Re: How CAN anyone live on a Budget
As a single person I lived on around $35,000 a year (gross). My take home pay was about $2,000 a month after taxes, health/dental/disability/vision insurance, and 401k contributions (I put in 3% with a 3% company match and an 8% yearly profit sharing contribution).
My mortgage (900 sqft 2 bed/2 bath condo) was $900 including property taxes and my association dues (included landscaping/snow removal/exterior maintenance). My car payment was $250, gasoline was about $70 (at that time), car insurance was $70, food was about $250 a month (high, I know), electric/natural gas was about $100 a month average for both, cable was $50 (digital) dial up internet was around $20, cell phone was $35, landline was $25. Condo insurance (kind of like renters insurance) was $10 a month. That adds up to $1780, leaving only $220 to save for things like car repair, home repair, clothes, vet visits, vacations, gifts, etc. A shoe string budget to be sure. Now if I'd had a family, things would be even tighter since food and serveral other catagories would have cost more. I could have saved on the cable (basic is $15 in my area) landline phone could have been canceled, internet could have been canceled, things like that. But still, $35,000 a year for anyone is tight, unless you live in in an area with a REALLY low cost of living. My saving grace was I didn't have any student loans. (Of course I also didn't (and don't) have a college degree!).
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