Monday, February 11, 2008

Home today..and need of a new savings device...


I'm home from work today because my daughter is not feeling well. That makes 4 for 4. Both my daughters were home from college not feeling well, my son stayed home last week and now my other daughter. When I do not go into work, I do not get paid. I have no paid vacation or sick days. So I need to establish a savings account for just such a reason. We budget our money based on an "average" of my take home. My paycheck is different every pay period because I put in different hours. Some pay periods I end up working more and my take home is higher. I need to save that portion in a savings account (that I won't touch until I need it). But where should I put it? Should I hold it in cash at home? (That's pretty dangerous) or should I just direct it to a new ING account? I already have accounts set up for taxes, savings, and vacation. Whatever I do, I need to do it soon, as losing this day of work costs me approximately $100.00 net.

5 comments:

Canadian Saver said...

Sorry you are missing work again... hope everyone feels better soon!

I'd probably put your extra in an ING account... that way you could transfer to your checking if needed, but if you don't need it, you'll still be earning interest...

Are you just on a casual/term basis? I don't get vacation days either, but I do get 6% vacation pay on each paycheck... and I am accumulating sick hours, not a lot though!!

Sharon said...

I actually manage a sole practioner's law practice. I do all of the bookkeeping and paralegal work for him. I work 4 days a week, about 5 hours a day. Our "deal" is that I will get paid for when I work, that way I have flexibility when I need to take off for the kids. I'm finding out though, that many parttime jobs offer some sort of vacation/sick benefit. The job works well for the schedule I need now. I eventually would like to have my own bookkeeping business out of my home.

Lilo said...

Perhaps you should look into other options in the job front? There is no harm in looking especially if you know that there are part time jobs available with benefits. And yes, I would put the extra money on a high interest savings account. I have noticed emigrant direct is faster when you need to transfer money over to your checking account.
Good luck!

Canadian Saver said...

I'd LOVE to just work 5 hours a day, 4 days a week if I could swing it financially!!! Sounds great :-)

I understand though about wanting more benefits...

RacerX said...

First I hope you feel better.

I would go with the Savings route until needed as well. If the kids are old enough can they stay on their own, or if it is a major illness, it would be great if someone could helpout!