[Juventas]

Are any of you able to live comfortably on $24,000 per year?

[VM1138]

That will put you above the median income in a number of cities and places but I wouldn't say "comfortable." Where are you looking?

[zthatzmanz28]

Originally Posted by Juventas

Are any of you able to live comfortably on $24,000 per year?

Really depends on what comfort means to you...average rent is $700--$1000 per month, not including electric but sometimes includes heat and almost always includes water.

Roommate? Own a car? how far will you commute?

[highlanderfil]

Large step forward with this thread here. You're finally asking the right questions in the right place.

As I've said in your other thread and as others have echoed here, comfort is largely subjective. $24,000/year for a single person in Michigan means you're clearing a little more than $1,500 per month after taxes and other deductions are factored in.

Your profile zip code suggests you're living in Dearborn now. Assuming you want to stay in SE MI, you can conceivably find an apartment in an OK neighborhood (Dearborn Heights, maybe even Livonia) for $500-$700/month, assuming you aren't terribly picky. You will need to figure out how much you need to spend each month on the following:

- Utilities. Don't assume your apartment will come with any freebies. Even if you get things like heat and water free, electricity can still run anywhere from $50 to $200/month, depending on how efficient your appliances are and how much you use them. Figure at least $100/month.

- Phone. You've said elsewhere that you can get a phone plan for $60/month. You could probably do even better than that, to be honest. T-Mobile has a $30/month plan, iirc.

- Internet. At least $35/month, but could be as high as $70, depending on where you live.

- Anything to do with your vehicle. Gas, insurance (which, as I remember, you said was $210/month), any kind of maintenance. AAA estimates average overall cost of ownership for a small sedan to be around $500/month. Depending on how reliable your car is, you may not need that much, but I would still figure at least $350.

- Groceries and household supplies. You've mentioned needing $200/month, but I'd say $300 (as that site I referenced above mentions) is probably more realistic.

- Anything medical-related. Co-pays for office visits, medical insurance, medicine itself. You've mentioned before that you don't pay any of those, which leads me to believe that you're either somehow covered by the best medical insurance plan in the world at your $24K/year job (unlikely) or you're under your parents' plan. Check with the insurance company, as your coverage could stop when you move out. Not saying it necessarily will, but insurance companies can be very nitpicky.

- Any kind of unsystematic spending an average thirtysomething would expect to be able to afford: clothes, entertainment, even an occasional Taco Bell night. Even if you're extremely frugal, I'd figure at least $50/month.

- Money put away for a rainy day. What happens if your car blows a tire? Your computer dies? You fall down and hurt yourself and can't go to work for a few days? At least $100/month should go into your "oh, s$#*" fund.

Unless I've left out anything major, we've pretty much exhausted the $1,500 by the categories above. If you are super disciplined with your budgeting, $24K/year can go a long way in Michigan, but I wouldn't call it "comfortable". "Getting by" is going to be more like it. You should be able to just squeak by without going into debt or going on public assistance programs at that level, but you will not have much by way of discretionary income to spend on things like traveling (for which, again, you seem to have a fondness).

[Arthur Digby Sellers]

I made $25K in my first real job 15 years ago. That was pretty tight back then, and I cannot imagine living on that today.

[Juventas]

Would you like to call the company yourself and ask if having a account with them help builds credit? If they offer me a line of credit with them. Then yes that would help me build my credit if I make the payments on time. Why would they lie if this wasn't the case? I wasn't even interested in the magazine company but it was something that my mother mentioned. Though I'm not really sure this is even relevant now being as though I do have a credit card and am now building my credit. But of course I'm not surprised that you would bring this up because that's just your nature. You know to never really have anything positive to say about a situation? Most people aren't keen about sending people money they are selfish which is something that is wrong with this world. As I mentioned before I do like helping others if I can regardless if I am a millionaire or if I make peanuts as you say. And if being a caring individual makes me weird than so be it. I try to put myself in another persons shoes if it were me and I needed help. I would want someone to help me if they could. In life you will be blessed for helping other people regards of what you have. But these are the small things that you fail to see. All you do is insult and belittle people I think you have issues with your own life. Which is why you are such a negative person. The only reason why you come on this forum is to entertain yourself badmouthing and insulting others is your way of making yourself feel good. I've lost count at the number of times you have insulted me then you pretend to help only to insult and belittle me all over again. I don't understand why you even bother why do you continue to comment on my threads? Oh because you find me entertaining why don't you find another means of entertainment and leave me alone. I think you are sarcastic, narcissistic, self absorbed, arrogant and ignorant. Notice how I didn't forget the commas. Honestly I think you are the type of person who enjoys seeing people struggle. I don't think you want people to be successful that's how nasty you are. That's the vibe I get from reading your comments.

You think I'm weird and crazy yet you continue to follow and comment on my threads and I mean every single one of my threads. Is there something wrong with you the fact that you closed my other thread. Only to come and comment on another one of my threads after insulting me (as usual) proves that YOU have some mental issues.

Originally Posted by highlanderfil

Large step forward with this thread here. You're finally asking the right questions in the right place.

As I've said in your other thread and as others have echoed here, comfort is largely subjective. $24,000/year for a single person in Michigan means you're clearing a little more than $1,500 per month after taxes and other deductions are factored in.

Your profile zip code suggests you're living in Dearborn now. Assuming you want to stay in SE MI, you can conceivably find an apartment in an OK neighborhood (Dearborn Heights, maybe even Livonia) for $500-$700/month, assuming you aren't terribly picky. You will need to figure out how much you need to spend each month on the following:

- Utilities. Don't assume your apartment will come with any freebies. Even if you get things like heat and water free, electricity can still run anywhere from $50 to $200/month, depending on how efficient your appliances are and how much you use them. Figure at least $100/month.

- Phone. You've said elsewhere that you can get a phone plan for $60/month. You could probably do even better than that, to be honest. T-Mobile has a $30/month plan, iirc.

- Internet. At least $35/month, but could be as high as $70, depending on where you live.

- Anything to do with your vehicle. Gas, insurance (which, as I remember, you said was $210/month), any kind of maintenance. AAA estimates average overall cost of ownership for a small sedan to be around $500/month. Depending on how reliable your car is, you may not need that much, but I would still figure at least $350.

- Groceries and household supplies. You've mentioned needing $200/month, but I'd say $300 (as that site I referenced above mentions) is probably more realistic.

- Anything medical-related. Co-pays for office visits, medical insurance, medicine itself. You've mentioned before that you don't pay any of those, which leads me to believe that you're either somehow covered by the best medical insurance plan in the world at your $24K/year job (unlikely) or you're under your parents' plan. Check with the insurance company, as your coverage could stop when you move out. Not saying it necessarily will, but insurance companies can be very nitpicky.

- Any kind of unsystematic spending an average thirtysomething would expect to be able to afford: clothes, entertainment, even an occasional Taco Bell night. Even if you're extremely frugal, I'd figure at least $50/month.

- Money put away for a rainy day. What happens if your car blows a tire? Your computer dies? You fall down and hurt yourself and can't go to work for a few days? At least $100/month should go into your "oh, s$#*" fund.

Unless I've left out anything major, we've pretty much exhausted the $1,500 by the categories above. If you are super disciplined with your budgeting, $24K/year can go a long way in Michigan, but I wouldn't call it "comfortable". "Getting by" is going to be more like it. You should be able to just squeak by without going into debt or going on public assistance programs at that level, but you will not have much by way of discretionary income to spend on things like traveling (for which, again, you seem to have a fondness).

[Juventas]

Yes an SUV but it's paid off I don't have to make any payments. And I won't have to pay that much for car insurance either it's about $267 per month for full coverage. I know sometimes the utilities are also included. I don't know how I feel about having a roommate really I do like to have my privacy yet I wouldn't want to live alone.

Originally Posted by zthatzmanz28

Really depends on what comfort means to you...average rent is $700--$1000 per month, not including electric but sometimes includes heat and almost always includes water.

Roommate? Own a car? how far will you commute?