The Rat Race
Another $1720 minimum monthly student loan payment, another seemingly minuscule movement in my balance.
I’m still busy at work and thankfully looking forward to the 3-day weekend for a bit of rest. Although my employer is benefiting from the new corporate tax cuts and pulling in record profits, it has done nothing to raise pay for people in my division beyond the standard cost of living adjustment. If there was any doubt about the impossibility of getting a raise, it’s gone now. Getting a raise, a REAL raise, was never a possibility and never will be one.
Other people have moved on from my employer and are earning more now. I’ll need to think about my long term earning potential. Ahhh. Trapped in the rat race and searching for more cheese. At the same time, I’m hesitant to make any risky moves now with so much debt and uncertainty hanging over my head. Afterall, there IS value in stability.
Up, Down, and Around and Around
Sooo, how about all of that stock market volatility over the past couple of weeks? I wasn’t stressed about it at all, as I invest for the long-term, but I did wish I had money I could spare to buy more stocks during the 3-day flash sale. In any event, I confess that I have been avoiding looking at my investment balances because I didn’t want to see the drop in my numbers. Sad, right? I’ll get the courage soon. It’s all temporary.
Market volatility spurred some articles raising the possibility of another recession, maybe even as soon as within the next 12 months, at the earliest. Could the next recession be as bad or worse than the Great Recession? Possibly. I have no idea. But I do recall some sage advice about the last one. Get out of debt and save cash like there’s no tomorrow. The fact that American household debt is increasing substantially, does not bode will for our ability to weather another really bad economic downturn.
Feeling Like a Fat Cat… For Now
I got my bonus, federal tax and state tax refund, all around the same time. I haven’t done anything with it yet, because I’ve been too busy with work to think straight. I’m going to pay off my credit card debt and keep the rest in my Opportunity fund, at least until I get back from my trip.
When I return, I plan to use more of the money to pay off all expenses from the trip that will be on my card. Whatever is left may likely be used to fund my yearly Opportunity and Health Maintenance funds (for 2018), just as I have done in years past.
Have you received or will you receive a tax refund and/or bonus at work this year? What are you going to do with it?
“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW Archives)