I have been remiss all week in determining my budgeting topic for this Wednesday. Life has been hectic and I didn’t have a chance to think about or prepare my budget analysis for this week. Instead I am going to cover a little bit about income and apparently Michigan.
I realized this week that I only have six more paychecks before my temporary pay cut is lifted at the end of this fiscal year, Hooray!
I fully expect that I will receive another temporary pay cut in the next fiscal year, but it usually takes a long time for that kind of budget cut to snake its way down the chain. When it happens, as it has almost every year since 2004, it is usually toward the end of the fiscal year and ours runs Oct-Sep. So that means I will most likely have at least 6 months of my full pay until they take it away again.
Michigan has been in a recession far longer than any of the other states. We most likely will be the last state out of the recession as well. I have deep roots here and while I’d like to move to a different part of Michigan I have no plans to leave the state if I can help it. Six months of my full income will be nice, all of the “extra” I plan to put into my emergency fund.