Lets say I am 18 wanting to live on my own, I wanna live not rich, but happily, like for example I wanna be able to allow myself luxuries. How much do I need to get paid to live right?
2007-01-19 12:45:35 · 8 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
Well, I basically am asking if an 18 year old can survive with a $35,000 yearly salary....
I consider luxuries going to the movies every weekend, having a decent car, and basically living worry-free financially, and still having enough money left over to save.
2007-01-19 12:54:25 · update #1
I did forget details. I would be living in TX. My apartment rent would be 800 max.
2007-01-19 12:57:24 · update #2
Depends on what you mean by luxuries. The bare min I think you could survive on with a few luxuries is $30,000 annually. I define luxuries as follows. Dinner out once month 60.00. A new DVD every 2 weeks 20.00 maybe a nite out clubbing every two months 150.00.
I am not sure where you live and the going rates for a starter rental apartment.I am not sure if you already own a decent car.Those would factor greatly in how much you need to live on...though I think a 18 year old ANYWHERE BUT NYC could do pretty well on 30 grand annually...NOT RICH BUT PRETTY WELL
35K is not going to be enough to do it all and save too ! At 18 to earn 35k you will most likely be working lot's of overtime. Try to get a postal job !
2007-01-19 12:55:49 · answer #1 · answered by yeah , yeah whatever 6 · 0⤊ 0⤋
Just take the time to break things down. Assuming that your parents did not buy you a 500k car for your 16th birthday. You first have a car payment. A nice one can run you around 300 a month depending on your credit. Plus insurance thats another maybe 50. Health insurance could be about 90 depending how good it is and gas, I don't drive so I dont know how much gas is really so I would assume about 50 a month?
Thats about 490 so far.
Depending ALOT on where you live, you could get a 1 bedroom apartment anywhere from 400-1200 a month. Assuming you do not live in Orange County, you could probably get a nice one for about 500 a month.
Then you got food (aprox 125 depending how much you eat), Utilities (water, heat, electricity, 175) some of which may be included in your rent. Extras (toilet paper, paper towel, soap, shampoo, dishsoap etc, abouot 50). Then if you want some extra money each month.
All and all it would probably, depending largely on where you live I would say around 1500 a month plus what ever extra stuff like clothes, shoes, dvds, cds, etc you want. Chances are you would want savings also. I personally could never imagine living comfortably on less then taking home 2000 a month. But that's just me. It would be very hard to survive when you are only 18, assuming you did not graduate high school when you where 16 and already have a college degree or a really amazing job.
Good luck!
2007-01-19 20:57:14 · answer #2 · answered by J. 4 · 0⤊ 0⤋
You forgot to mention where . . .
You may need $1000 a month in the Midwest
But the same apartment & stuff will be $3000 a month in California.
WHERE are you asking about ?
And WHAT do you consider luxeries ? That is different for everyone. Your ? is too vague, clarify . . .
Xtra info : $35K for an 18 yr old ?
Hahahahahahahahahahahahahahahah
Rats, you made me fall out my chair laughing !
Anyways, an 18 yr old would be lucky to see $20K a year unless you have a veryyyyy rich father who will just give you a job.
OK, $35K will get you and apartment and car and groceries and movies, BUT don't count on saving anything unless you get a cheap car and go to only bargain shows ($2).
AND never forget TAXES : $35K will have about $10K in deductions, so you have $25K to spend.
Texas apt, utilities, car + insurance, fuel, groceries = about $2000 a month so you will have about $85 a month for luxeries .
Have fun ! !
2007-01-19 20:55:38 · answer #3 · answered by kate 7 · 0⤊ 0⤋
ah lets see
big apartment in a big city 200,000 weekly
own luxuiries house 500,000 weekly
mansion 1,000,000 weekly
plain apartment 150,000 weekly
more if you get married
2007-01-19 20:55:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
So much depends on this answer......
where do you live
what do you consider luxuries
how much do you intend to save and invest for your future
2007-01-19 20:51:13 · answer #5 · answered by daljack -a girl 7 · 0⤊ 0⤋
My son makes $7,000 a month and he is always broke.
2007-01-19 21:04:50 · answer #6 · answered by ? 3 · 1⤊ 0⤋
You need as much money as you spend.
2007-01-19 20:58:26 · answer #7 · answered by Al 2 · 1⤊ 0⤋
2.000 weekly = $104.000 yearly. single
double if married.
2007-01-19 20:49:14 · answer #8 · answered by cork 7 · 1⤊ 1⤋