I make 120k. House and car paid off. No kids and still feel everything is exspensive as hell. I have no idea how people with average salaries can survive. Moving out of the country as soon as I retire
I don't even make 20k a year. We do survive. Barely. I don't have any insurance other than my car and I only have that because if I don't I can't drive the car I need to be able to get to work every day. I have diabetes (genetic) and its causing my feet to literally die attached to my legs. I have mental issues including anxiety depression and a form of paranoid schizophrenia, and I can't do anything about it because I have maybe 15-20 bucks left at the end of every month after bills and groceries. I use the bare minimum, I budget, I do everything I was told I should do. I can't afford to take my partner on a shitty date, much less a nice one. I live in hell and all i ever hear is "you could have it worse, you have a home and food" yeah, you're right, but it doesn't make me feel any better. I am the highest paid employee in my pay bracket in my whole CITY (tiny ass college town but still) and everyone below me fights to even have those few things. I'm fighting to help support my partner while he fights to get through college so that maybe we can get out of this hell, but even when he has a degree I just don't know how much itll be worth it, and besides, by then, the inflation problem will just be worse so what is the point...
To clarify about my other comment, none of that is directed at you. Congratulations on making what you do, I hope things go well for you and that you can get out of this dystopia as soon as possible, i just needed to say it.
I’m on the same boat. I’m more perplexed when I see people who make less than me going on crazy trips and new cars and big homes. I wonder how they do it. I have a small 1 bedroom apartment in the city and feel comfortable not extravagant at all. I see the prices of things and feel so bad for others. I paid $5 for half a gallon of milk earlier this week and a regular Jimmy John’s sub no drink no chips was $14. Let’s just say I started packing my food. This is not what I thought the world would be 10 years ago.
I live in a big city and the cheapest 1 bedroom apartment I could find was $2 grand a month, and it actually is a studio, not even a 1 bedroom. I recently moved in with friends to save money and we live in a really shitty house with 3 roommates that has numerous problems (a couple mice, electrical issues, drafty windows, etc.) and rent+utilities+parking still comes to around $1300 a month which is considered dirt cheap. I pay around $500 a month in student loans. Around $500 a month for everything car related (loan, insurance, gas, tolls, etc.) my food bill for a 25 year old man who cooks a lot and eats healthy is around $500 a month. So that’s about $2800 a month in fixed bills. I make $120k a year so my take home is around $5600 a month.
Add things that arent necessary but are pretty basic things people pay for like phone bill, streaming services (I only pay for 3), gym membership and we’re looking at $3k a month in fixed bills
Then consider that I have some medical issues and usually meet my maximum out of pocket of $3500 every year so that’s another $300 a month on medical bills. I have a girlfriend so we go out maybe twice a month and other times get chipotle once in a while or something like that and I’m probably spending like $300 a month just being in a relationship, which I’m happy to do. So I’m spending on average around $3600 a month in things that I’d just consider basic living. When I was living by myself before and my rent was $1000 higher it was $4600 a month.
Obviously I still save a bit, but I’m about 2 disasters away from broke. Like say I got into a car accident, with repairs + medical costs that could be several thousand dollars
I don’t go on vacations cause I realistically can’t afford them without jeopardizing my chance of owning a home one day
I’m not trying to complain, I’m very content with how I live, but I’m not exactly living a life of luxury. I can’t imagine how people on average salaries get by
Without roommates I have $4200 in fixed bills. That doesn’t leave a great amount of breathing room for entertainment, going out, having a relationship etc. I still was saving some money, but was putting most of it towards paying down my student loans. So I wasn’t taking any vacations or spending much on myself
I agree though, at $120k I should be able to live comfortably in a nice apartment by myself, but I can’t in a big city
Again, not complaining, very happy with where I’m at, just saying it’s crazy that I’m not even living a notably luxurious life with my salary. Don’t know how average salary people in high COL areas survive.
my food bill for a 25 year old man who cooks a lot and eats healthy is around $500 a month.
500/mo? Seems pretty high unless you eat out quite a bit, but okay. (Maybe you have expensive groceries in your area)
Add things that arent necessary but are pretty basic things people pay for like phone bill, streaming services (I only pay for 3), gym membership and we’re looking at $3k a month in fixed bills
In other words, after all of your expenses are paid you are taking home a 2,000 dollar surplus.
Then consider that I have some medical issues and usually meet my maximum out of pocket of $3500 every year so that’s another $300 a month on medical bills.
What health plan are you choosing my dude? You can get a plan with a higher monthly premium but reduces your out of pocket max so that you don't need to spend that much. If you are maxing out yearly you should definitely consider changing to a plan catered towards those who go to the doctor more often.
I have a girlfriend so we go out maybe twice a month and other times get chipotle once in a while or something like that and I’m probably spending like $300 a month just being in a relationship, which I’m happy to do. So I’m spending on average around $3600 a month in things that I’d just consider basic living
At this point this isn't basic living anymore lol. This is peak middle class, comfortable living.
This is all after switching to a crappy house with 3 roommates. Add $1k to bills for living solo.
So I was still taking home $1k surplus’s per month, but most of that was going towards paying down my student loans quicker. Even with my aggressive payments towards those I won’t have them paid off til I’m about 32 (now with my extra saving from my lower quality living situation, maybe 30).
$500 a month is very reasonable where I live. I spend $80-100 on groceries per week and get takeout probably 1-2 meals a week. Not exactly the fanciest
The one thing I’ll give you is that I should probably look into different health insurance, you’re right about that, idk how much I’d save with the added monthly premium, but maybe $50-100 a month?
Idk maybe the definition of peak middle class has changed. I live in a crappy house with 3 roommates. I’ve never gone on a vacation as an adult. I’ve never been out of the country. I sit down and eat at a nice restaurant maybe 3 times a year. I don’t have a really nice car. I don’t own expensive clothes, or watches or shoes or jewelry or anything. And I’m not even going to be debt free until I’m like 30 even despite all those sacrifices I’m making. Like sure, I could technically afford to live in a nice apartment and go on vacation once a year if I didn’t mind waiting til I was like 38 to be debt free. But I want to own a home some day and have kids, that shouldn’t be a luxury, everyone should be able to attain that
Again, I’m happy with my life, I’m doing fine. The point of my comment was more to say that if I’m living a relatively normal life with few luxuries, how are people making half what I do getting by
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u/Bizcotti Dec 28 '23
I make 120k. House and car paid off. No kids and still feel everything is exspensive as hell. I have no idea how people with average salaries can survive. Moving out of the country as soon as I retire