U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 08-22-2017, 12:07 PM
 
6 posts, read 6,537 times
Reputation: 15

Advertisements

Hi There:

I'm doing some research on how people in the Southeast spend their $60K salary. Would anyone be willing to share their budget breakdown here? I'd also love to know what industry you work in. Something like this would be super helpful:

$1200/ mortgage payment -- $700 Apartment Rent
$400/ student loans
$400/ car payment -- $250 car payment
$200/ cell phone/internet/television $250
$500/ food $400
$300/ fuel $200
$200/ house/health/car insurance
$300/ savings
$200/ miscellaneous expenses
$300/ HOA/utilities

If you can get detailed on what you're splurging on, that would be helpful too (i.e. eating out, uber, etc)

Thanks for your help!
Quick reply to this message

 
Old 08-22-2017, 01:53 PM
 
Location: Johnson City, TN
16,968 posts, read 11,809,392 times
Reputation: 18271
I don't know where you get these numbers. That's way too much net pay for $60,000.

I make $60,000 in a small town in northeast TN. After a 6% 401k contribution, insurance, and $40 pp/HSA deduction, I net a little over $3,200 per month. We have no state or local income taxes here. This month is way out of whack budget wise for me because the main fridge isn't working (should be replaced this week) and I'm having to eat out more.

The $1,200 mortgage payment would be about the highest I'd feel comfortable with on my current salary. $700 will get you a dated 2BR apartment, a new 1BR apartment in some complexes. You will probably pay about 50% more to rent the same dwelling as a PITI payment

For one person, water/sewer is going to be about $40-$50 in an apartment/condo. Power will be around $100. My parents are on my cell plan - we have a $150/month plan split three ways, so $50/month. Gym is $50/month.

I have $517/month in a personal loan I'm trying to clear out. No other monthly debt.

Food is about $400/month if I eat in. Food is expensive here.
Quick reply to this message
 
Old 08-22-2017, 01:56 PM
 
6 posts, read 6,537 times
Reputation: 15
Thanks so much for your help!
Quick reply to this message
 
Old 08-22-2017, 02:03 PM
 
4,154 posts, read 3,927,601 times
Reputation: 3028
I live in the South/Midwest more than the Southeast and we make more than $60k, but spend about that much per year. Here has been our breakdown through the first 6 months.

Mortgage: $1,050
Utilities: $195
Cable/Internet: $178
Cell Phone: $50
Grocery store Items: $340
Restaurants: $100
Car Related (Insurance/Payments, oil changes, gas, etc.): $550
Childcare: $764
Entertainment: $160
Insurance: $205
Home Related Expenses: $165
Vacation/Travel: $215
Other (Includes diapers, his/her blow money, lawn care, personal property taxes, as well as a few expensive one time things, like new bedroom furniture, 2 new cell phones, etc.): $900

Total Average expenses per month: ~$4,870.
Quick reply to this message
 
Old 08-22-2017, 02:05 PM
 
6 posts, read 6,537 times
Reputation: 15
Hi Mizzourah:

Two questions: Is this a monthly breakdown? Also, can you let me know where you're located?
Quick reply to this message
 
Old 08-22-2017, 02:08 PM
 
4,154 posts, read 3,927,601 times
Reputation: 3028
Quote:
Originally Posted by courtneyleighf View Post
Hi Mizzourah:

Two questions: Is this a monthly breakdown? Also, can you let me know where you're located?
Yes, it is monthly breakdown for 2 adults and a 1.5 year old. We are located in the Fayetteville, AR area.
Quick reply to this message
 
Old 08-22-2017, 02:10 PM
 
6 posts, read 6,537 times
Reputation: 15
Thanks so much!
Quick reply to this message
 
Old 08-23-2017, 02:26 PM
 
Location: Cary, NC
626 posts, read 1,326,326 times
Reputation: 1013
I live in North Carolina and my salary is $54,442. I hope that is close enough for you to find my information valuable.

For one grown-up and one young adult:

Gross pay: $2,970 (after taxes, health insurance premium and $150/m HSA)
Rent: $924 (two bedroom apartment)
Electric: $57
Water: $65 (!!)
Internet: $55
Netflix/Hulu/Etc.: $22
Cell phones (both of us combined): $70
Car insurance (just me, one car, liability only): $36
Gas for car: $80
Groceries: $300
Eating out: $100
Cats: $80
Vacation: $100
Gifts: $100
Clothing: $50
Toiletries, household items: $50

Leftover for saving: $881
Quick reply to this message
 
Old 08-24-2017, 12:50 PM
 
6 posts, read 6,537 times
Reputation: 15
Chelemmi: Thanks so much! Would you be willing to share your first name , job + city?

Mazerrah: Would you be willing to share the above information as well? Also was hoping you could speaking to any savings you may have on a monthly basis (401k, etc.)

Thanks so much—this is incredibly helpful.

Last edited by courtneyleighf; 08-24-2017 at 01:09 PM..
Quick reply to this message
 
Old 08-24-2017, 12:51 PM
 
6 posts, read 6,537 times
Reputation: 15
Thanks so much! WOuld you be willing to share your age, city + profession?
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top