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Author: alstroemeria Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 734833  
Subject: Re: 5/31/05 Update and request for direction Date: 6/1/2005 7:50 AM
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For tax bracket info, try this:

http://www.fairmark.com/begin/bracket.htm

Looks like you're in the 25% bracket, which means your TAXABLE income over $29,050 is taxed at that rate. Your taxable income is your income minus deductions such as personal deduction, mortgage interest, and property taxes (so your taxable income is considerably less than $50,000).

You're doing very well for someone your age and income level--kudos! Things to watch out for include spending too much on household stuff and maybe gifts. Also, young women often have problems reining in spending on clothing and beauty salons. And if your colleagues at work or friends on the outside eat out a lot, that could also be a temptation, but it looks like your Fun allowance is quite small (so I hope you're having enough fun!). On the other hand, be sure to spend adequately to keep up with maintenance on your home--that will save you money in the long run as well as make your home a more pleasant place to live.

My son is your age, and when he comes home for a visit soon, one of the things we're planning to do together is work on his spending plan. Think I'll show him yours!
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