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I don't see how anybody can live on that amount of money. I make almost twice that amount and I just barely get by. After I pay my bills, buy food and gas, I might have 20$ to last until payday. It really does take two incomes to make a decent living and be able to do the fun things you like to do when you're not working.
You are not very good with your money. In most of America a couple who both make $27K a year can live a very nice comfortable lifestyle. Assuming 20% of that amount is taken in State and Federal Taxes that still leaves the couple $43,000 a year, or $3600 a month, to pay for things. Rent $1200 a month, Food $700 a month, Utilities $300 a month, and Health Insurance $600. That leaves them $800 a month for everything else. That is plenty for a comfortable lifestyle in most of America!
Last edited by I'm Retired Now; 06-09-2014 at 06:06 AM..
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
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Quote:
Originally Posted by qwertyasdf
I don't see how anybody can live on that amount of money. I make almost twice that amount and I just barely get by. After I pay my bills, buy food and gas, I might have 20$ to last until payday. It really does take two incomes to make a decent living and be able to do the fun things you like to do when you're not working.
Agree. I earn more than twice that and just get along. I live in a old / no thrills apartment and with utilities (electric, gas, cell, internet) rent is over 40% of my take home during a good chunk of the year.
I don't see how anybody can live on that amount of money. I make almost twice that amount and I just barely get by. After I pay my bills, buy food and gas, I might have 20$ to last until payday. It really does take two incomes to make a decent living and be able to do the fun things you like to do when you're not working.
Not only can you do it. You can raise multiple kids on it.
I know people who do that. And the biggest discrepancies are...
-They live in low income areas. Most people are not willing to live either in areas that are 'ethnically diverse' or 'boring' even though they may be perfectly fine to live in. You'd be shocked at how much the rent is in lower income areas. Sharing an apartment will also accomplish the same thing if you are single.
-Going out. Going out is the #1 biggest thing that eats up your income between 'necessities' and 'barely getting by'. You cannot go out and drop 2-300 dollars on Saturday night drinking and clubbing, or dinner and shows.
-Clothes. You can't buy that much new clothes and no designer name brands. Kmart, Salvation Army and hand-me downs. I just spent $160 on two pairs of shoes this weekend and I thought I was getting a great deal. Some people spend that on clothes in a year.
You are not very good with your money. In most of America a couple who both make $27K a year can live a very nice comfortable lifestyle. Assuming 20% of that amount is taken in State and Federal Taxes that still leaves the couple $43,000 a year, or $3600 a month, to pay for things. Rent $1200 a month, Food $700 a month, Utilities $300 a month, and Health Insurance $600. That leaves them $800 a month for everything else. That is plenty for a comfortable lifestyle in most of America!
No couple is getting rich on $54k, anywhere in the country. You can survive, and perhaps have a few extras if you're otherwise very frugal, but you can forget the new cars, many dinners out, vacations, etc. Not happening on that income.
No couple is getting rich on $54k, anywhere in the country. You can survive, and perhaps have a few extras if you're otherwise very frugal, but you can forget the new cars, many dinners out, vacations, etc. Not happening on that income.
Also if one of you get sick like gets cancer you might end up homeless. Where i live if you are not making 60k take as a single person you not doing much on your time off . One would be lucky to take a vacation or save for retirement . I do not want to be 70 years old and have to work or i be homeless.
Last edited by krieger00; 06-09-2014 at 07:54 AM..
You are not very good with your money. In most of America a couple who both make $27K a year can live a very nice comfortable lifestyle. Assuming 20% of that amount is taken in State and Federal Taxes that still leaves the couple $43,000 a year, or $3600 a month, to pay for things. Rent $1200 a month, Food $700 a month, Utilities $300 a month, and Health Insurance $600. That leaves them $800 a month for everything else. That is plenty for a comfortable lifestyle in most of America!
What about car insurance and gas that can be 350/400 bucks right there .
No couple is getting rich on $54k, anywhere in the country. You can survive, and perhaps have a few extras if you're otherwise very frugal, but you can forget the new cars, many dinners out, vacations, etc. Not happening on that income.
It would not give you a fancy lifestyle but in most of the country you can put a nice roof over your head, eat well and have a few extras that for most of the world's people would be a dream.
It would not give you a fancy lifestyle but in most of the country you can put a nice roof over your head, eat well and have a few extras that for most of the world's people would be a dream.
It can in places, but those low cost places are not usually where the jobs are. In my hometown, you could probably get by on that, but good luck finding a job that pays more than $12/hr.
It depends on where you live as far as car insurance.
In suburban areas for example, no-fault insurance will cost you maybe $100-$200 per month.
Meanwhile, here in Detroit, car insurance will easily run you about $500 per month.
true but gas is going to coast you 100 a month or more that is just a fact
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Where i live if you are not making 60k take as a single person you not doing much on your time off . One would be lucky to take a vacation or save for retirement . I do not want to be 70 years old and have to work or i be homeless.
