It's the new year, and there's one thing I really, really want to change about myself.

I *need* to start taking better care of my teeth. Specifically, I need to start brushing regularly before I go to bed.

The problem is that I never decide to go to bed. I always just allow myself to conk out whenever I feel tired enough. And I never know when that will be.

As a student, I fell asleep all the time while studying in bed (I don't believe in desks; plus, my chair sucks and I like my bed because it is warm). Now, I find that I'm falling asleep while reading in bed.

I know a possible solution is to brush my teeth *before* I start reading in bed, but I like to snack while reading. Also, I read all the time, and I never know when I'll conk out. Sometimes, I stay awake for hours. Other times, I'm out in ten minutes.

And, of course, once I'm already nodding off, I can almost never summon the willpower to wake myself up enough to go and brush my teeth.

I am terrified of seeing a dentist, even though I know I really need to. I regularly have nightmares about my teeth falling out. I can't sleep well at night because of the guilt, although it's still not enough to get me to wake myself up. I can feel my teeth rotting (I really hope that's all in my head).

In order to motivate myself, here's my plan. I'm going to pay myself a dollar for every time I brush my teeth. It'll be my dentist avoidance tax.

God, I hope this works.

Happy New Year, everyone!

In parts I and II, I talked about my accounts and usage.

Now, we get to cashflow.

I get paid via direct deposit biweekly. That meams eight months per year with two checks, and four months with three checks.

But for the expenses that come out of checking--namely, rent, student loan repayment, utilities, and credit card bill (for groceries, transportation, and miscellany), I'm pretty sure I can subsist off of only one paycheck per month.

So what I think I'm going to do is keep the first paycheck of every month in checking, and transfer the others out to income savings immediately upon receipt.

My income savings account gets debited weekly for Roth IRA deposits to Vanguard. Right now, I'm putting in $170/wk until next March (to max out this year's contribution and get on track for next year), but afterwards, this drops to $76.92/wk.

I've also set up auto-transfers to my various subaccounts.

My car fund receives $200/mo. This will pay for my lessons, license, and registration. After a year, I hope to have enough to buy a car (~$2000). Now I may not actually get a car summer, but I want to be *able* to. Afterwards, this fund will pay for insurance, gas, maintenance, and the like.

My emergency fund also gets $200/mo. With a goal of $5000 for (6 months of expenses, sans car), it'll take me two years to build. I think this fund will eventually get moved to a higher yield money market account.

My house fund currently gets $50/mo. I know this won't actually get me anywhere, but I want to start saving regularly for this. Once my monthly expenses stabilize, I'll adjust this amount. This money will probably go into either high yield CDs, or mutual funds (probably the latter).

I haven't set this one up yet, but I think my medical fund will also get $50/mo. I know that my birth control pills will cost $130/yr.

I think I'll put off the "grad school application fee fund" for a year.

I guess what's left over will go towards discretionary spending (a bike comes to mind), although knowing me, I'll probably throw everything that's left at my house fund. I'd like to have $40K for a down payment by 2015. More on this later.

The SO finally called the bus company to inquire about commuter discounts for the bus between New Haven and Middletown.

(52 weeks/year) * (5 weekdays/week) / (12 months/year)
= 21.67 weekdays/month
=~ 22 weekdays/month

At the standard fare of $3.60 per way, that's $158.40/mo

There is a 10-ride discount fare of $32, or $3.20 per way, or $140.80 per month.

There is also a monthly pass for $122.

This decreases the estimated monthly car maintenance cost to $200 to $250 per month.

Sweet.

I did Part I a long while ago. Eek. Well, time the catch up again.

Last time, I talked about what accounts I have. Now, I'll talk about how I'm using them, and what changes I might be making.

Bank of America

Regular Checking

Bank of America checking is by far the most convenient checking account available. It has the closest (and most ubiquitous) ATMs, which is necessary for my periodic cash withdrawals and check deposits. All of my co-workers also have BoA, so it also makes money transfers easier.

For these reasons, I think I'm going to stick with BoA checking.

However, I'm going to downgrade this account from Regular to MyAccess. To remain free, Regular Checking requires a minimum balance of $750 in checking, or $1500 in savings. Both amounts are rather too large for my liking. $750 is just too random a figure for me to remember to stick to, and $1500 is way too much to hold in such a low-interest savings account.

MyAccess, on the other hand, is free with direct deposit, and has no minimum balance requirement. Perfect. So I've requested that my direct deposit be switched from ING to BoA checking, and once it goes through, I'll downgrade.

I wonder if I can still get the $50 sign-up bonus, though. Will have to keep that in mind.

Regular Savings

With my checking free, I can finally ditch this savings account. No more $1500 earning 0.5% interest and me losing value each year due to inflation. Everything will be going over to ING.

Power Rewards Visa credit card

I'll keep this card around for the credit history and insanely high credit limit, but I've been lusting after a decent CashBack card for a while. I just don't know if I route enough money through my CC to make any of the available offerings worthwhile.

ING

ING is fine and dandy.

And I've been having fun with their subaccounts. Right now, I've set up five.

First and foremost is my "income" subaccount. Money from my current job's salary goes here. The reason why I'm keeping this separate is to make sure that I can live off of my income alone. No living above my means. If I'm going over, I want to see myself actively borrowing from my other subaccounts.

I also have a "seed" subaccount. All of my college work-study wages go here, as well as four years worth of unspent allowance money. My father is the joint holder of my ING account, so he'll also occasionally toss money in. I'm trying to get him to stop doing that (yes, I did say "stop"; I'm an odd one).

Anyway, I have around $15K in this subaccount. This money is eventually earmarked for investments (to grow into a house down payment?), but for now, I'm keeping it around as a backup emergency fund while I feed my actual emergency fund from my current income.

I also have subaccounts for three savings goals: emergency (aka unemployment) fund, car fund, and house fund. I might also start a medical fund for prescription medications, co-pays, and deductibles. And one for grad school application fees?? What about attorney fees? Should I be getting a will/living trust set up, or sign one of those official "don't keep me alive if I'm a vegetable and for goodness sakes please donate my organs and let first year medical students dissect me in anatomy class" forms?

I'm also quite tempted to open an EmigrantDirect account. The APY difference is no longer small change, and the credit card might also be worth a look. Maybe I'll switch my seed account over?

Vanguard

I guess Vanguard is now the home of my investments. I have over $6500 of Roth IRA principal invested in their Target Retirement 2050 Fund, and my 403(b) starts going in this Friday into the same fund. Which probably means I should switch my Roth into a different fund.

I'll talk about my investment thoughts in a separate post, though. Still not quite ready for this yet.

I finally went ahead and transferred $2,393.61 from my Bank of America savings account to my checking account. I left the minimum $1500 in savings to keep my checking free.

And from there, I transferred $1,393.61 to my ING account.

I held $1000 back because my co-workers were registering for a course that our PI was supposed to pay for, but they couldn't find him in time. So who's Ms. MoneyBags in case they had to throw down a check anyway?

Yours truly, apparently.

That is just wrong on so many different levels.

Thank goodness I didn't actually have to loan them the money. Actually, I would have been loaning my boss money. How weird is that? And it's not a trivial amount, too.

Anyway, after work, I attended an International Student Welcome Dinner with two labmates. I would be getting a free meal, and all I had to do was...pretend to be an international student. It was amusing and rather stressful, because although I knew I looked the part, I also knew that if I spoke one lick of English, my perfect American accent would give me away instantaneously.

So I did a lot of smiling, nodding, enthusiastic gesticulating, and fakely-accented single syllabic responses. Anything to convince people that I wanted to communicate, I was trying to, but I couldn't speak enough English to carry on a full conversation.

Yeah, it was pretty hilarious.

The food was good, though, and totally worth it--eggplant parmesian, salad, and pizza. And I got to take home a free box of donuts because they had too much left over. Score!

Then, I went to B&N to read. I finished half of Rich Dad Poor Dad. Fascinating book, I'll need more time to absorb it.

On the way home, I passed by a help wanted sign. Didn't have the guts to go in and ask about it, though. Why am I such a wuss?? I guess I just hate confronting people (this is why I retreat to the internet). I just freeze up and end up talking myself out of it.

Maybe next weekend, when the SO visits, I'll have him accompany me as I go door-to-door. That might, like, actually force me to go inside and ask.

I'm also thinking of getting certified as an EMT, and then doing that as my part-time nights and weekends job. All this, because I'm afraid to walk into a store and ask about their help wanted sign.

Self-confidence? What self-confidence?

Recently, I've had my first major spat with my SO of nearly two years.

We've lived in cities 30 miles apart since mid-June. While this probably seems like No Big Deal, neither of us has a car (I don't even have my license and he has "issues" with cars), the public transportation sucks, and as a result, our relationship has essentially become long-distance.

I wanted to fix this by buying a car and moving in with him (since he's neither capable nor willing to move in with me). Initial estimates placed the cost at $5K for the car and at least $400/mo maintenance; after more research, I was able to get the price down to $2.5K for the car and less than $300/mo maintenance--by only driving car to a bus that would take me to/from work every day.

The snafu came when it became clear that he expected me to 1) pay for the car itself, 2) pay for the monthly car maintenance, and 3) split his rent and utilities with him 50/50. This would put me over my current monthly expenditure by $200, and does not include the tripling of my commute time.

I was looking at buying a car in an attempt to bridge our long-distance relationship for the sake of both of us. And he wanted everything to come out of my pocket (because he "didn't want me to do anything that I would not have done without him"), and then enjoy the 50% rent and utilities reduction that comes with having a roommate.

I never explicitly asked him to contribute, but I was greatly peeved that it didn't even cross his mind to, you know, offer *something*. After all, I'm on a shoestring budget, and he makes $20K/year more than me. Why should I be making all the sacrifices while he does not lift a finger?

Finally, I suggested that maybe we should roll the car maintenance cost into the total household expense, and split *that* 50/50. That would only put me $50 above my current monthly expenditure, and still save *him* over $600/mo. And I'll still save and pay for the car myself, and deal with the commute.

Apparently, suggesting that we "split household costs" hit a major nerve, and he completely flipped out. It was unacceptable, too much commitment, why did I have to do this when he was perfectly happy with the long-distance arrangement. When I pointed out that a relationship should be a partnership/two-way street, he replied that he doesn't see anyone except himself in his future.

I'm sorry, but WTF? I couldn't take it anymore. I broke it off. And it wasn't even really about the money. How the hell was I supposed to react after being told that splitting household costs was unacceptable because he didn't see me as part of his life? Smile, nod, and go along with it? I wasn't looking for a free ride or an engagement ring, just... MORE THAN WHAT HE WAS GIVING, that was for sure!

And then a few days later, he gets his act together, and totally regrets what he said before.

It took me a while to get over what happened, but we are trying to work things out again, and this time, his offer was very different.

1. He'll float me an interest-free loan for the entire cost of the car when/if I buy it next summer. This removes the car fund from my budget, and takes a lot of pressure off of me for the upcoming year.

2. I will be repaying him for the car in lieu of paying rent until the car is completely paid off. Yes, he's giving me free rent up to the cost of the car, in exchange for my buying it and putting us back together.

3. My monthly expenses will NOT increase. Since I'm paying just shy of $600/mo for rent and utilities now, that's the maximum I have to contribute. This eliminates any financial risks I might be taking by moving in with him.

4. He doesn't even care if his own monthly costs do not decrease. He's not interested in using me to save money. I think he's even willing to pay extra to have me around.

5. He wants us to put down in writing the explicit terms of our cohabitation. It will guarantee that even if our relationship goes south, I won't be hit with any extra costs until I can move out.

I am so stunned by this 180 degree turnaround. It's not like I'll ever hold him to #4, since it essentially implies that I can get away with just paying for the increase in utilities that I'll be invariably causing, plus the car purchase and maintenance.

I haven't decided what I'll do yet, but I'm bouncing around some ideas. I might accept free rent for half of the price of the car. I might also go with the "pay equal shares" approach, where we contribute equal percentages of our salary towards joint household expenses. That will end with me paying 40% of the bills, and him paying 60%. That comes out to be around $500/mo for me, and $760 for him. I save $100/mo, and he saves $200.

I'll post a more explicit budget when it's not 4am.

I think this *might* work.

I've been trying to get a handle on all the different investment terminology, and in the process, I've learned a new concept.

Dollar cost averaging (DCA).

When you make small, periodic investments over time, you tend to buy more shares at a lower cost.

Brilliant!

In light of this, I've changed the auto contribution for my Roth to weekly instead of monthly. At $170 per week until April 9, 2007, this should max out my $4K 2006 contribution, and also put me on track for my 2007 contributions. I'll have to calculate whether my year-to-date income savings can handle this rate of deduction, though. I'll do that this weekend.

I also feel better (somewhat) about the fact that share prices (for the Vanguard 2050 Target Retirement Fund where I've invested my Roth) have fallen in the past couple of days. Losing over $50 in the first week of starting my first investment is not exactly encouraging, although I know intellectually that it doesn't really matter.

But still, I should look into who's managing the fund, and possibly switch out. My 403(b) will be going into the same fund, and I'm thinking fund diversification is probably better.

I'm going to start building a Fund Watch list. I have over $10K in seed money that needs to go somewhere. I should be able to buy two funds with this money, although I think I'll only get one, at least until my emergency fund ($5K goal) is built up.

Oh, and FYI... I just calculated my net worth, and against my expectations, it is actually positive, even with my $22K in student loans. I'm worth nearly $5K, baby.

Rock!

To start off, I just want to point out that I posted my e-mail address and AIM screenname. It's over to the right, below my Bio section. So e-mail or IM me! I'm bored and lonely!

Now, onto the primary order of business...

I'm realizing that I've been putting in 10 hours of work a day for 7.5 hours worth of pay. And this is, in fact, normal, approved of, and even occasionally expected.

While I do like my job and stay late because I get sucked in, I am starting to get irked at the lack of compensation.

So I've been thinking. Maybe I should get a second, part-time job in the evenings. This will force me to leave (normal) work on time, and even provide me with compensation for the extra time that I would have spent working, anyway.

Yes, I know this is backwards and demented. I'm thinking of working more in order to, um, work less at my normal job. Someone please come and screw my head on straight.

I've been contemplating my options. Keep in mind that I have no experience in any of these positions.

- Waitressing

I know the base pay for waitressing sucks, and I'm not sure what it'll be after tips. But the possibility of free food at the end of the day is enticing. But I bet the job itself is mad frustrating. I've done customer support. *shudder*

- Bookstore

I like books and bookstores, so maybe I can find a job in one. It'll be nice and mellow? This might be better for a weekend position?

- Baby/house/pet sitting/walking

This is a nice possibility because this could go under the tax radar. I'll have to find clients, though. Not really sure how to go about that.

- Tutoring

I'd like to avoid this possibility, but there are many subjects that I can teach. I just don't like dealing with *people*. And I kind of want a mindless-robot type job where no thinking is required. So probably not this one if I can help it.

I'm thinking 10 extra hours a week should bring in about $100 a week (probably a little less)?

It's not like I have anything better to do with my time, anyway.

Besides, um, blogging.

I just broke up with the bf.

I don't curse much usually, but I'll make an exception this time. Children, please cover your eyes.

FUCK.

I guess the car fund just took a dip in priority. Maybe I'll lower it to $250/mo, and up the emergency fund by $100.

In the meantime, I think I'll go cry some more now.

I feel like I need to do house cleaning regarding my various bank accounts--or at least re-evaluate if they're suiting my needs, and if I can do better.

So, in the next series of entries, I will analyze which accounts I have, which accounts I want/need/is best, and how to get from the former to the latter.

In conjunction with this, I'll also figure out how my money will navigate these accounts for minimum fees and maximum returns.

I'll just start off with what accounts I've got.

Currently, I have accounts with two banks: Bank of America, and ING. First, I shall discuss what types of accounts I have with each bank, look up and write down what their features are, and how I use them.

Bank of America

Regular checking account

I got this account four years ago for when I started college. At that time, it was still Fleet Bank. We chose it because it offered free checking to students at my college, and it was the only bank with an ATM on campus--a reasonable consideration at the time (but no longer relevant now).

This account gives me check writing, an ATM/debit card for cash withdrawals and check deposits, and online banking and bill pay. I use all of these features. BoA is also pretty ubiquitous, which is also convenient.

Here are the minimum requirements to avoid fees, copied from their website,
http://www.bankofamerica.com/deposits/checksave/index.cfm?...

- A $750 minimum daily balance in one checking account.
- A $1,500 minimum daily balance in one Regular Savings or Custom Savings account.
- A $5,000 minimum daily balance in one Money Market Savings account.
- A $5,000 average daily balance in checking linked with savings, Money Market Savings, CD or IRA accounts.

Regular savings account

The maintenance fee of $3/mo is waived with an automatic monthly transfer of $25 or more from your Bank of America checking account, or with a minimum daily balance of $300.

The interest rate is 0.5%, and the APY is 0.5% (erm, what's the difference between the two??). The interest is compounded daily, and awarded monthly.

I think we can all agree that the interest rate sucks. I'm seriously re-thinking this particular account.

Power Rewards Visa credit card

This is my first and only credit card. I didn't really want it, not after hearing all the horror stories about credit card debt, but after urging from both my family and alumni friends, I agreed to get one to work on my credit score.

BoA was, like, sending me card offers every other week (because they were imagining a "CLUELESS COLLEGE STUDENT JUST WAITING TO BE LURED INTO LIFELONG CREDIT CARD DEBT" stapled to my forehead, no doubt), so I just decided to bite, and show them who's boss. They knew how much money I had in my accounts, so I was essentially preapproved.

I have no idea what the interest rate is, but it doesn't matter because I use it for groceries, books, and online purchases, and I always pay it off every month. I forgot once, because I was paying it online the day the balance was due, and didn't realize it took a business day to process. Never did that again. Now I pay it on the first of each month, along with my rent. They're not making another penny off of me.

Fixed Term IRAs

I have two fixed term Roth IRAs with BoA, again, opened for me by my father. One has a little over $6000 with an interest rate of 4.78% and an APY of 4.88608%. It matured last Friday. The other has a little over $2000, with an interest rate of 3.2%, and an APY of 3.25%. It matures next March.

I think that in order for these Roth IRAs to be fee-free, I need to maintain a minimum of $10,000 in my BoA account. But I'm not 100% sure.

ING

My father opened a joint account for/with me a few years back to take advantage of the high interest rate. He transferred a lot of my work-study savings from BoA into this account, as well as a lot of his own money. Because I can no longer distinguish which money is mine and which is his (unless I ask him for the tax returns that he did for me for the past four years or count up all of the debits to my BoA account from the past four years), so I just call that account the "Seed money" account.

Since I got my job, my paycheck has been direct deposited into ING (with the exception of three checks). I opened a subaccount called "Income" to hold them.

I also started subaccounts for the various goals I'm earmarking funds for--car, house, and emergency. And possibly Roth IRA.

All right, in the next installment, I'll critique these accounts, and figure out what I'd like to change.

David Bach says: "Pay yourself first," eh?

All right, then. Here's my new monthly budget plan, based on his advice. I know that he thinks that budgets don't work, but I probably wasn't the type of person he had in mind. I 'budget' all the unavoidable expenses so that I know exactly how much I can pay myself with afterwards. It's not like I need a budget to help me limit my spending.

Okay, let's start off with income.

At $16.15/hr and 37.5 hr/wk, I'm making a gross of $2600/mo. Furthermore, my gross income for 2006 will total around $17,400.

I still don't know how much taxes I'll owe, but my father is sending me last year's tax software Any Day Now. He also says that after plugging my figures, I should not owe more than $900 in taxes for 2006.

So that gives me around $2350/mo to work with. I think. I hope.

Paying others (boo):

Rent: $500 (sigh)

Utilities: no clue yet, guestimate $100 total?

I try to save by not plugging in my second and third computers, and turning off the one I do use when I'm away at work, but sometimes, I wonder why I even bother. My roommate has tons of electronics, runs the AC all day/night even when it's not hot, and wastes gas by burning his food by leaving the stove on for an hour.

Groceries: $100

Even though I don't spend more than $60 most months, I always allow myself $100, because skimping on food seems... unwise and unnecessary. And I might actually end up accidentally starving myself if I don't cut myself some slack here (I've actually lost weight... which is NOT GOOD). But I can make an effort to take the extra $40 that I never spend and put it towards paying myself at the end of the month.

Student loans: $134

That's the amount due for Stafford, starting September, which I've put on automatic debit (yeah, automation! Reduced my interest rate by 0.25%, too!). I still haven't decided if I want to accelerate repayment on this because I've been hearing mixed reports. But at least the interest is tax-deductible!

Union dues: $40

I get free health insurance and dental thanks the our union. I fully support them, and don't begrudge them their dues. I just have to turn in my member registration form!

Now, for the good stuff. Paying myself (in approximate order of importance):

Roth IRA: $333.33/mo

This will max out the $4000/year contribution limit over the course of 12 months. My father says he'll make up the rest if I don't make it to $4000 this year, but I think I can do it on my own.

I currently have $8262.09 in two Roth IRAs in Bank of America. These were deposited by my father for me a few years back when I was still young and naive and had no idea what he was doing and thought it was all quite silly to start saving for retirement so early. *whacks younger self in the face repeatedly with something smelly*

Anyway, the rates suck, so I want to roll it over to Vanguard. Except Vanguard requires a minimum balance of $5000 to waive the maintenance fee. And while one of my BoA Roth IRAs has matured (the one worth $6000, so I can satisfy Vanguard's minimum), the other one does not mature until next March. But if I move the matured Roth IRA, I'll be hit with a charge from BoA for dropping below its minimum.

Argh.

I'm still trying to figure out how to resolve this mess. This is why I haven't signed up for a Vanguard Roth IRA yet. But when I do, I will AUTOMATE the $333.33/mo transfer.

403(b): 20% (~$520 pre-tax)

In order to max out the $15,000 yearly contribution, I'd have to deduct $1250 per month. While I'd love to do max this out as well, I don't think I can handle a >50% paycheck reduction.

David Bach recommends at least 10%, which would be around $260 for me. But I think I can handle 15%, which is why I made it 20%, or $520.

Now, I just have to GET OFF MY LAZY ASS AND FILL IN THE VANGUARD FORMS AND TURN THEM IN. *cracks whip*

Car fund: $400

My car fund has a target goal of $5000 in 12 months, or about $400/mo. I may not end up spending it in a year, but it'll be good to have this around when I do finally get around to buying a car.

House fund: $40

Although a house down payment is many, many years down the line, I feel like I should start saving for it now. Can't hurt, right? The car fund gets priority for now, but once the car fund is fulfilled, that money will probably go here. And in the meantime, I think this is where I'll plop my excess grocery money.

Emergency fund: $100

If I should have at least 3 months worth of expenses in it, then $3000 is my target. I'm going to keep this conservative for now.

Savings: whatever is left

I'm terrified that I won't have anything left to go here at the end of the month, though. This is so weird for me, because I'm used to putting *all* of my unspent money into savings, which amounts to half (or more) of my paycheck. But now, I'm "paying" myself so much that I'll hardly have anything left!

And my savings will need to fund any shortages to my Roth IRA maximum, as well as any unforeseen expenses, such as clothing, public transportation fares, and dental co-pays (I'm in serious denial about the existence of cavities). And this will probably also need to supplement my various funds (car, house, emergency).

I know this should be right, but why do I feel so panicky? Am I cutting it too close? Doing too much too soon? What if I can't handle this? I do have a father-supplied savings buffer, but I don't allow myself to see it as touchable. If I end up dipping into it, then I'll have to re-evaluate this budget.

I know I still need to discuss cash flow, but I think I'll put it in a new post. This one is overwhelming enough as it is.

A bit of good news, at last.

I found a bus that goes to/from New Haven to a Park & Ride Lot four miles outside of Middletown.

I'd still need a car, but this cuts costs drastically.

I decrease my daily mileage from 60 mi to 8 mi, for a decrease of 87%! Plus, I save on $100/mo parking. And I probably can get a cheaper car, since it won't be driven so hard.

The bus fare is $3.60 per way, for a total of $180/mo--if there is no commuter discount/monthly pass, which I can investigate. But with the savings in gas and parking, I still come out $100 on top, compared to the previous estimate.

And the bus schedule is perfectly synch'ed with my work day.

This just might work.

*crosses fingers*

I've been thinking of buying a car.

I don't even have a driver's license yet.

Everyone thinks I'm some sort of weirdo-freak for not driving (um, grew up in New York City?) and is not sure how I get by without one (by walking, taking public transportation and carpooling?). People keep telling me that I'll need to get a car eventually, so stop resisting already. But I counter by saying that I get along fine, and I'm saving loads of money--and the environment, to boot.

Why am I finally considering it? Because I'm a sucker who misses her bf in Middletown, and he doesn't drive either. If I moved back to Middletown, I could room with him for cheaper rent, but I'd have get a car and drive to New Haven to work.

So I thought I'd crunch some numbers and get a sense.

According to my father, he says I should expect to spend $4000 to $6000 on a decent, fuel-efficient used car. I'll trust him, since he's neither trying to sell me a cheap junker that will get me killed, nor persuade me to overspend on something I don't need.

Now, I just signed a one year lease in New Haven. That means I'll have a year to save (and learn to drive!), since I'd really rather not take out a car loan.

I'd have to put away $500 per month to reach $6000 in 12 months.

This does not include:

- driving lessons (at $30/hr)
- driver's license test ($40)
- actual license ($77)
- license plate/registration ($150)

And then after I get the car, I have to continually feed it money monthly. Here are the figures, as far as I can estimate them:

- insurance: $800/year (get it with my family)
- parking: $90/month (ouch, right??!)
- gas: 60 miles/day round-trip at 30 mpg and $3/gallon for 25 days = $150/month
- maintenance: ???
- property tax: $360/year

Rounding up on the gas, since I'm sure that particular figure is tragically optimistic, everything comes out to be about $400/month.

All of this (one year of saving $500/month, plus $400/month afterwards) for the opportunity to split $775/mo rent, heat not included. (I'm currently paying $500/mo w/ heat included.) Oh, and the joy of seeing my bf every day.

Wow, the frugal part of me is screaming that it is SO NOT WORTH IT.

Then why have I put saving for the car into my budget?

Damn it. DAMN IT. *whacks oxytocin upside the head*

So, the take-home verdict is in. My monthly income should be $2,025.962, but I'll be rounding that down to $2,000 for the sake of paranoia and Nice Round Numbers.

Ahead comes guestimations of future expenses.

Rent: $500

This is with a roommate. At least it includes heat and hot water, is close to the shuttle bus, and is within reasonable walking distance of my favorite grocery store.

Electricity: $20

This is split with the roommate.

Internet: $30

Also split with roommate. Can't live without broadband. This expense doubles as entertainment in the form of internet radio and bittorrent.

Natural gas: $50

Don't really know if this is accurate, but I'll probably be footing the bill for this one alone, since I am the sole cook of the household.

Groceries: $100

I budget $100, but I usually spend $60 - $80. I also get the use and abuse the CostCo membership of my roomie. Yay! Bulk nonperishables, here I come!

Student loans: $250

Again, an overestimate of what I'm required to pay, which is $133 for my Stafford, the only loan currently in repayment.

Retirement: $150

This figure is another random shot in the dark. I need to do more careful analysis before deciding on the final amount.

Savings: $900

Over a period of 12 months... that's approximately $10K into savings? If these projections hold true... Only time will tell.

1. Calculate my income tax bracket so I know my actual take-home pay. Apparently, I screwed up my tax exceptions. Must fix, and adjust the figures.

2. Write a proper budget based on above post-tax pay. This might need to wait a few months so I can get a sense of what the ballpark range on bills will be.

3. Figure out how much to put into retirement, based on above budget. Maybe strategically take out enough pre-tax dollars to bump me into a lower tax bracket? Does it work like that?

4. Calculate the best way to pay off my student loans. All $23K of them. Shniff. Take into account the fact that interest rates on my Stafford will drop 1% next year if I make all my payments on time. And my Perkins has higher interest rates.

More as I think of them. Damn, being an adult is complicated.