OK. I’ve got it.
I am going to net about $20,000 from the next 2.5 months (I’m being conservative and underestimating by a thousand or so)…
- 50% goes to taxes
- $1000/month as a budget (see numbers below)
As you all know, I’ve stopped debt repayments, except for the bare minimum of $157 a month.
I haven’t worked out the final budget numbers (as a good average) for each month because this is the first time living with BF, so here are my assumptions….
(P.S. I haven’t had time because I’ve been working but thanks for all of your great comments and tips on being a co-habitant! We’ve decided to split everything in half — without even talking, I knew the plan because he’s v. fair — and we split the grocery bills in half and he ‘invoices’ me weekly)
$500 = Rent (assume approx. the same as before)
$240 = Food
$157 = Debt Repayment
$100 = Cellphone (I got 2 cellphone numbers, so that I didn’t lose my original number and this is a pretty high estimate)
That leaves about $3 left over in the budget which is extremely tight. So I AM concerned that it might be cutting it a bit close, but let’s just see what it does for me. If I have to, I’ll move it up to $1200 or $1500 to cover a bit more of the cost, but I’d like to keep it to the bare minimum.
I’m also not putting in that budget for getting a new pair of glasses, more contacts, going to the dentist and other miscellaneous expenses, because those are one-time costs that I am planning on covering with another savings fund.
With that being said, I’ll put at LEAST $7000 into debt once I get the cash to clear, so at least 50% of the $15,000 is paid off, and the rest will stay in the Emergency Fund/Savings until I can secure another contract with another company.
It’s really a great feeling to have options because of your financial situation. There is no better feeling in the world.