Salary to "Live Comfortably" (Sunnyvale, August: tech job, taxes, to live in)

[Ahyle]

* we are two
Actually I'm not looking to spent all the money I have but I wanted to create a cost of living list by increasing some of the expenses. Better to exaggerate on some things and have some remaining money.
I think expenses like utilities/gas may depend on the area you live. At least for the first year we'll stay in a complex of apartments until we get familiar with the city/area. This means the utilities might be higher than in other places. Also the rent is way to higher for what they offer..

[dogandcat]

Originally Posted by Ahyle

* we are two
Actually I'm not looking to spent all the money I have but I wanted to create a cost of living list by increasing some of the expenses. Better to exaggerate on some things and have some remaining money.
I think expenses like utilities/gas may depend on the area you live. At least for the first year we'll stay in a complex of apartments until we get familiar with the city/area. This means the utilities might be higher than in other places. Also the rent is way to higher for what they offer..

Water and trash often included in apartment rent. So you pay electricity and gas if they have gas heater. I don't think it will be more than $100 per month except situations you use your heater and ventilator excessively or some winter days will be too cold... But it will definitely not be too much compare to other expenses. For example, as I remember (correct if I wrong since I have been living in my own house for a while) rent can be increased up to 8% in San Jose after a year of leasing.

I don't think your food and restaurant projected expenses for two people are high. It depends on what you prefer to eat and drink (a lot of fish, organic veggies, wine, etc or not). The same for traveling... It is very personal stuff to compare with other people expenses. I spend much less for food, car/gas, restaurants, and my employer pays all medical insurance for a family. In general, as I said before, calculations are OK. You will be good, and save pretty good money.

[Lanienguyen]

Originally Posted by Ahyle

Hi everyone,

I'm moving to Santa Clara in a couple of weeks and base salary is 121K (+ some bonuses can go up to 160K).
I made a lot of math and this (image below) is what I have for me and my wife for this year (December 2016) and for the next one (Annual). I think this is more than enough for above average people.

Attachment 174537

Your base salary will be OK to rent a 2BR condo or Apt here ($3,000 for 2 BR is little bit high unless it's in the prime area.) I would think it would be around $2,600 in good area. You don't need a great school for your kid, do you?
My duel income is ~200K+, house mortgage+property tax cost me ~$3,000 month, 1 young kids. Our take home income around 8,900 per 2 paychecks ( not monthly like your calculation),we try to max out 401K. We eat out in weekend but only lunches and cheap dinner ( $40/3 persons).. and maybe deluxe dinner (my standard $80-100 for 3) per month. I don't know how much for grocery,gases and other miscellaneous.. but our credit card payment around $2,000 for 2 users. Vacation cost ~5K/yr or little more. Because we has a kid so we take her out of country for a week during summer and interstate during winter break. Our balance in the bank is flat for the last 3-4 yrs since we bought the single house. Yes, we live comfortably ( I believe so).
In your case, I think you will be OK. People tend to adapt into the new situation easily.

[Liz_7]

Originally Posted by plot

$750/mo for groceries
$500/mo for restaurants
$300/mo for utilities
$300/mo for entertainment
$500/mo for gas

$6000/yr for medical insurance
$5000/yr vacation budget

Does this seem normal to anyone or am I just cheap? With a budget like that this person going to be living pay check to pay check or only be saving a couple thousand a year until those car payments are paid off. the food budget seems incredibly high too. If you eating out that much why is the grocery bill so high.

My spendings (I am single):

groceries: $350/mo
restaurants: $60/mo
utilities: $80/mo
entertainment: $50-100mo
gas: $120/mo

I do not have a vacation budget because I never take any. I usually take vacations once in awhile. My last vacation was around $1,200. A $5,000 a year vacation budget a year sounds high to me.

It seems high to me, especially restaurants and vacations, but looks like just a different lifestyle and value system. Your spending is closer to mine. I've purposely limited restaurant spending because it can be such a money drain.

[BicoastalAnn]

Originally Posted by Lanienguyen

Your base salary will be OK to rent a 2BR condo or Apt here ($3,000 for 2 BR is little bit high unless it's in the prime area.) I would think it would be around $2,600 in good area. You don't need a great school for your kid, do you?
My duel income is ~200K+, house mortgage+property tax cost me ~$3,000 month, 1 young kids. Our take home income around 8,900 per 2 paychecks ( not monthly like your calculation),we try to max out 401K. We eat out in weekend but only lunches and cheap dinner ( $40/3 persons).. and maybe deluxe dinner (my standard $80-100 for 3) per month. I don't know how much for grocery,gases and other miscellaneous.. but our credit card payment around $2,000 for 2 users. Vacation cost ~5K/yr or little more. Because we has a kid so we take her out of country for a week during summer and interstate during winter break. Our balance in the bank is flat for the last 3-4 yrs since we bought the single house. Yes, we live comfortably ( I believe so).
In your case, I think you will be OK. People tend to adapt into the new situation easily.

$3k seems about right for a 2bedroom (lower in San Jose) this year. They were more in the $3200-3500 range when I was looking just a few months ago.

[Lanienguyen]

Originally Posted by BicoastalAnn

$3k seems about right for a 2bedroom (lower in San Jose) this year. They were more in the $3200-3500 range when I was looking just a few months ago.

I think they are a couple W/O kid. So why they have to select the great school location such as Cupertino, Saratoga or some part of San Jose West area. I still see lots of Apt or Condo 2BR/2Bath around $2600/month in North San Jose, West of San Jose. I hope they are not looking a luxury Apt condo like Santana Row.

[Ahyle]

Until next year we'll be only the two of us and school is far away
As our colleague from above said: we'll adapt. But now after I saw your comments I feel way better with the money in Santa Clara.
Thanks a lot

[neutrino78x]

Originally Posted by plot

Does this seem normal to anyone or am I just cheap? With a budget like that this person going to be living pay check to pay check or only be saving a couple thousand a year until those car payments are paid off. the food budget seems incredibly high too. If you eating out that much why is the grocery bill so high.

My spendings (I am single):

groceries: $350/mo
restaurants: $60/mo
utilities: $80/mo
entertainment: $50-100mo
gas: $120/mo

I agree with you, man. This is actually similar to my own budget, though I probably make a lot less than you. Mine is approximately this:

rent: $500/mo
general daily expenses (combined grocery, fast food, incidentals): $600/mo
utilities: $20/mo
entertainment: $40-80mo (sometimes zero depending on my situation that month)
VTA: $70/mo
phone: $50/mo

I'll typically have 300-500 left over every month. It's tight, and definitely not middle class or "living comfortably", but not paycheck to paycheck either. It's gotten better with the new assignment at the temp agency. Instead of making 1500/month, I make closer to 1700 now (net). I'm working on some credentials that should qualify me for something closer to $20/hr, which would be about 2000 per month. Then I can move back into downtown San Jose and still send my dad $500/month, as he can't afford his rent on his own; without my income, he probably would not have been allowed to live in this apartment complex, as it would not be 1/3 of his income (it's not BMR or age restricted...the waiting lists for those were too long).

If I made 75k, that would be a luxurious lifestyle for me. I could rent a room somewhere and still pay almost half of my dad's rent. At 100k I could pay it all.

200k to live comfortably is more if you want to buy a SFH. If you don't need or want that, 100k should be fine to live comfortably. 50k if you're single.

[RVD90277]

neutrino78x, you should write a blog similar to mr. money mustache...i.e., how to reduce your expenses to live within your means. but in your case, you also happen to be living in one of the most expensive areas in the country (unlike mmm who lives in the middle of nowhere).

[Perma Bear]

Originally Posted by RVD90277

neutrino78x, you should write a blog similar to mr. money mustache...i.e., how to reduce your expenses to live within your means. but in your case, you also happen to be living in one of the most expensive areas in the country (unlike mmm who lives in the middle of nowhere).

He can call it "how to succeed living in poverty in the bay"