North Dallas/Far North Dallas (Plano, Richardson: apartment, lease, health insurance)

[ynattirb]

Do you think it would be possible to survive in a nice 1 bedroom apartment on around 55,000 a year? I know there are other things involved-car payment, student loans etc...

Plano, Richardson, Mckinney, Far North Dallas (Lake highlands, NE Dallas, Hamilton Park, etc.)

Starting to freak about because I am essentially taking almost a $10,000 pay cut from where I live now where the cost of living is higher.

[DAX_]

No

[TurtleCreek80]

Originally Posted by ynattirb

Do you think it would be possible to survive in a nice 1 bedroom apartment on around 55,000 a year? I know there are other things involved-car payment, student loans etc...

Plano, Richardson, Mckinney, Far North Dallas (Lake highlands, NE Dallas, Hamilton Park, etc.)

Starting to freak about because I am essentially taking almost a $10,000 pay cut from where I live now where the cost of living is higher.

Yes, it's possible- and you would be more than "surviving". Your net monthly pay after 6% 401k and a $300/mo health insurance would be in the $3300 range.

Allocate $1000-1200/mo for rent and another $250 for apartment bills including cable/internet and you have about $2000 left each month for car,, food, fun, saving and other expenses. If you don't have a $500/mo student loan, aren't drowning in debt, and don't lease a Range Rover, you should be able to have a nice life in North Dallas or the northern suburbs. If you do have high debt, you'll probably want to find a roommate.

[RJ312]

You should be able to survive.

[UnfairPark]

With this income alone, it wouldn't he easy to get out of debt cycle without a second job. Instead of taking a pay cut for a higher COA metroplex, stay where you are, save money, be frugal, get a second job and pay off debt. Once you are debt free, move to new town and start a new life.