“A first-year teacher at Rockford with a bachelor’s degree would have a starting salary of $37,184”
$37184/9=$4,131.55*12=$49,578.67
That is nearly 5% higher than the starting salary of many undergrads hired into manufacturing. Plus, I am being generous in crediting them with actually working 9 months, I suspect it is closer to 8...
Starting salary of $37,184.
$3098.67 a month is what this teacher would be making.
Let's begin by taking 30% of that for taxes, union dues and such things.
That would be $2169.07 free and clear every month.
Now since this a starting teacher who is hip I am going to put him in a nice apartment right in the middle of the city at $699.00 a month. This would be a large one bed room with 860sqf. Washer/Dryer enclosed garage,wi-fi and utilities except electric and cable. Let's give him $50.00 for the electric and $100.00 for cable
This leaves $1320.07
Now our teacher wants a nice car so I gave him a brand new 2012 Mustang. No money down and a 72 month loan makes for a $468 car payment. Plus $75.00 for insurance and $120.00 for gas.
Now let's add in his student loan. $242.82 is the average so let's use that.
That leaves $414.25 a month for food, clothing and entertainment.
Sounds pretty good to me.
My husband and I eat and live just fine on $25,000 a year. We don’t own our own house and we don’t eat out every day. We eat a lot of pasta and the like. One year we only made 18,000 (our first year) but we are happy with what we have!!
37,000 a year sounds like wealth to me!! I work in foodservice and hubby does church work. We will never be wealthy people. Of course a lot of churches pay pastors with families more than that(so you can feed your kids).
Does this person have children?