Middle Class lifestyle? (Chicago: middle-class, coupons, apartment)

[Nikki9947]

Since Chicago is known to have a high cost of living, what is the minimum amount of income necessary in order to live a standard "middle-class", comfortable, stress-free, lifestyle for a standard single person (no kids)?
In other words: I wouldn't move to Chicago for anything less than $( )?

[mh7]

That is really an impossible question to answer. I had friends who moved to Chicago after college & who made less than 30k/year who fit your criteria. My wife & I make more than 7x that combined now & we barely feel "middle-class". I think it really depends on what your criteria are for both "middle-class" and "stress-free" - they vary widely depending on who you talk to!

[ajolotl]

Originally Posted by Nikki9947

Since Chicago is known to have a high cost of living, what is the minimum amount of income necessary in order to live a standard "middle-class", comfortable, stress-free, lifestyle for a standard single person (no kids)?
In other words: I wouldn't move to Chicago for anything less than $( )?

The answer to this question will say more about the person answering than about the cost of living in Chicago. It seems more sensible for you to enquire about the cost of specific things and then do the math yourself -- e.g. cost of a 1 bedroom apartment in a prime area, taxes, parking, public transit, etc.

[chet everett]

Very tough question. A lot depends on your definition of "stress-free". If that means living very close to work, not having to worry about on-street parking, having a quiet place to come home to but easy jaunt to entertainment I think that few people would suggest this is possible on a single of income of under $40,000. Mind you, this is NOT going to be enough own anything -- you'd be a renter even if you had an enormous downpayment...

[long101]

i dont think stress-free falls into the middle class.

Personally I would think a single stress-free person would have to make min 70k.

Car payments, rent, night life, parking tickets, dinners, toys. It adds up.

[via chicago]

Originally Posted by Nikki9947

Since Chicago is known to have a high cost of living, what is the minimum amount of income necessary in order to live a standard "middle-class", comfortable, stress-free, lifestyle for a standard single person (no kids)?
In other words: I wouldn't move to Chicago for anything less than $( )?

Come on, thats an entirely subjective open ended question and you know it. What do YOU constitute as being "comfortable" or "stress free"? Is it a McMansion in the suburbs with a 3 car garage? Is it a small vintage condo in the heart of a bustling neighborhood close to downtown? Is it a little bungalow in the inner burbs close to the train with a small space for a vegetable garden in the back? Where will you be working; what do you consider an acceptable commute?

Some people consider "comfortable" the accumulation and display of a lot of material possessions. Some consider it the exact opposite of that. Only you can answer the question of what you are looking for in a living situation.

[via chicago]

Originally Posted by long101

i dont think stress-free falls into the middle class.

Personally I would think a single stress-free person would have to make min 70k.

Car payments, rent, night life, parking tickets, dinners, toys. It adds up.

BS. You can live a perfectly "comfortable" life on FAR less. The golden rule is "Live below your means". Unfortunately not a whole lot of people abide by that today. If you are status conscious, well then maybe you do need to make significantly more.

My mother worked as a high school secretary for 35 years. My dad was in steel sales..I got news for you: not big money. But they knew how to save. Both me and my brother went to private schools. They paid for both our college educations. They bought cars in cash...but they saved years and years to make that possible. We didnt live off credit. They had a budget and abided by it. We didnt take fancy vacations like a lot of my classmates did..a vacation for us might be going downtown for a day and visiting a couple museums. We didnt have cable (they still don't). We ate out maybe once or twice a year, everything else was cooked from scratch at home. My mom would spend hours clipping coupons and balancing her checkbook to the penny. We grew our own vegetables during the summer. So like I said, "comfortable" is in the eye of the beholder.

[rose125]

Originally Posted by via chicago

BS. You can live a perfectly "comfortable" life on FAR less. The golden rule is "Live below your means". Unfortunately not a whole lot of people abide by that today. If you are status conscious, well then maybe you do need to make significantly more.

See thats the point, your comfortable might not be my comfortable. Just as our comfortable might not equal the OP's comfortable.

I think it really depends on an individuals exact decision of comfortable, as well as the location you desire to live in etc. Comfortable in the city might not be the same as in the suburbs. Just as comfortable in different areas of the city might vary based on the person.

[sharkylittleton]

Originally Posted by Nikki9947

Since Chicago is known to have a high cost of living, what is the minimum amount of income necessary in order to live a standard "middle-class", comfortable, stress-free, lifestyle for a standard single person (no kids)?
In other words: I wouldn't move to Chicago for anything less than $( )?

40-50k is doable but your not going to be living an extravagent lifestyle. You should be able to pull off a studio for around $800 a month in a few desirable neighborhoods but having a roomate to split expenses makes it easier. Turn the air conditioning off to save $$$. Sleep with a sweat shirt on to save $$$. Forego the monthly cable bill and use the internet at cafes. Not making monthly car, insurance, parking payments helps. Forget about eating at expensive restaurants more than once a month. Take the bus instead of a cab. Run & bike outside instead of paying for a gym membership. Shop at thrift stores and the internet for deals on necessary material items. Pray you don't get sick because you decided not to pay your monthly health insurance dues. JK. Here are a few ideas for ya. I was in a similar boat moving to Chicago while being wet behind my ears... but you cut corners where you can and invest in your priorites. Think of Maslov's hierarchy of needs if you need help prioritizing.

[long101]

Originally Posted by via chicago

BS. You can live a perfectly "comfortable" life on FAR less. The golden rule is "Live below your means". Unfortunately not a whole lot of people abide by that today. If you are status conscious, well then maybe you do need to make significantly more.

My mother worked as a high school secretary for 35 years. My dad was in steel sales..I got news for you: not big money. But they knew how to save. Both me and my brother went to private schools. They paid for both our college educations. They bought cars in cash...but they saved years and years to make that possible. We didnt live off credit. They had a budget and abided by it. We didnt take fancy vacations like a lot of my classmates did..a vacation for us might be going downtown for a day and visiting a couple museums. We didnt have cable (they still don't). We ate out maybe once or twice a year, everything else was cooked from scratch at home. My mom would spend hours clipping coupons and balancing her checkbook to the penny. We grew our own vegetables during the summer. So like I said, "comfortable" is in the eye of the beholder.

Your calling BS to my opinion on what comfortable is? Thats like you saying that its cold outside and me saying that your wrong.

And the life you mentioned above does not seem stress free nor comforable. That being said I make 50kish live with my girlfirend and am nowhere near stress-free :O)