(Closed) Spinoff: How much do you make per year?

posted 9 years ago in Money
  • poll: How much do you and your SO make combined per year?

    We're students and don't work.

    Less than $10k

    $10k-$20k

    $20k-$30k

    $30k-$40k

    $40k-$50k

    $50k-$60k

    $60k-$70k

    $70k-$80k

  • Post # 46
    Member
    15119 posts
    Honey Beekeeper
    • Wedding: June 2011

    I think everything comes down to what it cost to rent or own wherever you live cause the rest of it is going to be the same no matter where you are.  If youre midwest mortgage or rent is like 1k, and big cities are paying upwards of 3k, that’s 24k difference in cash you need right there – factor in that you had to pay tax on your salary to net 24k, thats 36k salary difference you need.  Food, car, internet, electricity… I think those could be fairly even across the board.  Maybe heating and cooling could vary a lot since its easy to put up with heat if you dont want to use the AC and save, but you dont have a choice but to turn up the heat or face bursting pipes in the winter.  Gas and parking cost could be pretty dififerent too.  To rent a garage spot if you work in downtown Boston is anywhere from 250-400 a month, just so you can park to go to work.  If you want to save money by commuting, well the commuter rail pass is still easily 100+/month.  But many people still need to keep the car cause housing rates near commuter lines are desirable and more costly. 

    Post # 47
    Member
    70 posts
    Worker bee
    • Wedding: September 2012

    I’m 23, he’s 24, but we graduated at the same time and have both been working for about a year and a half. We both make right around $63-64k/year, putting us just over $127k combined. It’s not much for our area but we are young so it’s fine. We were both able to live with our parents for a year so we saved basically everything we made and were able to buy a $225k house. it’s a small (1300sq ft.) ranch, but there’s just the two of us so it’s fine for now. we live in the northwest suburbs of chicago.

    hoping to move up to a “real” house eventually (aka 2 stories), but the ones in our area are all $500k+, so it will be a while.

    Post # 48
    Hostess
    11163 posts
    Sugar Beekeeper

    View original reply
    @LGenz: Same here and while it is considered “high” it certainly isn’t filthy rich in the wine country. All about the zip code perspective.

    Post # 50
    Member
    1327 posts
    Bumble bee

    Right now combined we make about $45,000 a year, we are 23/24 years old. We have a two bedroom apartment (1000sq ft, $195,000), two cars, savings, internet, phones, food on our table and a bit of room to breathe, we have no debt other then our mortgage. We are comfortable at the moment, but there is no way that one of us couldn’t work and if we added in kids it would get really tough. We are not rich by any means but we aren’t in the poor house either, we live in a nice area but we are as far away from vancouver as you can get before you head over the mountains and there is no way we could move any closer at this point. I would say we need to increase our salaries to $60,000 a year before I would feel really confortable bringing kids into the mix, and I would really like a 2000sq ft place (which would cost between $250,000 – $350,000) but we will see.

    Post # 51
    Member
    15119 posts
    Honey Beekeeper
    • Wedding: June 2011

    View original reply
    @galloway111:I can tell by the fact that your house cost $225k that you live in an expensive area though, since a house that size around here would cost half that.

    That is not true.  225k couldnt even buy me a 2 bedroom 600 sf condo in an expensive suburb of Boston.  I imagine its similar in Chicago.  In the “nice” areas we were looking at, a 1300 sf 3br/1 bath non updated 1970s fixer was easily 550k.   To get something updated or new with even 1500 sf, we were looking at 650k+.  (Granted this was a VERY expensive suburb) I think you live in an area of very low cost of living, and while you understand that it cost more to live in other areas, you havent quite grasped how much more it really does cost.  I mean, I remember another thread where you said you could cater your wedding for 8 dollar a person??  I cant even get chinese take out across the street from where I work for lunch for that!  It’s 8.50+tax for a lunch lo mein.

    Post # 52
    Hostess
    11163 posts
    Sugar Beekeeper

    View original reply
    @galloway111:I can tell by the fact that your house cost $225k that you live in an expensive area though, since a house that size around here would cost half that.

    Just to add to the perspective I wish houses were that affordable around here…that would get you a lovely townhouse or a condo. Homes within the 1,500 Sq Ft range would start mid-300’s and up (depending on the specific city). So again you are right

    Post # 53
    Member
    70 posts
    Worker bee
    • Wedding: September 2012

    View original reply
    @galloway111:i guess part of the reason why it seems small is because it is only 1 story. the house i grew up in was 1600sq feet, but it seems way bigger to me than our current house just because it was 2 stories. similarly, my fiance’s house that he grew up in was 1500sq. feet, but it was 2 stories, so again, seems bigger.

    Post # 54
    Member
    1327 posts
    Bumble bee

    View original reply
    @galloway111: Ha, $225,000 here will buy you an old 80’s townhouse or a newer apartment where I live but if you want a house you can get a 70’s model for $300,000 and it just goes up from there the newer it gets and we are almost an hour and half outside of the city. I would kill to own a house for $225,000.

    Post # 55
    Member
    3218 posts
    Sugar bee
    • Wedding: February 2012

    when we move in together we’ll be pulling 50-60k next year.  I’m a full-time student and, lucky for me, SO decided to work instead of going to graduate school! I’ll be getting a stipend and tuition paid for* so we’re going to live off his salary and put my stipend in savings… plus start chipping away at all those student loans we racked up in undergrad and my MA degree. 

    *pending acceptances, please keep your fingers crossed for me!

    Post # 56
    Member
    70 posts
    Worker bee
    • Wedding: September 2012

    With all of this discussion going on about years of houses, i should mention that ours (the $225k house) was built in 1951, hasn’t been updated (besides minor updates in the bathroom). 3 bedroom, 1 bathroom, unfinished basement. still has the original stovetop.

     

    AND we got a deal on the house. it was originally listed at $294k.

    Post # 57
    Member
    9479 posts
    Buzzing Beekeeper
    • Wedding: October 2012

    $225K house here would get you my grandmother’s 1950s ranch style home that needs so much improvement that it wouldn’t be worth it.

    Post # 58
    Member
    2299 posts
    Buzzing bee
    • Wedding: June 2010

    We make about $10-$11K/ year. Where we live it’s very possible as long as you aren’t spend thrifts, but it’s not always easy. We are very frugal and don’t go out to eat very often or buy any extras so it works out! We see movies that show on campus for $2/ ticket and we’re happy with that. It’s crazy for me to think that some Bee’s make $100K+ and how it doesn’t go very far. One of the many perks of living in an isolated small town:)

    Post # 59
    Member
    456 posts
    Helper bee
    • Wedding: May 2012

    salaries are quite high here but then again so are taxes (nearly 50%) and the cost of living is ridiculous so making 200,000+ is comfortable but not rich by any means.

    The topic ‘Spinoff: How much do you make per year?’ is closed to new replies.

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