Is this a good salary and what kind of lifestyle could it afford?

Is this a good salary and what kind of lifestyle could it afford?

is 44,000 a good salary for someone living in the United States who should have a job in four years or so? what kind of life style could i expect earning that much? lets assume im single.i know it varies depending on where you are in the united states, but a rough estimate..

Pat

To be honest, 44K annually could be incredibly good or incredibly insufficient depending on where you live. I live in New York City, and there's no way I'd be able to sustain a lifestyle on 44K a year. My apartment costs me $1900/month (by myself) and of course you always have the option to have roommates and depending on the area you live in it could cost you anywhere between $1000-$2000 monthly for rent.However, that's NYC. It's a city that's brilliantly designed to drain your bank account. =)44K is really plenty for a new college grad living in less expensive cities. Let's say you live in a fairly average city where your rent will cost you $700 per month (if you live with roommates). You'll probably get a used car that's two to three years old (after the initial depreciation has passed) and pay roughly $500/month on the car including insurance and gas. You'll then have roughly another $100 or so for utilities and such (after splitting with roommates). Food can cost you either $200/month or $600/month, depending on your lifestyle and preferences. Let's go with $300 for now.You have 700(Rent) + 500(Auto) + 100(Utilities) + 300(Food) = $1,600 in estimated monthly expenses. Your 44K salary after taxes will give you anywhere between $2,500 to $2,800 in monthly income depending on where you live. You now have around $1,000 per month (give or take a couple hundred) to save or use toward leisure. These are general estimates and can easily fluctuate according to a number of factors, but it gives you an idea of how it can play out.Hope this helps. Good luck!

Ring0Rosie

You are right- it depends completely on where you live. Unless you give a specific location, we really can't tell you much more than that's slightly below the median family income for the US.If you want to live in New York, Washington DC or California it's not going to be easy. You'll probably only be able to afford a small place and you'll have to have roommates. You'll have to do some serious budgeting when you are paying $1,200 rent a month for a itty bitty place.If you want to live in Mississippi, Nebraska, Indiana or Wyoming, you will be doing quite well. You could live alone in a nice place and you'll have plenty left over for fun. You aren't going to be driving a new car, but you'll probably have a nice car that doesn't have too many miles.

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