How can I be losing money by working? Please help look if my wage of living is correct?

Offer: 38,500 Salary

(18.50/hr)

(740/week)

(3,200/month)

Salary Tax: 7,700 閳?11,550 (20%-30%)

~ Total: 30,800 - 26,950

--------------------------------------...

26,950 Salary (minus tax)

-15,600: 1,300 閳?1,500 * 12 months (Rent in Encino, CA)

-1,380: 115 * 12 months (Utilities)

-1,776.00: 37.00 * 4 weeks *12 months (Transportation)

-6,720: 140 * 4 weeks * 12 months (Food)

(Subtotal: 1474)

- 2,400: 50 * 4 weeks * 12 months (Miscellaneous)

- 1700/year (Full Coverage Insurance with Accident Record)

- 1800: 150 * 12 months (School Loans)

= NEGATIVE 4,426

I would be owing $4,426 for WORKING? Doesn%26#039;t make sense. Someone help!

How can I be losing money by working? Please help look if my wage of living is correct?

Looks like you need to eat less and get a roommate.

The middle class is fading, watch it go!

Sucks being a grown up, doesn%26#039;t it.

How can I be losing money by working? Please help look if my wage of living is correct?

It is called living beyond your means. First look at your taxes they seem high but CA has a state tax so could be true. Your rent is way to high for your income and you should be able to cut your food and misc back. I would suggest either a second job or a roommate unless you want to live on little food and going nowhere. You have left out major expenses like 401K, emergency fund saving, renters insurance, vacations, gifts.

Try for a better job since you have student loans you should be able to earn a living, if not find a second job until you improve job skills.

How can I be losing money by working? Please help look if my wage of living is correct?

You%26#039;d be making $38,500 less taxes for working. You%26#039;d be losing $4426 by living beyond your income and spending more than you make. That won%26#039;t work for long. You need to spend less, or find a way to make more like a second job.