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Mid February Update

February 17th, 2009 at 01:38 pm

Wow. I have been away form the site for the last few weeks. My hours have been cut here at work so I have been putting the resume and cover letter together. I have also been doing a lot of networking.

More just setting myself up for Q3 or Q4. I have a non-compete that ends June 1st so I can compete directly with my old employer. So now is the time to just start reaching out and networking with some recruiting firms.

There is an old saying "Never burn your bridges." At one time, I had over 35 people reporting into me and most were consultants. I would often deal with recruiters via hiring and firing people. I always tried to be fair and honest with all parties involved.

Now that I am on the other side of the fence, a lot of the firms see my resume and remember how I treated them (even if I don't know who they are). My advice to people especially just starting their careers is to remember always treat people fairly and honestly and you will be remembered. You will stand out from other people.

Anyway back to the update.

My hours have been cut by over 25% and logically my paycheck too. The good news is that I am still living below my means,. I am still on track to max the 401(k). I am also able to save a little.

None of this would have been possible if I wasn't out of debt.

My current goals are to max the 401 (k) and put an additional $30k in my EF. So far I have $3,600 in the 401 (k) which is a great start. I also have almost $6,000 of the $30,000 for the EF saved.

I have also been looking at refinancing my mortgage. I currently have a 30 year at 5.5%. This weekend I just received paperwork for a 15 year at 4.5% with 0 points. My mortgage broker wants to wait because the market is going in our favor. So, I wait.

3 Responses to “Mid February Update”

  1. creditcardfree Says:

    Wow! 4.5% mortgage rate sounds great. Sorry to hear about the cut back of hours, but you are in a great position to handle it well. Nice work!

  2. Broken Arrow Says:

    Good advice to live by. Hope the job situation gets sorted out quickly for you!

  3. scfr Says:

    I missed this post, merch. I've not been around the boards much either, what with work, starting a new (very small) business, and my volunteer work. But I was wondering how you had been and pulled up your blog and just saw this. This time in our economy reminds me of the late-80's when the best strategy career-wise seemed to be "keep your head down ... work hard and smart ... and don't give up hope."

    Anyway ... just wanted to say I agree 100% about not burning bridges. That was something my mom taught me. When my company decided to close my office and I lost my job of 17 years, I decided I would make as gracious an exit as possible. I spent a lot of time preparing colleagues to take over my work, passing on as much of what I had learned as I could. Years later it has paid off ... Not only am I still on friendly terms with several of my ex-colleagues, but my husband actually got some new business from one of them.

    Keep on keeping on, merch!

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