Salary Question (Phoenix, Gilbert: apartments, to rent, car insurance)

[apr910]

Can you survive in Phoenix, Chanlder, Gilbert area with $100k per year salary?

I'm trying to get a general idea before finishing up job interviews, etc.

Opinions?

[Nice Nice Baby!]

Easily. I have a new large house, new car, hobbies, and go out for fun and I make less than $100k. You'll have plenty of cash to invest too, if you aren't in much debt. This answer depends on your current expenses and spending habits.

[sablebaby]

Definitely! I think $100k is a great salary to actually "live" on. I think for a couple anything around $70+ is doable and still have money for fun (depending on your debt). If you have kids, that I don't know!

[apr910]

Thank you Nice.

Yeah, it's kind of a weird question because it depends on your personal habits, lifestyle, etc.

We have no debt. Maybe about a thousand in credit card bills but that's it. All cars are paid for, etc.

We have kids and they cost A LOT though!

[aj661]

Originally Posted by apr910

Can you survive in Phoenix, Chanlder, Gilbert area with $100k per year salary?

I'm trying to get a general idea before finishing up job interviews, etc.

Opinions?

There are so many variables related to lifestyle and discretionary spending habits I can't really answer except to say that you should not only be able to survive, you could be very comfortable.

You can do some homework on your own to help you answer the question. Add up the expenses you are bringing with you: car payments and insurance, groceries, etc. Insurance will probably be higher here depending on where you are coming from, but your agent may be able to help you with that.

If you plan on buying a home, there are many mortgage calculators available on line. If you plan to rent, check the classifieds and websites for apartments and homes. If you have to pay utilities, again it can vary greatly, but as an example I live in a 1700+sq ft single level and electric averages under $225/mo for me. Water and garbage costs $70+/mo, but I have a pool which accounts for about $5-10 of that.

Something to consider also that has saved us a fortune is banking at a credit union. We have financed three cars through Desert Schools at 5%. If you have direct deposit and auto pay, they knock a .25% off that. Rates have gone up a little but they are still well below market average. They have better deals on all types of loans.

Kids? Yea, they get kinda pricey. I cover car insurance on five vehicles and pay for four cell phones. We now "only" make about 80k/yr since injuries forced me to retire and even with the above expenses (and more) we still manage to put several hundred into savings every month. If we can do it...

[apr910]

Originally Posted by aj661

There are so many variables related to lifestyle and discretionary spending habits I can't really answer except to say that you should not only be able to survive, you could be very comfortable.

You can do some homework on your own to help you answer the question. Add up the expenses you are bringing with you: car payments and insurance, groceries, etc. Insurance will probably be higher here depending on where you are coming from, but your agent may be able to help you with that.

If you plan on buying a home, there are many mortgage calculators available on line. If you plan to rent, check the classifieds and websites for apartments and homes. If you have to pay utilities, again it can vary greatly, but as an example I live in a 1700+sq ft single level and electric averages under $225/mo for me. Water and garbage costs $70+/mo, but I have a pool which accounts for about $5-10 of that.

Something to consider also that has saved us a fortune is banking at a credit union. We have financed three cars through Desert Schools at 5%. If you have direct deposit and auto pay, they knock a .25% off that. Rates have gone up a little but they are still well below market average. They have better deals on all types of loans.

Kids? Yea, they get kinda pricey. I cover car insurance on five vehicles and pay for four cell phones. We now "only" make about 80k/yr since injuries forced me to retire and even with the above expenses (and more) we still manage to put several hundred into savings every month. If we can do it...

Thank you for the honest feedback. It really helps!

[sheena]

Originally Posted by apr910

Can you survive in Phoenix, Chanlder, Gilbert area with $100k per year salary?

I'm trying to get a general idea before finishing up job interviews, etc.

Opinions?

Pretty nice if you live within your means.

[63ragtop]

$100K total family income?

I would say yes. When I moved to Phoenix our family income was about $70K/year. We bought a house with an approx. $1000/month payment (may not be possible now but you can adjust) and still had plenty left over for the 401K, savings account, going out to dinner/movies, road trip and other small vacations, and misc. expenses. We also spent $5k/year on our house repairing stuff for the first few years.

We had no car payments and very little credit card debt. No children though, that could make a big difference.

[exlexisnexis]

!00k in arizona ,tell me where is it are they hiring,you can live like a king with that amount

[brittZ]

The answer depends totally on your debt. If you have to put out more each month than you bring it, it really doesnt matter what the numbers are, you cant afford what you are doing. If you bring in more than you put out, then yes you can afford what you are doing. If you are wanting to live a comfortable life in AZ and are not burdened with debt then 100K is more than enough.