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Can I live on my own making only $32,500 a year? - Page 3

post #31 of 92
Quote:
Originally Posted by Dedalus View Post
Take it, you'll be fine.

+1
post #32 of 92
Quote:
Originally Posted by Brian278 View Post
You'll be fine, but if you can, I'd find a roommate and save another few hundred a month. Having a roommate has other advantages as well if you're moving somewhere you haven't lived before.
Roommate in a studio efficiency? That shit's probably like 500sq ft. C'mon, that's really unnecessary and kinda gross. That seems like a fine set up. I don't know why lame ass posters are getting on his ass like he is going to work a $32k job for the rest of his life and raise a family on it or something. -He has most all his travel paid for -No loans, car payments, debt -At least has a budget plan unlike some. -Is a recent college grad so doesn't need all the fancy stuff some older SFers desire -Recent college grad so knows the value of finding cheap beer/drink specials and probably isn't super picky With the way he worked his budget out, if he sticks to it, he can probably stick $300 a month away in savings or some kind of low earning investment type dealy. It's not much for some of the older lawyer, big business man guys, but for someone his age, putting away $3600 a year for two years will be alright for now to use in case of small emergency. Why do some people get bent out of shape when they see others not desiring all the same luxuries in life as a 22-23 year old that they as older 20s, 30s and 40 year olds do who have years of life and job experiences. Not everyone can just "choose" to start out at a nice high paying job with perks and lots of upward mobility. Especially nowadays. I'm sure if he could find a job that pays $50k, with perks and mobility, he'd consider that as well. Sometimes people make it seem easy to make such a nice living with a good job and all. Someone PM me the secret, please.
post #33 of 92
be smart and you'll be fine
post #34 of 92
I lived as a graduate studen for $24K less taxes a year, albeit at a much less expensive place.

Rent was $450/month all inclusive.

I spent a pile on food each month, drank like a sailor, lived like a king, bought and fixed up a truck (for a grand) in addition to my car and still put away some money.

I had an exel spreadsheet and on top was income, less $250 in savings, rent and other fixed expenses. I tried to never go below what was left.

For $32K you can do it, but you need to be careful about what you buy and spend.

Join costco - $50/year, split it with a friend. One membership gets you two cards.
You can get a huge chunk of meat and slice it into a dozen or so perfect steaks for $2.50 a pound. Paper towels and the like are really cheap there. Ethnic markets are a great source of cheap and fresh vegitables, rice, tea.

Scour craigslist for free and cheap stuff, go to auctions. Used, non-SF worthy furniture is very cheap. I got almost all of mine for practically nothing.

Buy all your clothes on the B&S or ebay.

Open a chase checking account, you get $100 instantly. Put money into savings every month, after you pay your fixed bills but before you buy anything else.

Poor is a state of mind, always think of yourself as being filthy rich. Not being able to buy something is a cash flow problem that will remidy itself in due time with adiquate work.

And finally, gas, food, etc are cheap.

Time is not.
post #35 of 92
Budget $300 more for partying (add other cultural activities to the list, buying books you don't get at the public library, say you wanna see a play, etc) and save $200/month just in case and you're golden. I don't see any problems.... At some point in the year use those $2400 for a vacation or something. You'll save when you're older.
post #36 of 92
Quote:
Originally Posted by kwilkinson View Post
I do it at $13k, so no. Good luck, sounds like you've got it worked out okay for a while.

Kyle, how the hell do you do this? Honestly. I am happy for you that you are pursuing something you really want to do, culinary school. My best friend graduated from culinary school a few months ago and is working in a restaurant. But 13k a year just seams impossible. I know I live in Orange County so 13k wouldnt be enough for a years worth of rent anywhere, but even in Chicago, how does that work?
post #37 of 92
Yeah, no problem. Just charge everything up on your credit card and wait for the gov't to bail you out.
post #38 of 92
Funny how some have to get their shots in at the government, even when it's not really applicable to the topic at hand.

Speaking of the topic at hand, I say do it. I'm on the cusp of graduation myself and since I'm going into a profession that is truly smarting right now (journalism), a job, let alone one that pays $32k to start off, sounds fabulous.
post #39 of 92
Yeah build a spreadsheet and track how much of that $800 you actually spend every month. There are a lot of hidden expenses in life but I think $800 should give you enough breathing room. I do this every month and can hook you up with the spreadsheet I built if you need one. As long as you stay on top of things you will be fine.

I applaud you for taking an honest look at your income and expenses before hand - this will pay dividends down the road. If everyone had done this we'd be in a lot better shape.
post #40 of 92
835$ only gets you an efficiency?

holy crap.

I have no desire to live on either coast, I'd rather keep myself and my money here or in OK.

415$ a month for a spacious (i am not 100% on sq footage) 1 bdrm.
post #41 of 92
you can find something cheaper if you're willing ot live outside of DC too
post #42 of 92
^ or deep in the city.
post #43 of 92
I bought my first house on 34K/yr in a pretty expensive part of michigan in 2004, with 2 roomates. Its very do-able. Shit, your used to being a poor college student, 800K/month is a score. Good luck- I dated a girl who lived in arlington, when I was in VB and it was a blast being there.
post #44 of 92
Quote:
Originally Posted by BDC2823 View Post
Kyle, how the hell do you do this? Honestly. I am happy for you that you are pursuing something you really want to do, culinary school. My best friend graduated from culinary school a few months ago and is working in a restaurant. But 13k a year just seams impossible. I know I live in Orange County so 13k wouldnt be enough for a years worth of rent anywhere, but even in Chicago, how does that work?

Oh, it's not too hard, really. $625 for rent w/ all utilities included, $75 for cable and internet, $250 for food and shit, about $50 for health insurance. I have about $100 left over for recreational purposes. I go out two or three times a month, look for deals like half off mondays, where I can have a few beers and dinner for $15. Sometimes my friends take me out for drinks. I mean, yeah, it's a simple, boring, poor life, but I don't hope to be doing it in 5 years. Just while I'm in school. My CTA pass is covered in my tuition, I spend a lot of time getting books from the library or stealing movies off the internet. I try to save up $50 a month so I can afford to see my girlfriend once a month. I'm also slowly paying off a little bit of credit card debt. So yeah, I have to watch every penny that comes out of my pocket, but it isn't too bad. People hear it and sound like I'm living in hell.... but I actually love my life.
post #45 of 92
Quote:
Originally Posted by ms244 View Post
I lived as a graduate studen for $24K less taxes a year, albeit at a much less expensive place.

Rent was $450/month all inclusive.

I spent a pile on food each month, drank like a sailor, lived like a king, bought and fixed up a truck (for a grand) in addition to my car and still put away some money.

I had an exel spreadsheet and on top was income, less $250 in savings, rent and other fixed expenses. I tried to never go below what was left.

For $32K you can do it, but you need to be careful about what you buy and spend.

Join costco - $50/year, split it with a friend. One membership gets you two cards.
You can get a huge chunk of meat and slice it into a dozen or so perfect steaks for $2.50 a pound. Paper towels and the like are really cheap there.
Ethnic markets are a great source of cheap and fresh vegitables, rice, tea.

Scour craigslist for free and cheap stuff, go to auctions. Used, non-SF worthy furniture is very cheap. I got almost all of mine for practically nothing.

Buy all your clothes on the B&S or ebay.

Open a chase checking account, you get $100 instantly. Put money into savings every month, after you pay your fixed bills but before you buy anything else.

Poor is a state of mind, always think of yourself as being filthy rich. Not being able to buy something is a cash flow problem that will remidy itself in due time with adiquate work.

And finally, gas, food, etc are cheap.

Time is not.

I agree with most of this advice except the Costco part. DO NOT GO TO COSTCO! It can be great if you have money to spend but it's hardly inexpensive, you end up with huge quantities of stuff (lots of which ends up wasted), and you can't leave that place without spending less than $200 no matter what you came in for.
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