Thursday, September 11, 2008

New job

I normally like the nomadic nature of my dying industry, in that in provides me with a built-in opportunity to try new things and develop my skills, but I can't deny that there isn't a fair amount of nervousness to be had as one contract runs out and I don't know where and when the next one begins.

After a diligent month of letter-bombing the city with my resume and mining every contact I have that isn't nailed down, it seems I've once again managed to land on my feet, and secure another year of gainful employment. I'm particularly excited about the fact that for the first time, I'm getting away from the dead-tree medium and moving exclusively into the world of online journalism. (There's a distant, distant chance this might turn into an opportunity to blog about finance/investing and get paid for it, but that's very nebulous at this point...)

Besides the duties (which I'm quite excited about) my new job has the added bonus of coming with a not insignificant raise from what I've been earning so far -- to the tune of about 17%, before taxes. As my cousin Jacques might say, "ne pas too shabby."

I'm a big believer in the principle that good financial habits can build into big things over time, and as such, I've been able to build a decent little nest egg over the last few years, without really sacrificing too much of the fun that life has to offer. Currently, as soon as my paycheque comes in, about 25% of my gross salary goes directly into my PC Financial high interest savings account, which functions as a sort of catch-all account until I divert it into other things (RRSPs, Visa bills, big purchases, or whatever.)

It's a system that's worked quite well for me so far, so the obvious answer to the question of what to do with these new funds might be to increase the amount I divert into that account. But I have a different idea.

I think I'm going to keep my PC account as a legitimate long-term savings and investing fund, and open another high-interest savings account (or possibly just dust the cobwebs off of my fallow ING Direct account -- I haven't checked if their rates have gotten any more competitive) to be my designated "fun" account.

I think putting that psychological barrier between the accounts will be a good thing. The new account will be the one I dip into for the vacations, gifts and *cough* plasma televisions I'm thinking about getting over the next 12 months.

At any rate, big things and good news in GIV-land. 

For the time being :)


Canadian Capitalist said...

Congratulations on the new opportunity. I agree with you on good financial habits -- they are hard to establish, but once done, they keep us in good stead. Good luck!

Forex Rates said...

Really congratulations on your new job and must hard work to maintain it.