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U.S. consumers face "serious" inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday.
That's old news. What he isn't saying is the truth - Fed devalues US Currency, High Inflation reigns, Price declines in computers have no relevance to the average American who drinks and eats carbon based products.
That's old news. What he isn't saying is the truth - Fed devalues US Currency, High Inflation reigns, Price declines in computers have no relevance to the average American who drinks and eats carbon based products.
I believe this isn't old news to someone like this OP and I'm trying to help (not insult them). The majority of the country make the low salaries mentioned here and do not understand the relevance of The Fed, currency devaluation, macroeconomics, etc... Yet, most will understand when their "discount" Wal-mart trips are suddenly costing them 2x, 3x for the same exact things. If you're on a tight budget, this stuff matters bigtime.
Just wondering if a person can live on the Island making a modest amount of money. I don't mind having to be frugal, but I don't want to be scraping by and don't really want to put myself in a bad position for the sake of having a halfway respectable job. Would much rather wait it out and hope for a better opportunity in some vein attempt at protecting myself financially.
The biggest problem, aside from student loans(which really aren't half bad), is rent. Apartments are out of the question. Studios, while far less expensive and reasonably priced, are still fairly high.
So, what say you - can it be done? Thanks!
It can be done, but what quality of life do you want? You don't mention the field you're in, so we can only ask if there is a big step up in pay after you get some experience. Is a job in the city an option (may = more pay)?
$35K is not a lot on LI. I look at it this way: your take home pay will probably be ~$20K - $25K after taxes and health insurance/401K(?). Figure the rest of your expenses from there (rent, car+insurance+gas, food, utilities, etc...).
Unless you plan to get a union or trade job (plumber, carpenter, etc...), enter a professional area (law, medicine, finance, etc...) or start your own business, at the salary you mention, you will probably be scraping by for quite some time.
I believe this isn't old news to someone like this OP and I'm trying to help (not insult them). The majority of the country make the low salaries mentioned here and do not understand the relevance of The Fed, currency devaluation, macroeconomics, etc... Yet, most will understand when their "discount" Wal-mart trips are suddenly costing them 2x, 3x for the same exact things. If you're on a tight budget, this stuff matters bigtime.
Agreed, and even those who have some flexibility are watching their purse strings these days. Only those who are fantastically wealthy or just plain nuts are spending with reckless abandon.
I wouldn't do it. I'm in my late 20's, got married young, had two kids and now I wonder what I was thinking? My husband and I have a combined income around 150k and we're not "strapped", but there's really no extra money-hardly ever. You'll be working your @ss off just go on a one week vacation. We've been looking to move upstate...good luck
Actually, a 35K initial starting salary on LI is pretty common for college-educated folk. I'm 24 and have been working my current job for a year now and am still at my 35k, despite my being a tremendous boon to the company I work for(I will demand a raise once they bring me in for my review). Keep in mind that I have a quantitative B.S. degree too, and even I am being paid meagerly. It is typical.
But if you're single you can easily scrap by and find a room in a house somewhere for 500-700 dollars (sometimes even a studio apt in someone's house).
I am by no means living frugally and am still managing to save on my 35k salary.
But I also have no desire to stay on LI and am looking for a job in the city or elsewhere. So if this is your plan too, then just take the job on LI and keep looking. No one says you have to stay, just get the experience and then move-on. People in this thread, I believe, are under the wrong assumption that you're looking to settle on LI...if you are, then you might want to reconsider, if not, take it and wing it for a while.
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