U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-03-2015, 03:46 PM
 
8,265 posts, read 4,188,100 times
Reputation: 1876

Advertisements

I accepted new job makes more money an hour then my previous job of, $13.27. Only downside instead of working 40 hour's only working 24 hour's. I am making $20.50 per hour with a $2.00 differential for every evening and weekend I work. I work one weekend, one day, and one evening a week. So in total I make $532 a week. Parking at work is $2.50 for every 8 hour's you work. I normally put $40 on at the start of the month. On top of that insurance is $75. Plus an additional $5 for eyeglasses. 403B is mandatory 2% deducted from check a week. I pay $60 a week for gas as well.

I pay every month $220 for rent I split with someone. I am paying a few different bills right now with four amounts $140, $75, $40, and $140. Then I pay $145 on car insurance and $325 on car payment for lease, which is ending in a year can't get out of it. Then I pay $140 in tax returns until August.

Two questions one am I screwed financially be able to pay all my bill's? Second think I can manage to save $100 a month? Appreciate the feedback
Reply With Quote Quick reply to this message

 
Old 04-03-2015, 03:51 PM
 
906 posts, read 1,178,653 times
Reputation: 1041
Find another part time job to fill out your hours.
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 03:55 PM
 
16,555 posts, read 17,682,015 times
Reputation: 23724
No you're not screwing yourself. You're making the same basic money as before but working less. You can take the time that you are now not working get a second job and start putting money away from thst second job. You'll be working 40 hrs or more a week but you are making more and can now save more. You can still work a total of 40 hrs so you're not working anymore hours as you did on your first job. You're just making more money but it's from two jobs within the same timeframe as your old $13 a hr job.

Last edited by Electrician4you; 04-03-2015 at 04:07 PM..
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 03:56 PM
 
25,575 posts, read 23,804,929 times
Reputation: 44109
Not sure Im understand this post correctly, but will say, that a lot of ads that say you can make 'up to 25+ per hour'...may be legimate, but keep in mind theres no way theyre going to give you 40 week on those wages. That simply means you could make that much, but only working 8, 10, 15 hours a week. Sad. I don't even do a 2nd look at those type of ads.
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 04:01 PM
 
8,265 posts, read 4,188,100 times
Reputation: 1876
I already added it up kind of looking for financial tips. I worried may be calculating the weekly pay wrong because I get about $500 a week but minus taxes/insurance I figure it is $360 a week.

I work a second job, but I can't pick hour's up until end of August. Been applying for another job, but not much luck. Hoping to work a few extra shifts with summer vacations coming up at work. I really like to have at least $300 to $400 extra a month.
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 04:09 PM
 
16,555 posts, read 17,682,015 times
Reputation: 23724
You can drop your taxable income by contributing more to your pretax 403b annuity account. This way your taxable income is less so you get taxed less.
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 05:58 PM
 
12,404 posts, read 9,247,828 times
Reputation: 8869
Quote:
Originally Posted by RunD1987 View Post
I accepted new job makes more money an hour then my previous job of, $13.27. Only downside instead of working 40 hour's only working 24 hour's. I am making $20.50 per hour with a $2.00 differential for every evening and weekend I work. I work one weekend, one day, and one evening a week. So in total I make $532 a week. Parking at work is $2.50 for every 8 hour's you work. I normally put $40 on at the start of the month. On top of that insurance is $75. Plus an additional $5 for eyeglasses. 403B is mandatory 2% deducted from check a week. I pay $60 a week for gas as well.

I pay every month $220 for rent I split with someone. I am paying a few different bills right now with four amounts $140, $75, $40, and $140. Then I pay $145 on car insurance and $325 on car payment for lease, which is ending in a year can't get out of it. Then I pay $140 in tax returns until August.

Two questions one am I screwed financially be able to pay all my bill's? Second think I can manage to save $100 a month? Appreciate the feedback
When you say "a few different bills", do you mean debt bills, or things like health insurance, utilities, and food?
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 08:17 PM
 
48,519 posts, read 81,227,998 times
Reputation: 17979
Get a second job ;you have the time.
Reply With Quote Quick reply to this message
 
Old 04-03-2015, 08:29 PM
 
Location: SW Florida
2,298 posts, read 1,680,743 times
Reputation: 2227
It doesnt sound that bad.. like others mentioned I would find another part time job to equal the 40 hours total week. Sounds like you will be better off doing that.
Reply With Quote Quick reply to this message
 
Old 04-04-2015, 06:40 AM
 
Location: Woodbury, MN
1,363 posts, read 1,404,361 times
Reputation: 1663
Quote:
Originally Posted by RunD1987 View Post
I accepted new job makes more money an hour then my previous job of, $13.27. Only downside instead of working 40 hour's only working 24 hour's. I am making $20.50 per hour with a $2.00 differential for every evening and weekend I work. I work one weekend, one day, and one evening a week. So in total I make $532 a week. Parking at work is $2.50 for every 8 hour's you work. I normally put $40 on at the start of the month. On top of that insurance is $75. Plus an additional $5 for eyeglasses. 403B is mandatory 2% deducted from check a week. I pay $60 a week for gas as well.

I pay every month $220 for rent I split with someone. I am paying a few different bills right now with four amounts $140, $75, $40, and $140. Then I pay $145 on car insurance and $325 on car payment for lease, which is ending in a year can't get out of it. Then I pay $140 in tax returns until August.

Two questions one am I screwed financially be able to pay all my bill's? Second think I can manage to save $100 a month? Appreciate the feedback

I think the title you chose is pretty appropriate, "Am I screwed financially?". More information is needed. How old are you? What is your job skill set? The advise given depends on how old you are, how much time you have left to work, and your ability to improve your job skills.

You start off talking about $13.27 an hour and $20.50 an hour. Plus you add lousy work hours to the mix and talk about tiny expenses like parking. Putting in only 2% into a 402 account with a very low income will produce near zero retirement savings after decades of work. Paying $140 in taxes is nothing. Try thinking about paying $40,000 in taxes. But if you earn enough, you have to pay tens of thousands in income taxes every year, and you won't like it, but that goes along with making more money.

If you are young, I think you need to re-think your life. If you look around you (and you might have to look pretty far around you), you'll find people that are making six figure incomes. Have you ever thought about becoming more like those people? Most people are capable to achieving much more in life than they think they could have ever accomplished. Most people are limited in life by themselves, no one else. In communist counties, your life can be made miserable and you could be in poverty with no way out. In America, you have the freedom to be successful, if your don't limit yourself.

You should start by determining how many working years you have left till you cannot work anymore. If you have enough working years left, you can dramatically change your life. I dramatically changed my life at age 40, so I know it can be done, I'm living proof. I used to make $8 an hour, worked second and third shifts, under rotten working conditions. I know what it's like to have a lousy job and live with low income. Working a high income job with great working conditions radically improves your life.

Start thinking in the longer term. What do you want your life to look like 10 or 20 years from today? Do you want to remain earning low wages and struggling to get by? Or, can you envision yourself making many times your current wages? For most people, it is possible to dramatically improve their standard of living well past what they previously thought they could achieve. You just need to have the ability, the willingness put in the effort to advance yourself to the next level.

Your long term goal, if you have enough working years left, should be to dramatically increase your ability to earn more money and live well below your means. You can then save 40% or more for your retirement. If you have 20 to 30 years left to work, you could retire as a millionaire. That's how you should be thinking, as long as you have enough time left and have enough intelligence to improve your job skills. I can't emphasize it enough, most people are capable of achieving much more than they ever dreamed they could achieve in life.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top