The total of our necessary monthly expenses comes to $3,965.
It is somewhat interesting to me because my husband's salary (without commission) is $4,400. I actually had thought that his base salary would NOT cover our basic expenses, but I guess it does. Well, pretty close anyway. In this list I have lowered our auto gas figure considerably if my husband wasn't commuting to work.
So, if my husband lost his job, we would have to earn a minimum of $4,000 a month Expenses | |
| AUTO-Excise Tax | |
| AUTO GAS - BR | 150 |
| AUTO-Insurance | 120 |
| AUTO-Maintenance | |
| CASH-Auto Gas JR | |
| CASH-Clothing | |
| CASH-Dining Out | |
| CASH-Gifts | |
| CASH-Grocery | 200 |
| CASH-Kids Allowance | |
| CASH-Parties | |
| CASH-School Lunch | |
| CASH-Spending | |
| DEBT-Equity Loan | 103 |
| DEBT-Visa | |
| HOME-Cable/Phone | 181 |
| HOME-Electric | 190 |
| HOME-Furnace | 0 |
| HOME-Mortgage | 2328 |
| HOME-Oil | 550 |
| HOME-Trash | 20 |
| KIDS-Bball | |
| KIDS-Misc. | |
| KIDS-Piano | |
| KIDS-Preschool | |
| MISC. | |
| MISC. | |
| PERSONAL-Cell Phone | |
| PERSONAL-Contacts | |
| PERSONAL-Life Ins. | 23 |
| PERSONAL-Newspap | |
| PERSONAL-Rx | |
| PERSONAL-Braces | 100 |
| PERSONAL-BR Sports | |
| PERSONAL-Vacation | |
| TRANSFER-To Sav 2 | |
| TOTAL | |
| 3965 |
So, if my husband lost his job, we would need to come up with $4,000 a month to survive (at least in our current house). For one person working 40 hours a week, that would mean an hourly wage better than $25 an hour. That might be hard to come by in a bad economy.
Right now we have $8,000 in our savings account. That would get us through 2 months. By the end of the year we will have $20,000 in our account. That would get us through 5 months.
I'm not sure if I feel better or worse, but I think it is good information to know.
Do you know what your "Bare Necessity Expenses" are?
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