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LIVING OFF A $40,000.00 SALARY--IS IT POSSIBLE?
Poast new message in this thread
Date: October 6th, 2015 3:50 PM Author: 180 cobalt point http://money.usnews.com/money/blogs/alpha-consumer/2011/09/22/the-secret-to-living-well-on-40000-a-year
I think the biggest thing I have learned is if broke people are making fun of you and laughing at your ways, then you are doing something right. It was difficult to get mocked when Tracy was working and we chose to live off one salary while others were spending like there was no tomorrow. Many people told me to get off my wallet and spend money.
Pride is sometimes a hard thing to swallow, but I knew that many of these people were not making smart financial decisions and these decisions would eventually come back and hurt them. I don't know if it is unusual advice but, when making financial decisions, you have to do what is right for you and not be influenced by the many temptations that surround us. |
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Date: November 11th, 2015 5:20 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29160964) |
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Date: October 20th, 2016 7:57 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#31692159) |
Date: October 6th, 2015 5:15 PM Author: razzle newt It's easy if you have a pension or don't save for retirement. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913026) |
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Date: October 6th, 2015 5:18 PM Author: 180 cobalt point How much salary is needed to save for retirement annually? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913050) |
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Date: October 6th, 2015 5:21 PM Author: razzle newt Largely depends on when you want to retire.
If you're planning on retiring (or being able to retire) in your 50s, you'll probably need to save around 50% of your post-tax income. |
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Date: October 6th, 2015 5:23 PM Author: 180 cobalt point Which would be like 70k? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913092) |
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Date: October 6th, 2015 5:29 PM Author: self-centered vibrant location incel lmao better find a career you don't want to retire from (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913146) |
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Date: October 6th, 2015 5:32 PM Author: razzle newt No such thing. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913168) |
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Date: October 6th, 2015 5:33 PM Author: 180 cobalt point How about motha-fuckin JUSTICE on SCOTUS, shitcon? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913184) |
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Date: October 6th, 2015 5:37 PM Author: razzle newt Good work if you can get it. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913231) |
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Date: October 6th, 2015 5:39 PM Author: milky space jap (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913242) |
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Date: November 2nd, 2015 1:06 PM Author: olive blathering goal in life dilemma (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094014) |
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Date: April 13th, 2016 4:00 PM Author: Glittery brass national 180 FULL NATIONAL EMPLOYMENT IDEA: just keep making SCOTUS bigger until everyones employed (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30265357) |
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Date: April 13th, 2016 4:34 PM Author: bull headed beady-eyed heaven rigpig (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30265609) |
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Date: October 6th, 2015 5:19 PM Author: House-broken property if you run up yer credit cards (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913055) |
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Date: October 6th, 2015 5:27 PM Author: 180 cobalt point elaborate, shitlib. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913122) |
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Date: October 6th, 2015 5:29 PM Author: self-centered vibrant location incel (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913147) |
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Date: October 6th, 2015 5:36 PM Author: House-broken property spend more than you earn (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913212) |
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Date: October 13th, 2015 5:25 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28959305) |
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Date: October 6th, 2015 5:21 PM Author: self-absorbed spruce business firm if you weren't taxed at 30% it might be easier. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913069) |
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Date: October 6th, 2015 5:21 PM Author: 180 cobalt point So its a regressive taxation system? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913075) |
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Date: November 2nd, 2015 1:26 PM Author: self-absorbed spruce business firm regressive? - you can't just make up new words (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094114) |
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Date: November 10th, 2015 4:52 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29152844) |
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Date: October 6th, 2015 5:22 PM Author: Opaque Parlour The avg person does so yeah (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913085) |
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Date: October 6th, 2015 5:34 PM Author: Exhilarant sanctuary Avg person lives in Kokomo Indiana so yeah (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913192) |
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Date: October 6th, 2015 5:52 PM Author: Mildly autistic turquoise resort voyeur (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28913344) |
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Date: October 6th, 2015 10:23 PM Author: vengeful mentally impaired rehab tank lol just googled that, it's actually a real place (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28915363) |
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Date: April 13th, 2016 4:34 PM Author: bull headed beady-eyed heaven rigpig (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30265611) |
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Date: October 6th, 2015 7:04 PM Author: irradiated indecent corner pervert Ramen noodles 24/7
Your tapeworm will LOVE it |
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Date: November 2nd, 2015 11:26 AM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29093405) |
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Date: April 9th, 2016 10:36 AM Author: House-broken property (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30234612) |
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Date: October 6th, 2015 8:27 PM Author: trip gay jew locus if you dont have a mortgage or rent, yeah (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28914359) |
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Date: October 6th, 2015 10:19 PM Author: irradiated indecent corner pervert Also, ramen noodles and tapeworm (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28915322) |
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Date: October 6th, 2015 10:23 PM Author: Curious Useless New Version Theater Stage eazy-e, youngblood (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28915366) |
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Date: October 9th, 2015 9:36 AM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932264) |
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Date: October 9th, 2015 9:45 AM Author: insane brindle doctorate goyim Is this a joke? Even in NYC, it's incredibly easy provided you have little/no debt and no one else to support. Of course, don't expect to have your own place and don't expect to hit up high-end bars/clubs/lounges/restaurants or take a bunch of nice vacations. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932306) |
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Date: April 11th, 2016 1:10 AM Author: sinister dashing senate This / if just u and ok with prole life ez (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30246402) |
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Date: April 13th, 2016 4:00 PM Author: Glittery brass national (guy who thinks you have to buy expensive shit to be non-prole) never heard of an impoverished patrician? |
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Date: October 9th, 2015 9:47 AM Author: odious pozpig turdskin Yeah, but it's not very pleasant at times. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932319) |
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Date: October 9th, 2015 10:06 AM Author: 180 cobalt point how much are u making every two weeks on a 40 grand salary (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932406) |
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Date: October 9th, 2015 10:07 AM Author: odious pozpig turdskin Usually around $1200 net. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932416) |
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Date: October 9th, 2015 10:11 AM Author: 180 cobalt point Is that decent? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932448) |
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Date: October 9th, 2015 10:12 AM Author: odious pozpig turdskin It's a borderline living wage for my area. Better than nothing, I guess. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28932454) |
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Date: November 2nd, 2015 1:09 PM Author: appetizing becky SHUTUP SHUTUP YOU ASSHOLE I-BANKER. YOU MOCK POOR PEOPLE EVERYDAY WITH YOUR DUMB SHTICK. I BET YOU DONT EVEN LIKE COCK EITHER. YOU'LL BURN IN HELL DICKWAD. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094030) |
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Date: November 2nd, 2015 1:40 PM Author: odious pozpig turdskin ? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094193) |
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Date: November 2nd, 2015 1:46 PM Author: self-absorbed spruce business firm how does one develop such a potty mouth (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094237) |
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Date: October 9th, 2015 1:26 PM Author: Cracking quadroon It is possible to live on almost literally amount of work income. You just have to dip your standard of living tremendously when it gets to $40K/year. How far people are willing to dip their standards varies from individual to individual, so you'll get a lot of people saying "yeah of course" to people saying "no fucking way"
TL;DR - this is a stupid fucking question. |
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Date: October 9th, 2015 3:36 PM Author: 180 cobalt point how do you know its decent for you? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#28934583) |
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Date: October 9th, 2015 7:58 PM Author: Cracking quadroon Just figure out what you can afford bro. $40K (notwithstanding loans/unusual expenses) in MFH (assuming this since that's like this whole board) means trying to find housing for ~$1K or less. Are you fine with living north of 100th with roommates? Or deep Brooklyn, Queens, the Bronx? Can you stand a long commute? If not, are you willing to live in an illegal subdivision in a window-less room, with roommates, a little bit closer to wherever you work? Are you OK with shopping at C-Town or do you really need Whole Foods? etc. etc.
$40K isn't even THAT bad, I know people who did MFH with less. |
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Date: November 2nd, 2015 1:05 PM Author: stimulating casino fanboi You can literally survive but the article suggests you can live "well" which is complete flame. If the guy provided a budget whatever point he would be trying to make would be exploited as BS (e.g. they inherited a house with no mortgage).
Just think about it. Net pay married with 4 kids is something like $36k or $3k per month. To live "well" you'd need at least a 3 bedroom place which is going to be at least $1,500 per month in rent for any kind of acceptable town/city. That leaves you with $1,500 to pay utilities, health insurance, car insurance, food, gas, clothing, car payment etc. for 2 adults and 2 kids.
You will survive but on what planet will you "live well"? and forget about enrolling your kids in any activities or saving for retirement, college. |
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Date: November 2nd, 2015 1:06 PM Author: 180 cobalt point good points.
Let's say you are making a 40K salary with just a wife. Do you invest residual income? If so, in what? |
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Date: November 2nd, 2015 1:17 PM Author: razzle newt In a cheaper, small area, you'd be able to find a house for $100,000 to $150,000. With 20% down and normal taxes and insurance, your total payment would be something like $700 per month, instead of $1,500.
But you're still going to be fucked for retirement. |
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Date: November 2nd, 2015 2:58 PM Author: Stirring faggotry brunch http://www.mrmoneymustache.com/2015/01/16/exposed-the-mmm-familys-2014-spending/
http://www.mrmoneymustache.com/2014/01/12/exposed-the-mmm-familys-2013-spending/ |
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Date: November 2nd, 2015 1:06 PM Author: coiffed kitchen It's easy, I don't mind at all or hold back because I know eventually I'll get a massive pay increase. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094008) |
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Date: November 2nd, 2015 1:07 PM Author: 180 cobalt point what do you invest in, shitlib? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094017) |
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Date: November 2nd, 2015 1:43 PM Author: coiffed kitchen Vanguard (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094217) |
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Date: November 2nd, 2015 1:11 PM Author: Lemon Boyish Headpube like, per month? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094038) |
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Date: November 2nd, 2015 1:11 PM Author: amber den brethren if you can't you're a spoiled faggot (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094041) |
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Date: November 2nd, 2015 1:12 PM Author: 180 cobalt point elaborate how u would budget on a 40k salary, shitlib (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094043) |
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Date: November 2nd, 2015 2:42 PM Author: self-absorbed spruce business firm there is no possible way - you realize that's like 25k after taxes (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094617) |
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Date: November 2nd, 2015 2:59 PM Author: deep slap-happy shrine of course it's possible. many people do this, with families no less (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094726) |
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Date: November 2nd, 2015 3:06 PM Author: self-absorbed spruce business firm lol with families?? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094780) |
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Date: November 2nd, 2015 3:09 PM Author: self-absorbed spruce business firm that's like $400 per week - not joking - and you claim having a family on this income is acceptable? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094802) |
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Date: November 2nd, 2015 3:13 PM Author: self-absorbed spruce business firm (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094831) |
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Date: November 2nd, 2015 3:20 PM Author: deep slap-happy shrine didn't say it was acceptable, but certainly possible. I know many people like this, with gf/1-2 kids, etc. It sucks, but they manage. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094881) |
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Date: November 2nd, 2015 3:20 PM Author: 180 cobalt point actually its about 1200 every two weeks. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094885) |
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Date: November 2nd, 2015 3:30 PM Author: self-absorbed spruce business firm keep dreaming! slim, that's a 50k salary. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094948) |
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Date: November 2nd, 2015 3:31 PM Author: 180 cobalt point Since there are 12 months in a year, you can estimate the average monthly earnings from your $40,000 salary as $3,333.33 per month. Of course, some months are longer than others, so this is just a rough average. If you get paid biweekly, you may get 2 checks in one month and 3 checks in another, so some calculators look at a month as a 4-week period, with 13 of these periods in a year. In that case, you would be getting $3,076.92 per 4-week period.
What about each week?
Assuming 52 weeks in a year, you would make $769.23 per week. You can check how many weeks in a year to get the exact number. |
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Date: November 2nd, 2015 3:39 PM Author: self-absorbed spruce business firm www.top-law-schools.com. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29095009) |
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Date: April 9th, 2016 11:18 AM Author: laughsome organic girlfriend church It's impossible in a place like NYC unless you're single with 2 roommates.
But $40k is probably what the average family makes in flyover, and they survive. This is around $2500/month in a flyover state (not NYC or CA, etc).
Starting: $2500/month
-$850/month for rent and utilities (http://www.zillow.com/homedetails/2014-Eastview-Ave-Dayton-OH-45405/35091558_zpid/)
-$350/month to lease a Toyota or a Honda + insurance + gas
-$400/month on groceries for a family of 4 (lots of pasta, wonderbead, and bologna; no organic quinoa or saffron for you).
-$200/month for subsidized obamacare insurance
-$300/month for clothing and incidentals
-$200/month for entertainment
=$200 a month in your sad savings account.
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Date: November 2nd, 2015 1:38 PM Author: self-centered vibrant location incel Literally impossible. I can barely survive on 110k (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094187) |
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Date: November 2nd, 2015 3:17 PM Author: 180 cobalt point give a breakdown of your monthly bills, shitlib. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094858) |
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Date: November 2nd, 2015 2:46 PM Author: nighttime aqua pit did this from like age 22-29. i make six figs now but back then i got by just fine. if you have no kids that's a very livable income. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29094643) |
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Date: November 10th, 2015 4:58 PM Author: 180 cobalt point How much are u/were u making at that salary? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29152903) |
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Date: November 10th, 2015 4:58 PM Author: pearly tantric therapy explain shitlib (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29152907) |
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Date: November 10th, 2015 4:59 PM Author: 180 cobalt point I'm asking a question, shitcon. Is it feasible/possible? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#29152913) |
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Date: April 9th, 2016 10:14 AM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30234556) |
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Date: April 9th, 2016 10:18 AM Author: laughsome organic girlfriend church Reminder: median household income in the US is $52,000. That's insane. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30234566) |
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Date: April 11th, 2016 10:46 AM Author: 180 cobalt point does that include both partners working? or just the man (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30247600) |
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Date: April 9th, 2016 10:28 AM Author: Vermilion Water Buffalo lol @ the "ELITE" education in this thread.
all u need to know is the annuity and time value of money formulas.
$40k is certainly doable if you pay off the mortgage in 5 years, easily doable with a second income. |
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Date: April 9th, 2016 10:29 AM Author: aphrodisiac chrome weed whacker isn't that what a lot of government workers make in DC/NOVA and all around the country. they get by somehow. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30234593) |
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Date: April 9th, 2016 10:32 AM Author: gaped mad-dog skullcap No problem while your husband is earning $250k plus. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30234597) |
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Date: April 9th, 2016 11:24 AM Author: orchid titillating chapel hairy legs (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30234749) |
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Date: April 10th, 2016 3:32 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30242167) |
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Date: April 11th, 2016 1:07 AM Author: cordovan hell kitty 75k debt in political science UG ---> 200k debt for HKS grad degree ---> moves to DC to make 40k a year for a "prestigious" non profit.
Lol just lol. America done here |
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Date: April 11th, 2016 1:38 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30248847) |
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Date: April 13th, 2016 3:55 PM Author: 180 cobalt point (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30265302) |
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Date: April 13th, 2016 3:58 PM Author: Glittery brass national yes my wife and i did it while she worked and i didn't, and we serviced both her student loans and mine admittedly neither of us had insane loan debts, tho, and hers were taken on entirely because she felt guilty about her parents paying cash for her med school |
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Date: April 13th, 2016 4:12 PM Author: Sticky Faggot Firefighter Sure, if you have a trust fund or welfare of something. (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#30265477) |
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Date: October 20th, 2016 7:59 PM Author: Nofapping Roast Beef olds do this; why cannot you? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#31692176) |