The Budget - Savings

I already included my 401K contribution in the pre-tax/tax section…but a 401K does count as saving…


Remaining income to account for = [Income (100% of income)] - [Taxes and Pre-tax deductions(8.12%+17.66%)] = 74.22% of income left to account for


Additional Savings (to be deducted from remaining payon a monthly basis)

ING Direct= 2.25% of income

Emigrant Direct = 2.25% of income

Additional Savings = 4.51% of income

Total Income left = [Income (100% of income)] - [Taxes and Pre-tax deductions(8.12%+17.66%)]-[Savings(4.51%)] = 69.70% of income left to account for.

In the next posting, I will list all fixed expenses. Fixed expenses are bills that I can expect to be roughly the same amount each month such as rent or my cell phone bills. Fixed expenses are also bills that are likely to occur for at least one year.

Until next time,
Thor

Edit: I decided not to include dollar amounts and instead include a representation of monthly income.