1. And... we're back. You'll notice that all of your images are back as well, as are our beloved emoticons, including the infamous :foo: We have also worked with our server folks and developers to fix the issues that were slowing down the site.

    There is still work to be done - the images in existing sigs are not yet linked, for example, and we are working on a way to get the images to load faster - which will improve the performance of the site, especially on the pages with a ton of images, and we will continue to work diligently on that and keep you updated.

    Cheers,

    Fok on behalf of the entire Styleforum team
    Dismiss Notice

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

Discussion in 'General Chat' started by trewsx7, Mar 9, 2009.

  1. Teger

    Teger Senior member

    Messages:
    21,933
    Joined:
    Mar 14, 2008
    Location:
    Richmond, VA
    you can find something cheaper if you're willing ot live outside of DC too
     
  2. ctrlaltelite

    ctrlaltelite Senior member

    Messages:
    2,348
    Joined:
    Jun 8, 2007
    Location:
    upper caucasia
    ^
    or deep in the city.
     
  3. jgold47

    jgold47 Senior member

    Messages:
    1,629
    Joined:
    Mar 23, 2008
    Location:
    The Mitten
    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.
     
  4. kwilkinson

    kwilkinson Senior member

    Messages:
    33,650
    Joined:
    Nov 21, 2007
    Location:
    Chicago
    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.
     
  5. EL72

    EL72 Senior member

    Messages:
    6,860
    Joined:
    May 11, 2006
    Location:
    Toronto
    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.
     
  6. chorse123

    chorse123 Senior member

    Messages:
    10,448
    Joined:
    Nov 5, 2004
    Without student or cc debt, that's great. I wish I had $800 a month in disposable income when I was 22.

    I think your food number is a little low, since you'll probably eat out a lot.

    Try to save for near and long term. It's easy to piss away money, but it's good to have some in reserve even if just for something like vacation.
     
  7. West24

    West24 Senior member

    Messages:
    3,960
    Joined:
    Dec 3, 2007
    im planning on doing the same thing. but i plan on buying a condo so if im struggling and not putting money away, i dont care too much because im using the condo as an investment.
     
  8. Connemara

    Connemara Senior member

    Messages:
    39,486
    Joined:
    Mar 9, 2006
    I make $140K a year and it is not enough.
     
  9. Fuuma

    Fuuma Senior member

    Messages:
    25,818
    Joined:
    Dec 20, 2004
    I make $140K a year and it is not enough.

    You can't survive on less than 300K, I really can't see how these people do it.
     
  10. West24

    West24 Senior member

    Messages:
    3,960
    Joined:
    Dec 3, 2007
    I make $140K a year and it is not enough.

    and youre always sleeping at other guys houses.
     
  11. ctrlaltelite

    ctrlaltelite Senior member

    Messages:
    2,348
    Joined:
    Jun 8, 2007
    Location:
    upper caucasia
    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.

    i work in media/pr and man, i really wish you the best of luck. a lot of my friends have gotten the axe, it is really rough out there!
     
  12. Bradford

    Bradford Senior member

    Messages:
    6,708
    Joined:
    Mar 19, 2002
    Location:
    Phoenix
    One big tip that just occurred to me in reading this thread...

    Buy a lunch box and use it to take your lunch to work everyday.

    That's one of the best ways to save money there is.

    If you fall into the habit of going out to lunch, you'll end up typically blowing anywhere from $7-$12 per day and there goes all your money.

    I find that making my lunch the night before is the best way to do it - either by making more of whatever I'm having for dinner and packaging up the leftovers for lunch or just by making a sandwich and whatever. Either way, having it ready to go in the morning and taking it with you is a great way to save money - and you usually eat better as well.
     
  13. Joffrey

    Joffrey Senior member

    Messages:
    11,352
    Joined:
    Jun 18, 2006
    Location:
    Pennsylvania Ave/Connecticut Ave
    I graduated college in December, and I just got a new job that pays $32,500 a year, after federal and state taxes are taken out, I get $24,000 a year--or roughly $2000 a month--in disposable income. I also get free healthcare/medical/dental. My new company will also pay my Metro transportation costs.[​IMG]

    I just found a studio efficiency apt. in the heart of DC for $865 a month, with ALL utilities included. I have no car, no loans, no car payments, or any other monthly expenses. I am single. I have a great and extensive wardrobe, so I don't really need work clothes. I spend $300 a month in groceries, which leaves me about $800 a month as extra "spending money" when the rent and groceries are extracted from the $2000 a month.

    Everyone seems to think that living in DC on $32,500 annual salary is impossible, but I just demonstrated that you can. Can anyone see a major flaw in my reasoning, or an error in my calculations that I am forgetting? Thanks! I ask because I know there are plenty of people on this forum who live in cities, and I would greatly appreciate any input on my situation before I sign my lease and live on my own! Thanks![​IMG]


    If you can, live at home for a year, save that $865 a month (plus food and other expenses) then move out on your own. Once you do so it will be mpossible save anywhere near that amount on your salary. I actually lived at home for 2 years (1 too many) and saved a shit load. It's a great feeling - especially in this economy and other emergencies that come up, to have a cushion. Plus with rent and other things that come up as a 24 year old living on his own, I'm only saving about a third I used to.
     
  14. chrome_dout

    chrome_dout Senior member

    Messages:
    495
    Joined:
    Sep 12, 2008
    Live at home for a year, save that $865 a month then move out on your own. Once you do so it's incredibly hard to save especially figures anywhere that high on your salary. I actually lived at home for 2 years (1 too many) and saved a shit load. It's a great feeling - especially in this economy and other emergencies that come up, to have a cushion. Plus with rent and other things that come up as a 24 year old living on his own, I'm only saving about a third I used to.

    +1
    But if you really enjoy being on your own, your current situation does sound pretty good. Congrats.
     
  15. antirabbit

    antirabbit Senior member

    Messages:
    3,819
    Joined:
    Oct 8, 2006
    Location:
    North GA
    I make $140K a year and it is not enough.

    Bullshit
     
  16. Piobaire

    Piobaire Senior member

    Messages:
    50,225
    Joined:
    Dec 5, 2006
    Location:
    In My Douchemobile
    You are actually making much more that 32.5k a year. If I read this correctly, you have your health care 100% covered (there's probably 12-18k a year), your mother pays your cell phone, and work pays your transportation costs. Seems to me your effective income is closer to 45K.
     
  17. Scrumhalf

    Scrumhalf Senior member

    Messages:
    1,179
    Joined:
    Dec 13, 2007
    Location:
    Portland OR
    I think your food number is a little low, since you'll probably eat out a lot.
    Don't. Buy groceries, learn to cook and pack your lunch. You'll save money, be healthier and learn a skill that is very underrated.
     
  18. KenN

    KenN Senior member

    Messages:
    591
    Joined:
    Aug 2, 2008
    Location:
    Canada
    Don't. Buy groceries, learn to cook and pack your lunch. You'll save money, be healthier and learn a skill that is very underrated.

    Plus, it is another reason to invite the girl over.
     
  19. Fuuma

    Fuuma Senior member

    Messages:
    25,818
    Joined:
    Dec 20, 2004
    You are actually making much more that 32.5k a year. If I read this correctly, you have your health care 100% covered (there's probably 12-18k a year), your mother pays your cell phone, and work pays your transportation costs. Seems to me your effective income is closer to 45K.

    Not bad and not reason he shouldn't make it. He can even keep purchasing dtuff for his wardrobe if he wisely picks from B&S and ebay. You don't end up with exactly what you want that way though so that's why I prefer a bigger budget in this area.
     
  20. yerfdog

    yerfdog Senior member

    Messages:
    1,334
    Joined:
    Sep 23, 2006
    Bullshit
    Everyone knows Conne's a full time college student, so I doubt he was actually trying to fool anyone.
     

Share This Page

Styleforum is proudly sponsored by