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Not counting housing or transportation? Housing takes up between 30 and 50% of the take home pay for the average American.
As for the federal poverty rate, I would argue thats a joke. The poverty rate is significantly below living wage.
Complete and total joke. Anyone who believes in government numbers on practically anything to do with the economy or economics would be better off to travel to the North Pole and see if they can't get a dinner date with Mr. & Mrs. Claus and their elves.
I'll let you guys in on a little secret that I don't share very much.
For about a year after college, I made about half that much (less than 20k/year). I wasn't working full-time but I was averaging like 30ish hours a week.
I know by most of your standards I was 'poor'. But guess what: I never once felt 'poor'.
I didn't go out to eat every week, or wear expensive designer clothes (though I was and am constantly complimented on my dress). I drove a decently nice car (paid for, not leased). I live in a nice loft in downtown Richmond, VA (you can google to see how much those cost).
And at the end of that year I walked away with more in savings than the average American person (or family) has.
It's all relative. Calling $37,000 "working poor" is simply absurd in most cities and most situations, especially if you're single. Lower-middle-class perhaps. But certainly not "working poor." Sure you're not going to live the lifestyle of the rich and famous but trust me, you'll survive if you have any bit of financial sense.
Color me sceptical. Did you live on your own, self sufficiently, or did you have help?
Was it 20K gross or net? $20,000/12= $1,666.66 a month. That's $416.66 a week.
I guess it could be doable. But I guess you have no internet or T.V.?
What about:
Your Car: gas, car insurance, car repairs & maintenance, I assume the car is older and susceptible to repairs if your making 20K and it's paid off?
A year after college. You have no student loans?
Rent, utilities, food, health care, dental care, (eye care if you have corrective vision),cell phone, personal hygiene, social life, miscellaneous?
I'm not here to argue personal anecdotes since I can't know and it could be trolling but like I said color me sceptical.
Color me sceptical. Did you live on your own, self sufficiently, or did you have help?
Was it 20K gross or net? $20,000/12= $1,666.66 a month. That's $416.66 a week.
I guess it could be doable. But I guess you have no internet or T.V.?
What about:
Your Car: gas, car insurance, car repairs & maintenance, I assume the car is older and susceptible to repairs if your making 20K and it's paid off?
A year after college. You have no student loans?
Rent, utilities, food, health care, dental care, (eye care if you have corrective vision),cell phone, personal hygiene, social life, miscellaneous?
I'm not here to argue personal anecdotes since I can't know and it could be trolling but like I said color me sceptical.
I track my personal expenditures. As a single male, I could easily live on 20K. Debt free, car paid off, and don't have a TV, but I make no mistakes about the "wants" and "needs".
-Rent for a studio is not unreasonable around here if you shop around.
-College is not an entitlement or a necessity. No body forced anyone to sign on the dotted line.
-Utility bills can be managed.
Health care insurance can run $100/month for crappy coverage.
-Car insurance is dirt cheap if you don't have any tickets/accidents... Take it easy out there, it pays!
-Land lines are dirt cheap, cell phones are not a necessity.
-What's a bar of soap and a bottle of shampoo run? They sell bulk packs of TP around here for 5 bucks. A good razor with blades can last months.
-How about a day out at the park? If she's not willing to date on a reasonable budget, she's no good for you.
-Misc??? Name it and I'll tell you how you can either get by without, or cut the budget.
I find that many people who complain about not being able to live on less have an undeserved sense of self entitlement. You don't need every frill under the sun to be happy. I am far happier than most with far less. I certainly wouldn't be trading places...
I will say everything is getting more expensive, and it's going to put a lot more people in a pinch. The government can't keep trying to convince people inflation is running 2-3% annually... Eventually, they will catch on. Maybe when they can't afford the cable bill (mass distraction).
I track my personal expenditures. As a single male, I could easily live on 20K. Debt free, car paid off, and don't have a TV, but I make no mistakes about the "wants" and "needs".
I think a lot of the people that say a single person can't live on $36,000 are probably the ones that eat lunch and dinner at a restaurant every day, buy those $7 cups of coffee, buy $300 "Basketball" shoes when they never play any sports, etc..
The only item that has a large swing in price around the country is housing.
My house and car are paid off and I have no credit car debt, but I wouldn't be able to make it on $36,000 in my current home (and I don't eat out often, and don't even wear basketball shoes). It's the taxes in NJ that will eat up that $36,000 quick.
I think a lot of the people that say a single person can't live on $36,000 are probably the ones that eat lunch and dinner at a restaurant every day, buy those $7 cups of coffee, buy $300 "Basketball" shoes when they never play any sports, etc..
The only item that has a large swing in price around the country is housing.
Actually insurance of all types have wide swings as well. My car insurance went down $40 a year because I moved 10 miles.
I'll let you guys in on a little secret that I don't share very much.
For about a year after college, I made about half that much (less than 20k/year). I wasn't working full-time but I was averaging like 30ish hours a week.
I know by most of your standards I was 'poor'. But guess what: I never once felt 'poor'.
I didn't go out to eat every week, or wear expensive designer clothes (though I was and am constantly complimented on my dress). I drove a decently nice car (paid for, not leased). I live in a nice loft in downtown Richmond, VA (you can google to see how much those cost).
And at the end of that year I walked away with more in savings than the average American person (or family) has.
It's all relative. Calling $37,000 "working poor" is simply absurd in most cities and most situations, especially if you're single. Lower-middle-class perhaps. But certainly not "working poor." Sure you're not going to live the lifestyle of the rich and famous but trust me, you'll survive if you have any bit of financial sense.
This year, I grossed $50K. That was around $38,000 after taxes. I consider myself as one of the working poor, not middle class. But I do have closure knowing that I made this doing very little work playing on the internet like I am right now playing videogames and reading books and doing what I like having my own time. I am driving a cheap $2500 beater car that is 10 years old, but at least I don't have to go to the food bank to make ends meet.
Color me sceptical. Did you live on your own, self sufficiently, or did you have help?
Was it 20K gross or net? $20,000/12= $1,666.66 a month. That's $416.66 a week.
I guess it could be doable. But I guess you have no internet or T.V.?
What about:
Your Car: gas, car insurance, car repairs & maintenance, I assume the car is older and susceptible to repairs if your making 20K and it's paid off?
A year after college. You have no student loans?
Rent, utilities, food, health care, dental care, (eye care if you have corrective vision),cell phone, personal hygiene, social life, miscellaneous?
I'm not here to argue personal anecdotes since I can't know and it could be trolling but like I said color me sceptical.
Well, you can eat free food at the sikh temple, buy a 500 dollar beater and get tissue and toilet paper from mcdonalds and starbucks. Live out of your car, and not only save on rent, but collect a second paycheck getting paid while sleeping as a security guard in a small vacant building. You have to be savvy like sleeping in the handicapped washroom so your mobile supervisor has to call you and you come out at the wake of the phone. If you can handle a bit of austerity, you can save as much as someone who makes a hundred grand a year living normal.
My house and car are paid off and I have no credit car debt, but I wouldn't be able to make it on $36,000 in my current home (and I don't eat out often, and don't even wear basketball shoes). It's the taxes in NJ that will eat up that $36,000 quick.
We are talking 36,000 or 3000 a month AFTER taxes, meaning $50,000k gross. What I like to see single guys do is put away $650 biweekly as if paying
It's a good start. Sound like you are around 25y/o keep your head up it wil get better. When I was starting out 20 years ago I remember $35000 Per year seemed like a lot of money. Even back than it was just enough to keep a $550 a month apartment, halfway decent car, save a little money & still have a life. Expenses where at least 50% less than they were now.
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