FROM THE LIST, GET A LOAD OF THIS:
San Francisco, CA: $119,570
Income needed: $119,570
50 percent for necessities: $59,785
30 percent for discretionary spending: $35,871
20 percent for savings: $23,914
San Francisco residents face one of the of the biggest gaps between their actual incomes and ideal incomes needed to live in the city, with the $78,378 median income falling $41,192 short of the income needed to follow the 50-30-20 budget.
Elizabeth Warren Rule..No thanks how about my rule.
0% wants 100% needs
We clear over $300k in Dallas and have only recently felt like we’re comfortable, that is until we have to write the big screw us check to the IRS...
We make six figures in San Jose. Certainly not living the life of Riley.
And now, for those that want nothing to do with cities and living in an ant farm:
I’m in trouble. How much to live in Mexico City?
If they weren’t so graphic heavy with stock photos of cities, the page would load 50 times quicker.
20 percent for savings? Get real, a lot of people don’t (or can’t) save any money. The smart ones do save their money, but many people are living beyond their means and have nothing in the bank. Especially if much of their money is going for rent alone. What’s left gets spent on food and booze.
Here’s a link to the site that really has the info:
http://www.gobankingrates.com/personal-finance/much-money-need-live-comfortably-biggest-cities/
ping for when I’m not so dang busy....
It says you can live comfortably in VA Beach for $50,000. What a load! I’m a single man and I couldn’t live comfortably on that!
The article lists Cleveland as $42,000 to live comfortably. That seems higher than necessary. The author is factoring in that households should be saving 20% of income. Who does that?
We’d be comfy now if I hadn’t lost two jobs and had to spend savings and debt to keep the family afloat for a time in the past 7 years. We are in recovery mode. It’s a long road.
This is pure fiction.