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But you also have to add in car payments, car/renters insurance, utilities (which often aren’t included in rent), health insurance payments, student loan payments for many folks, pet/child expenses, etc. Not to mention places with $2k+ rent are typically in areas where groceries and gas are extremely expensive. So that’s WAY less than $45k to play with
Free healthcare though work? I've only ever heard of your payment for healthcare being deducted from your paycheck. Granted a portion is subsidized by your employer. I just had to switch health insurance carriers at work and plans ranged from $150 - $500 a month for the employee contribution.
That’s awesome! Out of curiosity: What industry was that in? I find employers in my industry (engineering) love to pat themselves on back and act like they are offering tremendous health benefits when the plans are about equal to State-provided (NY) plans.
A lot of companies offer that. It’s not the “norm” but it’s decently common in a lot of industries. It just might not be the best policy they offer. I’ve always had a plan that was either no additional premium payments or very low payments.
I've had two friends that Healthcare was 100% covered by the employer, for employee, spouse, and children. The downside was that they were paid pretty low, and neither of them had kids, so it was basically a wash.
Union Electrician, here. Healthcare is completely covered for me and my family by my contractor. We pay co-pays and things, but most everything else is taken care of.
Everyone in the military gets free healthcare, for sure (that's where mine comes from).
For those that don't, though, I think the **lower** end of that won't really make a dent in $100k+ a year, anyway.
Just a note here: My point was not that no-one pays those...but that not everyone has the same situation or has to pay all those things listed by the person I responded to. I pay **none** of those, personally, except for utilities.
This! Don’t forget retirement. I make $115k and my take home post insurance taxes and retirement is like $67k. Add in bills and saving for a house I get a whole $24k a year for myself out of that big salary
Yes. And if you budget yourself properly (read: don't live in a major metro area and don't waste money on dumb shit) you will still be able to afford it all.
People don’t always have the option to move out of an area that gets too expensive. They might be tied to that area due to their job, their kids/schools, etc. And nowhere in my previous comment did I talk about spending money on dumb shit
>People don’t always have the option to move out of an area that gets too expensive.
"I'm going broke paying for rent, but I can't afford to leave! My job pays me too little to live, but I can't afford to leave! And there has never been any kid who has changed schools. Never once in all of history. It hasn't happened and never will!"
>And nowhere in my previous comment did I talk about spending money on dumb shit
I mean if you're paying for rent in a major metro area, you already are.
But then again, I don't want urbanites moving to where I am, so on second thought I take it all back. Please remain where you are so you don't raise the rent prices where I am now. They're pretty reasonable and I don't want that to change.
Just grabbing some random numbers, but supposing someone makes $80,000/year and brings home 70% (paying 30% in taxes), their take-home pay in a year would be $56,000. After rent, they'd have $32,000, which would be about $2,666.67/month to spend on the rest of their bills etc..
Well, where do you get the money to pay for the extra fees that come along with the $2100 per month. The apartments have a lot of extra fees that come along with them. And none of the apartments are furnished. So if you have no.
Furniture, you are just out of luck and they tell you that you can rent furniture, so that's another payment.
Where do you get the money to pay for utilities?
Where do you get the money to pay for food?
Where do you get the money to pay for insurance?
Where do you get the money to make a car payment if you need a car?
Where do you?
Get the money to pay for unexpected medical expenses if you need medical issues, taken care of.
Well around here they don't. Average rent is 2,600. Average income is 55k. So you've got husband/wife both working, or multiple roommates to make it work.
Roommates, multiple incomes (partners), gov. affordable housing and assistance programs.
Spending more than 50% of their income on rent and cutting back on everything else (utilising food banks, don’t go out).
It depends on the city; some adjust the limit to “under 25%” of the area's median income. It's not free housing but reduced rent costs (affordable housing units negotiated by the city with the developer).
Everyone is screwed.
I make "too much" in disability to get either renters assistance or EBT.
If I put my entire disability into rent it would be about 75% the average rent for the area.
You are in a similar situation I am in it sounds like. I get to much pay, from just one marriage settlement, which means, I am screwed, as an injured, aging, senior citizen. With what I get is poverty, its not loads of money, like people think. However, I still spend 25%-35% more, than what I have coming in, just so I can eat. I don't have an income for buying up new furniture. SO I would be sleeping on the floor of $2000 per month apartment empty, no furnishings. I have no incentive to buy furniture, if I need to move again, I can't afford to move, so why bother buying much household belongings, only to lose them again. I can't get a loan, because I don't have a job. Even tho what I have spent in the past 3 years, is probably close to $65,000 or more, just to shelter myself, in emergency situation, on going since 2021. If I was buying a house, and all the money went to principle, it would be close to halfway paid for. However I have no disposable income for house insurance, which that might be baked in ESGROW , for anything else, utilities, city taxes, county taxes, which a household budget needs disposable income. SO much for that rainy day savings they always told people to save up for. That emergency money, for emergency, or to buy a house. I would need a job, paying $6000-$8000 per month, in order to get into an apartment, which is $2000 per month. They, as in THE JOBS just don't exist.
The churches don't do anything to help. If they are helping people, it's only the people in their congregation. Or select other people who are part of something that they don't want everybody to participate in or be a part of.
Unless corporate media mainstream media is identifying as a church for some reason with part of their business model.
My specific apartment is not over 2000 but all of the currently available apartments and apartments being built in my town start at 2200 on average. I make 35k a year and my current breakdown per month for 2 people is:
$2900/mo
$1650 rent. The property is basically a slum and there are 0 amenities besides 3 washer and dryer units in the office but the area is good.
$400 groceries, this includes all misc stuff I might need that month. Like I usually need new work shoes every 6 months.
$150 Electric
$100 internet
$80 gas
$200 into savings
$30 for subscriptions
$140 health insurance
$50 prescription with $25 doctor fee every 3 months.
I don't have a water bill. I don't have a car payment or car insurance payments because my MIL gifted me the car, but I have to spend a lot to take care of it, and I'm on a family phone plan. If I had my old junker car the 200 savings would be for it's insurance and maintenance. If I have anything left over I'll usually get a video game or dinner, but I don't really go out at all.
My rent goes up $100/year and it started at $1350 3 years ago. I've looked into moving but the only apartments that cost less are Low Income properties I don't qualify for, and nicer properties at an equal price have an income requirement I don't meet.
This is the answer no one wants to hear. Between 18 and 38 (when I got married and acquired a permanent roommate), I only lived without roommates for four years. Two years were a mistake - I was living beyond my means and went deep into debt. The other two years I just got very lucky and found a decent, cheap apartment.
During that time, I lived with over 30 different people. The vast majority of them didn't suck, and many of them were fun people I still call friends.
My household income is $60k, we pay $2,150 per month for rent and we’re barely making ends meet. We live in an expensive metro area where gas and groceries are atrociously high. Maybe the area you live in allows $58k to be more comfortable
Not terrible but not great. It’s a 2BR duplex with a yard which is nice - we live like 30mins outside the city (Seattle) so $2,150/mo gives us more for our $. My friend in the city is paying $2,300 for a studio and my other friend in the city is paying $3,200 for her place that’s the same size with the same features/quality as ours. And our place isn’t great quality. The plumbing/walls/exterior are basically falling apart + it has a mice infestation and the landlords refuse to take care of anything.
wise spending. stop buying shit you dont need and youll always be able to afford your bills.
the problem is people spend money out of their means. if you make 30k a year why the fuck are you trying to get a 4 bed 2 bath house? why are you doing payments on a brand nee car? do you really need the new nails and new iphone? the starbucks 2 times a day?
when u get your paycheck if you first put money aside for your mandatory bills (rent, phone bill, utilities, gas to get to work) then other important bills (subscriptions, debts) then you split the rest to savings, retirement, and food. you pick how much you want to put aside for your future, and the rest is for food and luxury spending.
the amount of ppl i know who are in debt but instead of fixing their car, paying off their credit cards and paying their rent theyre at the bar spending $150 on payday, theyre buying coffee 3 times a day, uber eats, eat out everyday for lunch its absolutely ridiculous.
live within your means, and if your means are super low you should obviously prioritize fixing that.
when u see broke ppl affording nice apartments, cars, vacations every summer/winter thats called credit cards.
So many people are completely fucking themselves over by ordering half or more of their meals through food delivery apps. The food doesn't even taste good when it gets to you! It makes absolutely no sense to me.
i was at my exes house (dating at the time) and she wanted mcdons. instead of walking 5 blocks down the road and paying thr $5 for the meal, she ordered it on uber eats, waited 20 mins for someone to pick her order, 20 mins for them to pick it up, then paid $15 before tips for a cold meal, just so she didnt have to get out of bed.
i may be lazy, but ill never pay money to be lazy thats astronomical
there is definitely an inflation problem going on right now, but by no means should a singlr individual be struggling off that income unless theyre living in an unrealistic environment.
for single parents i can understand, but 2 incomes at 45k should still be able to live.
no where am i suggesting its going to be comfortable living, hell you probably wont get to vacation a lot, however thats a by product of not pursuing higher education, higher income jobs or poor spending habits/life choices.
no way buddy said inflation doesnt exist.
not only is inflation a real thing, and has been since before covid, but shrinkflation is real too.
youre paying more money for less product than you got 5 years ago.
its happening right in front of your eyes, but if you choose to be delusional to whats right in front of you be my guest
I didn't say inflation doesn't exist. I said the one during and after covid is not an actual inflation but an artificial one set up by greedy companies. Learn to read, skibidi.
starbucks coffee is average $8 a pop.
buy a burger for $3 at mcdons or uber eats it for $15 before tips.
your choice, but the key to financial freedom is learning that all those small purchases add up very quickly.
go through the last 3 months of your purchases on your bank statements and add up hoe much money youre spending on unnecessary things like that, then learn how you can do it more efficiently for cheaper/if you can erase it entirely. coffee at home is cheaper and smarter.
its really not that hard of a concept to understand, but if you wanna stay broke thats not my problem. keep feeding into your temptations
I actually don’t drink Starbucks nor do I use Uber eats. And I know that inflation/the exponentially rising costs of housing/food/gas, etc. compared to the barely rising wages/salaries and the criminal interest rates on student loans aren’t something you can get yourself out of just by drinking coffee at home. But keep preaching those outdated and inaccurate ideas, boomer (:
1/3 for a place is not terrible . in your math is even up to 1/4th . I used to pay half of my salary for my house loan and iy definitely feels way better that its 1/3 now .
It creeps up on you. So my landlord increased our rent by $500 as soon as our lease ended. Unfortunately, the cost of moving and all the deposits necessary to get a new place was too expensive. There is actually a class in my area that tells investors to make sure to keep increasing the rent enough that the tenant can technically still afford the apartment (even if that's the only thing they can afford) but can't afford to move. Obviously landlords want and need to make money but some are unethical and manipulative.
That’s pretty expensive rent. 850 was a lot for me renting a room and I made about the same.
I had a job I worked 60 hour weeks and I paid a bit north of 1k and it felt like too much, but had some room for groceries and occasional fun. Still kinda paycheck to paycheck.
lets say you make 75k...
$2,000 × 12 = $24,000
That falls in line with the common 30% income for housing equation and shouldn't be an issue. If you have a roommate, the rent is cut in half and you get away with making much less.
We bought my stepdaughter a 2 bedroom / 2 bath 1 car garage condo with us as owners and pay a $1,900/month mortgage. My stepdaughter Zelles around $1,000/month which covers condo fee, property tax, condo insurance, and electric & broadband. The condo fee includes heat, hot water, water, and sewer plus natural gas for the gas fireplace insert.
The total cost is around $2,800 per month. When we bought it 3+ years ago, the cost was around $2,600/month and market rate rent was a similar $2,600/month. Market rate for renting it now would be $3,500 to $4,000. It’s appreciated around 1.5x what we paid for it.
My stepdaughter would be dealing with roommate hell otherwise. It would be challenging to find a room in a house for $1,000/month and that wouldn’t include utilities.
Best days of my life was when I had a bunch of roommates. I don't know why people act like they NEED to live on their own. a little over 15 years ago... 4 couples split the cost of a 4 bedroom double wide about 20 minutes out of town. My share of all the bills was less than $300 per month. And I was living good... two living rooms big kitchen, big chunk of land, it was great, hundreds of channels on the tv, ... if I didn't have kids, I'd still be living like that.
We were lucky in the sense that we were all friends/coworkers... so we knew each other going in.
But that is the downside I suppose with dealing with strangers, is you're probably going to be dealing with people with evictions, don't pay rent anyway, as potential roomies.
But it's still a seldom mentioned option. People act like having roomies is unheard of, or something they shouldn't have to deal with. But it's always been a thing for generations.
I have been asked to move from a low cost small town to suburban Chicago.
At $87,000/year, with a $400 car payment, $2000 rent and the usual expenses I would have a few hundred bucks “extra”. And that is with no kids and no spouse.
The whole apartment thing at this stage requires a working spouse or roommate to be reasonable. It is a real challenge to live alone in a HCOL city.
Honestly, as a couple we make a LITTLE over 100k between the both of us and people think we're rich lol.
We have no car payments
We have no CC debt.
Our mortgage is 1750 a month. Home is 9 years old and is 2800 sq ft on 3/4 acre. We bought at the right time.
We don't have any bad habits. We don't eat out a lot and meal prep. People just live beyond their means. We live very well but auto insurance has started to hit us hard. GEICO wants 2500 for 6 months for cars that are 9 and 10 years old. We have no tickets, accidents or claims.
Besides the auto insurance and grocery prices we're doing well.
I mean people are always living beyond their means but they can find ways to do it. The OP is asking how someone can afford an expensive apartment (his idea, not mine). I'm saying how. It's often due to borrowing or they get money from someone else.
Or do you know how people pay for something expensive that they don't have enough money for? I'm open to ideas;)
I make over 100k a year and about 6.5k actually goes into my account each month. I actually only spend 1.2k on rent but if I had to stretch to 2k, it would still leave me 4.5k a month. Actually very affordable.
Same boat. I own my 8 year old car, liability insurance, and I live 5 min away from everything so gas is cheap. I have an IPhone 11 I paid off years ago….
But they’re not ready to sacrifice new new new yet
Not sure why my reply was voted down but hey ho. Yeah, I have a 2012 Ford S-max. I have nothing on finance at all. Really outside of rent and utilities & food etc, my money is my own. I also have a really old Iphone with a huge crack on the back.
Financial security isn't all about your income. It is about not getting swamped down in needless expenses. Honestly I could halve my income and still be absolutely fine.
Good for you for having an opportunity to get into a mortgage, probably with a low interest rate and at much lower housing prices than where they currently stand. $2k is now the normal rent cost in most major American cities. It’s actually the cost of a studio for cities like NY, LA, San Diego, and Seattle (it may not even be enough for San Francisco).
Shit, I'm at $2700 monthly for a 2 bedroom apartment in Massachusetts with a family... and it's a fucking upgrade, paid nearly that for a 1 bedroom in California. COL makes or breaks a budget.
# Message to all users: This is a reminder to please read and follow: * [Our rules](https://www.reddit.com/r/ask/about/rules) * [Reddiquette](https://www.reddithelp.com/hc/en-us/articles/205926439) * [Reddit Content Policy](https://www.redditinc.com/policies/content-policy) When posting and commenting. --- Especially remember Rule 1: `Be polite and civil`. * Be polite and courteous to each other. Do not be mean, insulting or disrespectful to any other user on this subreddit. * Do not harass or annoy others in any way. * Do not catfish. Catfishing is the luring of somebody into an online friendship through a fake online persona. This includes any lying or deceit. --- You *will* be banned if you are homophobic, transphobic, racist, sexist or bigoted in any way. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ask) if you have any questions or concerns.*
2000 a month is only 24,000 a year
$100k a year is only $70,041 per year after taxes on average. Add a vehicle bad decision and.... Edit Big thumbs.
That’s $45k to play with.
But you also have to add in car payments, car/renters insurance, utilities (which often aren’t included in rent), health insurance payments, student loan payments for many folks, pet/child expenses, etc. Not to mention places with $2k+ rent are typically in areas where groceries and gas are extremely expensive. So that’s WAY less than $45k to play with
As someone who makes 29k a year. You'll be fine. Just don't live
Not everyone has to pay all of that, though. Some people have no children/pets, no student loans and free healthcare through work or what not.
Free healthcare though work? I've only ever heard of your payment for healthcare being deducted from your paycheck. Granted a portion is subsidized by your employer. I just had to switch health insurance carriers at work and plans ranged from $150 - $500 a month for the employee contribution.
I’ve had a couple jobs that completely covered the employee only premium. If you add kids/spouse/family option, you pay for that.
That’s awesome! Out of curiosity: What industry was that in? I find employers in my industry (engineering) love to pat themselves on back and act like they are offering tremendous health benefits when the plans are about equal to State-provided (NY) plans.
A lot of companies offer that. It’s not the “norm” but it’s decently common in a lot of industries. It just might not be the best policy they offer. I’ve always had a plan that was either no additional premium payments or very low payments.
I've had two friends that Healthcare was 100% covered by the employer, for employee, spouse, and children. The downside was that they were paid pretty low, and neither of them had kids, so it was basically a wash.
Union Electrician, here. Healthcare is completely covered for me and my family by my contractor. We pay co-pays and things, but most everything else is taken care of.
Everyone in the military gets free healthcare, for sure (that's where mine comes from). For those that don't, though, I think the **lower** end of that won't really make a dent in $100k+ a year, anyway. Just a note here: My point was not that no-one pays those...but that not everyone has the same situation or has to pay all those things listed by the person I responded to. I pay **none** of those, personally, except for utilities.
Not everyone lives in the US, plenty of places have socialized healthcare.
I mean, the post is talking about USD I assume and employer-provided healthcare so seems to imply we’re talking about the US.
This! Don’t forget retirement. I make $115k and my take home post insurance taxes and retirement is like $67k. Add in bills and saving for a house I get a whole $24k a year for myself out of that big salary
Yes. And if you budget yourself properly (read: don't live in a major metro area and don't waste money on dumb shit) you will still be able to afford it all.
People don’t always have the option to move out of an area that gets too expensive. They might be tied to that area due to their job, their kids/schools, etc. And nowhere in my previous comment did I talk about spending money on dumb shit
>People don’t always have the option to move out of an area that gets too expensive. "I'm going broke paying for rent, but I can't afford to leave! My job pays me too little to live, but I can't afford to leave! And there has never been any kid who has changed schools. Never once in all of history. It hasn't happened and never will!" >And nowhere in my previous comment did I talk about spending money on dumb shit I mean if you're paying for rent in a major metro area, you already are. But then again, I don't want urbanites moving to where I am, so on second thought I take it all back. Please remain where you are so you don't raise the rent prices where I am now. They're pretty reasonable and I don't want that to change.
OK boomer go touch some grass💚
It can be $90k after a roulette game!
Yall use your income before taxes? i don't consider that my income to be my gross income, i go off my take home income
So less than 40% of your disposable income. That's not bad at all
Just grabbing some random numbers, but supposing someone makes $80,000/year and brings home 70% (paying 30% in taxes), their take-home pay in a year would be $56,000. After rent, they'd have $32,000, which would be about $2,666.67/month to spend on the rest of their bills etc..
If you make $2000 per month, and apartments are $2000 per month, that leaves you no money for anything else.
you are good at math!!
Common simple math
Say you. But it’s actually incredibly complicated math!
Also, if you make $2100 per month and apartments are $2000 per month, you have an extra $100 per month.
Well, where do you get the money to pay for the extra fees that come along with the $2100 per month. The apartments have a lot of extra fees that come along with them. And none of the apartments are furnished. So if you have no. Furniture, you are just out of luck and they tell you that you can rent furniture, so that's another payment. Where do you get the money to pay for utilities? Where do you get the money to pay for food? Where do you get the money to pay for insurance? Where do you get the money to make a car payment if you need a car? Where do you? Get the money to pay for unexpected medical expenses if you need medical issues, taken care of.
I used to pay $1560 on $55k, and it was tight. These days it's probably equivalent to $2k on a $85k salary.
Yeah you can do it. I used to pay $1500 on $45k. 425 sq ft studio. Gotta live frugally but you can make it work.
I pay 1200 on 29k. I envy your situation of "tight"
This is Australian though, milk is $7.
I take what I said back knowing this info
I think yours is still worse.
Well around here they don't. Average rent is 2,600. Average income is 55k. So you've got husband/wife both working, or multiple roommates to make it work.
Roommates, multiple incomes (partners), gov. affordable housing and assistance programs. Spending more than 50% of their income on rent and cutting back on everything else (utilising food banks, don’t go out).
You don't get renters assistance if you make anything north of like 25k
It depends on the city; some adjust the limit to “under 25%” of the area's median income. It's not free housing but reduced rent costs (affordable housing units negotiated by the city with the developer).
women who get alimony are screwed, and don't get help, even though she is living in poverty..
Everyone is screwed. I make "too much" in disability to get either renters assistance or EBT. If I put my entire disability into rent it would be about 75% the average rent for the area.
You are in a similar situation I am in it sounds like. I get to much pay, from just one marriage settlement, which means, I am screwed, as an injured, aging, senior citizen. With what I get is poverty, its not loads of money, like people think. However, I still spend 25%-35% more, than what I have coming in, just so I can eat. I don't have an income for buying up new furniture. SO I would be sleeping on the floor of $2000 per month apartment empty, no furnishings. I have no incentive to buy furniture, if I need to move again, I can't afford to move, so why bother buying much household belongings, only to lose them again. I can't get a loan, because I don't have a job. Even tho what I have spent in the past 3 years, is probably close to $65,000 or more, just to shelter myself, in emergency situation, on going since 2021. If I was buying a house, and all the money went to principle, it would be close to halfway paid for. However I have no disposable income for house insurance, which that might be baked in ESGROW , for anything else, utilities, city taxes, county taxes, which a household budget needs disposable income. SO much for that rainy day savings they always told people to save up for. That emergency money, for emergency, or to buy a house. I would need a job, paying $6000-$8000 per month, in order to get into an apartment, which is $2000 per month. They, as in THE JOBS just don't exist.
where I live, we have no food banks or free food for people, no housing assistance.
Where is this?
State of georgia USA
Wow, I would think at least churches do something to help.
The churches don't do anything to help. If they are helping people, it's only the people in their congregation. Or select other people who are part of something that they don't want everybody to participate in or be a part of. Unless corporate media mainstream media is identifying as a church for some reason with part of their business model.
I’m a disabled veteran and using the gi bill, that’s how I do it
Thank you for enduring years of Government BS and your on going navigation of the VA.
Thank you for serving our country sir/ma'am.
My specific apartment is not over 2000 but all of the currently available apartments and apartments being built in my town start at 2200 on average. I make 35k a year and my current breakdown per month for 2 people is: $2900/mo $1650 rent. The property is basically a slum and there are 0 amenities besides 3 washer and dryer units in the office but the area is good. $400 groceries, this includes all misc stuff I might need that month. Like I usually need new work shoes every 6 months. $150 Electric $100 internet $80 gas $200 into savings $30 for subscriptions $140 health insurance $50 prescription with $25 doctor fee every 3 months. I don't have a water bill. I don't have a car payment or car insurance payments because my MIL gifted me the car, but I have to spend a lot to take care of it, and I'm on a family phone plan. If I had my old junker car the 200 savings would be for it's insurance and maintenance. If I have anything left over I'll usually get a video game or dinner, but I don't really go out at all. My rent goes up $100/year and it started at $1350 3 years ago. I've looked into moving but the only apartments that cost less are Low Income properties I don't qualify for, and nicer properties at an equal price have an income requirement I don't meet.
Room mate
This is the answer no one wants to hear. Between 18 and 38 (when I got married and acquired a permanent roommate), I only lived without roommates for four years. Two years were a mistake - I was living beyond my means and went deep into debt. The other two years I just got very lucky and found a decent, cheap apartment. During that time, I lived with over 30 different people. The vast majority of them didn't suck, and many of them were fun people I still call friends.
And or not having kids
Uhhh, i make 58k a year and i can afford that.
My household income is $60k, we pay $2,150 per month for rent and we’re barely making ends meet. We live in an expensive metro area where gas and groceries are atrociously high. Maybe the area you live in allows $58k to be more comfortable
How is the rental unit you have?
Not terrible but not great. It’s a 2BR duplex with a yard which is nice - we live like 30mins outside the city (Seattle) so $2,150/mo gives us more for our $. My friend in the city is paying $2,300 for a studio and my other friend in the city is paying $3,200 for her place that’s the same size with the same features/quality as ours. And our place isn’t great quality. The plumbing/walls/exterior are basically falling apart + it has a mice infestation and the landlords refuse to take care of anything.
Yeaaah, I wish this for me tbh
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Well i just started my career so i'll let you know in 35
wise spending. stop buying shit you dont need and youll always be able to afford your bills. the problem is people spend money out of their means. if you make 30k a year why the fuck are you trying to get a 4 bed 2 bath house? why are you doing payments on a brand nee car? do you really need the new nails and new iphone? the starbucks 2 times a day? when u get your paycheck if you first put money aside for your mandatory bills (rent, phone bill, utilities, gas to get to work) then other important bills (subscriptions, debts) then you split the rest to savings, retirement, and food. you pick how much you want to put aside for your future, and the rest is for food and luxury spending. the amount of ppl i know who are in debt but instead of fixing their car, paying off their credit cards and paying their rent theyre at the bar spending $150 on payday, theyre buying coffee 3 times a day, uber eats, eat out everyday for lunch its absolutely ridiculous. live within your means, and if your means are super low you should obviously prioritize fixing that. when u see broke ppl affording nice apartments, cars, vacations every summer/winter thats called credit cards.
So many people are completely fucking themselves over by ordering half or more of their meals through food delivery apps. The food doesn't even taste good when it gets to you! It makes absolutely no sense to me.
i was at my exes house (dating at the time) and she wanted mcdons. instead of walking 5 blocks down the road and paying thr $5 for the meal, she ordered it on uber eats, waited 20 mins for someone to pick her order, 20 mins for them to pick it up, then paid $15 before tips for a cold meal, just so she didnt have to get out of bed. i may be lazy, but ill never pay money to be lazy thats astronomical
I make 30k a year. I have learned that donating plasma can be good "fuck around income"
definitely a good side income, and youre supporting the community! good on you
I totally disagree you can't budget to prosperity when half the country makes under 45k
there is definitely an inflation problem going on right now, but by no means should a singlr individual be struggling off that income unless theyre living in an unrealistic environment. for single parents i can understand, but 2 incomes at 45k should still be able to live. no where am i suggesting its going to be comfortable living, hell you probably wont get to vacation a lot, however thats a by product of not pursuing higher education, higher income jobs or poor spending habits/life choices.
There is no actual inflation. It's artificially inflated by greedy companies who used Covid as a front to up prices. They since kept them like so.
no way buddy said inflation doesnt exist. not only is inflation a real thing, and has been since before covid, but shrinkflation is real too. youre paying more money for less product than you got 5 years ago. its happening right in front of your eyes, but if you choose to be delusional to whats right in front of you be my guest
I didn't say inflation doesn't exist. I said the one during and after covid is not an actual inflation but an artificial one set up by greedy companies. Learn to read, skibidi.
skibity.. i dont need to ask your age or intelligence
Good bye, skibidi. Can't read and can't articulate a proper response.
Ah yep found the “millennials spending money on coffee and Uber eats is the root of all their money problems” comment
starbucks coffee is average $8 a pop. buy a burger for $3 at mcdons or uber eats it for $15 before tips. your choice, but the key to financial freedom is learning that all those small purchases add up very quickly. go through the last 3 months of your purchases on your bank statements and add up hoe much money youre spending on unnecessary things like that, then learn how you can do it more efficiently for cheaper/if you can erase it entirely. coffee at home is cheaper and smarter. its really not that hard of a concept to understand, but if you wanna stay broke thats not my problem. keep feeding into your temptations
I actually don’t drink Starbucks nor do I use Uber eats. And I know that inflation/the exponentially rising costs of housing/food/gas, etc. compared to the barely rising wages/salaries and the criminal interest rates on student loans aren’t something you can get yourself out of just by drinking coffee at home. But keep preaching those outdated and inaccurate ideas, boomer (:
1/3 for a place is not terrible . in your math is even up to 1/4th . I used to pay half of my salary for my house loan and iy definitely feels way better that its 1/3 now .
Some people live with a partner who also works. And by some I mean a lot.
It creeps up on you. So my landlord increased our rent by $500 as soon as our lease ended. Unfortunately, the cost of moving and all the deposits necessary to get a new place was too expensive. There is actually a class in my area that tells investors to make sure to keep increasing the rent enough that the tenant can technically still afford the apartment (even if that's the only thing they can afford) but can't afford to move. Obviously landlords want and need to make money but some are unethical and manipulative.
Its a total mystery to me... I pay one third 1/3 of my salary in rent, and I almost go minus every month.
You don't buy all the stupid shit you would like to buy.
Sex
Don’t own a vehicle if possible.
Lower your debt to income ratio.
lol with what money if housing costs are making it impossible to get by?
🤷♂️ It's revolution then. To the barricades!
Here for this
✊️
Oh goodness, I’m going to have to do $1300 on $42k, am I boned ?
That’s pretty expensive rent. 850 was a lot for me renting a room and I made about the same. I had a job I worked 60 hour weeks and I paid a bit north of 1k and it felt like too much, but had some room for groceries and occasional fun. Still kinda paycheck to paycheck.
lets say you make 75k... $2,000 × 12 = $24,000 That falls in line with the common 30% income for housing equation and shouldn't be an issue. If you have a roommate, the rent is cut in half and you get away with making much less.
Not exactly hard with the right priorities. Many people get thru with way less and kids
2000 x 12 = 24,000/yr Add a roommate = 12,000/yr
We bought my stepdaughter a 2 bedroom / 2 bath 1 car garage condo with us as owners and pay a $1,900/month mortgage. My stepdaughter Zelles around $1,000/month which covers condo fee, property tax, condo insurance, and electric & broadband. The condo fee includes heat, hot water, water, and sewer plus natural gas for the gas fireplace insert. The total cost is around $2,800 per month. When we bought it 3+ years ago, the cost was around $2,600/month and market rate rent was a similar $2,600/month. Market rate for renting it now would be $3,500 to $4,000. It’s appreciated around 1.5x what we paid for it. My stepdaughter would be dealing with roommate hell otherwise. It would be challenging to find a room in a house for $1,000/month and that wouldn’t include utilities.
The rule of thumb is that housing should be less than 1/3 of your income.
If only we all could afford to make that happen.
They don’t, at least not alone/without help.
I wish rent was only 2k
Best days of my life was when I had a bunch of roommates. I don't know why people act like they NEED to live on their own. a little over 15 years ago... 4 couples split the cost of a 4 bedroom double wide about 20 minutes out of town. My share of all the bills was less than $300 per month. And I was living good... two living rooms big kitchen, big chunk of land, it was great, hundreds of channels on the tv, ... if I didn't have kids, I'd still be living like that.
I seems like you got kinda lucky, big draw backs I’ve seen are crappy or unreliable roommates.
We were lucky in the sense that we were all friends/coworkers... so we knew each other going in. But that is the downside I suppose with dealing with strangers, is you're probably going to be dealing with people with evictions, don't pay rent anyway, as potential roomies. But it's still a seldom mentioned option. People act like having roomies is unheard of, or something they shouldn't have to deal with. But it's always been a thing for generations.
Affordable housing.
Roommates. And 2000 is cheap af where I’m At
I have been asked to move from a low cost small town to suburban Chicago. At $87,000/year, with a $400 car payment, $2000 rent and the usual expenses I would have a few hundred bucks “extra”. And that is with no kids and no spouse. The whole apartment thing at this stage requires a working spouse or roommate to be reasonable. It is a real challenge to live alone in a HCOL city.
Honestly, as a couple we make a LITTLE over 100k between the both of us and people think we're rich lol. We have no car payments We have no CC debt. Our mortgage is 1750 a month. Home is 9 years old and is 2800 sq ft on 3/4 acre. We bought at the right time. We don't have any bad habits. We don't eat out a lot and meal prep. People just live beyond their means. We live very well but auto insurance has started to hit us hard. GEICO wants 2500 for 6 months for cars that are 9 and 10 years old. We have no tickets, accidents or claims. Besides the auto insurance and grocery prices we're doing well.
roommates
They stay single
SIDE JOB
Only Fans ( ͡° ͜ʖ ͡°)
The same way I see people making minimum wage buying top of the line iPhones: either borrowing or from mom and dad.
😂 what does that even have to do with this post?
I mean people are always living beyond their means but they can find ways to do it. The OP is asking how someone can afford an expensive apartment (his idea, not mine). I'm saying how. It's often due to borrowing or they get money from someone else. Or do you know how people pay for something expensive that they don't have enough money for? I'm open to ideas;)
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Ok, so I don't know what the issue is. I guess the answer to OP's question would be: "They just use their salary and pay it." Problem solved;)
It's only like $30-40 a month to have the latest iPhone. Not that crazy.
Right. I suppose its all of it together that adds up.
Avocado toast too
I make over 100k a year and about 6.5k actually goes into my account each month. I actually only spend 1.2k on rent but if I had to stretch to 2k, it would still leave me 4.5k a month. Actually very affordable.
Same boat. I own my 8 year old car, liability insurance, and I live 5 min away from everything so gas is cheap. I have an IPhone 11 I paid off years ago…. But they’re not ready to sacrifice new new new yet
Not sure why my reply was voted down but hey ho. Yeah, I have a 2012 Ford S-max. I have nothing on finance at all. Really outside of rent and utilities & food etc, my money is my own. I also have a really old Iphone with a huge crack on the back. Financial security isn't all about your income. It is about not getting swamped down in needless expenses. Honestly I could halve my income and still be absolutely fine.
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Good for you for having an opportunity to get into a mortgage, probably with a low interest rate and at much lower housing prices than where they currently stand. $2k is now the normal rent cost in most major American cities. It’s actually the cost of a studio for cities like NY, LA, San Diego, and Seattle (it may not even be enough for San Francisco).
Ok big cities I know, fuckin expensive for normal ppl. With the wages ya need to have a normal life, it’s ridiculous nowadays
$2k in Central NJ 2 bedrooms (one extremely small).
Shit, I'm at $2700 monthly for a 2 bedroom apartment in Massachusetts with a family... and it's a fucking upgrade, paid nearly that for a 1 bedroom in California. COL makes or breaks a budget.