Furlough Budget – With Real Numbers!

The 15th was my first paycheck with my furlough taken out.

Before my semi-monthly gross paycheck was $2,125.00, now my gross paycheck is $1,879.81. The gross pay difference is $249. Or $498 less per month before taxes.

The semi-monthly net paycheck previous was $1,504.90, now my net paycheck is $1,360.76. The net difference is $144.14 for one paycheck, or $288.28 less per month.

After taxes the difference is pretty small. So I don’t have to make large changes to my budget. Here’s what my new and improved furlough budget with real numbers looks like:

Clicky to make bigger!

Major changes from original budget:

  1. Reduced dog care contributions from $100 to $80 per month. Total savings $20.
  2. Reduced food contributions from $400 to $360 per month. Total savings $40.
  3. Reduced credit card payments from $576 to $452 per month. Total savings $124.
  4. Increased payment on bed from $105 to 110 per month. Loss of savings of $5.
  5. Eliminated contributions to entertainment and clothing from $60 to $0 per month. Total savings $60.
  6. No longer saving to Emergency Fund $50 to $0 per month. Total savings $50.

All of the above measures combined come out to $289 per month in cuts from my budget, which cancels out the $288 less I’m getting per month because of furlough.

We’ll see how this reduced budget goes. At least I’ll be able to pay over the minimum on my credit card!

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4 Responses to Furlough Budget – With Real Numbers!

  1. wow you really got your finances in check. I like the fact that you reacted to the change in your cashflow and compensated for it. I love your post.

  2. Niki says:

    It is so responsible of you to be so proactive with this change. I know it really must suck, but you seem to have made the best of this situation. Your positive attitude will definitely get you through this. Best of luck.

  3. Pingback: Changes to the Budget « Small Steps for Big Change

  4. Pingback: The Business Trip « Small Steps for Big Change

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