I am considering taking a job in Boulder, CO and was playing around with some budget numbers I was hoping some of you CO residents could help to validate.
This job would be a substantial pay cut for me, but I think it would more then make up for it in a quality of life way.
Married, no kids, 2 dogs, plan for a baby in 2-3 years. Wife will probably not generate any income for a while (she is a photographer and would need some time to set up business/clients)
The only hesitation I have is the insane cost of living in the area. Buying seems out of the question and rent is super high so I just wanted to make sure my numbers were in the ballpark before I made any decision.
I would ideally like to live in Boulder so I can bike to work and keep it down to one car for both of us.
Basically are my variable expenses legit?
Do the numbers seem reasonable?
INCOME: $120,000
Base $10,000
401k Match $500
Total Income $10,500
FIXED EXPENSES:
Federal $1,000
State $463
SS $613
Medicare $145
Health $250
Total Fixed $2,471
SAVINGS:
401k $1,500
ROTH $917
Taxable $2,000
Total Savings $4,417
VARIABLE EXPENSES:
Food $600
Cell Phone $50
Housing $1,500
Dogs $50
Car Insurance/Gas $100
Utilities $100
Fitness/Sports $250
Purchases $500
Total Variable $3,150
Total Outflow $10,038
Net Available -$38
Saved 63.21%