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In 2008 the median income for a household in the city was $48,596 and the median income for a family was $55,949. Males had a median income of $46,383 versus $44,690 for females.
I would definitely consider $36k a year to be above poor, since you are able to save some money each month. Not sure if it hits middle class though, since I'm pretty sure the cost of living in Oakland is high compared to most of the country.
True. $37k, $38k would be a nice living salary in many areas of the country, but cost of living really dictates what median salaries are in most cities. When I see Exec Admin jobs in NYC, LA and even ATL in the $70's and $80's, it makes me want to move there, but then I realize the cost of living there is way more than where I live now, so I wouldn't be doing myself any favors!
I only make $36.000-$37,000 a year. It has health benefits also. I kind of feel sad because I do not make a lot of money. I have a college degree, bachelors but could not find a job with it so I went to trade school for a year in a half to learn a trade.
What do you think? I have a roomate so rent does not cost that much and every month I am saving some money, not a lot but it is some. I watch how I spend my money carefully.
That is dirt poor. The benefits from the government for doing nothing total more than $45K.
that would be very poor for me. I'm 23 and I make about 5-8,000 dollars a month working in sales. I couldn't imagine on living on much less than that (but then again I have a brand new car, am getting a house, enjoy eating food like steaks, enjoy going out, etc...)
I think you need to make about 50-60K to live reasonably well in most areas and 70-80K to live comfortably
I still think its all relative. And location matters more than anything. I was watching house hunters last night ( I know, on New Years Eve ), and one couple was looking for a house in Orange County, Ca. Their budget was between 600,000 and 700,000 dollars in a decent neighborhood. Ridiculous what kind of house you get in OC for that kind of money. One of the houses they showed, looked like it had not been remodeled for 30 years. I don't know how people can afford to live over there. Is everybody rich? I know they are not..but considering what you get for 600k...what will 300k get you? Let alone, people who makes 50k a year, how do they even survive in Socal unless they want to live in the ghetto?
As far as the OP goes, 37k in most places is ok. As long as you are not buried in debt.
Last edited by glass_of_merlot; 01-01-2013 at 09:17 AM..
That is dirt poor. The benefits from the government for doing nothing total more than $45K.
Depends on where you live. I'm 27 and I bring in $38k. I own my house, my truck, 3 acres of land with 2 horses, take me and my father out to eat at least once a week for seafood or steaks and I put money away in savings each week.
I have $400.00 on my CC and that's all the debt I have.
Wow... this question has been discussed for over a year now, I see (looked back at the original post). Crazy.... but I'm going to add my comment anyway because it's something I've been thinking a lot about lately myself.
By far, the biggest factor, I think, is whether or not you've got a family with kids. Like pentatonic said above, $38K would be a perfectly good salary in many parts of the country for a younger, single guy who doesn't make the mistake of borrowing too much in loans or on credit cards.
But wow .... Once you've got kids, it's amazing how much more money it takes to keep things together. I'm in my early 40's and have a family of 5 (wife and 3 kids). My wife works full time, usually making in the neighborhood of $45K/year depending on the job, and I'm generally earning slightly more. But honestly, I lived better as a single guy on about $38K than I do today.
It's not even the things everyone warns you about that wind up getting you. (By that, I mean everyone warned me how much it was going to cost for clothes, school supplies, etc. etc.) That all factors in but that's the stuff you always think, "Eh... I'll find a way to afford it." when you first have kids.
But no... at least for us, it's everything else. Say you want to go out for dinner on a Friday or Sat. night? When it was just you and your significant other, you could go to your typical sit-down restaurant of choice and probably spend $15 or so each for an entre, and add a few bucks each for drinks ... So even after the tip and if you got an appetizer to share, you might be around the $50 range. Well, add 3 kids, at least one of whom inevitably refuses to eat anything on the "kid's menu" ... and all of a sudden, you're looking at more like $80 before the tip!
Take them shopping whether you're at the drug store to grab a prescription or at Target for some new pairs of socks? Yeah, you're not getting out of that without spending at least another unplanned $30-60 on *something* they remind you they need or they're out of. Same with the grocery shopping -- on TOP of all the extra money you're already spending to feed the whole group. The kids are going to find 10 more items they want to take for school lunches or whatever.
Actually want a peaceful evening alone? Now you're really out some money for babysitting (whatever the hourly rate is x3 or so for all 3 kids at once), plus whatever you were going to spend on whatever you're going out to actually do.
I only make $36.000-$37,000 a year. It has health benefits also. I kind of feel sad because I do not make a lot of money. I have a college degree, bachelors but could not find a job with it so I went to trade school for a year in a half to learn a trade.
What do you think? I have a roomate so rent does not cost that much and every month I am saving some money, not a lot but it is some. I watch how I spend my money carefully.
In Oakland, CA? No.
In Atlanta, GA? Possibly.
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