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Running some numbers

May 23rd, 2009 at 10:50 am

Boyfriend made a decision about how much he will work.

Until mid-August, he will work 9 hours/day (he misheard his parents-it was never 10 hours/day), 5 days/week. He will have Sunday and Monday off.

If he works 45 hours/week, he will make $900 every two weeks before taxes. After taxes he will make about $810 every two weeks (no state taxes). That brings us to $1,620 every month.

His beginning savings is $5,500 (not including IRA). He plans on putting half of his paycheck into savings, 30% into IRA, and 20% for spending money (what I do).

At the end of June, he will have roughly $6,300 in savings. At the end of July, he will have about $7,100 in savings.

Assuming I have $4,500 by the end of July, between us we will have $11,600 in savings.

Our monthly expenses will be as follows (roughly, we'll fine tune it later):

Rent and utilities: $625
Phone/Internet: $50
Groceries and household supplies: $225
Gas: $150
Misc: $50
Total: $1,100

That means we will have about ten months of expenses in the bank before we move. This is likely to decrease though when school begins because I have to buy textbooks and tuition. Boyfriend has prepaid tuition and a scholarship and that covers everything, including textbooks. My textbooks and tuition shouldn't be more than $750.

There is a possibility of me leaving my job in as little as a week. I don't want to say much about it until it actually happens. Nothing is certain right now.

When I told boyfriend (I found out last night at work), he said, "Finally I get to be the primary bread winner!". His previous job made considerably less than mine, and I knew he felt a little bad about that. It never bothered me but I think it bruised his ego that he was making less than me. I asked him if he would feel bad if he had to pay for everything and he said no: he likes to take care of me.

If I have to leave my job, then that's that. I will find another. It might take a few weeks, but I know I can find another job.