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

Connemara · Mar 9, 2009

Isn't rent even cheaper if you get into one of those rowhouses with a bunch of young people?

kwilkinson · Mar 9, 2009

Originally Posted by trewsx7

I don't see where the problem lies with living on your own on $32,500 a year. Do you?

I do it at $13k, so no. Good luck, sounds like you've got it worked out okay for a while.

Brutus · Mar 9, 2009

With a SF account? You've got to be kidding me.

ratboycom · Mar 9, 2009

I live in Tokyo on an income consisting of student loans. So I think making $32K a year in DC is do able.

dfagdfsh · Mar 9, 2009

yes you sound fine. I think that $90 a month in metro fees is optimsitic, but if you're getting $200 on a smartrip card free from work, that gives you a lot of room. remember that buses are $1.25 with free transfers (within a time frame) on your card, and the buses go EVERYWHERE.

just don't lose the card

Bradford · Mar 9, 2009

You'll have to stay disciplined but yes, you can and should do it.

The experience will pay off for you.

You should probably throw some savings in your budget as well, which will leave you less disposable income but give you a backup in case things go sour.

Brian278 · Mar 9, 2009

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.

MetroStyles · Mar 9, 2009

As long as you stick to casual sex / a cool gf you will be fine. If you start catering to rich girls you will be screwed and broke, but I get the feeling you know this already.

ctrlaltelite · Mar 9, 2009

that's around my living situation right now, but after my annual review i got quite the hefty raise. i pay about 725/mo for rent in a 2-BR apt with one other roommate. we rent out our parking spot which cuts about 65 dollars off my rent. i have enough to live reasonably comfortably and splurge occasionally, though i'll have much more disposable income once i pay off my credit card.

i also have no student loans.

j · Mar 9, 2009

Originally Posted by Brutus

With a SF account? You've got to be kidding me.
That's what I thought when I read the thread title. If you want, I will keep you banned for $20/month and it will be worth it.

Connemara · Mar 9, 2009

Originally Posted by ctrlaltelite

i also have no student loans.
CC debt/student loans are often a key make or break factor for the budgets of new graduates.

Mazda · Mar 9, 2009

I was in Va for work right after college and I think I could survive on less in NYC. Between the absurd traffic laws, the 17 cops per capita that insure you AT LEAST one ticket a year ( I got 3 to the tune of 720 bucks and I had never gotten a ticket in my life prior or since), the insane traffic and even crazier housing and food prices, I think San Diego Gas Lamp and a lease on a Gallardo might be cheaper.

Needless to say VA can suck mah balls and I feel for anyone trying to live their on the cheap. I was making 40K and had a housing allowance and I still felt broke.

I lived off 18K and paid for school in TX and still had beer and motorcycle money left over.

sho'nuff · Mar 9, 2009

Originally Posted by trewsx7

My mom pays for cellphone because we have the family plan. As for cable/internet, I can purchase the bundle for about $60 a month. It doesn't seem too bad, but it's not a necessity.

$865 - rent
$300 - groceries
$100 - toiletries
$100 - incidentals/misceallaneous
$60 - cable/internet
$120 - partying

That adds up to $1500 a month. I'll be living in Adams Morgan, so I am at ground zero for going out/getting wasted/etc...

I don't see where the problem lies with living on your own on $32,500 a year. Do you?

but the question is.. why do you want to settle for 32500 a year? i get the implication that this is your cause.

Charley · Mar 9, 2009

Scratch Beginnings: Me, $25, and the Search for the American Dream
by Adam Shepard (Author)

Scrumhalf · Mar 9, 2009

I think the fact that as a newly minted grad, you are even thinking about making this work puts you in the 99th percentile of your demographic. I think it is not only possible, but highly laudable that you are doing this. $800 is a fair amount of money for discretionary spending as long as you can make prudent choices on what and how you spend it.

Pay off any debt, CCs, etc. that you may have. Nothing sucks discretionary income like high interest loans. See if you can live without a car - can you use zipcar for example?

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

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