Is $42,000 enough to live in Miami? (home, calculation, salary)

[r_k]

Originally Posted by FloridaMan1209

Appreciated advice.

How do all of these waitresses/waiters, bartenders, hotel staffers and other service industry people afford to live in SoBe? Or do they?

I think most of them live further north on the beach, or the mainland, where rents are cheaper.

Also, there are some pretty low-end buildings in south beach itself with sub-$1000 rents. But definitely you'll get more for your money as you head away from SoBe.

[ace587]

Originally Posted by mm.miami

It really depend on your life style..I m a single mom of 2, i have a mortgage, i have a car payment, a cell phone and few of the nice things kids required nowadays.I live in downtown, and work on the beach. All this on a $ 36.000 a year.

what part of downtown? Ive been living in the wrong place

[Coconut1]

Originally Posted by FloridaMan1209

Hmm...I'm the type of person who isn't looking to "just get by." It seems like this would be the case if I lived in Miami.

I make less at my current position (which is also a good marketing gig), but given where I live, am still able to have some fun on the weekends (food, drinks, beach, etc.) and have some cash to save each month.

I guess I'd rather live in a decent area, have fun and still save, than live in an AWESOME area but be sucked down by the high cost of living.

Decisions...decisions...

BTW, I live in a pretty nice place now on the Gulf Coast for a little over $500/month. If only there weren't so many old people in SW Florida!!

You'll be fine. Assuming you're single, and no kids and are 24 years old, there will be no problem on $42K a year.

[FloridaMan1209]

Geez, let's hope so (if I decide to move).

This literally is a dream job doing what I want to do (marketing in a hotel) and I'd hate to see it ruined by going broke!

[mm.miami]

I live off 30th and Biscayne right on the bay, it s a nice area overall. I m not saying it s easy, it s probably just matter of listing the priorities and sticking to it.

[Coconut1]

Originally Posted by FloridaMan1209

Geez, let's hope so (if I decide to move).

This literally is a dream job doing what I want to do (marketing in a hotel) and I'd hate to see it ruined by going broke!

You're not going to go broke so long as you don't go out throwing money down the drain.

Prioritize, pay your bills, save a little and then the rest you can spend. You're not going to have a hard time, trust me.

Live within your means and all will be well

[r_k]

Originally Posted by Coconut1

Live within your means and all will be well

Great advice. Wonder if anyone in Washington is listening....

[Coconut1]

Originally Posted by r_k

Great advice. Wonder if anyone in Washington is listening....

I won't get political, but will only say two things,

1) Whenever something is cut it always affects somebody else. Everyone in Congress campaigns on cutting this and cutting that... then when something does go to get cut the people that it affects start screaming from the rafters saying "You can't cut that! That's going to affect my state/district." Significantly cutting the budget is simply not going to happen. We should instead look for more cost effective ways to do business. People say they want the government out of things, but who has the largest purchasing power? If you answered the government, you're correct. Reducing funding to certain things works far more than flat out cutting it completely.

2) In terms of stimulus spending, all I can say is it takes money to make money. You rarely see a bum out on the street become a millionaire, but often see wealthy people become increasingly wealthy, even during tough times.

[FloridaMan1209]

Thanks for the advice everyone! I encourage all of you and others to let me in on any other advice, recommendations, etc.

[hurricaneMan1992]

Originally Posted by FloridaMan1209

Definitely.

Although I suppose young professionals who can afford to live in Brickell have less of a chance of being psycho, right?!

However ... it doesn't take as much to afford to live in Brickell with 2-3 roommates!