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### Understanding Living Costs in Connecticut: A 2012 Breakdown for New Teachers ###

This comprehensive overview delineates the living expenses of a new teacher in Connecticut during 2012. Earning $46,100 annually, the take-home pay after deductions totals $1,599.93 bi-weekly. Key expenses include rent at $1,195/month, student loan payments around $300/month, and a new car payment of approximately $300. Monthly bills for groceries, utilities, and insurance further strain the budget, leaving only $117.86 at the end of the month. The analysis highlights the financial challenges faced by educators amid Connecticut's high cost of living. ###

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### Understanding Living Costs in Connecticut: A 2012 Breakdown for New Teachers ###

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  1. Economics What does it take to live in Connecticut in 2012?

  2. The Cosby Show • http://www.youtube.com/watch?v=TZ8QvafmUcw

  3. Teaching Job • A Manchester High School first year teacher with a Masters degree (That’s 5 or 6 years of schooling after H.S.) will earn $46, 100 a year.

  4. However . . . • Paid bi-weekly • $2,201.33 every two weeks • Deductions • They have $601.40 in deductions • These can include: • Healthcare • Taxes • Union dues • Take home • 1599.93 Bi-weekly • 3199.86 monthly

  5. Bills-Living Expenses • Rent is $1195 for a one-bedroom, 725 sq. ft. apartment • Cable and Internet • Cox $150 a month • Electric Bill • $150 a month • Trash • $15 a month

  6. College Loans • If you spent 5 years at UCONN. • Had loans totaling: $25,000. • You would pay approx: $300 each month.

  7. Car Payments • I bought a 2012 new Kia Forte for $18,000 • I pay $300 a month in car payments • I will pay this for 60 months because I put $5,000 down.

  8. Car Insurance • In order to drive, I pay $147.00 in car insurance each month

  9. Gas • The current price of gas in Manchester is $3.95 per gallon. • I spend $70 to fill my tank once a week. • Totaling $280 a month

  10. Cellphone • I pay $25 a month to have a cellphone.

  11. Groceries • Shopping at the local Stop & Shop, I spend $130 a week • Totaling $520 a month

  12. After I pay all these things… • I earn $3,199.86 a month • - $1,510 for rent and living expense bills • -$300 for loans • -$300 for car payment • - $147 for insurance • -$280 for gas • -$25 for cellphone • -$520 for groceries

  13. Overall • In total living expenses I pay… • $3,082 a month vs. $3,199.86 I earn • That leaves me with a total of $117.86 left over!

  14. The Poverty Line • The federal poverty line is $18,000 a year. • 9.4% of CT residents fall under this line

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