How much do you really make?

**Sonnenwende** · 04-28-2008, 04:28 PM

I get paid a base salary of 28k a year. I just figured out how much my company pays for my health insurance for my family and my actual salary is more like 37k a year!! When the employer 401k match begins this summer, it will be more like 39k.

Incredible to think about when I put it like that. My health insurance a month is more than my rent if I were to pay for it out of pocket.

I love my job...

**peanut** · 04-28-2008, 06:29 PM

The amount you make is only relevant when compared to expenses. We have no mortgage or debt of any kind. Plus we are nearing retirement, so at the top of the pay scale for DH's job. We pay 1/3 of his gross salary to deductions, 1/3 to keep us afloat and 1/3 to savings...approximately.

We will only have 40% of that salary after retirement. Plus CPP and OAS...and our retirement funds. Our total retirement income will be about $35,000/yr. Means we'll be selling the house and looking for a smaller, lower cost one.

Jean

**MOMMYDEAREST** · 04-28-2008, 08:10 PM

My dh makes around 55,000.00 YEAR & i MAKE ABOUT $25,000.00 a year

**Frugal Cook** · 04-28-2008, 08:58 PM

I'm on Social Security which puts me at 50% "under" the poverty rate for the area, but I live in a big mortgage-free home and drive a nice 9-year old car. I'm frustrated since I don't qualify for any government assistance because I have "assets", but I've learned to be frugal and live within my means, so I'm actually better off than most.

**mombottoo** · 04-28-2008, 09:05 PM

Benefits is one thing most people don't take into consideration when they figure their pay. But, once you add them in you make substantially more than you think you do. I miss our health insurance the most since my hubby got injured...having good health insurance is priceless IMHO.

**Telephus44** · 04-28-2008, 09:34 PM

Yeah, people usually don't take benefits into account when considering their compensation. I had a job once that paid me 40K, but when you added in the pension, 401K match, insurance, the FSA matching funds - I was getting closer to 52K.

Right now, I am paid 48K. If I factored in actual cost of health insurance and the 401K match, I am making 56K.

**mhope** · 04-28-2008, 10:34 PM

Originally Posted by mombottoo

Benefits is one thing most people don't take into consideration when they figure their pay. But, once you add them in you make substantially more than you think you do. I miss our health insurance the most since my hubby got injured...having good health insurance is priceless IMHO.

having good health insurance is priceless

exactly

**Megareader** · 04-28-2008, 10:39 PM

Originally Posted by mhope

having good health insurance is priceless

exactly

You got that right! Several years ago I had TMJ surgery which ran over $25,000. All I had to pay was the co-pay.

**heartofmine** · 04-28-2008, 11:03 PM

I think it also matters what part of the country you live in. I live in a small town and living expenses are not as much. Pay is not as much either.

**Sonnenwende** · 04-29-2008, 07:11 AM

Originally Posted by mombottoo

Benefits is one thing most people don't take into consideration when they figure their pay. But, once you add them in you make substantially more than you think you do. I miss our health insurance the most since my hubby got injured...having good health insurance is priceless IMHO.

Yeah, that was what I was getting at with this thread. What I really make is substantially more once benefits are added in. I was a little floored when I finally did the math yesterday.

My employer has a 70/30 split on health and dental with their employees. They also contribute 70% to the deductible through the HSA. It is an incredible amount all together, about $753 is their share for my family. And then when I toss my $226 into it, my health insurance package altogether is $979 a month!! In perspective, my rent is only $739 and my net pay is only about $1640 a month.

I hope things start looking up for your family soon. My benefits don`t start for another 2 days, but since October, I have had no coverage period. I know it how that can be.

**JanieD** · 04-29-2008, 11:33 AM

Guess I look at health insurance premiums as a minus to my income since it costs me so much to have insurance. I spend 15% of my gross income for not so great coverage (meaning that don't like to pay for anything). I think they paid out less than 10% of my premiums for claims last year. They always find a loop hole to deny part or all of a claim. Sorry to get a little off topic, but I think great health benefits (coverage & rates) depends on carrier, employer & state AND are very hard to come by.

Health insurance really annoys me.

**Sonnenwende** · 04-29-2008, 12:35 PM

I am OK with paying something for my health care, but only what is reasonable for my income.

I see my premium as a plus because I am not paying for all of it. If I were, I probably wouldn't even have health insurance. There is no way I could afford nearly 1k a month for health insurance. I can't discount the incredible amount my employer is footing for that bill, so have to add it as a plus to my salary.

Health insurance does suck. Don't have to tell me twice. I know that I am completely at the mercy of my employer as far as that is concerned. :/

**PplAmanda** · 04-29-2008, 11:49 PM

I actually get $40 additional every two weeks from my company for declining the health insurance. It was crappy insurance and crazy deductables. We are covered by DH's Federal Employee Blue Cross Blue Shield. Gotta love getting the amount the company WOULD have spent

**JustMegan79** · 04-30-2008, 11:20 AM

I personally make...

$2.50 an hour, plus tips. I average say...100 dollars a shift. Which is to say some nights I'll make $60 and some nights I'll make $200. It all depends. Which is stressful for sure.

So...on average its $16 an hour...some more some less. BUT...this is summer season. In the winter I'll be on unemployment for two months as we are closed (Its a Pier over the ocean restaurant). And in the early winter Ill make alot less.

SO...the dollar amount ($2.50) I never see. Taxes take it all. I never get a paycheck. Period.
Then I tip out the bartender 1.75% of my sales. (not tips, sales--so if someone doesnt tip well, I get screwed.)

Then the busser gets one percent of the sales. (thousand dollars in sales=ten dollars to busser.)

We have no insurance or any other normal benefits (par for the course with food servers).

We Do get other intangible benefits. We get free meal once per shift. This is a good meal not junk...this is a higher priced beach seafood place.)

We get a free beer or glass of wine at the end of each shift. ( I rarely take advantage of this as when I am off I want to leave and go home.)

I see the two months of closure during the Holidays as a benefit because I can go home to see our families in Va, and for instance this Dec Dh graduates so I will be available for all the things that entails as well. We can go home for hunting season. And all the while getting unemployment for those two months.

We get an employer paid outing to bird island each memorial day weekend including food alcohol and fishing, etc.

We get 30% off fishng supplies and clothing and everything else in the Pier shop.

Now I know these bennies are small...yet they matter to mebecause when Dh grads, he will be attaining insurance and all those "real job" things. I will still make a significant wage but will constantly be flexible in my schedule and availability.

I cannot convince myself that sitting at a desk job for 8 dollars an hour just because I too will have insurance is worth it. So I will be on dh insurance and wait table until I am either

A. ) Burned out
B.) Have kids and need a daytime schedule.
C.) My body says No More!
D. ) I happen upon a regular job opp that tickles my fancy in a field I would enjoy.

Thats about it.

)