Making the decision to move on a reduced salary

[nyc2nc?]

I don't trust those calculators b/c they can be like comparing apples to oranges. IMHO, I find it more accurate to use take home pay calculators rather than the cost of living/salary comparison calculator suggested. I REFUSE to believe that our family, moving from NYC, can maintain even a modest lifestyle withstanding a $53,626.58 reduction in salary, as was calculated by CNN’s calculator. Sure we rent a tiny 2 bd/1 ba here for the cost of mortgages there, and will therefore get a little more square footage for less money. But does this calculator account for changes in lifestyle that may be necessary, such as owning 2 cars (gas/insu) vs. public transportation AND renting vs. owning? Not to mention the other new costs we anticipate from homeownership. I need to deal with real numbers before I start packing!! I'd much rather live in our tiny, overpriced rental here than to be homeless and hungry there!!!

Duke has the only comprehensive online take home pay calculator that I've encountered. Duke HR - Take Home Pay Calculator (http://www.hr.duke.edu/compensation/takehome.html - broken link)

Other calculators that are useful are those that calculate state tax, car insurance,etc. Here's a link to calculate NC state tax.
Tax Calculator

I truly appreciate folks on this forum who share actual numbers re: their monthly expenditures. I have set up a spreadsheet where I plug in these actual numbers to itemize our projected monthly budget. This has kept my husband and me a bit more realistic about the salary requirements he's making in his job search!

HTH,
Nikki

[mm34b]

I took a 50% cut in income the last time I moved to NC. However, I ended up with more discretionary income than I had previously, mainly due to the elimination of employment related expenses, and much lower housing costs and various taxes. DC Metro to Asheville Metro.

[jerseygirlonthemove]

Thank you everyone for your responses. It's never an easy decision to make to uproot your life and take that leap of faith. I keep trying to tell myself that if it doesn't work out, we can always come back. My husband says that it will take "wild horses" to drag him back to NJ. LMAO

[bull136]

Originally Posted by newmom5497

I am a teacher so my starting salary will go down about $10,000 annually compared to NJ.

HOWEVER....I am a teacher in a private school here in NJ with NO health benefits, and my husband is self employed so we pay our own health insur. $1100.00 per month in Jersey.....it will go down to $400.00 per month in NC..huge savings there=$8400 savings

Property taxes in NJ--$7600.00 anually compared to @2000 in N.C.=$5,000+ savings.

Auto Insur-$3000 in NJ compared to @$1200 in NC = @1800 savings.

TOTAL savings=$14,600 anually more than makes up for my 10,000 pay cut which should climb to what I make now in 5-6 years.

Well worth it for us to get out of Jersey.

plus the house I bought here was 190k easy 400k in NJ 210 k at 6.5% =$1,400 a month I have to earn around $1,800 to net the 1,400 thats 21600 a year and the house in jersey was older and smaller yard.

[miamiblue]

Originally Posted by jerseygirlonthemove

I keep trying to tell myself that if it doesn't work out, we can always come back. My husband says that it will take "wild horses" to drag him back to NJ. LMAO

While this is technically true, remember that going from a low cost-of-living area (NC) to a high cost-of-living area (NJ) is always way more painful and difficult that the other direction. Something to consider if you have any doubts that you will like living where you decide to move to.

[beachy keen]

For teachers looking to move to NC and wondering how much will be taken out for retirement, state tax, etc., I found a salary calculator on the Wake County school district's website:

Wake County Public School System

Under "Information for Employees," click on "WCPSS Net Pay Calculator."