Running the Numbers.
1. The Outgo per month
Rent: $425 (I’m so glad* that I moved out of that expensive apartment in January!)
Phone: $65 (Yes, I still have my iPhone. Sigh.)
Student Loan: $40 (This one is not bundled with my others so I pay on it every month.)
Food: $400 (Yes, this is way too high**. I am not cooking and still eating out a lot.)
Public Transportation: $100 (Yikes! No longer getting free bus pass from employer. )
Misc: $70 (This may go up as I incur job seeker expenses, such as buying an interview suit, etc.)
Credit Card Debt Minimum Payment: $650 (Ouch! Did I mention how much I HATE debt!?)
Student Loans: $0 (These are on forbearance. Whew!)
Outgo Total: $1,750
* – However renting a room under someone else’s roof introduces another set of challenges.
** – My goal is to start cooking more, but so far I haven’t encountered the copious amounts of free time that I am supposed to have at this point. Another part of it has to do with my living situation.
2. The Income per month
Unemployment Benefits: $1790 (est.) (After years of working myself into burnout and paying taxes through the nose.)
Second job: $640 (This income is NOT steady. It is ‘as needed’ work only. So I may not earn all of this in a month. Where I live you can earn up to a certain percentage of your unemployment income without it reducing your benefits.
Side hustles: $0 to $100 (I haven’t started any of these yet, but I’m hoping for pocket money. Rest assured everything is legal and on the books, LoL.)
Total Income: $1790 (+ $0 – $700)
TOTAL BUDGET BALANCE = +$40 (+$0 – $700)
What Does This Mean?
Well, the good news is that for the foreseeable future (5 months), I will be able to pay my bills while I look for work. This is of course, barring any unforeseen expenses. I don’t plan to remain unemployed for 5 months, but you never know. This is a lesson learned for me, to keep my living expenses low. I have learned that no job is secure and that I need to be out of debt more than anything.
I did not intend for this blog to become an unemployment blog, so while I am working at getting work, I’ll start writing about other things as well.
Until next time!