Thursday, March 22, 2007

The Raise, Examined

Today's is the first paycheck that reflects my recent $2,000 raise. My take-home pay is about $48 higher. This works out perfectly, actually, because my previous pay allocations left $2 unallocated, and now I have a nice round $50 to distribute. Here's how I'm distributing that $50:

I'm adding $25 is being added to my allocation for savings.
I'm adding $10 to my allocation for giving.
I'm adding $10 to my allocation for unexpected expenses.
I'm adding $5 to my allocation for entertainment.

I'm now giving 4.8% of my gross and 7% of my take-home pay. I'm saving 4% of my gross and 5.9% of my take-home, aside from my Roth and 401(k). My 401(k) contribution, which stays constant at 7% of my gross, has increased by about $6.

So those are the numbers.

For something completely non-numerical but far more interesting, check out today's post by Madame X, which is really, seriously, awesome. It focuses on the way your financial life interacts with your sense of self.

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