Sunday, February 15, 2009

Re-Adjusting The Budget, Minus 10%

I adjusted my budget January 1st to include an increase in health insurance costs. But starting February 1st, everyone at our company got a 10% reduction in pay so I have to re-adjust.

Here's the new budget:

$36,018 (less than when I started at this job!)
-$2,161 (401k, 6%)
-$802 (health insurance)
-$6,634 (tax)
-$8,400 ($700 monthly budget)
-$3,601 (10% giving)
-$14,400 ($1,200/m mortgage extra)
-----------
+$20

The new stimulus bill is supposed to give individuals $15 more per paycheck. That will be nice. In reality I could have $1,200 a month to play with but I would rather put it towards the mortgage. Let's hope the stimulus bill really does help the economy. Having a job in manufacturing is quite depressing at the moment. I just need to keep this job for at least 1 year and 10 months and then I can move on to the fun stuff...fixing up my little homestead.

4 comments:

Over the Cubicle Wall said...

You are so close, even with the pay cut. Excellent job to adjust and keep moving forward.

Sharon Rose said...

Hi there-keep up the good work, you are doing so well.

Daizy said...

Over the Cubicle Wall, it's disappoining to cut my plan like that but it could be worse. This week should be a good week for the mortgage since I plan to make a payment on Wednesday. Something to look forward to.

Hi Sharon Rose! Thanks for your encouragement. My plan certainly has more bumps in it than I expected.

Together We Save said...

I can feel for you. I took a pay cut starting Jan 1. Not a Happy New Year present.