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Anyone else living paycheck to paycheck?

  1. Dec 19, 2007 #1
    $17.26 left in bank account. Can't wait to get paid on Fri. Oh wait that's right, I'll be broke again as soon as I get paid.


    -$433 rent
    -$135 student loan
    -$125 heating
    -$65 cable/internet
    -$55 electricity
    -$125 car insurance
    -$30 water
    -$50 phone

    Hey look at that, that leaves me with $145 for the next two weeks for gas and food.
    Guess I will be eating a lot of Ramen.

    LOL and I thought a $50 K year income was a "livable" income for a single person.
  2. jcsd
  3. Dec 19, 2007 #2
    $1160/month adds up to 13k a year.

    You should get around 2.5k per month after taxes at 50k. Where is the rest of your money going?
    Last edited: Dec 19, 2007
  4. Dec 19, 2007 #3
    that is a bi weekly pay check. $1160 is a biweekly check after tax, 401 k contribution, health, and dental.

    Mid month is

    -$420 for car payments
    -$250 student loans
    -$ whatever balance I put on my credit card at the beginning of the month to help me last until mid month's pay check.
  5. Dec 19, 2007 #4
    You have been working for a while now, why dont you have a raise? 50k is low. My friend started at 55k in HVAC as a mechanical E. Almost all my friends started at 55k.
  6. Dec 19, 2007 #5
    Opps how did this get into politics? Must have made a mistake. Could you please move to general?
  7. Dec 19, 2007 #6
    I used to visit a student website in Japan, those student admins were mainly taught and supported by some in the US, some of them posted a similar thread like. Why shouldn't you go back and search there for this and representatives, living expense supporters, outlook help, etc, they have all sort of news?
  8. Dec 19, 2007 #7

    And I know a lot of college graduates who started at only 30 K. Engineers will typically make more than us science majors. Plus the cost of living contributes to how high salaries go in different parts of the country. Making $65 grand in NYC would be about the same as making $50 grand somewhere else.
  9. Dec 19, 2007 #8
    Oops, srry if it weren't you who posted that thread then forgive my nonsense interrupt
  10. Dec 19, 2007 #9

    Strange. I have no idea what to make of this post.
  11. Dec 19, 2007 #10
    Yikes. 30k a year is appalling. Isnt that borderline welfare income?
  12. Dec 19, 2007 #11
    Yeah, I keep telling my brother that. What do you expect from an art major though?
  13. Dec 19, 2007 #12
    Honestly, I'll probably ending moving back to my parents house for 3 years and using all the money I save on rent and utilities to 1st pay off my car and then put a huge dent in my student loans. :::sigh::: nothing will be worse than being 26 and still be having to live with your parents.
  14. Dec 19, 2007 #13
    What kinda car do you have, and how much are your student loans?

    In the end, my total cost of undergrad is I think somewhere around $22k.
  15. Dec 19, 2007 #14
    I drive a Mazda 3, it isn't like I am driving a BMW.

    I borrowed about $42 K in loans to go to school. If I ever have a kid they are NEVER going to attend a private university. It is a complete waste of money when you can get the same education at a public state university for half the cost.
  16. Dec 19, 2007 #15
    Its scandalous that you have to pay anything for access to Education...
  17. Dec 19, 2007 #16
    yeah tell me about it.
  18. Dec 19, 2007 #17
    That's $10 a day. How much for gas and how much for food?
  19. Dec 19, 2007 #18


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    Homework Helper

    You're paying too much for heat + electricity. See if your area utility has a year-round payment plan. You can live w/o cable; for internet switch to DSL, slim down your phone service to "local/basic" (essentially for 911 calls) and buy the least expensive Vodafone plan that's being offered.
  20. Dec 19, 2007 #19


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    Science Advisor

    1160 * 26 / 12 = $2513/month, with 401k, health, and dental already paid for

    2513 starting

    -433 rent
    -135 student loan
    -125 heating
    -65 cable/internet
    -55 electricity
    -125 car insurance
    -30 water
    -50 phone
    -420 for car payments
    -250 student loans (two separate student loans?)

    =820 left over for food, gasoline, clothes, etc.

    That's actually very good, assuming you work ~40 hours per week. What is your job and how long have you been in that field?

    Your mistake was buying a new car. Everyone on this forum has probably made that same mistake, including myself, but we learn from it. The up front cost is easily 5-10x as much as a good used car, and to add insult to injury, the insurance is several times as expensive because a dealership won't finance the car unless you have comprehensive insurance. Minimum insurance for my car is 150/month now that the car is paid for; it was 350/month for comprehensive in that 6 month period where I owed money on the car.
    Buy only used cars in the future.
  21. Dec 19, 2007 #20


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    Staff Emeritus
    Science Advisor
    Gold Member

    I have to agree with ShawnD: cars are one of the worst debt traps around. Most people would balk at being $20k in debt on a credit card, yet those same people think financing a new $20k car is completely reasonable. In fact, they think, everyone does it, so it's not "real" debt like credit card debt.

    I made the mistake of purchasing a brand-new Honda S2000 when I got out of college. It was fun, but boy, I ended up wishing that I had just bought a used Civic instead.

    - Warren
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