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Old 10-10-2007, 01:11 PM
 
Location: Heartland Florida
9,324 posts, read 26,744,304 times
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What do YOU consider the poverty level for individuals/families? I think it is 40,000.00 per year for individuals and 60,000.00 a year for families. Remember, this is for NEW residents, not those of us who were here pre-bubble.
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Old 10-11-2007, 11:23 AM
 
Location: Harrisburg, PA
2,336 posts, read 7,777,966 times
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Quote:
Originally Posted by tallrick View Post
What do YOU consider the poverty level for individuals/families? I think it is 40,000.00 per year for individuals and 60,000.00 a year for families. Remember, this is for NEW residents, not those of us who were here pre-bubble.
Hmm....I would agree. I mean I make $36k per year and can take care of the basics...and that's about it. Because I'm single....my take home pay is actually sub 30k. My car is paid for (so I don't have an auto loan). I got it while still in college. I don't see how I could get a new one without doing "bill juggling" (skipping a bill here, this month, skipping another next month).

What is also impossible is saving any amount. I have a savings account.....but I use it mainly to put things away for big purchases; like furniture and electronics. True, those purchases can only happen once a year.

I'm not the best money manager in the world...but I have these issues and and don't even have any dependents! So yeah, I guess 40K would be "poverty" level. If you consider "poverty" to be having less than $250 of disposable cash per month. Which is what I operate off of.
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Old 10-11-2007, 02:08 PM
 
Location: Coconut Grove, FL
6 posts, read 24,191 times
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Quote:
Originally Posted by tallrick View Post
What do YOU consider the poverty level for individuals/families? I think it is 40,000.00 per year for individuals and 60,000.00 a year for families. Remember, this is for NEW residents, not those of us who were here pre-bubble.
Yep, sounds about right. You can't afford to buy anything major (cars or houses) on these salaries. Renting a place will be about $1000/mo if you're single and about $2000/mo for a family, or annually roughly 1/3 of your after-tax income. Yikes. Why anyone would want to get started down here is beyond my comprehension.
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Old 10-11-2007, 02:26 PM
 
8,377 posts, read 30,897,443 times
Reputation: 2423
Quote:
Originally Posted by tallrick View Post
What do YOU consider the poverty level for individuals/families? I think it is 40,000.00 per year for individuals and 60,000.00 a year for families. Remember, this is for NEW residents, not those of us who were here pre-bubble.
I would say thats about right for an individual, but push it to 80 thousand for a family. You have to realize anywhere where a family can survive on 60 thousand is going to be living a beyond substandard life.

Here is why I say that. Let's look at a town that has acceptable schools and is somewhat safe, and see what a person making 60 thousand dollars a year can buy using the 3x income rule.

REALTOR.com: Find a Home - Listing Detail

It buys a doublewide off the interstate.

80k makes more sense.
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Old 10-12-2007, 12:38 PM
 
Location: Downtown Raleigh, NC
2,086 posts, read 7,643,416 times
Reputation: 1308
Quote:
Originally Posted by MissShona View Post
Hmm....I would agree. I mean I make $36k per year and can take care of the basics...and that's about it. Because I'm single....my take home pay is actually sub 30k. My car is paid for (so I don't have an auto loan). I got it while still in college. I don't see how I could get a new one without doing "bill juggling" (skipping a bill here, this month, skipping another next month).

What is also impossible is saving any amount. I have a savings account.....but I use it mainly to put things away for big purchases; like furniture and electronics. True, those purchases can only happen once a year.

I'm not the best money manager in the world...but I have these issues and and don't even have any dependents! So yeah, I guess 40K would be "poverty" level. If you consider "poverty" to be having less than $250 of disposable cash per month. Which is what I operate off of.
Before I moved away I pretty much was in the same situation you are. Car was paid for, ~$35K before taxes, health insurance and my 401k came out. Actual take-home was probably closer to $28k or less. I had no choice but to live with a roommate and was somehow able to save a little bit, but I couldn't just go out and buy a new outfit if I needed to without foregoing some savings. I am pretty good at managing my money and am willing to sacrifice some things for what I consider more important goals. I don't know how people with incomes under $40k who like to keep up with the Jones' keep their heads above water in Miami.
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Old 10-12-2007, 04:27 PM
 
5 posts, read 37,075 times
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Originally Posted by miamiblue View Post
I don't know how people with incomes under $40k who like to keep up with the Jones' keep their heads above water in Miami.
Those people are probably drowning in credit card debt
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Old 10-12-2007, 07:17 PM
 
Location: Harrisburg, PA
2,336 posts, read 7,777,966 times
Reputation: 1580
[quote=jrv210;1718434]Those people are probably drowning in credit card debt[/quotea]

Nah....my credit card debt is around $300.

The trick is to not live above your means. Although it is very, very rare to see such a thing happen in South Florida.
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Old 10-16-2007, 01:35 PM
 
Location: Palm Beach, FL & Napa, CA
2,093 posts, read 5,594,277 times
Reputation: 1010
Quote:
Originally Posted by tallrick View Post
What do YOU consider the poverty level for individuals/families? I think it is 40,000.00 per year for individuals and 60,000.00 a year for families. Remember, this is for NEW residents, not those of us who were here pre-bubble.
Average salary in Palm Beach County is around $35-40K, that's before taxes/deductions. Apparently the average employer here thinks that $10-14HR is good wages to offer experienced people. Just look in the help wanted section.
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Old 10-16-2007, 09:24 PM
 
Location: Tampa
3,982 posts, read 10,460,170 times
Reputation: 1200
yep

i luv s florida, but i just dont know how i could afford it!
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Old 10-17-2007, 10:54 PM
 
Location: Doral/Miami
94 posts, read 134,273 times
Reputation: 13
Quote:
Originally Posted by MissShona View Post
Hmm....I would agree. I mean I make $36k per year and can take care of the basics...and that's about it. Because I'm single....my take home pay is actually sub 30k. My car is paid for (so I don't have an auto loan). I got it while still in college. I don't see how I could get a new one without doing "bill juggling" (skipping a bill here, this month, skipping another next month).

What is also impossible is saving any amount. I have a savings account.....but I use it mainly to put things away for big purchases; like furniture and electronics. True, those purchases can only happen once a year.

I'm not the best money manager in the world...but I have these issues and and don't even have any dependents! So yeah, I guess 40K would be "poverty" level. If you consider "poverty" to be having less than $250 of disposable cash per month. Which is what I operate off of.

I went to college in NY and girl who was an "exotic dancer" I knew who moved from Miami told me " In NY you strip to pay for college in Miami you strip as a second job even if you have a college degree to survive"
Lol ofcourse its just a goof to make a point I dont think she meant it though having lived here awhile I am now inclined to agree lol
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