Unformatted text preview: $ 7/mo Food (including eating out at restaurants) $400/mo Clothing $ 75/mo Automobile repairs $ 25/mo SUBTOTAL $3,572/mo EXPENSES EXCEED INCOME BY MORE THAN $400 PER MONTH! NOTE: Does not include expenses for credit card payments, money invested into a retirement account, child support payment obligations, etc! NOTE: Some employers will contribute to insurance coverages and retirement savings plans. NOTE: Social security tax burden will be nearly doubled for self-employed persons. † purchase price of $25,000 at 6% interest for 5 years ‡ student loans of $28,174 at 5% interest for 10 years...
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- Fall '08
- Debt, Federal Insurance Contributions Act tax, Self-employment