Taking home from $22/hr as a teacher in Texas—how much should I actually budget?
Hi! I just accepted a teaching position in Texas starting this fall at $22/hr (guessing it's around $45-46k annually if I do the math right?). This is my first full-time job out of college and I'm trying to figure out what my actual take-home pay will be so I can make a realistic budget.
I'm single, filing single, and I'll probably be getting health insurance through the school district. I've heard Texas has no state income tax which is great, but I'm not totally clear on how federal taxes, FICA, and other deductions work in real numbers.
A few specific questions:
What's a realistic estimate for my monthly take-home after federal taxes, Social Security, Medicare, and health insurance premiums? I'm seeing conflicting calculators online.
Is there anything I should know about education-related tax deductions or benefits for teachers in Texas specifically?
Should I be setting up anything like a 403(b) or Roth IRA through the school, or should I wait until I'm more settled?
I know teachers don't make a ton, and I'm realistic about that, but I want to make sure I'm not overspending based on what I *think* I'm taking home. Any insight would be super helpful!