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How much money do you have to a make to have comfortable living

Discussion in 'BBS Hangout' started by rockbox, Jan 30, 2007.

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No Worries Member

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finalsbound said:

How much is the cost of living in Austin compared to other Texas cities?
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The only difference I saw was that Austin house prices may be a bit higher. Given that the current mortgage rates are still low, this should not that big of deal.

#61 No Worries, Jan 31, 2007

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My idea of comfort is if you get to a point where you can pay all of your bills with one paycheck (if you get paid twice a month), and the second check is for whatever you want to do with it.

#62 glad_ken, Jan 31, 2007
Xerobull ...and I'm all out of bubblegum

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According to this Cost of Living Calculator

If you move from Houston TX to Austin TX...

Groceries will cost: 5.996% more
Housing will cost: 20.205% more
Utilities will cost: 1.981% less
Transportation will cost: 0.152% less
Healthcare will cost: 6.812% more

#63 Xerobull, Jan 31, 2007
rockbox Around before clutchcity.com

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finalsbound said:

How much is the cost of living in Austin compared to other Texas cities?

When I find a good job with a degree in my hand (not necessarily the first job I get, but later down the road), hopefully I'm making at least 50-60K. If I add roughly the same for my future husband, thats anywhere from 100-120K. We'll need to factor in a kid (maybe not yet), house payments, all bills, food and gas, and all other grown-uppy costs. The only other things I'd want would be high thread count sheets and NBA League Pass. And a trip to a nice restaurant for steak once a month.
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Only the costs for housing is more here. Everything else is the same. Well actually, gasoline is about 5 cents less a gallon from what I have noticed. There are also less cheap eats here except for Tex Mex.

One thing to remember is a long commute here is 20 miles and that means from one end of town to the other. The Austin area is only the size of the inner loop so you don't put as many miles on the car as you would in Houston.

#64 rockbox, Jan 31, 2007
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The more you make, the more you spend. About a year ago I took a new job that was about a 30k raise over what I was previously making. But of course now I go out a lot more, bought a new car, and spend more money on things I don't really need but want. Add to that the fact that I got divorced recently and have had to learn to live on single income...I don't really feel like I'm making that much more.

#65 Harrisment, Jan 31, 2007
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Reminds me of the show Wall Street Warriors...FU money...

For me, I guess it would be $10 - $20 million...One is never enough...

Now if we're talking salary, then maybe another $50K would do...

#66 rrj_gamz, Jan 31, 2007
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wow, ask a question, get some answers...and then a lot of people criticize. (not me specifically, but just general criticism it seemed like)

I know we're richer than the rest of the world generally. I do feel lucky, and I realize I'm living at a higher income level than the average.

But all that doesn't prevent me from feeling like making a little bit more is where I'd feel comfortable. Sure, if my first job had been making 30k and living in a place where I could get a place for 300/month or something, then I'd have different standards. All our standards are made from our experiences.. so we're going to have vastly different points of views.

So congrats if you can live on less than others. And it's cool if you need a lot more. As long as you're finding a way to stay happy--hopefully not solely based on income.

#67 kaleidosky, Jan 31, 2007

F.D. Khan Member

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I think Madmax hit the nail on the head. Its not about living comfortably here in the US, as even the poorest live better than most in the world.

Its the NEEDS that we now feel that we MUST have and that we are entitled to whether we can afford it or not.

Everyone now Needs a:

Cellphone
Bottled Water
Newer Car
Rockets Tickets
Computer
Internet
Cable

Etc.

Those are all just wants. What upsets me is a few times during Thanksgiving and Christmas we (With Rotary) were delivering food to families in 'need'.

When I'm carrying the food inside I realize they have a bigger television in their living room than I do, an X-Box, cell-phones and brand name Nike shoes and apparrel that is not cheap at all.

If people would prioritize their lifestyle and focus on needs instead of wants, then life could be comfortable for many people without needing handouts from the government.

#68 F.D. Khan, Jan 31, 2007
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F.D. Khan said:

I think Madmax hit the nail on the head. Its not about living comfortably here in the US, as even the poorest live better than most in the world.

Its the NEEDS that we now feel that we MUST have and that we are entitled to whether we can afford it or not.

Everyone now Needs a:

Cellphone
Bottled Water
Newer Car
Rockets Tickets
Computer
Internet
Cable

Etc.

Those are all just wants. What upsets me is a few times during Thanksgiving and Christmas we (With Rotary) were delivering food to families in 'need'.

When I'm carrying the food inside I realize they have a bigger television in their living room than I do, an X-Box, cell-phones and brand name Nike shoes and apparrel that is not cheap at all.

If people would prioritize their lifestyle and focus on needs instead of wants, then life could be comfortable for many people without needing handouts from the government.
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Couldn't agree more with that.

#69 pirc1, Jan 31, 2007
MR. MEOWGI Contributing Member

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F.D. Khan said:

I think Madmax hit the nail on the head. Its not about living comfortably here in the US, as even the poorest live better than most in the world.

Its the NEEDS that we now feel that we MUST have and that we are entitled to whether we can afford it or not.

Everyone now Needs a:

Cellphone
Bottled Water
Newer Car
Rockets Tickets
Computer
Internet
Cable

Etc.

Those are all just wants. What upsets me is a few times during Thanksgiving and Christmas we (With Rotary) were delivering food to families in 'need'.

When I'm carrying the food inside I realize they have a bigger television in their living room than I do, an X-Box, cell-phones and brand name Nike shoes and apparrel that is not cheap at all.

If people would prioritize their lifestyle and focus on needs instead of wants, then life could be comfortable for many people without needing handouts from the government.
Click to expand...

This country runs on greed and materialism is our true religion. It is the foundation of our society. We can't have it both ways.

#70 MR. MEOWGI, Jan 31, 2007
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As long as I can lay my head to sleep at night with peace and a clear conscience, I'm good.

#71 rhester, Jan 31, 2007
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as long as i'm debt-free, can eat 3x a day, watch rocekts game....

feed my family...

that's life..

#72 Highwire, Jan 31, 2007
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It's not how much money you make, it's what you do with the money you make.

I don't make a lot of money, but I save as much as I can afford to without going hungry. I contribute 10% of my salary to my 401K, put all my band money in a savings account (about to switch to ING with that nice interest rate!), and don't buy anything I don't need. I pay my CC bills IN FULL every month, no questions asked.

Too many people are spending too much money on too many things they don't need so they can come across as being better off financially than they really are. I don't give a crap about stuff like that.

#73 ima_drummer2k, Jan 31, 2007

rockbox Around before clutchcity.com

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ima_drummer2k said:

It's not how much money you make, it's what you do with the money you make.

I don't make a lot of money, but I save as much as I can afford to without going hungry. I contribute 10% of my salary to my 401K, put all my band money in a savings account (about to switch to ING with that nice interest rate!), and don't buy anything I don't need. I pay my CC bills IN FULL every month, no questions asked.

Too many people are spending too much money on too many things they don't need so they can come across as being better off financially than they really are. I don't give a crap about stuff like that.
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So can you put a dollar amount on what it takes you maintain this comfortable existance.

I knew it there would large disparities among members. I just wanted to get a feel for what people thought was reasonable.

#74 rockbox, Jan 31, 2007
ima_drummer2k Member

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rockbox said:

So can you put a dollar amount on what it takes you maintain this comfortable existance. .
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Well, to tell you the truth, I'm not real comfortable divuldging my yearly salary on an internet message board. Just one of those little hangups I have.

But like you said, there are too many variables. Where you live, size of your family, age, not to mention "comfortable" can mean many different things to many different people. I would probably fall on the lesser end of the spectrum as far as how much I need to be comfortable.

Translation: I'm a tightwad.

#75 ima_drummer2k, Jan 31, 2007
room4rentsf Member

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Everyone has their own standards for what constitutes a comfortable living.

But I know what makes me uncomfortable:
Not saving any money every month I would feel uncomfortable.
Living paycheck to paycheck
Renting

I also live in San Francisco and the cost of living is ridiculous out here. Pulled from money.cnn.com site.

Salary in Houston TX: $50,000
Comparable salary in San Francisco CA: $98,188.28

If you move from Houston TX to San Francisco CA...

Groceries will cost: 62.7% more
Housing will cost: 296.384% more
Utilities will cost: 2.69% more
Transportation will cost: 27.331% more
Healthcare will cost: 25.201% more

To live and own a home here you need a combined income of well over $100K

For me to feel comfortable I would like to have all my debts paid off and save 15% every month.

#76 room4rentsf, Jan 31, 2007
Last edited: Feb 1, 2007
Yonkers Member

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If I still had a house payment and debt then I would say $100k at least to be comfortable. Otherwise I would say $70k would be sufficient. Now that's comfortable as in I could live my life the way I want without being too severely limited by resources. So I could go out to eat at restaurants without worrying myself grey over it.
But I would need to make more than that if I want to prepare for retirement and save the way I really want. I want to retire with at least $5-6mil (inflation adjusted). And living off of $70k would not allow me to do that.

#77 Yonkers, Jan 31, 2007
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F.D. Khan said:

If people would prioritize their lifestyle and focus on needs instead of wants, then life could be comfortable for many people without needing handouts from the government.
Click to expand...

I love Faisal D. Khan's received wisdom and lectures when delivered from on high.

The extra bit of momentum gathered on the way down really drives his point home.

#78 SamFisher, Jan 31, 2007

Master Baiter Member

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SamFisher said:

I love Faisal D. Khan's received wisdom and lectures when delivered from on high.

The extra bit of momentum gathered on the way down really drives his point home.
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LOL, nice find

#79 Master Baiter, Jan 31, 2007
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Master Baiter said:

LOL, nice find
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I agree. That's pretty funny.
But I still agree with F.D. Khan's post. If you're getting Christmas or Thanksgiving handouts and you have a 40" TV and Xbox games, then maybe you need to spend your extra money on something else.

#80 Yonkers, Jan 31, 2007

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