$60K Salary Breakdown for Southeast USA (pay, rent, taxes, income)

[courtneyleighf]

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!

[Serious Conversation]

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.

[courtneyleighf]

Thanks so much for your help!

[mizzourah2006]

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.

[courtneyleighf]

Hi Mizzourah:

Two questions: Is this a monthly breakdown? Also, can you let me know where you're located?

[mizzourah2006]

Originally Posted by courtneyleighf

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.

[courtneyleighf]

Thanks so much!

[chellemi808]

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

[courtneyleighf]

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.

[courtneyleighf]

Thanks so much! WOuld you be willing to share your age, city + profession?