Goal for 2014: Tighten the budget even more

The Living Wage Calculator is an interesting view on how much it costs to live. While I’m sure there are better resources for breaking down a budget, I think this is enough structure to shape my own. I’m trying to get us as tight as possible, without going nuts, so I can prepare for the future. The thought of our grocery bill when Max is a teenager gives me the willies.

Here’s the information in case the site changes:

Living Wage Calculation for Dutchess County, New York

The living wage shown is the hourly rate that an individual must earn to support their family, if they are the sole provider and are working full-time (2080 hours per year). The state minimum wage is the same for all individuals, regardless of how many dependents they may have. The poverty rate is typically quoted as gross annual income. We have converted it to an hourly wage for the sake of comparison. Wages that are less than the living wage are shown in red.

Hourly Wages 1 Adult 1 Adult, 1 Chld 1 Adult, 2 Chldn 1 Adult, 3 Chldn 2 Adults 2 Adults, 1 Chld 2 Adults, 2 Chldn 2 Adults, 3 Chldn
Living Wage $10.20 $22.97 $30.57 $39.76 $15.51 $19.21 $20.60 $23.97
Poverty Wage $5.21 $7.00 $8.80 $10.60 $7.00 $8.80 $10.60 $12.40
Minimum Wage $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25

Typical Expenses

These figures show the individual expenses that went into the living wage estimate. Their values vary by family size, composition, and the current location.

Monthly Expenses 1 Adult 1 Adult, 1 Chld 1 Adult, 2 Chldn 1 Adult, 3 Chldn 2 Adults 2 Adults, 1 Chld 2 Adults, 2 Chldn 2 Adults, 3 Chldn
Food $242 $357 $536 $749 $444 $553 $713 $904
Child Care $0 $788 $1,538 $2,288 $0 $0 $0 $0
Medical $127 $384 $412 $397 $263 $371 $352 $360
Housing $784 $1,128 $1,128 $1,383 $922 $1,128 $1,128 $1,383
Transportation $262 $509 $587 $629 $509 $587 $629 $640
Other $83 $208 $290 $395 $140 $182 $205 $235
Required monthly income after taxes $1,498 $3,374 $4,491 $5,841 $2,278 $2,821 $3,027 $3,522
Required annual income after taxes $17,976 $40,488 $53,892 $70,092 $27,336 $33,852 $36,324 $42,264
Annual taxes $3,236 $7,291 $9,696 $12,618 $4,930 $6,098 $6,527 $7,595
Required annual income before taxes $21,212 $47,779 $63,588 $82,710 $32,266 $39,950 $42,851 $49,859

300 training miles down. 3 months to go.

Feeling good about the half marathon finally. I wore out my first pair of shoes after 300 miles of training. I bought the same shoes after some others didn’t fit. They served me well on a 10.24 mile walk yesterday that helped me get over anxiety over being able to finish a half marathon. I have three months to add the last three miles and work on time — I’m really glad I did that. Continue reading

Week 7 – 100 miles

The idea is to stay below the Goal (white) line. That way I’m reaching my goal each week. This week I killed it and I still have two more outings planned. I’ve walked over 100 miles as of today in seven weeks.

Week 7 goal: 14 miles with a repeat of the second week of Couch to 5k

I set up a calendar with small incremental goals each week, ending in a half marathon. I started this because I couldn’t think of a satisfactory reason to say no to the challenge. So, each week I do a little bit more than the last — focussing on endurance. So far so good.

View more here.