Real-Life Math -- Solution
You're considering quitting your job with a major design firm
to make a bid on a large project that you would like to work on. Your current
salary is $5,000 per month. And you figure it would take another 9 months
saving 15 percent of your salary each month to be ready to quit.
If
you land the bid on the contract, you'll have $140,000. In order to find
out if you will have enough money to cover the job costs, your salary, and
the savings that you want to establish to have your business where you want
it, you need to do some multiplication and subtraction.
Your current
salary is $5,000 per month. Multiply that by 9 months to figure how much of
the $140,000 you'll be paying to yourself.
9 x $5,000
= $45,000
Next, you should determine how much you
should be saving each month.
$5,000 x 0.15 = $750
You
should be saving $750 per month. Over 9 months, that adds up.
$750
x 9 = $6,750
To determine if the $140,000 will
cover your expenses and leave you where you want to be, subtract the cost
of the job from it.
$140,000 - $78,000 = $62,000
Now
subtract each of the totals for your salary from the remaining $62,000.
$62,000
- $45,000 = $17,000
$17,000 - $6,750 = $10,250
You'll
not only cover all of your expenses, but you'll also have an additional
$10,250 left after everything has been paid.
What are you waiting for?
Now is the time to start your business.
"Mathematics can come into
play," says James Jay. He runs a training center for feng shui consultants.
"Especially if you do the compass form of feng shui. There are calculations
involved. But none of it is complex. Really, it's rudimentary skills
like division and multiplication."