Truthfully, could you live off 40k a year?

ieternalv

ieternalv

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Sep 17, 2004
Im graduating from college (Bus Econ w/ Acctg. Major | Chinese Minor) in December and am currently looking in the job market.
I was just sitting around last night high as a cloud and was calculating my expenses over the year, and I was surprised that it only came out to be around $25k(not including tuition, which my parents pay).
So my question is...could you live off $40k/yr and be happy? (40k is the avg pay that college grads make i think)

I have no idea how it is to live by myself but i pay $800/month for rent + ~$100 for utils, $200/week for whatever expenses (food, gas, etc.)
I guess it would change if i had more expenses like a car or whatever else to pay off, but i dunno i guess i was one of the lucky ones that doesn't have topay off school debts and whatever. I just wanted to see if im the only one that thinks $40k is pretty decent.



PS: don't get me wrong i have ambitions of making $100k + a year (financial manager), but starting out i think i could live well off that salary.
 
I'm living off a lot less right now..50k would be nice, but it think its all a amtter of how you manage your money.
 
So many factors come into play. Your lifestyle, how you manage your money, where are you? etc.

-SAlNlDllvllAlNl-
 
i live in cali...and after taxes

im not trying to live in the bay or LA...im going back home to sac...but then again everything in cali is going up in prices
 
50k is the avg pay that college grads make i think
not quite. avg is about 40k or a little less.
but just you, no wife, no kids, you should be straight on 50k a year.
you might have to budget here and there.
also depends on if you plan on buying a house or condo or just renting a place.

-J-
Click to expand...
 
It really depends. Where would you be living, and what is the COL there? Do you have dependents? How much are your student loans if you have them? How well doyou manage money. If you are alone or there are only to of you in a household then you can definitely do it, when you add more people/expenses obviously itbecomes less possible. Most Americans are living w/ income under 40,000. Keep that in mind.

btw the avg for college grads is an average of how much you will make right after graduating... Not a lifelong average.
 
yeah, im not planning on ever being in debt to anything.

As for family, im not planning on having a family anytime soon, but you never know.
I got some money in the market right now, which isn't doing so hot, so i just watned to get some insight.

i guess i got it kinda made, after college imma live in my friend's house that his mom bought him, and just pay utils so my rent will be relatively cheap.And the COL in sac isn't as high as it is where i live now (santa barbara)
 
As a recent college grad, you'd be making about 40K BEFORE taxes. Annual salaries are usually discussed in terms of Gross income. 40K is not a bad place tostart, but if you were considering a car, then things might get a little tight. Based on what you said, you spend about 1700 a month total. (rent, utilities, +200/week spending cash) comes out to about 20400 a year in expenses. You can continue to spend that much, and save 10,000 a year if you make 40K.

edit: this post makes me rethink my fanancial situation and my budgeting after I graduate... Spring 08
ohwell.gif
 
just want to point out that peeps live on many many thousands of $s less then that, and have been doin so forever.....yes you can.
 
You can live off of that but I wouldn't say you'll be living comfortably. I say you'll go through a paycheck to paycheck sometimes, so make surethe job is pretty secure.
 
Its possible to live off that amount, but how comfortable could you really be? Maybe if you live in a down-scale area, but I personally wouldnt be satisfiedwith that.
 
I live below the poverty line as it is. If I was getting 40k I would be ballin.
 
That was defintely be enough. Ill be living with my mom, so no rent. Food Ill chip in a couple hundred a month, Ill probably have 20,000 saved at end of theyear.
 
off topic
they got chinese courses in cali colleges?
what dialect and what do they teach exactly
pm me please
 
You have to start somewhere. The average person doesnt get 90k a year coming out of college.
 
Easily, and you can live very comfortably. Just make sure you don't have wild spending habits and you are a smart shopper. Ex, grocery shop instead ofeating out every night.
 
i could EASILY live off 40k a year if i lived by myself. once i get a wife and children then not so much. my wife would definately have to work if we want tobe comfortable.
 
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