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What if they had no family to support and no student loans to pay off and no cc debt.
Ugh. Not this again (and last time you asked it was about 63K not 50K). No one can answer this question except you. Only you have any information on what it costs you to live where you live and how you want to live. Asking strangers on the internet won't help. If you can't figure it out for yourself sit down with a financially savvy relative or friend who can help you.
Absolutely. If I could still walk to work and keep it in the 40 hour weekly range, I would be living like a king. Might even be able to get good seats for a concert every once in awhile, and take a date.
My goodness! I am thousands in debt and if i made 50k a year I could pay everything off and travel the country. Summers in Wyomong hanging out wit wranglers!
IF you know how to REALLY save, yes. you'ld be clearing nearly 35k a year, and saving 20k a year. But almost nobody in the US knows how to do anything of the kind. :-) Nearly everybody is STUPID, just ASSUMING that they will always make good money, their expenses won't go up, so its ok to BLOW it all, every month, on ridiculous car, housing, etc, etc, etc.
It all depends on location, but we make less than 50k and that is for 2 people. Me and my GF. Of course it is 2 people making 48k instead of 1 person making 50k so we don't get taxed as much, but still.
We have about $500-600 of complete discretionary per month on average. Discretionary meaning after all bills are paid we have that extra. So of course we don't just sit at home all month and spend some of it. We usually save around $300 on a good month. We don't waste the rest, but we do buy things we need. Thermostat, pantry cabinet, etc.
I don't think we live "poor" either or have given up much. We have a just over 1000sqf 2 bedroom townhouse with washer and dryer in the apartment. Pretty safe neighborhood. Were signing our lease again for the third year. With no raises in rent any year. It is $729 which incudes the $20 pet fee per month.
We go out every week and spend money. We love to go to restaraunts...it is our thing.
This is Ohio.
So yes....if in Ohio and not living in the "big city" (Columbus) 50k should be plenty for a single person.
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