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LIVING OFF A $40,000.00 SALARY--IS IT POSSIBLE?
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Date: October 6th, 2015 3:50 PM Author: Thriller beta den 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: Thriller beta den (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: Thriller beta den (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#31692159) |
Date: October 6th, 2015 5:15 PM Author: Aquamarine metal spot trump supporter 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: Thriller beta den 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: Aquamarine metal spot trump supporter 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: Thriller beta den 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: Charismatic infuriating space 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: Aquamarine metal spot trump supporter 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: Thriller beta den 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: Aquamarine metal spot trump supporter 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: maize gas station (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: gay theatre (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: Pea-brained slap-happy locale laser beams 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: Sepia Curious Public Bath Queen Of The Night (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: garnet faggot firefighter set 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: Thriller beta den 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: Charismatic infuriating space (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: garnet faggot firefighter set 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: Thriller beta den (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: crusty crawly stead masturbator 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: Thriller beta den 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: crusty crawly stead masturbator 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: Thriller beta den (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: cracking high-end forum gay wizard 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: magical multi-billionaire 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: Dashing idiot (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: hairraiser state filthpig 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: Sepia Curious Public Bath Queen Of The Night (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: Bat-shit-crazy trailer park Ramen noodles 24/7
Your tapeworm will LOVE it |
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Date: November 2nd, 2015 11:26 AM Author: Thriller beta den (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: garnet faggot firefighter set (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: Lake partner macaca 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: Bat-shit-crazy trailer park 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: Pearl unholy half-breed 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: Thriller beta den (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: Ivory Mewling Stage Associate 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: Comical mexican new version 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: Pea-brained slap-happy locale laser beams (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: onyx 180 persian 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: Thriller beta den 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: onyx 180 persian 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: Thriller beta den 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: onyx 180 persian 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: Shivering parlour dragon 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: onyx 180 persian ? (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: crusty crawly stead masturbator 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: exciting plum telephone 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: Thriller beta den 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: exciting plum telephone 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: vibrant violet hunting ground 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: Thriller beta den 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: Aquamarine metal spot trump supporter 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: Bipolar Jewess 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: Arrogant mind-boggling patrolman 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: Thriller beta den 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: Arrogant mind-boggling patrolman 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: brilliant field potus 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: Histrionic Talking Windowlicker Box Office 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: Thriller beta den 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: crusty crawly stead masturbator 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: Cerebral navy stag film twinkling uncleanness 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: crusty crawly stead masturbator 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: crusty crawly stead masturbator 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: crusty crawly stead masturbator (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: Cerebral navy stag film twinkling uncleanness 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: Thriller beta den 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: crusty crawly stead masturbator 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: Thriller beta den 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: crusty crawly stead masturbator 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: Orange Ungodly Sanctuary Regret 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: Charismatic infuriating space 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: Thriller beta den 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: Cyan indian lodge 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: Thriller beta den 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: Electric tripping hell goal in life 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: Thriller beta den 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: Thriller beta den (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: Orange Ungodly Sanctuary Regret 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: Thriller beta den 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: dun diverse water buffalo ape 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: razzle-dazzle mahogany really tough guy national security agency 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: Haunting white base clown 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: vigorous chest-beating nibblets (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: Thriller beta den (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: trip personal credit line people who are hurt 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: Thriller beta den (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: Thriller beta den (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: Pea-brained slap-happy locale laser beams 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: Chartreuse Duck-like Brethren Plaza 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: Swashbuckling resort olds do this; why cannot you? (http://www.autoadmit.com/thread.php?thread_id=3010166&forum_id=2#31692176) |