Thread regarding Chevron Corp. layoffs

@ 7jdz. Don’t feel sorry for the average person. 1/2 of them in Houston are here illegally. Over 1/2 of this city voted blue so they got what they deserve. As for the rest of them I do feel sorry for them.

I'm a PSG23 as well and we are doing just fine, we are also frugal (used 10+ year old cars, mortgage <12% of income, etc.). I see the inflation but we don't feel it like others feel it. What blows my mind and hurts my heart is watching everyone else at HEB buying food for their families knowing they can't afford. I don't know how they do it.

Reminder to all of us here who make the big bucks. Many people are really hurting and the food banks are in dire need of food and money especially in this Christmas season.

Narcissist and a solipsist at the same time!

What a narcissist

This is why they hate us. You’re wealthy compared to most of the US and world. And you’re complaining? You CAN live on the six figures you make. You can live in a smaller house and have less expensive cars.

Hey guys! I don't have a car OR a house! And it's all because I put avocado on my toast! However, I'm doing great. Please, do talk about how you're succeeding. It's phenomenal, to listen to the self absorbed.

Shopped my home and auto insurance.
Use a tax protest service to control property taxes which was running 15% more each year in Harris Co. .
If I can repair myself, I do it (house, car). No more splurges on tools at Lowes.
I wash my own car by hand.
Cut way back on restaurants. Cheaper orders, maybe once a week.
Cut way back on eating out for anything. Goodbye Whataburger. I bring my lunch.
Red meat is maybe once a week (healthier). Cut back on meat in general and feel better.
No more Starbucks (make my own).
Aldi and Costco
Still give the kids money cuz they are suffering as well.
Small vacation trips by car. Hawaii is a distant dream.

PSG 26 here. I feel your pain!

The only thing OP has produced here is the fact they don't know how to manage money. Others are correct that inflation su-ks, but it doesn't sound like you've changed your lifestyle at all to accommodate. Even a mid tier PSG 23 should be making well more than enough to support a family and live decently. OP, it's time to reflect on what you are actually buying monthly. I know lower PSG's that are living life and doing just fine. Also 2x-3x is bonkers for insurance, 20-30% maybe unless you are overspending on things.

Inflation is a bi--h to be sure. Since 2020 groceries up 100%, housing up 25% and interest rates up 100%, home insurance up 50%.

If you wanna save only buy $5 Costco chickens for family meals. Get the rest of your essentials at Aldi. Your wife can get a job too (maybe part time). Keep in mind we are talking 25% headcount reductions here so you may not be getting your paycheck soon.

So funny to see a high paid guy crying about wages and promotion! Dude you got to move from your mansion to a 3+2 home! Giving you more money isn't going to solve your problem.

PSG 19 here, All of yall bend over and crack a smile, I got something for ya, lol.

PSG 22 here. Go eff yourself.

My numbers are very similar, and I can feel inflation. My mortgage went up $600/month because insurance and property tax adjusted. That are up my cost-of-living raise and then some. Not to mention how much food costs these days…

Hope you are preparing for what's coming. Its going to get ugly really quickly

You call that failing at life? Just a mortgage with no other consumer debt, fully funding 2 kids college education and a spouse that does not work. You are just complaining about inflation and exaggerating. Everything has gone up but not at the ratios you are mentioning. Try and get a job somewhere else and then compare that salary lol

My car insurance went up, but not by twice the old amount. I just looked it up again and it went up 30% last year. That's terrible, but certainly not "break the bank" or change my lifestyle level of terrible.

No one's grocery bill has gone up 2-3x in the last couple of years. 20-30% probably, but that's a lot different than 2-3x.

No you're not failing and you know you're not failing, but thanks for the "humble brag" as they say on the finance related boards and sites. If you were serious about your self assessment and not trolling this site of mostly typical CVX wage earners, which are above average for the nation, but lower than yours, you would have at least responded to your troll post at least once or twice.

Your car insurance per vehicle atmost is $2000 per year, house insurance should not be more than $4500. Your bonus would for sure cover all that plus any inflation baes expenses related to gas and groceries.

You could have made the argument in 2022/2023,but the inflation is under 3% for the past year. Something is not right with your math or the way you live.

Some areas definitely hit harder than others. In TX insurance for cars and home did skyrocket 2-3X over the last couple of years due to large weather related claims and auto theft numbers.

In 2022, nationally car insurance companies paid more in claims than they took in in premiums. In places where premiums can easily be adjusted they were. Some insurance companies eg. farmer’s have left California because they can’t make a profit by adjusting premiums.

Unlike California where property taxes are locked in…Texas property taxes get accessed every year. With the crazy way home prices have shot up over the last 3 years the tax man is also laughing and nearly doubling the property taxes in some areas.

Hang in there bud. Sounds like you were simply over investing. Maxing out 401k ($69k including company matching) and the IRA on top of that along with 529. Take you foot of the gas there…. Spice up the resume and get the wife back to earn some bread

Why do you want to pat off your mortgage from 2020?? That is probably a very low interest rate loan. That may be part of the problem….financial knowldege.

OP, sell the car and start biking to work !
Seriously, if you are struggling with saving at PSG 23, there is something odd with your lifestyle. What's the breakdown of your expenses?
You must have a fairly new car with full coverage as your insurance has tripled? If not, shop around and switch.
Fixed term interest rates are common if you are smart enough to find and get it. Didn't you learn anything from the 2008 housing crisis? It's too late now as adjustable rates have spiked.
Why are you spending 15% on education ?
Learn to live below your means irrespective of your income. Always, always max out your 401k (for 2025, you can contribute $23500). If you have kids, open up a 529 and start adding atleast $100 per month. Take advantage of compounding instead of complaining here.

Don't spend on useless toys, vacations and cars (or similar), even if your wife doesn't work or cannot work, you should be able to live a pretty good life on 23 wages. Having a wife at home can actually reduce your expenses quite a bit, if she takes care of the home, grocery, meals, kids, etc. So something doesn't add up in this equation and probably you know what it is.

? 47% go to taxes.

With my spouse working we are able to make it putting most of our money towards the mortgage as cars are paid off. My PSG is lower and I can make it work by budgeting .In this day and age both partners in a marriage should work. With so much uncertainty waiting for layoffs and upcoming recession you need to be prepared to reduce stress. Hopefully, you have a good outcome. Unfortunately, the cuts will be numerous and those remaining will be left with a big mess.

I am a PSG 23 and breakdown of my base salary is as follows:

47% goes to tax
19% goes to a mortgage on a very modest house (fixed term interest rates aren’t common here - and interest has doubled in the past two years - my mortgage is cheaper than renting an equivalent house)
15% goes to education
10% to insurance

That leaves 9% of my income for discretionary things. No car loan. No credit card debt. That 9% covers clothes, food, utilities, healthcare, house maintenance, car running costs, gifts, holidays, fuel and entertainment.

I live a very modest lifestyle. Things are hard.

What is your total compensation as PSG23?

Out of touch from the reality…..you should work for someone else instead of Chevron to make your self aware of the reality of wages today and learn how to live within your means.

Why weren't you promoted twice in a row?

What does inflation have to do with Chevron? It is not the central bank. If you think ANY company has a moral obligation to keep up with money printing inflation, you are in for a big surprise.

The CIP bonus should be farmers to outpace the inflation, yes inflation is eating outfrom you base pay, but your base pay has gone up enough in the same projection of time. With you PSGyou should be living g comfortably and saving enough and had you git your mortgage prior to 2022 or refinanced before then, I am not sure why you are feeling the financial pain. Average household income in the USA is for sure half of your gross income.

Yes it’s been brutal last couple years and we’ve set the bar now at new higher level. Brutal

I’m sorry, but your wife should be working anyway. This idea that it’s the 1950s and that women they need to stay home and take care of the home is bullsh-t.

Tell her to get her a-s to work.

Short answer: yes, many can identify with you. The cost of living has far outpaced wage increases.

Long answer: a PSG 23 is probably in the 93rd percentile of U.S. income earners. The goals you mention are fantasies for most (e.g., funding college accounts, maxing out retirement, no consumer debt, SAH spouse). You need to reset your perspective.

You make at least 170k, right? I'm so confused as to how you're struggling. Look at your monthly expenses. Cut out the cleaning lady, the country club, golf membership. Look at your monthly expenses and cut what isn't needed.

You must be in Houston if insurance prices have tripled. In California my home and auto insurance has been flat.

I'm sorry but if you are a PSG23 and complaining about cost of living you are out of touch with the rest of the world. 21 here and doing ok. You are lucky to be at a 23 and not failing. Sounds like u need some perspective.