Can I live okay making 35K a year?

Question

Run down of bills

I credit card bill a lil under 1,000
Student loan not exceed 20k
Car note and 350 a month
Bus card of about 85 dollars a month
lunch for work

How many people have had these expenses and still was able to afford a one bed room apartment in a top city (Atlanta, Chicago, Los Angeles). I am in dying need to move out. Paying 300 in rent already with no room to save. Must do it now. Thanks for all help!

Answer 1

True living income for Chicago is about $19 per hour, so about $40k a year. The average one bedroom apartment in my neighborhood is about $800-$1000 per month.

Answer 2

That would be tough... However, anything can be done if you are willing to make some sacrafices and tighten the belt.
Plan a budget!!!
Rent will be your largest expense so make sure that you don't overspend on it.
You need food so that is also a must.
Do not start charging everything or you will end up in debt, behind, and your credit will go down the tubes.
Sell the car and buy a beater... As long as it gets you to and from work, who cares what you drive and if they do, shame on them.
Pay your student loan on time... Credit issues again if you don't.
Work extra hours or even take a second job for the time being until you are more financially stable.

Good luck!!!

Answer 3

Do some job hunting like in a state of Utah or some other states like Virginia whose living is affordable. Perhaps you will be able to move out and live in a better place. Wish you all the best.

Answer 4

I'll let you decide whether or not $35,000.00 is enough for you to live on, but mathmatically...it works out like this:

$35,000.00 annual paid salary before taxes
33-35% annual Taxes from United States IRS
=$23,100.00 annual take home salary
=$444.23 per week for 52 U.S. working weeks annually

Your monthly salary after taxes is roughly: $1,776.92

Hope that helps!