Where's Margie's Money?



Yay for the weekend!

Who else is totally happy for the weekend? 

My Weekend To Dos:

  • Take the dog to the vet (as I mentioned in my last post, she’s up for her annual exam and I’m concerned about her tail.  Decided to postpone the cat’s vet visit to the end of August . . . hope by that point the baby will be here and I’ll be up to venturing away from the house!)
  • Attend yoga
  • Rent a Rug Doctor and clean the carpets in our apartment (downloaded some coupons from their website and watched some “How To” videos on YouTube. . . hoping it won’t be too hard!)
  • Nap
  • Wash baby clothes and linens
  • Grocery shop and meal plan for next week.
  • Make and freeze into individual Tupperware containers a big pot of chile.

My Weekend To Don’ts:

  • Go to the spa with my girlfriend.

I was just invited by a friend to go with her to go to the spa in celebration of her birthday this past week.  She’s going with her mom, who I know and adore.  If you know me you know I love a day of lounging by the pool and indulging in massage/facial treatments!  I will admit to checking out the prices on the spa’s website . . . but then I said thank you and politely declined.  The OLD me would have jumped on the opportunity.  The NEW me knows that unless a spa trip has been planned and budgeted (or gifted!) it’s no bueno.  

Maybe on Sunday after all my errands/to-dos are done, I’ll give myself a facial, file and paint my nails, light a candle,  talk DH into rubbing my cankles, drink a glass of sparkling water and call it my “spa day.” 🙂  That actually sounds quite nice!

In other news, I’m quite pissed about some ish going down at DH’s work.  Yesterday we got his quarterly 401(k) statement in the mail.  Now that I’m more fiscally aware, I’ve taken charge of keeping track of our various accounts and filing the statements when they come in.  I noticed something very odd, though.  His account lost about $10 from this quarter to last quarter. . . I can understand a small loss but that didn’t add up considering how much should have been deposited over the last three months.  Then I looked again and I saw that in actuality NOTHING had been deposited since the start of the quarter.  What???

I asked DH to get his last paystub and show me how much was deducted for his contribution.  Well, it was normal as usual.  That’s when it dawned on us . . . his work is withholding the money but not depositing the funds into his account.  A quick text to one of his co-workers to ask him to look at his statement confirmed that DH is not the only one.

I am so livid about this.  DH has known for a while that his company is on the brink of disaster but he’s been holding on for a few reasons . . . 1) he knows the owners really well and believed them when they said they were going through a rough patch with the economy but that things would be looking up soon; 2) he wanted to hold out until the baby was born so he could take a full six-week paternity leave – he thought moving to a new company might limit the amount of time he could spend at home; and 3) he’s a really loyal, hardworking guy and sees the best in people.  I believe DH has not wanted to face the facts that this company is going under.

We had a long conversation last night about what to do.  Over the last year I’ve encouraged DH to look for another job for various reasons (in the past paychecks have been late as much as 2 weeks . . .he works really long hours . . . he’s expected to work on the weekends without additional pay or vacation comp-time, etc.) but he hasn’t wanted to.  But I think this is officially the last straw.  I told him that this company is putting our financial future at risk and that ANY employer that withhold funds from their employees and uses those funds for other purposes (who knows?) is totally shady and untrustworthy.  I don’t care how long he’s known the owners – what they are doing is illegal and scumy. 

So, our plan of action:  DH is going to stick it out until the baby’s born – I hope she’ll be here in the next few weeks.  After the first initial week or two when we are settled into a nice routine (ha ha, I wonder if a routine is possible at 2 weeks??) and have parenthood sort of figured out, he’s going to contact recruiters and get aggressive about finding another opportunity.  I hope by the end of his paternity leave he’ll have another job lined up.  Also, we’re going to go open up a Roth IRA for him.  He doesn’t currently have one and honestly we should have done this before regardless of whether or not he contributes to a 401K.  Then we’ll budget how much he can contribute out of each paycheck.

In the meantime, I’m going to do my best to resist the urge to report them to the labor board (or the employment development department?) . . . DH has asked me not to do this as he would like to approach them about it in person.

Oh man . . . writing this all out really got me riled up again!  Whew.,…need to calm down.  I just hate seeing DH being taken advantage of because he’s truly a very hard worker and puts in 110 percent into all that he does.  He sacrifices a lot of time with his friends and family to work there long hours and it pisses me off that they would do this.  Seriously?!

Okay . . . off to start the weekend . . . I’ll keep you all posted on what happens!

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Comments

  1. * Sarah says:

    My company does this sometimes (I’m in accounting so I know when things like this get paid) but a whole quarter is really extreme. I think two weeks is the longest we’ve ever put off depositing 401k money. It definitely makes me feel awkward. It’s not the company’s money. I don’t think we’ve ever had an employee actually notice what’s going on though.

    | Reply Posted 6 years, 3 months ago
    • I read something on the Internets (not sure if it’s credible) that companies have up to two weeks to make the deposit – so I think what your company is doing is okay. But yeah, a whole quarter without payments is definitely odd!!

      | Reply Posted 6 years, 3 months ago
  2. Good for you for declining the spa and more so for being on top of your finances. Very shady what DH’s company is doing. I hope it does not come back to bite you.

    | Reply Posted 6 years, 3 months ago
    • Yeah, that was a decision that stung a bit (making adult choices, not fun but necessary)- but I know if I had gone I would have regretted it even more when I came back and reported it here!

      | Reply Posted 6 years, 3 months ago
  3. * sooverdebt says:

    I hope you guys come up with a plan for what you will do if talking to his employer doesn’t get any results. I am INFURIATED on your behalf! That just gives me one more reason to love my Roth IRA and distrust employer sponsored plans. Please keep us updated!

    | Reply Posted 6 years, 3 months ago
  4. * Lane says:

    What the french?! Good thing you caught that. I would be LIVID! I hope they get it sorted out. Does DH’s employer also match contributions?

    | Reply Posted 6 years, 3 months ago
    • I know! If it had been the me of a few months ago, I would have left the statement in its envelope on our table for awhile . . . and probably thrown it away eventually without even paying attention. I bet that’s what the majority of people do and that’s why no one else has complained or noticed.

      No the don’t offer matching contributions unfortunately. In fact, his benefits pretty much suck in general. That’s why I think it’s so important that he starts to invest a little bit more of his paycheck a month into retirement through a Roth IRA.

      | Reply Posted 6 years, 3 months ago
  5. I would NOT have been a happy camper if my job was doing that. What does your husband do? I’ll keep my eyes and ears open…I really love where I work so if something opens up I can let him know…

    | Reply Posted 6 years, 3 months ago
    • The hubs is a scientist at a bio technology company . . . the life science industry in San Diego is a tight knit community. He feels pretty confident that when he puts the word out that he’s looking he’ll find something easily. But we’ll see! Thansk for the offer – I don’t know what kind of place you work at but if it’s related to bio med at all, think of us. 🙂

      | Reply Posted 6 years, 3 months ago


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