Monday, March 30, 2009

Money or Your Life Monday: Job Costs

The next exercise I need to complete according to Your Money or Your Life is determining how much my job actually costs me. Here's the breakdown of my out-of-pocket expenses:

This includes the time spent driving to work and the gas involved. I spend 15 minutes driving one way, around 8 miles. Assuming that 16 miles would take 1 gallon of gas, the trip costs me $2 per day. The cost is approximately $360 per month.

Between the business attire, shoes and other accessories, I spend approx. $100 per month. I don't dry clean my clothes (just wash them in cold water on the gentle cycle and let air dry), so I didn't include a cost for that.

I keep a stash of food in my desk that gets replenished monthly. In that stash, I usually keep oatmeal and cereal, so I only have to buy hot water or milk. As a "treat" (although I wouldn't exactly call our cafeteria a treat), I buy lunch on Fridays. Total food costs are $160 per month.

So when it's all said and done I spend $620 per month for work-related items, which totals more than $7,400 per year.

These costs don't include donations to fundraisers, happy hour costs, contributing to cake for birthdays, bagel breakfasts, etc.

Now that I have an idea of what work costs me, it's onto the next exercise. I have to inventory everything I own (I'm really dreading the work involved with that.) Essentially, I have to go through out entire house, garage, shed and basement and assess the value of each and every item. Stay tuned...

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