$40K and Chicago? (Joliet, Lincoln, Hamilton: apartment, rent, day care)

[mlogan0301]

Hello Everyone,

Can you survive on $40K a year in Chicago? I apologize if this has been answered somewhere else. I did search in the threads and postings but did not find an answer to the question.

I am open to both the Northside and Southside of Chicago, but I think more interested in the Soutside of Chicago. Can I live comfortably with my daughter (she is in 2nd grade, so I would only need before/aftercare, not daycare) for that salary per year starting off? Or would I need to get a 2nd job?

Also, the job I am interviewing for, is on S. Hamilton Avenue, so would the commute from the southside kill me? I am open to public transportation, but I also have a car, if I need to use it.

Thanks

[lincolnparker]

yes, and yes

[mlogan0301]

Lincolnpaker,
I asked more than one question. LOL! Which ones are you answering? If you don't mind being more specific please.

[Lookout Kid]

I'm sure it can be done, but I don't know what kind of lifestyle you expect. You'll have to make a budget to figure out how much you can spend on rent and child care. Child care is really expensive in the city. I've been seeing $11-13 an hour for an immigrant nanny, but you might be able to find a part-time day care situation. My suggestion is to get on waiting lists right away, even if you're not sure about the move. It can take several months to get a spot.

[mlogan0301]

Ok, thank you. I will look into that, and perhaps may luck up and find a school that offers before and aftercare.

[long101]

i think it will all depend on the hours you work and current expenses for yourself and your daughter. It could obviously be done but Im sure it would be tough. Personally Ill make around 55k this year and semi support my girlfriend sent she is in med school and Im looking for a 2nd job. That being said I do spend alot more money then I "have" to

[MannheimMadman]

It really boils down to lifestyle. My buddy works with a bunch of people who make less than 30K and are living in Chicago- albeit with more room-mates and more scrutinized fiscal policies.

[Ron.]

Hello Everyone,

Can you survive on $40K a year in Chicago?

Yes. Many people live on less than that and do just fine. Now of course, anything less with a child means you may not have money left over at the end of the month but you can always retool yourself with additional education and experience so you can increase your income.


I am open to both the Northside and Southside of Chicago, but I think more interested in the Soutside of Chicago. Can I live comfortably with my daughter (she is in 2nd grade, so I would only need before/aftercare, not daycare) for that salary per year starting off?

It depends on where you live on the southside. You can find a very affordable place on the southside and take of yourself and child but you may not be living in a desirable area. Since you you want to live on the S.S. I would highly recommend Hyde Park as your new "stomping ground".

You'll be in good company and it won't be such a huge shock to you and your daughter as the 2 of you get settled in. But to answer your question, Yes you can live on that income on the S.S. w/daycare. The same applies to the Northside.

If you want to find a good apartment deal check out Craigslist.org/chicago and chicagoreader.com.



Or would I need to get a 2nd job?

You should be fine with 1 job. Just manage your money properly until you get a nice bank account at least $2k to $3k saved up. That will give you some breathing room in the event of an emergency.


Also, the job I am interviewing for, is on S. Hamilton Avenue, so would the commute from the southside kill me?

S. Hamilton is a South side street, so from that perspective, no it will not "kill you" since you already mentioned you would like to live on the S.S. In that case, you'll already be on the same side of town. That's half the battle.

If you move to the North side, it may not kill you, but you may grow tired of the commute. And at times the CTA will vex your nerves. Either way, you'll be fine.

Just take into count you have a young child and she needs ample time to get ready for school and you need ample time to spend with her. Don't spend valuable time commuting if you can avoid it.

I am open to public transportation, but I also have a car, if I need to use it.

You should be just fine with both modes, especially living on the S.S.. I think a car is more practical on the S.S. more so than the N.S. But if you move to Hype Park, finding a place to park may or may not be a problem.



Thanks

You're welcome.

cr

[mlogan0301]

Thanks Ron,
You were the most helpful by far. No slight towards anyone else of course, but your answers were very in-depth.

Most Appreciated! I am very excited about my possible move. Will be there this Thursday. My interview is on Friday. Wish me luck everyone!!

Will be back next week for a 2nd interview (different job in Joliet), so wish me luck for that too please!?!

Thanks

[mlogan0301]

Oh and Ron, I should have my Masters in about 16 months (Yeah), so hopefully that should increase my income when I graduate. In addition to gaining experience in my new field while I am obtaining my Masters Degree. Thank God for online programs!!

Thanks Again!!