September 2009 Weddings
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

SF - Advice/Opinions Needed

This month I will receive an "extra" pay check since there are three pay checks this month instead of two.  This means benefits will not be deducted so it will be a decent chunk of change.  Keeping the SF in mind and therefore being responsible and not splurging it on anything unnecessary I'm debating whether to apply this paycheck to pay down our loan or to put it into savings for when I'm out on FMLA after baby is born.

My original plan was to just apply it to the loan to save on the interest.  Additional factor is this time when I'm out on FMLA I'll have accrued more sick time and I have an extra week's vacation now that I didn't have before because of the promotion.  Therefore I will have approximately 5 of the weeks covered with full pay, but I plan on being out for the full 12 weeks like I did with Alex. 

What would you do?

Re: SF - Advice/Opinions Needed

  • I'd put it in a separate account and save for FMLA.  This will basically = 7 weeks paid, which is a huge deal.  June will be another 5 Friday month, so you'll get an extra one there too- that can be the equivalent of 9 weeks paid- 75% of your time off!  
    White Knot
    Stand up for something you believe in. White Knot
  • ooh tough one.  Honestly, I'd probably do half and half.  I would want it to save for FMLA, but I'd want the loan paid off quicker too, so that loan payment money could go towards savings too. 
    Warning No formatter is installed for the format bbhtml
  • I would put it into savings to use towards FMLA.

    Just from my experience recently, I wish I would have had a little more money to fall back on with the last 6 weeks of my leave unpaid. I'm back to work now, but I won't get a paycheck until the 21st. Not getting a paycheck kind of sucks, so I'd definitely save that extra check.

    Warning No formatter is installed for the format bbhtml
  • Anytime I had an "extra paycheck" month while pregnant, I put it into my savings account. Since having a c/s meant I was out an extra 2 weeks (with the drastically reduced STD pay), having that extra $$ really saved us.
    Image and video hosting by TinyPic
    Dx: Hashimoto's Hypothyroidism After 2 years TTC & failed IUs,we have our IVF baby born 9/24/11

    LO#2 aka 'Miracle Baby' Orig. EDD= 9/28 EDD moved to 10/3/13
    Lilypie Second Birthday tickers Lilypie Pregnancy tickers
    "Most of the important things in the world have been accomplished by people who have kept on trying when there seemed to be no hope at all." -- Dale Carnegie
    "Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time." --Thomas A. Edison
  • Yeah last time As soon as I found out I was pregnant with Alex I started saving as much as possible to supplement my paycheck to cover bills and was able to save enough so we were ok for the full 12 weeks. STD doesn't give much at all. I think I will put it into savings.  The extra June paycheck is going to be used towards a crib and dresser since we'll need those for baby #2 and if there's anything left over that will go into savings. Plus I put in a minimum of $50 from each paycheck into savings automatically, otherwise any extra I have goes to pay stuff off.
  • Thanks ladies, Joel really wants to put it towards the loan so I may have to compromise and do half and half.  We'll see.   I'm totally on the fence about it because I would love to get another chunk of the loan paid off but it's also going to be tight going out on leave during the holidays so any extra money will be helpful.
Sign In or Register to comment.
Choose Another Board
Search Boards