Finance Dave
Thinks s/he gets paid by the post
- Joined
- Mar 29, 2007
- Messages
- 1,864
Each of us has probably had one, a situation where you're not sure how to act as it regards money. Sometimes it's with family, sometimes friends, etc.
I'll start with a couple, feel free to add your own.
1) When I was in my mid 20s I was an auto mechanic. I made about $20k/year...which would be like maybe $32k today. Not poverty, but not enough to buy the finer things. My brother was an exec at a large company, and my sister was a doctor. Most holidays (Easter, Father's Day, Mother's Day, etc.), they'd all want to go to these fancy brunches that were $18/person...and I was bringing my girlfriend. I could not afford it.
I wasn't sure what to do at first. I wanted to go, as I lived in a different city than my family, but the cost was prohibitive for me. The first time, I sucked it up and paid it....but then my bank account was low at the end of the month. I wasn't spending elsewhere frivolously....so I realized this is not something I could do 6-7 times a year.
So the next time around, I called the restaurant in advance and explained my situation. They would usually say they had a lower-cost option for me, such as a soup and salad bar for half the cost....so we did that for a couple times. Then my brother noticed what we were doing, and he offered to pay the difference for us between that meal and the regular meal...he was very kind about it. So we did that a couple times.
Now I make as much money as they do...so I've returned the favor a couple times. It all worked out. What would you have done?
2) Where I work, we have recognition events when employees reach milestones, or retire, or leave the group, whatever. We used to fund these out of department expenses...take everyone to lunch or have it catered in, whatever.
But then the recession hit. After that, when these events would come up, we had managers suggesting we do "pitch in" events instead. While I could afford this, I didn't think this was right for my staff...some of who are making around $30k/year. Because the company can't afford it they ask employees to fund it? Employees are struggling too...not just the company...this did not seem right to me. Certainly it's one thing if they make the pitch-in optional...but it was more like "Dave, your team can bring the drinks".
I struggled with this for a bit...not knowing the right answer. I wanted to support the person being recognized, but was not willing to force my employees to contribute if they didn't want to.
In the end, I held a meeting and told everyone that their participation was optional...and that I understood some of them had other financial obligations...and nothing would be held against them if they did not attend. I even bought a nice card and said as an alternative everyone could sign it.
Of course the implication of this was that we did not have enough people supporting it to bring all the drinks...so I let my boss know this in advance. In the end, my boss bought the drinks with his money...but he clearly was not happy with me for not "pushing" harder. I have not lost any sleep over it...I think I did the right thing.
Now that times have improved, this has loosened up a bit...company-paid events are back on!
I'll start with a couple, feel free to add your own.
1) When I was in my mid 20s I was an auto mechanic. I made about $20k/year...which would be like maybe $32k today. Not poverty, but not enough to buy the finer things. My brother was an exec at a large company, and my sister was a doctor. Most holidays (Easter, Father's Day, Mother's Day, etc.), they'd all want to go to these fancy brunches that were $18/person...and I was bringing my girlfriend. I could not afford it.
I wasn't sure what to do at first. I wanted to go, as I lived in a different city than my family, but the cost was prohibitive for me. The first time, I sucked it up and paid it....but then my bank account was low at the end of the month. I wasn't spending elsewhere frivolously....so I realized this is not something I could do 6-7 times a year.
So the next time around, I called the restaurant in advance and explained my situation. They would usually say they had a lower-cost option for me, such as a soup and salad bar for half the cost....so we did that for a couple times. Then my brother noticed what we were doing, and he offered to pay the difference for us between that meal and the regular meal...he was very kind about it. So we did that a couple times.
Now I make as much money as they do...so I've returned the favor a couple times. It all worked out. What would you have done?
2) Where I work, we have recognition events when employees reach milestones, or retire, or leave the group, whatever. We used to fund these out of department expenses...take everyone to lunch or have it catered in, whatever.
But then the recession hit. After that, when these events would come up, we had managers suggesting we do "pitch in" events instead. While I could afford this, I didn't think this was right for my staff...some of who are making around $30k/year. Because the company can't afford it they ask employees to fund it? Employees are struggling too...not just the company...this did not seem right to me. Certainly it's one thing if they make the pitch-in optional...but it was more like "Dave, your team can bring the drinks".
I struggled with this for a bit...not knowing the right answer. I wanted to support the person being recognized, but was not willing to force my employees to contribute if they didn't want to.
In the end, I held a meeting and told everyone that their participation was optional...and that I understood some of them had other financial obligations...and nothing would be held against them if they did not attend. I even bought a nice card and said as an alternative everyone could sign it.
Of course the implication of this was that we did not have enough people supporting it to bring all the drinks...so I let my boss know this in advance. In the end, my boss bought the drinks with his money...but he clearly was not happy with me for not "pushing" harder. I have not lost any sleep over it...I think I did the right thing.
Now that times have improved, this has loosened up a bit...company-paid events are back on!