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Old 03-06-2011, 10:00 AM
 
1,122 posts, read 669,906 times
Reputation: 1255

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Quote:
Originally Posted by chinamen View Post
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.
You don't know how good you have it right now. I have a college degree and make $13,000 a year, live paycheck to paycheck, can't save a dime, and have to pay for rather crappy health insurance. I should mention I am stuck living with parents and they have talked about kicking me out so I may end up living out of my car.

I would kill for a job that pays $36,000-$37,000 per year and offered health benefits. I would just die to be in your shoes right now. Wanna trade places?
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Old 03-06-2011, 10:14 AM
 
2,000 posts, read 2,701,181 times
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In my area that is a pretty good wage. I have a friend who makes about that and bought himself a new condo (1 bedroom, approx 800-900 sq ft). He is single and bought the place on his own.
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Old 03-06-2011, 10:27 AM
 
42,284 posts, read 46,085,939 times
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For one person it is lower miidle classs especailly if it has benefits that have to be figured in.As to where you fall in society has a whole that can depedn on just where you live and the cost to live a certai lifstyle there.
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Old 03-06-2011, 10:42 AM
 
229 posts, read 430,822 times
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You're definitely not poor, and I'd say you're doing pretty good if you are able to save money every month. You're doing the right thing by having the roommate. Years ago I made less than you, but had to have my own place. I was broke all of the time.
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Old 03-06-2011, 10:59 AM
 
6,245 posts, read 5,607,972 times
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Quote:
Originally Posted by NorthsideJacksonville View Post
In Jacksonville and most major metros in the South, that's considered middle-class but anywhere else, forget it. A home on that salary will net you in the ghetto mostly everywhere else.
Yep, all depends on where you live.

The big thing you got is medical and good group coverage for a family is worth $10,000 per year easy.

I went to Paycheck Calculator and assuming you lived and worked in Thomasville, Geogria your take home pay (based on $18.00/hr or $36,000/year) would be $547.06

Gross Pay: $720.00
Federal Income Tax: Withheld: $95.40
Social Security Tax: $30.24
Medicare Tax: $10.44
State Income Tax Withheld: $36.86
Total Deductions: $172.94
Take Home Pay: $547.06 ($2,368.77 per month based on 4.33 weeks per month)

The maximum home mortgage you should go for is payments of $781.69 which represents one third of your take home pay. I feel one third is to high and would personally feel better @ $600.00.

Based on a 6% mortgage (high) you would be able to qualify for a $83,000 mortgage which would pin your payments right at $600.00 per month for 20 years.

Assuming a 10% down you could purchase a house for $90,000 comfortably enough.

In Thomasville you can purchase a livable house for $90,000 and many do. Down here property taxes will run you about $100/month and then you got insurance on top of that. Livable but not luxerious; not in a great neighborhood but not an awful one either. Thomasville is the capital of Flyover country but it is only 15 minutes from Florida, 45 minutes north of Tallahassee, an hour and a half from the beach with property taxes less than a third of what they are in Florida.

People here raise families on $36,000 and while it isn't living large it isn't abject poverty either. By the time you paid the property taxes, insurance and all basic utilities (mine average $200/month which includes garbage pickup and we do keep the house very comfortable... air is a requirement in the summer) you will have $1,400/month for other things. If you watch it a small family where the wife is a stay at home mom could live comfortably enough.

On $75k you can live real well and being in California you would not believe the house you can buy for $200k.
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Old 03-06-2011, 11:06 AM
 
Location: Austin, TX
13,723 posts, read 3,953,576 times
Reputation: 12373
How you manage your money and your spending habits will determine your class status.

Living within your means, budgeting, and saving = Middle Class

No budgeting, not paying attention to spending, impulse buying habits = Poor


Quote:
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's what's going to matter. Over the years, your income will go up. That combined with discipline, you'll be okay.
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Old 03-06-2011, 11:07 AM
FBJ
 
Location: Tall Building down by the river
34,345 posts, read 23,700,555 times
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You can't afford a car and an apartment with that salary in Philadelphia
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Old 03-06-2011, 11:13 AM
 
Location: Austin, TX
13,723 posts, read 3,953,576 times
Reputation: 12373
Quote:
Originally Posted by TVandSportsGuy View Post
You can't afford a car and an apartment with that salary in Philadelphia
Uhh... Did you not read the OP?? He is getting by and spending less than he makes.

Maybe he doesn't live in Philly.
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Old 03-06-2011, 12:12 PM
FBJ
 
Location: Tall Building down by the river
34,345 posts, read 23,700,555 times
Reputation: 7673
Quote:
Originally Posted by MoNative34 View Post
Uhh... Did you not read the OP?? He is getting by and spending less than he makes.

Maybe he doesn't live in Philly.


Well that's good because it would not be enough-lol
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Old 03-06-2011, 12:15 PM
 
Location: NY
792 posts, read 1,630,563 times
Reputation: 485
For us-it would be rich at this point. We've paid off our house, have no credit cards, no car payments. We'd be fine with that-and yes, we DO live in a expensive area of Southern Dutchess-in the Hudson Valley. Right now-we are living like others-on my $10hr. For a family of 5. We'd be living good again making 37K. It's pathetic that neither of us can find jobs that even pay $20k. Why is that even an unreasonable number-I don't know.

If you are able to pay your bills and put some aside to build up, I think your doing pretty good these days.
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