My first pay-stub is here with my raise included. Now I can figure out exactly how much extra I am getting. This raise puts me right over the $40k line...finally. I always thought of $40k as the starting wage for people who graduated from college with career oriented majors. I graduated from college but I was undecided about my career choices thus my major was in the liberal arts field. I went back to a community college after I got my BA in order to get a job skill. The skill I choose had a starting wage of around $11/hour. Not that great. I was incredibly lucky to land a job that paid extra for relocating so I was able to buy my property and house. But now I am back with a job that pays an average salary for this area. $40k is good for a single person. I wouldn't want to have to support a family on it.
Here it is:
-$627.36 medical insurance
-$2401.10 401k retirement
-$7,425.60 state and federal tax
-$8,400 budget of $700 per month
-$4,002 giving and gifts
-$16,800 for mortgage $1,400x12 months
That leaves $364 left to be divided by 12 months. Ohhh, I can go on a shopping spree with $28 every month! (I'm being sarcastic)
This doesn't leave much room for, well, anything really. I have been very lucky so far. Any maintenance or repair issue in the past has cost around $25. I have been able to spread them out, one a month, or put them off. Let's see, there was the water filter episode $30, the mini-fridge $50, chipped windshield $8. I should buy a swamp cooler cover but I made one with plastic wrap and duct tape :)
I know things can happen and if they do I will just skip paying extra on the mortgage that month. But knowing that it is possible to pay off my mortgage in 2 years is incredibly motivating and much more interesting to me than going out to eat, buying new clothes, having satellite TV, or even living in a real house.