Salary 40-50k seriously (San Francisco, Napa: apartment, to rent, health insurance)

[Frussellh]

So I've been carousing the forums and there seems to be absolutely no consensus about what a livable salary is in SF. I am a recent college graduate from a top ten school, I'm moving out there to be with my girlfriend in early June and I don't think I'm going to have any problem landing between 40-50k. On a salary of 45k after CA and FED taxes (roughly 7500$) you have 37500 left.

From what I see on craigslist, I can get a room with house/roommates for 500-700 dollars a month in the city. If rent is 700, so minus 8400, that leaves you after taxes and rent with a disposable income of $29100. Let's assume that you eat at home like most normal people at least 10 meals a week. If that's $300 a month on groceries, then we have $25500 left. Ok so maybe we need to factor in utilities in my shared house. ok minus another $1200 for the year here we are at 24300. Ok for what I'm used to, i.e. living like a college student that's totally acceptable as disposable income and in fact, I think ill be able to afford massive partying every weekend as well as eating out lunch most of the time, going to Napa, maybe flying out of town every now and then, and even a european vacation. So seriously people, Enough bitching. It is entirely possible to live in San Francisco on 40-50K a year.

Anyone disagree?

[CityGirl72]

You are totally right

I think most of the bitching comes from people who want to buy - or that have families (remember kids cost lots of money)

So now imagine you are a single mom who graduated from a top ten school (like I did too) and trying to raise children on your salary

[sliverbox]

Honestly- your estimates are very conservative. Eating out in SF is a 15-$20 a pop meal kind of place. So it is very easy to spend $500+ a month just on lunch. How do I know? Because that's what I did and began wondering where the money was going. Food! Secondly, as mentioned, drinks are like $5-10 a pop too. So think about it- it wouldn't be that hard to blow $50-60 a night on drinks. More if you take a cab, eat out that night and so on. So that 23k can get spent pretty quick just on stupid nickel and dime stuff, leaving little leftover for European vacations and weekends in Napa.

Here's what I tell people who aren't sure how much they actually spend: keep notes of how much you spend in a 2 week period. Be realistic. Show everything. Then take a look at what you spent and apply it to a monthly expenditure estimate ( double it).

Often times, it's a pretty sobering experience because I'd be willing to bet that you've underestimated what you 'think' you'll spend versus what you really will spend. After that, you can either determine what things are more important to you and appropriate the right amount of money for them, or you can find ways to lower your spending so you can enjoy a little bit of all those things. Simple math, but oh-so-helpful.

Good luck!

[Luke9686]

Firstly most people don't want to share a place with other people, unless it is their significant other. Especially sharing a place with people that they don't know.

You're also not factoring in all that most everything in SF is more expensive than elsewhere. I went to Chili's up there, and a hamburger and fries was $11.00. Then you stop at Starbucks, thats $7 right there. It adds up fast, especially in SF.

I guess if you want to rent a room with strangers, then go ahead and live there for the next 10 years. Just don't come back to this forum agreeing with everyone else that SF is too expensive 2 years from now. Sure it can be done, but lots of people are seeing that it just isn't worth it. Why make $75,000 there and pay $2500 for a 2 bedroom apartment, when you can move to Denver, Dallas, etc, get a job making $$65,000 and BUY a home under $300K.

People are seeing the light, and moving on to live the American dream.

[Tallysmom]

Totally agree with Sliverbox.... keep a money diary and track every penny you spend.

I think you can do it -- hubby and I live nicely on 36000 a year. We have the luxury of owning our own business and we make much more than that... but we live on the 3K I put into our checking account monthly. The only thing that 3K doesn't pay is our health insurance -- that comes out of our business checking.

However -- partying? Not unless you throw the parties. That's where your money will go. And go fast. We love to go to comedy clubs, and there is a 2 drink minimum. Those drinks --whatever they are -- will run you around 30 bucks with a decent tip. (And don't order plain orange juice at clubs -- since they use it as a mixer it's really not good at all...) Add to that the 20-25 bucks a person to go in and a even a cheap dinner at food at the club.... you're at 100 bucks not including parking or whatever fare you have to pay to get there.

So Friday, Saturday and sunday dinner out partying -- you're looking at 250*350 bucks a weekend.... and for some people weekends start on Thursday....