u/Only-A-Hobo

Just curious if anyone has any experience on the range for Wage Rate, details for Benefits, Insurance, Mat Leave, Union, etc?

Spouse is being offered a full-time position as a Cosmetician / Beauty Specialist, so just trying to see what she could expect for Benefits and what might be negotiable for a wage. Currently she is in the same position part time at minimum wage + commission.

Hi there, my wife and I just found out we're expecting, and I handle the finances which really has my gears turning.

Through the rest of this year we'll need to complete a number of renovations and other items, and I need to figure out the best way to finance it, so just looking to confirm an action plan and some math.

First, a few details on our financial situation:

• Both in our mid-30s

• We own our house; outstanding mortgage $104,000; payments $370 bi-weekly

• Last renewal Sept 2023; 4 year fixed at 5.94%; 20 year amortization

• Up for renewal September 2027; early renewal March 2027

• No credit card debt, or any other debt for that matter

• No car payments; we own a truck and I have a work vehicle at no extra cost

• Property taxes very reasonable, roughly $3000 yearly

• House and Property insurance very low, $200 monthly combined

• Combined income 2025 was $82,000 before tax, but ideally would be closer to $100,000

• My job is static full-time, 40 hours weekly, with benefits

• Her jobs are part-time minimum wage, but still 30-40 hours weekly

• 2025 Q1 she was out of country visiting family, so total income took a hit

• Current monthly known expenses (bills, food, other static items) roughly $3750

• Current monthly savings $800

• Current monthly allowances roughly $700 combined

• Leftovers typically go towards leisure and whatever unexpected things pop up

• Emergency fund currently $5000 and what savings currently goes towards

• No current investments

Anyways, we're doing alright.

We have a HELOC with up to $65,000 available and a current interest rate 4.95%. Knowing this, my plan is to:

• Utilize the HELOC for renovations etc.
• Make the interest payments over the next year until mortgage renewal
• Roll the HELOC balance back into the mortgage during renewal
• Remain hopeful we'll grab a much lower interest rate than current 5.94%
• With high balance but lower rate on mortgage, should allow us to at least maintain the current payment schedule

My questions are:

1. Am I thinking correctly in terms of the best way to finance our goals?

2. To budget appropriately, am I correctly calculating what potential interest payments could be

• Ex: [($60,000 balance * 0.0495) / 365] * 30 = ~$244 / month in interest; $40,000 = ~$163; $20,000 = ~$82; $10,000 = ~$41

3. Is LoanProtector insurance recommended on HELOC if plan is to carry a balance over the next year? Seems a negligible amount, but often read it's a scam

Any thoughts are appreciated, thanks!