Since, my bride recently graduated from school she has been actively looking for job related to her education. here is the sticky thing based on usnews accountant is ranked #21 in the best jobs for 2012 but she being a recent graduate i guess cannot find any opportunity.
Central Valley is not a good place for jobs (outside of trucking) and i made the treacherous decision of moving here in december of 2010. This fact has not helped much in her job search at all.
Luckily, at this moment she has been able to land a part-time sales associate job in a retail outfit for $8.25/hr. She will have to drive about 25miles one way to get to this job. This also gave me enough courage to start this blog where we might be able to write our struggle i.e. which is the struggle of probably all middle class working family.
based on part-time situation she will have to go to work about 4 times a week.
so, here is the easy math.
| Job | pay/hr | hr | total pay |
| Retail Associate | $8.25 | 20 | $165.00/wk |
based on that i have an estimated income for the month of june.
| Date | pay/hr | hr | total pay |
| Pay Day of 2012.06.08 | $8.25 | 20 | $165.00/wk |
| Pay Day of 2012.06.15 | $8.25 | 20 | $165.00/wk |
| Pay Day of 2012.06.22 | $8.25 | 20 | $165.00/wk |
| Pay Day of 2012.06.29 | $8.25 | 20 | $165.00/wk |
| Month of june | $8.25/hr | 80 | $660.00/month |
Since, she has to drive 25 miles one-way and our car toyota camry gives about 25mpg not 26mpg mentioned here. But who is gonna argue about that right?
This leads to the dreaded part of expense.
| Date | Expense Type | Expense Amount | |
| 2012.06.03 | Gas | $32.00 | |
| 2012.06.10 | Gas | $32.00 | |
| 2012.06.17 | Gas | $32.00 | |
| 2012.06.24 | Gas | $32.00 | |
| Month of june | Total Expense: | $128.00 | |
Our plan at this time is to stick to this budget and see if we can/are able to work through it. Hoping that all goes well we are planning to pay the balance as follows:
| Date | Description | Debit | Credit | Balance |
| 2012.06.03 | Gas | -$32.00 | -$32.00 | |
| 2012.06.08 | Pay | +$165.00 | +$133.00 | |
| 2012.06.10 | Gas | -$32.00 | +$101.00 | |
| 2012.06.15 | Pay | +$165.00 | +$266.00 | |
| 2012.06.17 | Gas | -$32.00 | +$234.00 | |
| 2012.06.22 | Pay | +$165.00 | +$399.00 | |
| 2012.06.24 | Gas | -$32.00 | +$367.00 | |
| 2012.06.24 | Education Loan Pmt | -$150.00 | +$217.00 | |
| 2012.06.24 | Credit Card Payment | -$217.00 | +$0.00 | |
| 2012.06.29 | Pay | +$165.00 | +$165.00 | |
This leads to the approximate estimated balance as mentioned below:
| Date | Type | Amount Owed | Apy | Min Pmt. | Total Payment | Interest Payment | Principle Payment | New Balance |
| 2012.06.24 | Credit Card | $1,808.93 | 11.15% | $38.00 | $217.00 | $17.13 | $199.87 | $1,609.06 |
| 2012.06.24 | Student Loan | $13,772.95 | 6.80% | $150.00 | $150.00 | $79.54 | $70.46 | $13,702.49 |
| $15,311.55 | ||||||||
So, based on this plan this is what we are planning to do. Pay off the credit card first and fast then move to the student loan while still making the minimum payment to the student loan.
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