You got the H-1B. Now here's how to make the most of your US income.
Understanding Your Paycheck
- Federal tax: 10-37% progressive
- State tax: 0-13% (varies by state)
- Social Security: 6.2%
- Medicare: 1.45%
Net is often 60-75% of gross.
First Month Expenses
- Security deposit: 1-2 months rent
- Furniture basics: $2,000-5,000
- Car (if needed): $3,000+ down
- SSN takes 2-4 weeks
Building Credit
You have no US credit history:
- Get secured credit card
- Use and pay full balance monthly
- Add as authorized user if spouse has card
- Credit score builds in 6-12 months
Track in Home Currency
See your savings in rupees/pesos/etc. Makes remittance planning clearer.
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.