Anonymous User wrote: Anonymous User wrote:
Anonymous User wrote: In law school I basically lived on 24,000 a year in DC when you factor in how much of my loan went to school.
Did you live under a bridge in southeast DC? I clerked for a year in DC after I graduated and even with a tiny 1 bedroom apartment out in bumblefuck Alexandria (I was less than a mile from Springfield) and a $63k /year salary, I barely managed to save to save anything. DC is really expensive, for what it is.
Anonymous User wrote:I'm living in a super nice area of brooklyn on 56k with one roommate in a small 2br. . . . on my 45k-ish take home this year I will start saving. I have no plans for children for at least 7 years, so I'm feeling pretty confident now!
How are you seeing a $45k take-home on a $56k /year salary in NY? That doesn't sounds right, unless you're evading taxes. $56k /year should be around $40k /year take-home in NY after federal, state, local, medicare, medicaid, and social security taxes, assuming your single and one allowance (for yourself). See http://www.paycheckcity.com/calculator/salary/result
. Take out health insurance and other various deductions, I'd be surprised if your take-home is over $37k /year, assuming you're not evading taxes. $37k /year is rough in a place as expensive as NYC. How much are you saving from that? (I'm impressed that you're able to save anything, but I guess willingness to live with a roommate, out in Brooklyn, and in a small apartment helps.)
Yeah definitely not evading taxes, and I did the same thing with a calculator and got 44 soooo don't know what to tell you there.
I lived in NW DC all four years, paid less than $1200/mo for rent, and got a stipend for the summers while doing PD work, so its closer to 27,000 per year. It all depends on how you live. I don't have anyone to support but a chubby cat, I had no issues whatsoever.
"Out" in Brooklyn....yeah I'm in park slope with one roommate in a 2br. I VASTLY prefer this area to Manhattan, and I'm a 20 minute subway from midtown. It's small but really nice, and my bedroom is actually very large by ny standards. I don't feel the need to live any kind of life of luxury but yeah, I put away a little something every month. Don't know what to tell you....sorry it worked for me and not for you? It's doable with my lifestyle, as I said before it would not be doable if I were supporting a child. and DC was a breeze so I really can't tell you why that was so tough for you. Most of my friend took out fewer loans than I did and lived on way less than that per year, but the lived in group houses so rent was closer to 600-800. I have always had roommates but in apartments with private bathrooms. I plan to have roommates until I move in with my boyfriend. I prefer it and it is affordable.
I make a budget for myself in a spreadsheet and keep track of the money I spend. I encourage other to do the same. My routine expenses now are the gym (70/mo) mani-pedi (30/month) and groceries (150/mo). My utilities are included in my rent. I avoid eating out and don't have pricey binge drinking nights that I had on occasion in law school. I make coffee and tea at home and don't buy it. Maybe its the little things, but it works and I'm very happy!
Just wanted to update on this now that I have a few paychecks under my belt (same anon here.) My take home is most definitely $43 (a little higher right now because I am opted out of health care until I turn 26, but for planning purposes I still budget at 43) and this has been really doable for me. My rent is $1400/ month in a nice area of park slope in a really cute place. My job DOES cover my transit pass, which saves an additional $112 per month that I was not expecting, which is a great bonus. And I did get a raise so my salary is 58, not 56.
I feel very comfortable. I won't save a buttload this year, but I will save a chunk and have room to spare on a vacation. All in all not bad for a 25 year old with no kids. Next year I'll make a little more and be living with my boyfriend so paying only about 1200 in rent for my share of a one bedroom. IT IS VERY DOABLE PEOPLE. DON'T BE DISCOURAGED FROM A JOB YOU CARE ABOUT BECAUSE YOU SEE A SALARY IN THE 50s in NYC. You won't e in that 92 mil penthouse that has gone viral, but you can be a happy camper with a cat in the fancy part of brooklyn