.com/?p=985#comment-110990 [...] career finances.  We started off by covering relocation expenses and also included other job change expenses.  One of the major concerns when working for a new employer are the benefits that they offer [...] [...] career finances.  We started off by covering relocation expenses and also included other job change expenses.  One of the major concerns when working for a new employer are the benefits that they offer [...]

]]> By: How to Make Your Job Better or Find a Better Job | Money Smart Life http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/comment-page-1/#comment-107672 How to Make Your Job Better or Find a Better Job | Money Smart Life Sat, 20 Sep 2008 13:40:13 +0000 http://moneysmartlife.com/?p=985#comment-107672 [...] you do decide to leave your current job just remember to calculate the costs of a new job, carefully evaluate the new city if re-locating, plan for health insurance coverage, make sure [...] [...] you do decide to leave your current job just remember to calculate the costs of a new job, carefully evaluate the new city if re-locating, plan for health insurance coverage, make sure [...]

]]> By: Toys R Us Coupons and Age Discrimination http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/comment-page-1/#comment-105817 Toys R Us Coupons and Age Discrimination Mon, 15 Sep 2008 00:38:32 +0000 http://moneysmartlife.com/?p=985#comment-105817 [...] Smart Life: Changing jobs? Find out what expenses are associated with your job [...] [...] Smart Life: Changing jobs? Find out what expenses are associated with your job [...]

]]> By: Friday Finance Findings for September 12th : Generation X Finance http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/comment-page-1/#comment-105260 Friday Finance Findings for September 12th : Generation X Finance Fri, 12 Sep 2008 15:45:05 +0000 http://moneysmartlife.com/?p=985#comment-105260 [...] How To Determine Expenses Associated With a Job Change -I see a lot of people get excited and jump into a new job opportunity, only to later realize that not everything was as good as it seemed, and there were a lot of other “costs” associated with the move. Make sure you take into account everything that a job change will bring. [...] [...] How To Determine Expenses Associated With a Job Change -I see a lot of people get excited and jump into a new job opportunity, only to later realize that not everything was as good as it seemed, and there were a lot of other “costs” associated with the move. Make sure you take into account everything that a job change will bring. [...]

]]> By: Jerry http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/comment-page-1/#comment-105155 Jerry Fri, 12 Sep 2008 10:31:27 +0000 http://moneysmartlife.com/?p=985#comment-105155 I have found that commuting expenses can lead to a VERY big difference between jobs, and there can be other costs that sneak up on you... making sure that you are deciding between apples and apples with insurance and other benefits is also extremely important, depending on your situation. Jerry I have found that commuting expenses can lead to a VERY big difference between jobs, and there can be other costs that sneak up on you… making sure that you are deciding between apples and apples with insurance and other benefits is also extremely important, depending on your situation.
Jerry

]]> By: marci http://moneysmartlife.com/new-job-how-to-determine-expenses-associated-with-a-job-change/comment-page-1/#comment-104671 marci Wed, 10 Sep 2008 16:32:31 +0000 http://moneysmartlife.com/?p=985#comment-104671 Savings: Take advantage of what your new situation offers: In my case - there were added benefits due to the nature of the company I work for - recycling and garbage transfer. Free company cell phone unlimted usage, and as we're into recycling, including autos, some recycled gasoline. I also get free discarded lumber for firewood, decks, landscaping timbers, garden containers, metal hardware. Time Savings: Better Schedule: Negotiate for flextime or a different schedule if possible. I can take off with just a phone call if I need to pick up grandkids at school, go on a field trip, or have one of them at work with me for the afternoon when necessary. Once the job was going well, I negotiated a drop in hours - from 5 to 4 days a week :) Time for family! Another benefit - no union dues! That saved me $42/month. Time Lag Expense: My 401K didn't kick in at the new job for 12 months - so there is that expensive timelag - but they match 6% which the old job didn't. There might be a lag in health insurance til it kicks in.... Will you have to make COBRA health insurance payments for 30,60,90 days? Lunch Out Expense? Another expense could be lunches out... I am used to brown bagging it, so when I got my office (one girl office) I asked for a used refrigerator and a microwave, which they were happy to provide. Then I brought in a small combination broiler/teapot and I am all set for making breakfasts, lunches, or dinners at work. I keep groceries and silverware/dishes here - that saves a LOT of money. Additional Savings: Due to the smaller workforce here, I save money by not having to donate to office pools, gift pools, or co-workers' kids' fundraising activities :) Automatic Deductions: Will you lose money/savings because they do not have an automatic deduction for 401 or pension etc? Will you lose money/savings because the paycheck is not deposited automatically? If so, set up your own autopays with your bank for keeping things on track. Insurance: Some companies offer life, disability, cancer insurance, etc.... find out if you will loose those, if you can move them over, or if your new company has them. My change was 18 months ago - and I've never been happier :) Savings: Take advantage of what your new situation offers:
In my case – there were added benefits due to the nature of the company I work for – recycling and garbage transfer. Free company cell phone unlimted usage, and as we’re into recycling, including autos, some recycled gasoline. I also get free discarded lumber for firewood, decks, landscaping timbers, garden containers, metal hardware.

Time Savings: Better Schedule:
Negotiate for flextime or a different schedule if possible. I can take off with just a phone call if I need to pick up grandkids at school, go on a field trip, or have one of them at work with me for the afternoon when necessary. Once the job was going well, I negotiated a drop in hours – from 5 to 4 days a week :) Time for family!

Another benefit – no union dues! That saved me $42/month.

Time Lag Expense:
My 401K didn’t kick in at the new job for 12 months – so there is that expensive timelag – but they match 6% which the old job didn’t.
There might be a lag in health insurance til it kicks in…. Will you have to make COBRA health insurance payments for 30,60,90 days?

Lunch Out Expense?
Another expense could be lunches out… I am used to brown bagging it, so when I got my office (one girl office) I asked for a used refrigerator and a microwave, which they were happy to provide. Then I brought in a small combination broiler/teapot and I am all set for making breakfasts, lunches, or dinners at work. I keep groceries and silverware/dishes here – that saves a LOT of money.

Additional Savings:
Due to the smaller workforce here, I save money by not having to donate to office pools, gift pools, or co-workers’ kids’ fundraising activities :)

Automatic Deductions:
Will you lose money/savings because they do not have an automatic deduction for 401 or pension etc? Will you lose money/savings because the paycheck is not deposited automatically? If so, set up your own autopays with your bank for keeping things on track.

Insurance:
Some companies offer life, disability, cancer insurance, etc…. find out if you will loose those, if you can move them over, or if your new company has them.

My change was 18 months ago – and I’ve never been happier :)

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