How we use our Employment Benefits to Maximize Every Dollar

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There is more to your job than just your salary. Most people receive some kind of benefit at work. Whether they are non monetary like a flexible schedule or more tangible like an employee discount, we get more from our employers than our paychecks. Here are four valuable benefits that we use (or have used in the past).

401K Match: For 5 years, I worked at a company that offered a 100% match for retirement contribution up to 6% of your salary. From the first day I started working, I made sure to contribute at least the 6% that would get me the 100% company match. Anything less would seem like I am leaving free money behind. I left that firm over 4 years ago and no longer receive a match at my new place of employment. However, my husband does receive a similar benefit (100% match up to 5% of his salary) and we make sure to take advantage of it. So now, when he contributes 10% of his salary, his account is actually receiving a deposit of 15%.

Graduate School: I often discuss my journey to becoming debt free and instrumental in all of that is the elimination of my student loan debt due to the high interest rate. I graduated 2 years ago in May from a program that cost $75K. However my loans were less than $50K thanks to the tuition assistance I received when I first started the MBA program. I did switch jobs in the middle of graduate school, which contributed to the balance of my loan, however, I am $28k closer to completing my payments as a result of being able to benefit from the tuition program early on in my studies.

Cellphone Discount: We have a family plan with 3 lines for smart phones that gives all the users unlimited data and text. If that sounds pricey, it’s because it is. However, my carrier offers an 18% discount to employees of my organization. Every 2-3 years, I recertify my employment by providing a either a scanned copy of my badge, a pay stub or some other form that would indicate I still work there.

BJ’s Wholesale Club: A BJ’s membership costs $50 a year for 2 people. Given the savings opportunities that buying in bulk offers, not to mention the low gas prices, that is already a fantastic deal. However, my husband’s job offers a discount where the membership costs less and is for a longer period of time: $40 for 16 months. Per month, the discounted price is nearly 1/2 the regular advertised price.

How are you maximizing your employee benefits?

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