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Posted: 1/1/2012 11:53:15 PM EDT

[#1]

Quoted:

Quoted:
Right now I can't live with a 30K budget, but I did when I was 21 up till I was 26 years old. You can always rent a room or make a small private apt and rent it which would help with the house payment. A part time job also helps.

Good point. If my parents get this house, my section would probably be 1500+ sq. feet and my rent would likely be the same as it is now, around $200
I am salary but have a lot of down time in the winter that I have often thought about getting a part time job to get some extra money but with the job being so busy, the time off is so nice but I think I will have to find a part time gig if just for emergency money in a savings account because living so tight will leave very little to save.

i can tell you a little something here...depending on how much money you want. if you want an easy job literally getting paid to sit on your ass. I am not much older than you. I am currently a factory worker and work 12 hour shifts...generally i would work 4-5 days a week just to get money, sometimes i would work all 7 days cuz that 7th day you got double time. After a while and many people taking advantage of this the company said no more "all you can eat" overtime. You can work up to 60 hours but thats it. So i picked up a job in a gas station kiosk, sit back read magazines, surf the net, listen to music while 90% of people pay at the pump with their credit cards. Not much money but easy stress free work and you can do anything you need in the free time. study, bills, sleep

.

Posted: 1/1/2012 11:59:44 PM EDT

[#2]

Quoted:

Quoted:
Right now I can't live with a 30K budget, but I did when I was 21 up till I was 26 years old. You can always rent a room or make a small private apt and rent it which would help with the house payment. A part time job also helps.

Good point. If my parents get this house, my section would probably be 1500+ sq. feet and my rent would likely be the same as it is now, around $200
I am salary but have a lot of down time in the winter that I have often thought about getting a part time job to get some extra money but with the job being so busy, the time off is so nice but I think I will have to find a part time gig if just for emergency money in a savings account because living so tight will leave very little to save.

i can tell you a little something here...depending on how much money you want. if you want an easy job literally getting paid to sit on your ass. I am not much older than you. I am currently a factory worker and work 12 hour shifts...generally i would work 4-5 days a week just to get money, sometimes i would work all 7 days cuz that 7th day you got double time. After a while and many people taking advantage of this the company said no more "all you can eat" overtime. You can work up to 60 hours but thats it. So i picked up a job in a gas station kiosk, sit back read magazines, surf the net, listen to music while 90% of people pay at the pump with their credit cards. Not much money but easy stress free work and you can do anything you need in the free time. study, bills, sleep

.

Good idea, my step brother works in a factory and he works a ton of overtime, some mandatory but a lot voluntary. He makes pretty good money and the holidays are great, double or triple time so it's pretty nice.
Only thing keeping me from that is just the being in the factory part. My job is outside and on the move all the time, I get to work on the water and in nature while supervising myself and working by myself. Factory work has always bothered me but I would do it if I had to and have actually thought of going through a temp agency in my downtime in the winter where he works for good extra money.

Posted: 1/2/2012 12:45:25 AM EDT

[#3]

Wife and I squeeze in around 1/2 of that in total income, counting house and truck. You can do it, not hard but you have to choose what to sacrifice.

Posted: 1/2/2012 1:08:03 AM EDT

[#4]

i live on roughly $30k. mostly because the ex takes the other $25k in child support.

Posted: 1/2/2012 1:12:38 AM EDT

[#5]

Quoted:
Truck-570
Rent-600
Utilities-100
Student Loans-170
Insurance-170
Phone-90
Medical bills-20
Gas-200
Groceries-160

Im probably forgetting stuff, but this is my monthly bills.

Bring home, just BARELY 33k as a Corrections Officer.

I took a pay cut, went from a Supervisor for Marketing Company, and working as a Bouncer Thursday-Saturday.
To this bullshit job in Vermont

It's good to see another LEO making about the same as me.

Misery oves company.

Posted: 1/2/2012 1:14:09 AM EDT

[#6]

I am married with a wife that works part time and goes to college full time. After taxes we live on that. After college is paid for ( we don't qualify because we make too much money!!!!!) We live on less than 30k a year.

Own our own home. Paid 79000 for a 3 br 1.5 path in 2003. I pay 700 a month, payment is about 650 or so.
2 car payments 1 is near paid off and the other will be in 2 years.

When I bought the house were weren't married I was making less than 13 an hour. She was making 8 or 9 an hour.

Get a room mate.

Posted: 1/2/2012 3:59:52 AM EDT

[#7]

I could live on 30k. I would have to get a second job though. I wouldn't like it but I would get by. At 23 you shouldn't be thinking about buying a house on that salary though... houses bring all kind of unexpected expenses. Just rent.

Posted: 1/2/2012 4:01:20 AM EDT

[#8]

I could do it but it would be tight. Not sure I could do it with a family and a house payment.

Posted: 1/2/2012 4:14:12 AM EDT

[#9]

If I was on my own I could live very well on 30K.

Posted: 1/2/2012 4:32:00 AM EDT

[#10]

Own a House (mortgage)...$650 for a 20yr 4.5%, including taxes, home insurance & flood ins.
2 kids with me (2 adult now); divorced and lived on less than $23,000 for the last 20+ years.
I have/own lots of toys (guns/guitars etc), have some credit card debt that will be paid off this year...

It can be done, but you can't waste money on trivially stupid shit.

Posted: 1/2/2012 4:34:19 AM EDT

[#11]

You can most definitely live on that, and many do. The first step is a solid budget and the second and last step is following that budget religiously. Of course, by following that budget and buying only that which you can afford, you are also avoiding what I would guess is America's top money drain, debt. Nothing will force you to seek a raise faster than digging yourself a nice, deep debt hole.

ETA:

And this:

Quoted:
However, at 23 most people should not buy a house.

There's a lot that goes into home ownership, and it nails you down.

Keep your options open and just rent unless you get a deal that's just too good to pass up.

Posted: 1/2/2012 4:39:13 AM EDT

[#12]

I made less than 25K last year and I do pretty well in as far as having enough to play with and pay all the bills including rent.

It helps being single and a loner. From what I've noticed is that people wind up spending a lot of money just to be around others.

ETA: <25K gross <19K net

Posted: 1/2/2012 4:48:28 AM EDT

[#13]

I take home $400 bucks a week on early out retirement.
We're 100% debt free and live very well on it. (Disclaimer: The Missus still is employed)

Lower / eliminate your debt and you'll be surprised what you can live on...

Posted: 1/2/2012 4:59:18 AM EDT

[#14]

Can I live on $30k? I did when I was 19, would not want to do it ever again.

Posted: 1/2/2012 5:01:52 AM EDT

[#15]

Quoted:
I couldn't pay my taxes on that.

First Post and all that

WTF are you eating? Rice and Water?

Posted: 1/2/2012 5:02:40 AM EDT

[#16]

Quoted:

Don't just say get a higher paying job, I love this job and have moved up quite a bit each year we grow. I have helped this company get pretty far and don't want to walk out now and I believe if I stick around it will work out for the better for me.

Why do you say that? What is this company doing to reward your dedication and hard work now?

Unfortunately, you're always going to be a $30K guy to them, because that's what you are... you are exchanging your labor for $30K and refusing to leave, so why would they ever pay you more?

I'm leaving an employer I really like right now. The contract I'm on isn't bad, I'm paid decently (quite a bit more than $30K

)... but I'm not going to move forward here. So I quit and took a job for about 30% more. Sure, it's a risk... but it's also a huge risk to stay where I am, receiving 4% raises, and take about six years to get to where I'll be next week.

IIWY, I would strongly consider looking around, getting some info on how much I could be making, and then walk into my bosses office and say, "Look... I'm underpaid. You know it, I know it. Here's what I've done for you, and here's what I'm currently doing for you. Let's talk turkey." And if s/he sent me away, I'd start actively looking, find a new job, and submit my two week notice.

Posted: 1/2/2012 5:05:10 AM EDT

[#17]

Very easily and still put back some $$$ for retirement. I would certainly have to change a few things about what I buy and the gun fund would be slim but I could do it without an issue.

Other then a $350 a month house payment [have more then enough to pay it off but right now I prefer to keep some extra $$$ over paying it off as it increases my options if everything goes to hell and the interest rate is dirt cheap] I have no bills outside normal living expenses which are easily covered and could be cut 50% if need be. [only put one vehicle on the road, drop sat TV, basic phone, cut food expenses ect.]

Posted: 1/2/2012 5:11:42 AM EDT

[#18]

I live on 31k/year. No problem. I rent and it is 400$ a month. My only other "bills" are 300 towards misc debt, 100 cable, 50 phone, and 48$ for insurance for the cars. It is not hard to do. I am also 25 and not married with no kids. Thinking about buying a house as well for around the 60k mark.

Posted: 1/2/2012 5:12:33 AM EDT

[#19]

Quoted:

I couldn't pay my taxes on that.

Posted: 1/2/2012 5:15:56 AM EDT

[#20]

i do its not hard.

however i couldn't support anyone but me on it.

eating out and shit is a no go though as is buying guns and ammo at least until i get my car paid off.

Posted: 1/2/2012 5:17:46 AM EDT

[#21]

Posted: 1/2/2012 5:17:57 AM EDT

[#22]

Quoted:
I get about $13k a year. Here's how my bills stack up.

Rent- $350

Electric- $80

DirecTV- $55

Rides to work- $40 (no car...neighbor drives me- it's about 1.5mi. round trip)

Groceries- $200

So, that leaves about $300 for ammo and toys each month.

Seems to work just dandy for me. Would I like more? Absolutely. I'm good, though.

Posted: 1/2/2012 5:22:14 AM EDT

[#23]

If that's after taxes, for sure.

Pre-tax? If I had to.

Posted: 1/2/2012 5:41:44 AM EDT

[#24]

I make around $23-25k net at $14/hr full time. I am fortunate to make this as a veteran with no college. I know college grads who fight for part time and make less then me - a degree isn't what it used to be - it doesn't guarantee you anything. My wife was working full time but now we have a newborn baby - and I assure anything and everything is worth sacrificing for your child. Our basic bills break down like this

$820, 30 yr fixed mortgage for rennovated farmhouse with 5 acres
$100 or less, electric
$92 for cell phone
$400 or more for groceries (mostly me)

$14 DISH Network Welcome Package - no one seems to know about this deal
$30 TWC cable internet
$160 car payment (bought before we were prego, We've traditionally been no car payment people)
$70 car insurance (High because of the car payment - traditionally we have liability only)
Gas is a variable - about $300 a month for me and up to $450 just for her if she is driving to work full time

We didn't account for heating oil, firewood (tree to get free or through sweat equity and save hundreds), or day to day maintenance (Vehicles, House, Appliances, etc) but we know we can somehow make it on my income and possible hers part time if it comes to that - and that's with a baby.

The most important thing is don't waste money on phones, gadgets, clothes, new guns, or crap like dining out. You don't need it. You can get by on much less. Wait for deals - buy when someone else is cleaning out or more desperate then you. A little wisdom goes a long ways.

Posted: 1/2/2012 5:41:59 AM EDT

[#25]

Quoted:

Quoted:
Sure, you can live on less than 30K

However, at 23 most people should not buy a house.

There's a lot that goes into home ownership, and it nails you down.

Keep your options open and just rent unless you get a deal that's just too good to pass up.

I agree with the whole being tied down thing but there are plenty of foreclosures in the area so I wouldn't have to move into the ghetto because $60K for a house is cheap but I can get one more out in the country these days with houses being low and my work isn't too far from the "country" I am talking about. Hell, right now I live in a busy city only about 7 miles from my work and it still takes me well over 20-25 minutes to go one direction.

The only appartments around for that same payment are pretty shady and I don't like apartments but would put up with it if I had to.

Houses are selling slowly in this market.

You also have to pay a realtor to sell it, and make sure it's GTG to show to perspective buyers.

All the while you are responsible for the payments, taxes, upkeep.

You are 23 yrs old and making under 30K/yr. You can go anywhere and accept a better job or transfer whenever you want.

Why do you want to be anchored to a mortgage when you can rent, give notice and move whenever you want?

Bubbaman speaks the truth, don't buy a fucking house. Your employment and life in general can change in an instant at 23, you NEED to be mobile to take advantage of most opportunities.

Hell I am in my early 30s, married and a couple kids. Moving was not even on my radar 3 months ago and now we are relocating in February. If it were not for the company I work for helping out there is no way we could do it.

I say again. Don't buy a fucking house.

Posted: 1/2/2012 5:44:17 AM EDT

[#26]

I take home $650 a week and have a $500/month car payment, $2K a year car insurance, and pay $800 a month on my mortgage and taxes (actual is $671, I pay the extra on principal every month). If you took that car payment and ridiculous insurance out of there, it's definitely possible. I still find plenty of money to piss away and I eat out 8 out of 10 means.

Posted: 1/2/2012 5:44:57 AM EDT

[#27]

Could you live on less than $30K?

No. Property taxes alone are more than a third of that.

Posted: 1/2/2012 5:49:35 AM EDT

[#28]

I'd agree on the sentiment of mortgages. In our circumstances, it was best for my wife and I. It was pretty easy selling our mobile home - more paperwork then a car but pretty fluid. Rent or live in a trailer park - but I would avoid buying a house right off. Ideally, I would have bought myself land somewhere geographically sound and built later on. If you don't know, save $$ for a downpayment.

Posted: 1/2/2012 5:50:56 AM EDT

[#29]

Quoted:
Could you live on less than $30K?

No. Property taxes alone are more than a third of that.

And that is the killer in many places, mine are around $875.00 for the year, very easily done on 30K a year, ten K, forget it.

Posted: 1/2/2012 6:23:58 AM EDT

[#30]

Homeowners should PLAN on spending between 2-4% of the value of their home each year on maintenance.

Some years, you won't have to, and some years, you'll wish it was as low as 4%.

Posted: 1/2/2012 7:22:42 AM EDT

[#31]

30k USD a year, I'd live like a king in central America.

Posted: 1/2/2012 7:35:17 AM EDT

[#32]

$30k ? Sure, in Costanicasalvanama.

North America.....not so much.

Posted: 1/2/2012 7:37:34 AM EDT

[#33]

OP is single and in his 20s-to paraphrase Horace Greely, "Go (northern mid-) West young man"

http://www.ar15.com/forums/t_1_5/1255400_Boom_fuels_oil_field_talent_search___.html

Edited to fix link.

Posted: 1/2/2012 7:42:59 AM EDT

[#34]

Quoted:

married college student here.

We live on about $31k.

currently selling as many guns as I can to pay bills if that tells you anything. I also sell my body ––-
I sell my plasma

I hear the human body if worth upwards of $200k to medical science and pharmaceutical research...

Any one know where I can get say 25% of that up front and then the rest goes to my kids when I am done with using this body???

Posted: 1/2/2012 7:43:57 AM EDT

[#35]

My wife and I (no kids) lived on just over $9K/year for two years (ETA: in semi-rural MO). Renting, we own two older cars (cheap insurance), little driving necessary, no health/life insurance, no frivolities.

We ate meat once a week - a single chicken breast split between the two of us. Otherwise we ate rice/beans that we stockpiled when I had a decent job. Whatever vegetables were in season and on sale. Trading for food at the farmer's market.

Basically we paid nothing but rent/electric/water, car insurance/gas (did my own oil changes 2x yearly), internet/phone, and weekly food. Two years of shooting only whatever ammo people were nice enough to give me in exchange for teaching them to shoot.

We did not take food stamps. Out of curiosity, we went to the office to see if we would qualify. We didn't - we had too much "assets" aka we owned our cars (both valued under $1500). The office told us to sell our cars for cash, then buy new cars. Since we wouldn't have the title, they wouldn't count as assets, and the food stamps would more than make up the car payments. I'd rather pay my own way, thank-you-very-much.

No going to the doctor, that's for sure. I made antibiotics from blue cheese when necessary. OTC painkillers weren't enough for my wisdom tooth, so I OD'ed on capsaicin for the natural painkiller effect - now I eat ghost pepper sauce on buffalo wings - habanero just doesn't have the kick I like.

Living on less than $10K/year isn't fun. I'm making more now, but between taxes, health insurance, retirement, and paying off student loans and other large bills we'd gotten behind on (not to mention driving 600+ miles/week), we have about the same lifestyle but with a little more meat in the diet. I have to keep telling myself it's better now because I can go to the doctor, I'm paying down debt, and I'm saving toward a retirement system (pension that probably won't be there in 30 years...).

Posted: 1/2/2012 7:51:04 AM EDT

[#36]

Quoted:
Last time I did the math, my bills, cigarettes, food, etc. add up to around 22k a year. Anything beyond that gets spent on toys, investments, is saved, etc. I could live on a lot less but I really like to eat out. 30k for a 23 year old isn't bad at all.

ETA: It helps if you wear rubbers, too.

THIS!

Posted: 1/2/2012 7:57:50 AM EDT

[#37]

Quoted:

Quoted:
married college student here.
We live on about $31k.

currently selling as many guns as I can to pay bills if that tells you anything. I also sell my body ––-

I sell my plasma

I hear the human body if worth upwards of $200k to medical science and pharmaceutical research...

Any one know where I can get say 25% of that up front and then the rest goes to my kids when I am done with using this body???

I know what I'm doing with Dad when he dies

Posted: 1/2/2012 8:02:13 AM EDT

[#38]

In most parts of Arkansas, you can. My sister-in-law and her husband live on 30-33K and have two kids. Thanks to her budgeting skills they are buying a 1700sqft home that needed a little work in a fairly decent neighborhood. Sad part is both are college grads. He works at a local college making 18k a year salary and she works managing a resort on the lake. Both work hard but, are just unwilling to work shift work, holidays, nights or travel extensively like I do. I make 80K per year base salary plus bonuses but, quality of life is much different.

Posted: 1/2/2012 8:02:53 AM EDT

[#39]

Quoted:
Truck-570
Rent-600
Utilities-100
Student Loans-170
Insurance-170
Phone-90
Medical bills-20
Gas-200
Groceries-160

Im probably forgetting stuff, but this is my monthly bills.

Bring home, just BARELY 33k as a Corrections Officer.

I took a pay cut, went from a Supervisor for Marketing Company, and working as a Bouncer Thursday-Saturday.
To this bullshit job in Vermont

You make barely 33k, yet you bought a truck that gives you a 570 dollar a month car payment?

Posted: 1/2/2012 8:03:30 AM EDT

[#40]

If I did not have a mortgage, kids, and wife I could live comfortable on 30k. 3 more years on the Mortgage, youngest kid is 6 months, and wife, depends on how she acts.

Posted: 1/2/2012 8:06:48 AM EDT

[#41]

I do.

Posted: 1/2/2012 8:09:27 AM EDT

[#42]

Quoted:
I have lived on 30k a year, bought a house and went to school while working a $10/hour job. It is not that hard to do if you live with in your means.

May I ask when that was? My dad used to tell me how he knew people that were making not much above minimum wage that were able to afford houses about 20 years ago. I think he is/was completely out of touch with reality or full of crap. No way, no how in the Seattle area for sure.

Posted: 1/2/2012 8:15:59 AM EDT

[#43]

are we talking 30k before or after taxes?

Posted: 1/2/2012 8:16:33 AM EDT

[#44]

Quoted:

Quoted:
I have lived on 30k a year, bought a house and went to school while working a $10/hour job. It is not that hard to do if you live with in your means.

May I ask when that was? My dad used to tell me how he knew people that were making not much above minimum wage that were able to afford houses about 20 years ago. I think he is/was completely out of touch with reality or full of crap. No way, no how in the Seattle area for sure.

My mortgage payment is $671 with taxes and insurance. Electricity is $100, water is $30. If I didn't have a car payment and my car insurance was shit cheap, it is possible. That's why I bought the way I did. No matter what happens I can afford to live if I get rid of my car payment. It'd be a shitty life, but it is possible.

That's with a $98K mortgage.

Posted: 1/2/2012 8:18:49 AM EDT

[#45]

Quoted:
Homeowners should PLAN on spending between 2-4% of the value of their home each year on maintenance.

Some years, you won't have to, and some years, you'll wish it was as low as 4%.

Yep. When I bought my house ten years ago I never considered that at all.

If I sold my house today, I think I would barely break even after all the realtor expenses. When I consider the amount of money I have had to put into this place just for maintenace, I would have been better off renting

Posted: 1/2/2012 8:24:32 AM EDT

[#46]

Don't forget to factor in the cost of maintaining a home.Furnaces need servicing,water heaters go out,etc.Better to rent in your situation,should you need to you are free to move to a place with more opportunity.Personally,if I was young and single I'd buy an old camper and be out in the oil fields right now.Make some good money for a few years.

Posted: 1/2/2012 8:24:44 AM EDT

[#47]

Quoted:

If I was on my own I could live very well on 30K.

This. And, as a matter of fact, I have. Seeing people here post up $650 / month vehicle payments makes me go WTF. My mortgage is $495 / month, my wife's mortgage is $710 / mo (we rent out her house). The idea of having a vehicle payment that's nearly equal to a mortgage payment just blows my mind. I like buying cars older, and buying cash. We've got an '04 and an '05. The wife bought the '05 a couple of years ago, before we were married. Against my advice, she took out a loan on it. To me, the '05 is a "new vehicle". The people who whine that "an older car is just a money pit!" either choose used cars very poorly, or take it to the mechanic every time it makes a squeak they don't like. I've owned many 10+ year old vehicles, and I can't think of a single significant issue I've had that wasn't owner negligence.

I think any single person that can't "make it" on $30k a years, simply doesn't have their priorities straight, and or figured out their "needs" vs their "wants". I now have a family of 4, and it would be significantly harder to do, but I still think it would be possible.

That being said, we "waste" a fair a mount of money on our bells-n-whistles iPhones, Xbox / Wii, internet, and my wife's impossible-to-stop-thus-far desire to eat out...all the damn time. I tend to put most of my "waste" into durable goods, where the good can be converted back to cash if the need arises. Usually at a profit. :)