Difference between 25k and 35k a year (Chicago, Joliet: section 8, car insurance)

[hxcobd]

Originally Posted by celim

Can anyone else backup the reputation of an alternative electricity company like bluestar? Hopefully I can get utilities included but I wont count on it.

And as for research, I plan on using craigslist as a starting point, but what's your guys' preferred point of reference? Size, while nice, isnt as important as layout (well partitioned bedroom from kitchen, etc) state of repair, location from cheap groceries, and surrounding area. I would like to be near people my age, but not in the middle of the nightlife area.

I'm also alright walking up to a mile to get to a station, I walk that distance daily as it is.

And thanks for all your replies! Here's some rep!

Bluestar uses Comed for the actual delivery and usage of the power. They simply slice through Comed's BS price increases, so your monthly bill is about 10-15% lower.

I also walk a mile per day to get to/from Union Station. I actually walk 4 miles round-trip per day on my total commute. But considering I pay literally about $300 less on my transportation costs than my friends with cars... Totally worth it.

[eevee]

Originally Posted by celim

Can anyone else backup the reputation of an alternative electricity company like bluestar? Hopefully I can get utilities included but I wont count on it.

And as for research, I plan on using craigslist as a starting point, but what's your guys' preferred point of reference? Size, while nice, isnt as important as layout (well partitioned bedroom from kitchen, etc) state of repair, location from cheap groceries, and surrounding area. I would like to be near people my age, but not in the middle of the nightlife area.

I'm also alright walking up to a mile to get to a station, I walk that distance daily as it is.

And thanks for all your replies! Here's some rep!

honestly, you can get almost all of that in East Humboldt Park. yes, it has its issues (do your research since everyone's tolerance for grittiness varies) but for me:

-w/in a mile a 3 blue line stops (California, Western, and Damen. the blue line runs at a diagonal, so almost all of these stops are equal distance of me)

-w/in a mile of Cermak Produce and Aldi's. I've also technically walked to the Jewel's on Ashland, but it's easier to take a short bus ride. I also take the North Ave bus to Stanley's (super cheap, but not as convenient as Cermak)

-w/in a mile of Damen/North/Milwaukee and all the bars and clubs there. I can walk there in about 15 minutes and stumble home drunk (w/ friends of course. be safe) later

-not a ton of younger people like Lakeview, but they exist. EHP is "up and coming" and there are a lot of condo owners and yuppies, along w/ hipsters and college students. my roommates and I ran into quite a few neighbors as we all walked over to Wicker Park Fest last weekend

this is just one area as an example. you could probably find similar in other cheaper areas that will give you more bang for your buck then Lakeview/Lincoln Park/Wicker Park

[hxcobd]

Originally Posted by Chi-town Native

so there's your difference between $35K and $25K. maybe - River North isn't the Loop.

Although it's possibly more expensive, so that doesn't mean anything.

shoot, I've never had cable - I just think it's a waste of time AND money.

btw, OP stated he/she doesn't drink, so your 40s concept sadly will not be helpful.

how often do you eat out on that budget? your rent must be a pretty sweet deal indeed.

Regardless of actual physical location, pretty much anywhere in Chicago is going to be cheaper than the Loop/River North/Gold Coast/Streeterville area, but I see what you're saying.

Point is you could realistically cut my rent in HALF and find a place for that price in some of the cheaper neighborhoods.

I was eating out (fast food) on a daily basis until I stopped. Not so much for financial reasons as a recent cholesterol test... Yikes.

[NYrules]

Originally Posted by MannheimMadman

Your Pay Check Results Bi-weekly
Gross Pay
$961.54
Federal Withholding
$100.91
Social Security
$59.62
Medicare
$13.94
Illinois
$28.85
Net Pay
$758.22

**And this is without any health insurance and ZERO deductions.

For reference, I make a wee bit more than this when all is said and done. It sucks because I make in the low 30's, but I have to pay for medical insurance on myself and my son. Not to mention I also have to give up 20% of my pay for child support.

But, alas; I still manage to make it with room to spare. I don't have cable or any other luxuries, and I make do with basic necesseties.

Very well said! You couldn't have hit the nail on the head any harder... HEALTH INSURANCE!!! UGGHH! It's like $454 a month for mine and that's with a $5000 deductable and an 80/20 split and Rx coverage (Thank God because those are a complete rip now even at Wally World!). I know it sux. As I always jokingly say, "Don't worry, our Messiah will fix it" LOL! DOPE! (In Homer Simpson voice)

[Chi-town Native]

Honestly, I think a studio might be fine, but keep your eye on the apt listings if you go that route to get a feel for what's out there. Most people I know who move to Chicago don't spend much time indoors at first anyway, there's too much to see and do (free stuff as well!).

[Lookout Kid]

I think the lesson here is that it is all about your priorities. If you absolutely must go out to the trendiest restaurants, bars, and clubs multiple every weekend, that will cut into your budget in a town like Chicago. If you absolutely must have the latest clothes each season, that will cut into your budget. If you must own a car, that will cause a lot of expense and headaches. I don't think car ownership is really possible in this city with the $25K scenario. Even if you don't pay for a parking spot, you will unevitably have a bunch of parking tickets over the course of a year.

[aragx6]

Originally Posted by Lookout Kid

I think the lesson here is that it is all about your priorities. If you absolutely must go out to the trendiest restaurants, bars, and clubs multiple every weekend, that will cut into your budget in a town like Chicago. If you absolutely must have the latest clothes each season, that will cut into your budget. If you must own a car, that will cause a lot of expense and headaches. I don't think care ownership is really possible on the $25K scenario. Even if you don't pay for a parking spot, you will unevitably have a bunch of parking tickets over the course of a year.

Honestly if you wanted to do that you'd need at least 50k. At 25k you'll rarely get to go out anywhere, even cheap diners, and you won't be cooking with many nice ingredients either.

I never said it's impossible btw, only that I really question the quality of life

[Lookout Kid]

I can say I wouldn't want to live here on $25K. To be honest, I never made that little in Chicago. Even as a temp a decade ago, I was clearing more than $30K. Heck, unemployment paid more than $25K a year with my dependent allowance.

My wife moved here in 1996 and made $19K... But she slept on a friend's couch in Lincoln Park and ate a sack of potatoes for a month. Of course, she had a good time at the bars at that age! You kind of learn where the drink specials are, and plan your social life accordingly.

[binarybelle]

A friend of mine who is a grad student lives on 24k a year. I do not know if he is exempt from taxes but he found a studio apartment in wicker park for 700 and although he isn't flying high he is living reasonably ok for our age. Is this typical?

I'm a graduate student. I live 'comfortably' (highly subjective term) on a $14,000 stipend (for nine months of work) plus about ~$4,000 in student loans every year for a cushion. My health insurance is paid for by the university which takes out a major expense, plus my transportation expenses are paid for with a UPass. I also work in the summer to supplement this income. When I say 'comfortably,' it means I share a one bedroom apartment with my boyfriend, live without a car, air conditioning and cable TV, but can still afford to eat out occasionally, take a weekly yoga class and can usually tuck away about $100 in savings every month. I don't often buy new clothes but I do buy new accessories (shoes, scarves and bags) which gives the illusion of changing your wardrobe for the season/trend without having to splurge (if you care about that sort of thing). I use the student loans to travel to conferences and to take a one week budget holiday per year.

I usually have extra funds left over at the end of the year, but keep in mind I am very frugal. No fancy cell phone and the cheapest plan I can buy, etc. If you can cut yourself down to the bare necessities, it is possible to live 'well' with what's leftover. You just have to prioritize.

[Lookout Kid]

Originally Posted by binarybelle

No fancy cell phone and the cheapest plan I can buy, etc.

Yeah, seriously. This means no iPhone with AT&T data plan. I'm shocked at how many entry-level workers I see with each new updated iPhone that comes out. Yet they have no 401K contributions. Just dumb.