6/19/2009

My EI Budget

I dediced to mock up a budget in case I were to get laid off. I'm assuming a few things:
  1. I would qualify for EI

  2. I would get at least 2 weeks severance ($1700 less taxes)

  3. My severance would pay off my credit card entirely (which it would if you include the banked OT I have and vacation time owed to me).

  4. I would get about $380/week after taxes in EI payments or $1500/month (see below)

  5. I would have enough in my emergecny fund to get me through the first month. I'm almost there, I would need another $400.

There are some things that just wouldn't change. My Rent, utilities, car insurance, cell phone and student loan debt. However; I could probably lower my student loan payments.

If i could manage, I would not want to stop putting money away into savings - however; it would be significantly less (expect my house fund, I beleive I mentioned before that's non-negotiable for me at this point).

I would have about $300/month or $75/week for food, personal & other. Could be doable.

I think it would be alright to survive on that because I know that Jordan would help out wherever he could.

Do you have an EI budget? Do you think mine is realisitc?

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