. With yesterday's news that my three-day-a-week job had deteriorated into occasional freelance work, I've rejiggered my projected monthly expenses and income to see where I stand.
It ain't pretty.
Total minimum monthly expenses: $1845
This reflects somewhat higher car insurance since I bought the new car. It also includes (ranked from highest to lowest expenses on a pro-rated basis): health insurance ($589, will drop somewhat 1/1/14 with Obamacare), property taxes ($488), food ($240), heating oil ($101), gas for car ($60), electricity ($55), homeowners insurance ($40), cats (mostly food, $38), phone/internet ($38), car fees/taxes ($23), water ($16, this fee will rise soon), dentist ($16), out of pocket medical ($15), borough taxes ($14), furnace tune-up ($13), gardening supplies ($12), sewer fees ($11, I paid off the loan itself last year), annual dump sticker ($7), haircuts ($5), allowing 4 a year at $15 each), car maintenance ($5, for 2 annual oil changes at $30/ea), printer cartridges ($3, allowing 2 at $20 ea) and mortgage ($0, I paid it off last year).
My budget does NOT allow for: home maintenance, retirement savings, clothing, dining out, the vet, entertainment, birdseed and Xmas.
Anticipated, estimated monthly income: $1272
This includes projected unemployment benefits of $161 a week. I could be off a bit, but that's what I've come up with. I won't open a claim right away and may wait til October becus it appears I might get a little more if I do wait. (They based the payment on average of 2 highest quarters, not counting immediately preceding quarter, so Oct 1 is start of a new quarter and works in my favor.) It also includes guesstimate for freelance work as well as occasional work from my current employer.
So my monthly shortfall is -573 a month.
While I continue to look for a job, I'll attempt to lower this shortfall with credit card rewards (I just opened 2 new cards that will deliver $200 in rewards when I hit the spend targets) and possible product studies. If I get busy with freelance work again I can do even better.
It was almost 4 years ago to the week that I was laid off in September of 2009 at age 50 and finally, after all that time of scrambling for work, my back is up against the wall, meaning I may for the first time have to start living off my savings to address that $573 monthly shortfall.
I hope that doesn't happen, I hope I get that job I'm interviewing for later this week, I hope the cats stay healthy, I hope the tree I was going to have cut down won't fall on the house this winter in a storm.... I hope, I hope, I hope.
My revised income/expense scenario
August 27th, 2013 at 01:52 pm
August 27th, 2013 at 02:22 pm 1377613359
August 27th, 2013 at 02:36 pm 1377614212
Do you plan to make a regular withdrawal from savings or go to it on an as-needed basis? I think if it were me I'd withdraw only about half of the shortfall amount and see how much I could do with it.
But maybe you'll get that job!
August 27th, 2013 at 02:56 pm 1377615417
I wish you luck!
August 27th, 2013 at 03:31 pm 1377617507
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August 27th, 2013 at 11:04 pm 1377644683