Monthly Archives: February 2015

Redux: Living with the parentals?

So with the new job beginning in March, we looked at our housing options. It will be back in Mr. Bacon’s hometown, and his father lives only a couple miles from what will be my company’s headquarters (and later 5 miles away from my new office, once it opens up). FFIL Bacon (future-father-in-law!) also has a beach house about 1.5 hours away and intends to live there full-time during the summer with Mr. Bacon’s stepmom (though whether he does or not is to be seen! He is considered “semi-retired” and has been known to go back and forth some).

Anyway, FFIL Bacon has offered us up the main house to stay in, rent-free, provided Mr. Bacon mows the lawn (which he loves to do). We hemmed and hawed, as it would be nice to have our own place, but in the end finances won out, and we figured, even if we could last 3-4 months there, that would let us save up for the wedding fund!

Remember when I was hesitant about moving back in with the parentals? Back in October, I was thinking MY parentals (in California) and not HIS. So this will be an interesting twist! But we will do it as long as we can, and hopefully it works out and isn’t too awkward. Heck, if we can last through September (our wedding), we may even have enough to grow our down payment/housing fund!

That’s the plan for now. We don’t have a horrendous amount of stuff (we’ve only filled a studio, and then our current one-bedroom condo), so we’ll put our stuff in storage and see how long we can stick it out!

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Taxes have been done!

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On a Friday (Jan 23rd), I got my W-2. I spent the next day, Saturday morning, doing my taxes. It was not crazy like last year, when I owed over $2500 (see “ouch, my taxes!“). Nope, not so bad at all. This year I owed Maryland $216 and actually got a $24 REFUND from the feds! Say, what!

It was amazing how quickly my returns were accepted too, when you do them as early as the end of January. Within half an hour of submitting them, they were both accepted. I just checked my account yesterday, and saw that within a week, I got my huge $24 refund (Jan 30th).

Not too shabby at all. Next January, I am looking forward to seeing what our tax situation will be like, since we are getting married and that’s supposed to come with all kinds of tax benefits right? Spouses with benefits! 😉

January update & negotiating like a PAWN star

It’s been quiet on the blog here as the ESCAPE PLAN was in full effect!

The January update essentially was the Escape Plan being implemented! As for debt, I paid the minimums again and am down to $70,910.54 (decrease of $292.65)…keep reading folks, because I’m no longer worried at all about this small creep in student loan repayment!

So how is the Escape Plan agenda going, you ask?

  1. Finalize the new job details and get an offer letter in writing.
  2. Find someone to take over our lease at the condo.
  3. Help Mr. Bacon get relocated through his current company (they have multiple locations).
  4. Give notice at my current job… 2-4 weeks.
  5. Find a new apartment.
  6. Pack up, move out, and get outta here!

That’s right, blogger friends, I have a new job!!!

My previous boss in Delaware had reached out to me over Christmas break about a new office he is opening up at the University. We have always had a great relationship and he was very understanding when I left to go to DC to get more experience in our field. We would still bump into each other sometimes as Mr. Bacon is from Delaware (which is also where we met), and he would half joke about me coming back to work for him. I would half joke that I’d do it if he would pay off my student loans. But seriously, I didn’t want to move back to do the job I used to do…it had to be something different and more challenging.

As it turns out, this would exactly be the different and challenging position I would move back for! I would be in charge of my own office and be involved with some of the research projects with the University–finally a use for that master’s degree that was once completely optional in my field of choice! Now, I hesitate to use the term “dream job” as I’ve called my last 3 jobs my “dream job”, so the next thing to determine…was he serious about paying off my student loans???

We sat down on a Saturday morning, for breakfast at a diner to negotiate terms. Pretty casual as we have that kind of friendly relationship. However, he showed up in jeans and I showed up in work-casual. I was to be taken seriously! I had written down a list of everything I wanted and knew I kind of had the upper hand, as he really wanted me back as an employee. I felt prepared to negotiate LIKE A BOSS, as Mr. Bacon not only subjects me to all kinds of HGTV shows, but I also have to watch Pawn Stars.

One of his concerns was that I wouldn’t stay long-term, as my job history has been a bit all over the place (he knew my background and understood why, but still). Which was when I pulled out the BAM! “if you pay off my student loans over 5 years, I’m willing to sign a contract for that term.” We went back and forth a bit on salary, as DC rates are much higher, and in the end I got basically the same base salary (after taxes), a percentage of profit-sharing in the company, AND we agreed to $10k per year of student loan repayment over the next 5 years.

$10k per year isn’t all of the debt, but I figured I would still pay the minimums so that I could lock down the -0.25% in interest rate, and after about 5 years of me paying the minimums and the company paying $10k, I’d be close to being completely done! So that’d be me paying off $20k-ish, and the other $50k being paid by…NOT me!

I was really happy with the outcome, as I feel the cost of living in Delaware will already be $15k less. With that in mind, the additional $10k of student loan repayment, and then the profit sharing, I think I’ll be making out with essentially a $30k raise, minimum. WHOA! Turns out that last weekend Mr. Bacon bumped into my new/old boss again when he was back in the area job-hunting, and apparently I was making him sweat and stutter over the breakfast negotiation. 😉

This was my first time I felt I had the experience to back up a negotiation like this, as previously I would just accept whatever number was given to me. So…yeah! Yay! Suck that, student loans! 😀