Thursday, October 25, 2007

Bad News on Paycheck…

My paycheck is going to be even lower by $700. I will get $2,400 at the end of the month versus the $2,800 that I estimated and my regular $3,100. The lower paycheck is due to taking 4 days unpaid to attend my sister’s wedding this summer. I took all of my vacation days to prepare for the bar exam and didn’t have any left to travel to Cancun.

This is exactly why I was hesitant about making any strong financial moves because crap always seems to happen. So I am not going to bring in enough money to pay the bills and will have to use the remaining $1,000 in my unemployment fund to supplement my income. Major bummer!

Other expenses that I have been incurring lately relate to networking and my job search. Tonight I am going to a lawyer mentoring dinner which is going to cost me $25 in addition to parking expenses.


$2,400 – income

(875) – mortgage
(225) – assessments
(340) – SBC and home security (cell, cable, internet, phone, brinks)
(140) – electric bill (need to call and see why it’s so high)
(100) – car insurance
(220) – commuting
(200) – personal care (hair)
(350) – credit card min
(100) – groceries

$(150) – shortfall


Escape Brooklyn said...

That's so frustrating! I hate when the numbers don't work. It's like, that needed money can start falling out of the sky now, please.

But thankfully that's why you keep extra cash on hand, right? And maybe your income/expenses will balance out in the following month or two. Or at least, that's what I like to tell myself when I have a shortfall. My other trick is to just wait for months where I get an extra paycheck (I'm paid biweekly). Sad as it is, I'm already anxious for January's extra check!

But I know that doesn't help you since you're paid monthly...make sure your new law job pays you biweekly instead! ;)

Chitown said...

Yes. Biweekly is definitely better.

I am however, regretting paying so much on my credit card. Everything will work out okay. =)

Sick of Debt said...

Only suggestion I can give is to really reconsider the SBC & home security package. In order to pay for that with your average take-home pay of $2800, you need to spend 21 hours/month in the office. That's not including the commute time and expenses for those hours. This is what motivated us recently to bring down our cell-phone.

I understand that the hair is needed with interviews coming up, so not much to be done there.

One other crazy suggestion is getting a roommate. I saw in another post that your single and have a 3 bedroom condo. It might help in the short term until you hit a cushy lawyer job making big bucks.

SavingDiva said...

I have to agree that you might want to try renting out a few rooms for a while. It would be a way to make a few extra dollars...

Chitown said...

Funny. I was just talking with my boyfriend and he made a suggestion. He suggested that I consider buying a 2-flat property in the city, living in one unit and renting out the other. I may be able to find one in foreclosure.

So much to decide and soon.

Anonymous said...

Prices on 2-flats have gone down considerably in some neighborhoods in Chicago. It wouldn't hurt for you to take a look at some of them.

Sorry about the shortfall - think of stuff like hair and parking as capital expenditures. When you get a job you'll be fine.

HS @ Our Debt Blog said...

(140) – electric bill (need to call and see why it’s so high) ??? THAT'S NOT HIGH! I JUST PAID 250 THIS MONTH!!!!

Chitown said...

HS...I thought $140 was high because in the four years since I've lived in my condo, the highest bill was $115.

I live in an all electric condo but I am rarely home. The air/heat is programmed and I don't cook so the oven is barely used.

I just thought the spike from $95/month to $105 to $138 was drastic and this happened three months straight.

Dimples said...

Anyway you can get away from the SBC security package. $340 is pretty high to be paying for all that. At least an E-fund and enough to cover the shortage. You will be back on track next month.