Anonymous
Post 11/20/2013 17:33     Subject: Should My Employers Know?
Anonymous wrote:OP here- Thank you all for your replies and suggestions. Believe me, I have looked into all the housing options. I have about 7 months left on my tiny studio apartment (2 year lease). I can't have a roommate, and I do need some quiet Privacy, and peace after working the whole week. The weekend nanny has a husband and kids she lives with. I don't have debt, but I don't have a a lot of savings either. I don't want to live off of credit cards either. But at this point if I am out of a job for a few months, I do not have enough to cover myself. Also, I have nothing in retirement, and I am in my 30's. I definatley try to live within my means. I don't have much of a social life (work to much , so I don't go out much. I feel if I work hard now for a few years, I can save enough to secure a more free future.

But my original question was should I let my weekday employers know that I am taking on more hours on the weekend? Do they have a right to know? Yes, I most likely be burned out. In already burned out . But I try to still go above and beyond in my job, and provide exceptional full charge care. I don't want my employers to know my financial situation.

My pay is around $11.75 an hour, and they do pay legally-with OT. This is mid-range salary for a 24hr nanny in NYC. I have been with them for 1 and half years.


No, you don't want to have a roommate. Big difference. I'd like to live on my own too, but I save at least $6000 a year by having a roommate. It's stupid to pay for your studio in full when you aren't even there the majority of the week.
Anonymous
Post 11/20/2013 17:33     Subject: Should My Employers Know?
Anonymous wrote:I'm confused. I agree that $11.75 is low for NYC but I don't understand how you are having trouble saving money. For 4 years I made $35,000/yr, gross NOT net. I had rent of $2000/month plus utilities and I still managed to save money. Even if the 11.75 is an "average" rate and gross pay OP should still be making almost double what I did.


PP, you are the confused one. If you made 35k gross, you paid the minimum of 11k in taxes. That leaves you with 24k. 2k month rent x 12 is 24k! So you lived, ate, paid utilities on zero $ and saved??? Calling BS! And no body would rent a $2000 apartment to someone who makes 35k.
Anonymous
Post 11/20/2013 17:21     Subject: Should My Employers Know?
Anonymous wrote:I'm confused. I agree that $11.75 is low for NYC but I don't understand how you are having trouble saving money. For 4 years I made $35,000/yr, gross NOT net. I had rent of $2000/month plus utilities and I still managed to save money. Even if the 11.75 is an "average" rate and gross pay OP should still be making almost double what I did.


Saving 2-5k in a year is not a good savings plan if you want to financial stable. What op needs to do is find a job that pays $25 for 50hours than get a part time job for an extra 20hours and she will end up making more while work significantly less. Or she needs to find a cheaper apt. I'd change the job so you can have a social life.
Anonymous
Post 11/20/2013 17:04     Subject: Should My Employers Know?
I'm confused. I agree that $11.75 is low for NYC but I don't understand how you are having trouble saving money. For 4 years I made $35,000/yr, gross NOT net. I had rent of $2000/month plus utilities and I still managed to save money. Even if the 11.75 is an "average" rate and gross pay OP should still be making almost double what I did.
Anonymous
Post 11/20/2013 15:27     Subject: Re:Should My Employers Know?
My advice to you is to see a financial advisor. Lol
Anonymous
Post 11/20/2013 15:10     Subject: Should My Employers Know?
I know it doesent make much sense, but usualy the more hours you work the less the pay per an hour. You should not have to discount your rate because you are needed longer hours. The HNW people who "need" you to watch and solely raise their children, should pay you more per a hour than less. But think about it 14:55 PP- you will never find someone who is going to pay their nanny $143,000 a year (that is working 105hrs). $11.75 must be gross pay. Because if it was net, OP wouldn't have any problem saving.
Anonymous
Post 11/20/2013 14:58     Subject: Should My Employers Know?
Hoping $11.75 is her take home pay and not gross. OP you are being taken advantage of.
Anonymous
Post 11/20/2013 14:55     Subject: Should My Employers Know?
Why would you want to work 24/5 for only $11.75 an hour??? You live in NYC where I'm sure you could find a full time nanny position making nearly double what your making now and cut your hours in half!!!

I live in Fairfield County, CT and nannies here are making around $20/hour.
Anonymous
Post 11/20/2013 14:35     Subject: Should My Employers Know?
I would not tell your employers about trying to get a weekend job. None of there business.
Anonymous
Post 11/20/2013 13:45     Subject: Should My Employers Know?
Anonymous wrote:Housing and utilities should not eat up nearly 50% of her net income if she is only there 2 days a week.


I find it unusual for "High Net Worth" bosses to not provide a separate apartment for a 24 hr nanny. Especially for a nanny who is making 11.75 an hr.

I have read it is very common for these million/billionaires to provide their nanny with a fancy furnished separate apartment, and a paycheck around 120-160k a year, and huge bonus!!!
Anonymous
Post 11/20/2013 13:41     Subject: Should My Employers Know?
Anonymous wrote:Work smart not so hard!

In NY it is EASY to find a job paying at least $25 an hour. Work 60hrs per week, and bam!!! You are earning at least $91k a year. You can then enjoy your nights and weekends off in your overpriced apartment and save. Good luck!


This.
Anonymous
Post 11/20/2013 13:39     Subject: Should My Employers Know?
Work smart not so hard!

In NY it is EASY to find a job paying at least $25 an hour. Work 60hrs per week, and bam!!! You are earning at least $91k a year. You can then enjoy your nights and weekends off in your overpriced apartment and save. Good luck!
Anonymous
Post 11/20/2013 13:37     Subject: Should My Employers Know?
Housing and utilities should not eat up nearly 50% of her net income if she is only there 2 days a week.
Anonymous
Post 11/20/2013 13:16     Subject: Should My Employers Know?
$80,000 is not a great amount to live and save with in NYC.
It works out to around $50,000 net.
Housing & Utilities are around $24,000 a year.
Conservative Spending (Food, Medical, Cell Phone, Transportation) $12,000.
That leaves $14,000 a year for savings if no emergency needs come up...but they always come up!
If she opens a Roth IRA , she can put up to $5000 in there a year.
That leaves $9,000 a year to save.
You need at least an 8 month expense emergency fund, so that would need to be $24,000. So she will have to save 2.5 years to get a base savings and retirement account set up.

A 30 something year old these days who lives with in their means, and is responsible enough to save is great!

Either get a big raise or work those extra hours! Or stop working so hard, get a social life, start dating, find a husband and he can contribute!
Anonymous
Post 11/20/2013 12:08     Subject: Re:Should My Employers Know?
Did you receive a raise last year? If not, I would ask for a raise to help offset the need to work.

I would want to know as an employer. But, I'll be honest, I would not want you working on the weekend, so I think that leaves the employer with the option of giving you a raise.

I don't know anything about the NYC market, but $11.75 seems ridiculously low.