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OK, so this girl should move an hour away from work, where she'll have no access to the bus or train. She can cut her rent by about $700 per month, yet she will have to buy a car, car insurance, and gas at this point. How does that even make sense? I'm not sure how "location" to your job is a "want" when you've done the math and figured out that the place you live is the most affordable option already.
Well, I'll take that back. She *could* move back in with her parents, take her rent down to about $200 per month, also live an hour from work but net a profit even after purchasing a car, car insurance, and gas. But then she'd get slammed for being a 20-something college graduate still living in the basement with mom and dad. You can't win on this board.
Actualy what she does is not my concern. I mentioned what I do. Personaly if I was her I would buy a house and keep the roomates.
$60k a year for a single person is about $3k a month after taxes and 401k.
Her rent is 20% of gross. If she has no debt and no car, she spends a lot of money at the bar or the mall.
She actually saves most of it and then pays for her advanced degree.
My point is that if she were making $5,000 less ($55,000) and did NOT have a roommate, she would not being doing any of these things. That is not my definition of "decent money" as the OP posited. That is just "getting by."
OMG, what a question...I've never made as much as $20,000 in one year, so sure, on $55,000 I would have way more money than I would know what to do with, which means I would wind up with a ton of money socked away, plus I would be able to OWN A HOUSE for not much more than I am paying to RENT A FREAKING ROOM..
Actualy what she does is not my concern. I mentioned what I do. Personaly if I was her I would buy a house and keep the roomates.
Yes, I know people who have bought a house, kept the roommates, and lived in the house for free...after a couple years they were not only living in the house for free, they were making money on the deal...plus by owning it, they got to decide who their roommates were which beats the pants off the deal I have now, where I am renting a room and have NO CONTROL over who my roommates are.
All the people who live in and near cities will tell you that $55,000 is not enough.
All the people that live in rural areas or small towns will tell you that $55,000 is more than enough and that if you can't live on that you are irresponsible.
Wrong, I live in a city and would feel fabulously rich on $55,000 a year.
It depends how one lives his/her lifestyle. I can say though that would be the perfect salary for me at least.
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