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  • Living Off My Salary Career Work

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    Peter Kim calculates his annual income after taxes to be $89,008.28. He then estimates his annual living expenses to total $51,886.57, including $25,912.80 for housing, $2,541.84 for his vehicle loan payment, and $4,695.15 spent on furniture. After accounting for all estimated annual costs of living, Peter calculates that he will have $37,121.71 remaining in savings.

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    Peter Kim calculates his annual income after taxes to be $89,008.28. He then estimates his annual living expenses to total $51,886.57, including $25,912.80 for housing, $2,541.84 for his vehicle loan payment, and $4,695.15 spent on furniture. After accounting for all estimated annual costs of living, Peter calculates that he will have $37,121.71 remaining in savings.

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    16 views17 pages

    Living Off My Salary Career Work

    Uploaded by

    api-694281447
    Peter Kim calculates his annual income after taxes to be $89,008.28. He then estimates his annual living expenses to total $51,886.57, including $25,912.80 for housing, $2,541.84 for his vehicle loan payment, and $4,695.15 spent on furniture. After accounting for all estimated annual costs of living, Peter calculates that he will have $37,121.71 remaining in savings.

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    of 17

    ONLINE SHOPPING

    BY PETER KIM
    Calculating federal
    and provincial tax
    • Federal Tax: $24,613.88
    • Provincial Tax: $10,187.64
    • Cpp+EI: $4721.20
    • Gross Income($128,531) -
    Taxes($34,801.52) - CPP+EI($4721.20)
    = Net Income($89,008.28)
    HOUSING
    (MONTH RENT $1995 +
    INTERNET BILL $100 +
    ELECTRICITY $64.4) * 12 =>
    ANNUAL PAYMENT = $25,912.80
    CAR
    VEHICLE COST = $11,900
    CAR
    LOAN
    PAYMENT
    PAYMENT (211.82 A
    MONTH) * 12 => ANNUAL
    PAYMENT = 2541.84
    FURNITURE
    • SOFA: Seth Genuine Leather Power Reclining Sofa-
    Rope
    • Cost $2474.98 (it was on a 25% discount when I was
    viewing)
    • Taxes: $296.99
    • Total cost: $2771. 97
    Dining table + Coffee
    table
    • Berni Coffee table + Oris 6- piece Dining Package
    • Cost: $549.95 + $1167.18
    • Taxes: $65.99 + $140.06
    • Total Cost: $1923.18
    Bedroom Set
    • Aida 4- piece Queen Bedroom Set + Axel 4-piece
    Full/Queen Comforter Set
    • Cost: $596.95 + $69.95
    • Taxes: $71.63 + $8.39
    • Total Cost: $746.92
    Desk
    • Tygerclaw Ergonomics Sit-Stand
    Desktop
    • Cost: $383.99
    • Taxes: 46.07
    • Total Cost: $430.06
    Television
    • LG NanoCell 65" 4k UHD
    • Cost: $894.98
    • Taxes: $107.39
    • Total Cost: $1002.39
    Computer
    • CyberPowerPC Gamer
    Supreme Gaming PC
    • Cost: $2858.98
    • Taxes: $342.07
    • Total Cost: $3202.05
    Microwave
    • Panasonic NNSC6788/C
    • Cost: $169.99
    • Taxes: $20.39
    • Total Cost: $190.38
    Dishes+Cutlery+Cups
    • HT Blue Speckle 12PC Set + Jorati + Mainstay Glazed
    White Stoveware
    • Cost: $49.97 + $16.20 + $2.47 (buying 3 set)
    • Taxes: $5.99 + $1.94 + $0.29
    • Total Cost: $82.38
    Blender
    • Black + Decker
    • Cost: $42.98
    • Taxes: $5.15
    • Total Cost: $48.13
    Coffee Machine
    • Salton Jumbo Java Coffee Maker 14
    Cup White, FC1667WH
    • Cost: $79.98
    • Taxes: $9.59
    • Total Cost: 89.57
    Pot and Pans
    • Starbacix 10 Piece Non-Stick
    appliances
    • Cost: $57.97
    • Taxes: $6.95
    • Total cost: $64.92
    Cost of Living

    Annual Housing($25912.80) + Annual Vehicle($7341.84) + Net Income($89,008.28) - Annual Living($51886.57) = Savings($37,121.71)


    Furniture($4695.15) + Bedroom set($1176.98) + Electronics($4394.80) +
    Housewares($365.00) + Annual Grocery($3600) + Annual
    Entertainment($2400) + Annual Clothing($1800) + Annual Misc($2000)=
    $51,886.57

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