It’s official: I got a promotion!
Honestly, I didn’t 100% believe it would happen. Sure, my boss asked if I’d be interested, and I know things were in the works. But I didn’t feel like our parent company would approve things. And I was completely out of the loop on what was going on. I didn’t know when, or what exactly the position was, or if there would be a pay increase, or anything like that.
So on Friday my boss came to me and said that the HR from our parent company might be announcing my promotion later that day. They’re in a rush to get things going, so they can post my current position (Payroll) sometime this week, and work on finding a replacement. My new title will be “Accountant”. Yeah, I know, kind of vague.But, hey, it’s progress. And I finally got a job description, so I know what the new position entails!
Even better, my new position comes with a (slight) raise; I’m being bumped up to $49,250. Not stellar, but on the heels of last week’s annual increase, I’ll officially be making $3,500 more than I did last year. Can’t complain about that! I will be taking some of my current responsibilities into my new position, so they can strip the new Payroll position down to strictly payroll activities (and won’t have to pay the new person as high of a rate). There are still a lot of unknowns to be sorted out, but at least things are moving forward.
I’m not sure when my raise will take effect. I put my annual increase directly into my company’s 401(k), but I don’t think I’ll be doing the same with this raise. Although, given that our 401(k) plan is based on %’s, I will be contributing slightly more each week into the plan once the raise kicks in. I know, planning for retirement is really important. And, at 36 years old, I’m already behind. But I feel like getting rid of debt should take priority right now. Once the student loan and car loan are gone, I can concentrate more on investing.
I still plan on making good use of the money. It would be totally pointless to just stick it in to my weekly spending and watch as lifestyle inflation ate it up. I don’t NEED more spending money. But an extra $20 every week will make a nice dent in my student loan payment. And right now, that’s really important to me.
– Cindy W.