Let's say you just graduated college and got a job. How much would that salary be to be able to live on our own and not go back into your parent's house. You have some student loan debt as well.

Let's say the job is in a northwest suburb of Dallas (coppell/carrollton/grapevine/lewisville).

This isn't for me...I was giving my buddy **** for finally moving out of his parent's house after two years and he's had a job the entire time. He got a new job. He said, "not everybody makes oil money."

50k

p. 1

Working 40 hours a week at minimum wage ($7.25) is a gross income of $15,080/year. Total income and payroll taxes come to $2750.71/year. That gives you a net monthly income of $1027.44/month. That's without any government assistance, which this person may be eligible for if he or she chooses to take it, but it wouldn't be much.

So, at $1027.44/month, you get a roommate and are probably driving a junker and taking the bus, and eating plenty of raman and baked potatoes, but that's doable. Don't know what the minimum payment would be on the student loan, but making minimum wage, I'm guessing the minimum would be pretty low if it's a government loan. You could even save $100/month.

So, the answer is, if you're working 40/week and getting minimum wage, you don't have to live with your parents.

My first "real" job I lived in Houston and made 40k and lived comfortably, though I wasn't far enough removed from college to really be spoiled or picky about my lifestyle. I couldn't go back to making that now and truly be comfortable, even if I was single.

You can support yourself on as little as 20k. Going home to your parents makes you a bum.

quote:

---

I couldn't go back to making that now and truly be comfortable, even if I was single.

---

For the record, I agree, but I would also never be comfortable living with my parents.

Hey Agla, did your standard of living/expectations take a dip upon moving back home? I'm hoping that we are able to take a step back in extravagance when we leave Saudi, if only for a while. I'm a litle afraid that it will be VERY easy to go nuts and spend a bunch of money as soon as we're back.

30k could probably work... I started a little higher and had no issues

If you want to live on your own, and drive a reasonable vehicle, that salary better start with a 3.

$110k

Mayor, I'd say 4. Bring home slightly less that $3k a month

If you're so entitled that you demand the same comfort and lifestyle that your parents can now currently provide, then no salary is going to get you out of the birds nest.

quote:

---

Hey Agla, did your standard of living/expectations take a dip upon moving back home? I'm hoping that we are able to take a step back in extravagance when we leave Saudi, if only for a while. I'm a litle afraid that it will be VERY easy to go nuts and spend a bunch of money as soon as we're back.

---

It definitely required some discipline. We made a very specific budget before we left Dubai because we anticipated that it would be tempting to go nuts when we got back. The good thing was that we had paid off every single debt over the course of our time overseas, so that wasn't an issue. The biggest challenge for me was that we were both technically unemployed for almost 6 months when we came back (husband was doing contract work, but it was sporadic) and we had budgeted to be able to live solely off savings for 18 months in case neither of us found work. I knew in my mind that it wouldn't take that long, so it was hard to stick to the budget when I had become accustomed to just doing/buying anything I wanted without a second thought. Funny how easy it is to get used to an higher standard of living, but not so easy to go the other way!

I'm really confused at some of the numbers being thrown out (except for skran's number, which is clearly calculated for optimal smartassness). I'd be curious to see the budgets some of you are assuming. What are you spending so much money on that making less than 30k (or 40k) means you can't make it on your own?

I was the typical college idiot with a **** ton of credit card debt and college loans. I was able to pay off the credit card debt, get ahead on my college loans and still not live at home. I also partied hard. Most of my money was spent on booze/food on the weekends.

Alias: student loan debt.

What sort of payments are you looking at monthly? Don't the minimums slide with your income for government loans?

I'm not saying that it doesn't sometimes make financial sense to live with your folks, and in fact it ALWAYS makes strict financial sense to do that if it would save you money. I'm just saying that it is almost always a choice that somebody makes, not a necessity. But people like to pretend like it's a necessity.

I make low 6 figures and am barely scraping along.

in Midland?

No idea. My payments are reasonable. I don't live at home and while I don't drive a brand new car or in a fancy apartment, I have fun money and I can save.

I do know other folks who's payments are $750/month or more, who don't make much more than I do (I also make more than $40k).

quote:

---

in Midland?

---

Yep.

[This message has been edited by Garlandag2012 (edited 5/14/2013 8:21a).]

quote:

---

Let's say you just graduated college and got a job. How much would that salary be to be able to live on our own and not go back into your parent's house. You have some student loan debt as well.

Let's say the job is in a northwest suburb of Dallas (coppell/carrollton/grapevine/lewisville).

This isn't for me...I was giving my buddy **** for finally moving out of his parent's house after two years and he's had a job the entire time. He got a new job. He said, "not everybody makes oil money."

---

It all depends on your lifestyle. Just quick google searching I've found apartments both in Dallas proper and places like Little Elm that are in the $500s. I'm sure a day of searching, you can find below that. Yes, its a small, cramped apartment, but so what.

Rent, car insurances, utilities, etc. are expensive but probably on average around $1000-$1500 for most folks.

What determines it for most people is the extras. Cable TV, internet, smart phones, bar money, etc.

Most people who live at home say they are doing so to save, but what they mean is have all the luxury items they want and still save.

I don't want to get into your personal business, but that seems a bit odd

internet is no longer a luxury

I made 58 right out of school and barely felt like I had enough with rent, credit card payments and loan payments.

quote:

---

I made 58 right out of school and barely felt like I had enough with rent, credit card payments and loan payments.

---

In Texas, I assume? Then you're terrible with money. There's no other way to say it.

I know folks who make half of what I do and are able to live comfortably and save. Of course I spend all my money on women and whiskey, the rest I just waste.

quote:

---

quote:

---

I made 58 right out of school and barely felt like I had enough with rent, credit card payments and loan payments.

---

In Texas, I assume? Then you're terrible with money. There's no other way to say it.

---

I forgot to add the other necessary expenditures in there. Booze, toys, etc. Do those matter?

quote:

---

I don't want to get into your personal business, but that seems a bit odd

---

Yeah, I'm not cut out for this trolling thing. I'm doing just fine, saving 2-3k a month. Housing out here is super expensive though.

[This message has been edited by garlandag2012 (edited 5/14/2013 8:32a).]

I made about 58k out of school with 30k student loan debt, and I was able to save about 1k a month after all of my other expenses. I lived alone in an apartment.

quote:

---

Housing out here is super expensive though.

---

compared to where?

I'd say $50K is the bare minimum