topic Re: How much money does it take to exist these days? in SmorgasBoard

How much money does it take to exist these days?

Anonymous — Mon, 12 May 2008 22:59:24 GMT

$500 a month, $1,500 a month, $3000 a month?

Someone wanting to make a fresh start, no debt, no transportation, no place to live, no medical. Totally from scratch with just the shirt on their back. Lest just say they have great credit. They still need money to pay for stuff. How much money do they need to make?

Re: How much money does it take to exist these days?

llecs — Tue, 13 May 2008 00:31:04 GMT

ilovepizza wrote:
$500 a month, $1,500 a month, $3000 a month?

Someone wanting to make a fresh start, no debt, no transportation, no place to live, no medical. Totally from scratch with just the shirt on their back. Lest just say they have great credit. They still need money to pay for stuff. How much money do they need to make?

Depends on where the person were to live.

I live in the DC area. Here's a monthly estimate, basic on a single person, assuming you had to finance home & car:

Home $2500

Car $350

Utilities $500 (gas, ele, basic phone, trash, water)

Car. Ins. $100

Food $300

Gasoline $200

Clothing $100

Medical $300

Misc. $100

TOTAL $4450

That's what you need, but you have to pay taxes....

FICA = $504.90

W/Holding @ 25% of total pay = $1650

TOTAL Gross pay $6600 is needed each month or $79,200 annually.

All this excludes tithing, savings, other expenses like cable, internet, $$ for a computer, cell phone, car or home maintenance, bank charges, ATM fees, interest on anything finances other than car or home, property taxes, local taxes, registration fees, gifts, gym memberships, etc.

Of course, if that person were married it won't cost all of that. You wouldn't have to buy 2 homes, double utilities, etc.

To add........DW and I estimate we need $108k or $9k monthly to function without stress. Not there yet, but soon will be.

Message Edited by llecs on 05-12-2008 08:30 PM

Message Edited by llecs on 05-12-2008 08:31 PM

Re: How much money does it take to exist these days?

Anonymous — Wed, 14 May 2008 13:09:58 GMT

Richmond, Virginia, based on my experience:

Using similar numbers, adjusted for locality:

Housing: $700-1800 depending on neighborhood and apartment rent vs. owning home

Car: $200-$350 used vs. new

Utilities: Can't speak to using gas, but my all-electric house averages $112/mo.

$50/water

$40/phone

$15/trash

Car ins. $100

Food $300

Gasoline $350 (the way gas prices are going, plus Richmond has a lousy not-worthy-of-the-name "mass transit" )- so you're driving everywhere...

Clothing $100

Medical $100-300 (the lower number if you can get health through your job)

Misc. $100

Totals: $2167- $3617 net takehome.

-MsMS

Edited to remove random smiley... weird.

Message Edited by MsMS on 05-14-2008 06:09 AM

Re: How much money does it take to exist these days?

Anonymous — Wed, 14 May 2008 14:23:20 GMT

LI, NY - 10 k/month

Re: How much money does it take to exist these days?

fused — Thu, 15 May 2008 20:13:07 GMT

I live in Hawaii and it's far and away the most expensive place to live in the country.

I live in a 1175 sqft two bedroom house on a 5,000 sqft lot. Rent is over 2K and the house was appraised at 765K.

Monthly Expenses:

Electricity w/o ac is $290

Water/Sewer is $160

Cable and internet is $180

Food is almost $1000 (for three of us)

My DW and I have been thinking hard about relocating, but it's hard to leave home (Hawaii) and there is no place in this country that is warm the whole year. It's very sad!

Re: How much money does it take to exist these days?

Anonymous — Thu, 15 May 2008 20:47:49 GMT

No RE taxes? Taxes in my neck of the woods are $1,458.33/month.

Re: How much money does it take to exist these days?

atlastontheroad — Thu, 15 May 2008 21:47:47 GMT

cobra19 wrote:
No RE taxes? Taxes in my neck of the woods are $1,458.33/month.

We must be neighbors, mine is just slightly lower. But I have a very small house on a postage stamp sized lot (lots of room for gardening, my "cheap" pastime). When I open my tax bill I simply view it as "gee, there's the private school tuition bill for the kidlet." What I'll do when she's done with high school, I have no idea. I like it here and by then the house will be improved to the point where I won't want to leave!

Nassau County isn't as idyllic as Hawaii, but I love the smell of the ocean in the morning, drive 2.9 miles each way to work and can't beat the 30 minute commute to the city for fun.

My only real complaint is that we don't get enough snow. I love winter.

10k a month would be nice. I'm living on considerably less than that as a teacher.

atlast....counting blessings helps

Re: How much money does it take to exist these days?

fused — Thu, 15 May 2008 22:09:45 GMT

Hawai RE taxes are high!

Annual rate for a homeowner with a home priced at Hawaii's median of 625K would equal:

a whopping $6,882 a year

http://www.hawaiipropertytax.com/template.asp?page=2003taxrates.htm&mnu=Home&submnu=CurTaxRate

Re: How much money does it take to exist these days?

Anonymous — Thu, 15 May 2008 23:37:44 GMT

at last.................The north shore of LI.

Re: How much money does it take to exist these days?

atlastontheroad — Fri, 16 May 2008 02:13:31 GMT

cobra19 wrote:
at last.................The north shore of LI.

cobra...South shore of LI

Re: How much money does it take to exist these days?

Anonymous — Fri, 16 May 2008 14:16:29 GMT

I am very thankful that I live in base housing where, at this base, for the moment, we do not pay utilities. It is coming however.

I have the chance to save a little money for Jan 09 when I have to move off base and prepare myself for the prices of utilities here.