$4700 monthly income
- Thread starter tritonheat1
- Start date
depends on where u live. if u live around the bay area or manhatten 4700 or 5000 dollars a month will get u by with housing and entertainment. a decent 1 bed room apartment in manhatten is at least 1500 and i'm afraid of what it is like out in san fran or san jose. plus it depends on what else you spend on too. like if u are into electronics, sports, gambling, music, movies, pets, fine wine? it all depends, but 4700 to 5000 a month you can have any car you want as long as you plan a head in fact you can have a brand new ferrari in a about 5 years counting a nice return from 5 years of saving of course
Yes, my cars are paid for and I have no credit card debt. I pay for everything in cash*, and have plenty of money in my 'rainy day' account..tritonheat1 said:
*Actually, to be technical, I pay all my daily stuff(gas, food, groceries) on my credit card, then pay it off at the end of the month..
Chiguy_2002
Member
- :
- 2003.5 Mazdaspeed Protege to 2006.5 xB to 2004 Forester XT
That's a good income around here. I live in TX, so that amount will go really far, but I'd have to be a Network Admin or something and not a Level 1 Support Person. It really all depends on where you live, cost of living is low here, but of course income is lower as well. If I made that much, I would be living in a house with a two car garage, and have two cars, my MSP and P5 for a daily driver. I would put the rest in saving. I would also live close to where I work, so gas won't be that bad, saves the miles on the car as well.
Double income helps a lot, between the wife and I we gross $110-120,000/yr but increased bills become a part of life as well. Since getting married we added three mortgages, paid off two of them as we sold those places, two car payments, less than $500/month for both cars and only $1200 interest total, insurance, homeowner's and auto, Property tax and of course the biggest expense was adding two kid's. Between food, diaper, daycare and the other stuff that you buy that can add up to alot. Add in that we live in Southern California to the cost of living is up there. It all does depend on how you budget your money though, we actually live on about $5200 a month net since we put 20% of our paychecks in to our 401Ks, fully fund our Roth IRAs every year and have pre-tax money taken out to pay for daycare expenses. All of this really reduces your taxes at the end of the year, our taxable income is more in the $60-70,000 range after everything is said and done and we still have a litle money left over every month, well except this year but that's due to going to Japan twice and Australia once all within the course of 11 months, so that sort of chewed up the extra money.
Leonardo said:
Sounds like me
We don't have a lot of Money left over but I do put 10% in the 401k plus they match. I have to pay 5000 a year for medical insurance, 1800 a month for the CASA http://www.msprotege.com/members/yashooa/DSCF0735.JPGwhich for the house I have is really low, and I have 87,000 in equity but even still I have about 4900 a month in bills but soon that will go down to 3900 and the Wife works so we get by and some day (hopefully) we will retire on our investments.
We stopped eating out as it was CRAZY expsensive once we actually added up all the reciepts we almost fainted.
Next she gets an RX8 and I drive her PR5 whilst I fiddle with DA SPEED!
$6,000.00 a month (gross) is not a lot of money at all. You net $4900? That means you just paid 13k in taxes (annual). Then, come April, you're gonna have to pay another 2k just for making that much money (more taxes). You're down to 4700. Mortgage? 1200, your at $3500. Gas 200/mo? $3300 Two car payments 600: $2700. Car insurance for both cars 300/mo: $2400. Groceries 300/mo (if not more) $2100. 401k (2%) 120/mo: $1980.00. Utilities: 100power 30water 10garbage 50gas(?) 200: $1780. Phone 25 Cable 40 DirecTV 60 Internet 40 cell phone 50... 215: $1550. Property Tax, variable (100-300/mo, we'll assume the larger) $1250. Small BS that builds up (cigarettes, etc) 300-400/mo: $850.00. Entertainment (movies, rentals, etc) 150: $700.00. Going out to dinner (nice dinner) 4 times a mo w/ kids, wife, etc. 300: Grand total $400.00.
If any of these numbers are understated (mortgage, property tax, etc), you can not save money. It has nothing to do with your gadgetry habits. You just have too much overhead and not enough income to offset it. You pay for what is important to you. People say "live within your means", and you can certainly do that. I've heard (my pops was a smart man, thank god he doesn't go on the internet to read this) that there are only three kinds of people... The people that care about where they live, people that care about how they look and people that don't care about either. If you care about where you live, you spend your money on your house. If you care about how you look, you spend your money on your car. If you don't care about either, your care is about money and you will always have it.
Hope that helps.
If any of these numbers are understated (mortgage, property tax, etc), you can not save money. It has nothing to do with your gadgetry habits. You just have too much overhead and not enough income to offset it. You pay for what is important to you. People say "live within your means", and you can certainly do that. I've heard (my pops was a smart man, thank god he doesn't go on the internet to read this) that there are only three kinds of people... The people that care about where they live, people that care about how they look and people that don't care about either. If you care about where you live, you spend your money on your house. If you care about how you look, you spend your money on your car. If you don't care about either, your care is about money and you will always have it.
Hope that helps.
This is the reason I give all the money to DA WIFE! I can't stand seeing all the bulls*** that comes out of my check. Taxes, and Insurance are a straight up raping! Heck with kids that water bill can go much higher as the you have to do more laundry, wash more dishes and girls take a lot of showers! Plus I have to water 21,000' of sod that is in large part dead thanks to the drought and I have to repair the sod thats an ass kicking in and of it's own DAMN selficespeed said:
Last edited:
Hephaestus said:
lol that was assuming a hefty down payment fixed over 30years that he may (should) have made 5 years ago.
Down here in Coral Springs (S.FL) a 3-2, 1500sqft (a/c) is going for around 575k, property taxes @ 20k/year. Conversion Condo's (3-2) are beween 200k and 250k & 8k for prop tax.
I make a little less than stated in the first post. Best thing I ever did was buy a townhouse in Baltimore. Sold it 2 years later and walked away with what I think is a lot of money. Moved to Georgia, built a 2200 sq. ft. house (have 75k in equity from the down payment and the appraisal increase), some new furniture, and a LOT of bills paid off!!!
I drive an MSP, not modded Wife drives a POS saturn, which I hope will die soon! Sure, I have some toys, but not too much. We have money set aside in 401k's, IRA's, and money market accounts. Hoping one day to start custom automotive painting.
My goal is to eventually be my own boss
I drive an MSP, not modded Wife drives a POS saturn, which I hope will die soon! Sure, I have some toys, but not too much. We have money set aside in 401k's, IRA's, and money market accounts. Hoping one day to start custom automotive painting.
My goal is to eventually be my own boss
I bring home around $5600/month.
I still pay bills? I don't understand the point of this post? Are you wanting to know what kind of car I would drive making this kind of money and had no other financial commitments? I would be driving a late model sub $20k 0% financed car?!
I have a mortgage payment, insurance, gas/electric, etc...
I drive a PR5? And make monthly note payments bc it was same as cash? Why would I finance a car with interest to the bank? If I needed $ that badly, I would get a home equity line and use the tax advantage. My lovely wife drives a 2001 MPV? Why don't I drive a nicer car? Why should I? I would rather save the money now and plan for my future. I hate to say this, but cars are a serious waste of money. The ROI is historically not in your favor. Yeah, there are a few cars that you can buy now thatmight be worth something someday but the market is so 'on the edge' that it more than likely won't work out.
Most of our money goes into 401k, the kids school funds and bonds. I won't do the stock market on my own, too risky.
I still pay bills? I don't understand the point of this post? Are you wanting to know what kind of car I would drive making this kind of money and had no other financial commitments? I would be driving a late model sub $20k 0% financed car?!
I have a mortgage payment, insurance, gas/electric, etc...
I drive a PR5? And make monthly note payments bc it was same as cash? Why would I finance a car with interest to the bank? If I needed $ that badly, I would get a home equity line and use the tax advantage. My lovely wife drives a 2001 MPV? Why don't I drive a nicer car? Why should I? I would rather save the money now and plan for my future. I hate to say this, but cars are a serious waste of money. The ROI is historically not in your favor. Yeah, there are a few cars that you can buy now thatmight be worth something someday but the market is so 'on the edge' that it more than likely won't work out.
Most of our money goes into 401k, the kids school funds and bonds. I won't do the stock market on my own, too risky.
tritonheat1
Banned
- :
- 06 MS6, 98 A4 1.8T Rebuilt
DeanSweet said:
The reason being for this post" was the fact, i wanted to know what would you do with the money, how would you budget your money.. and what would you be driving! B/c $4962 a month take home isn't bad compared to other job's! I mean i live in the Valley (Fresno/Hanford) area. I don't live in the Frisco, L.A., or Diego where money is an issue for the most part. But it aint cheap down here either. Houses are going for 350K+ for 4bed 2bath 1800Sqft house Right now! I bought my house back in 00 for 120K brand new 4bed 2bath 1600Sqft! I got the House Appraised for 200+K and Refinanced not to long ago.
Close to that but just a bit shy and I just own a Rx8 and not behind on anything though putting as ass load away in savings.
Also have to look on the area you life in cause 4700 a month here in NOVA isn't a super high amount really.
My biggest expensive if of course food. Working nights I rarely make anything and normally all that is open is fast food which doesn't last long, oh and gas having to commute 70 miles 1 way in a Rx8 isn't the greatest.
General gas per week is around 100, food around 100-200 depending if I go out with friends on my days off.
Also have to look on the area you life in cause 4700 a month here in NOVA isn't a super high amount really.
My biggest expensive if of course food. Working nights I rarely make anything and normally all that is open is fast food which doesn't last long, oh and gas having to commute 70 miles 1 way in a Rx8 isn't the greatest.
General gas per week is around 100, food around 100-200 depending if I go out with friends on my days off.
- :
- Black RX-8
ok, If I was pulling down $ 5-grand a month, I would... buy a 1st gen rx-7 the first month, then the next month I'd turbo it. then I'd buy some gauges and tires.... The rest would either go to the casino or up my nose. (rofl2)
Similar Threads and Articles
