How do I live on a 30,000 salary?

Expenses:

-1700/year (full coverage insurance for new car %26amp; I have accident record) --- Do I need full coverage for new car or is there a better deal?

- 1800: 150 * 12 months (School Loans)

- 648: 57 * 12 months (2 year contract cell plan) -- not willing to cancel plan because I want to always keep my original number.

How much should rent, utilities, food, miscellaneous (medical, car maintenance, etc), %26amp; gas cost?

My gas almost $40 per complete fill. New Location would be in SF Valley, CA. How do I do tax?

Any advice would help!! I really appreciate it -- I%26#039;m moving/getting kicked out of my parents house with no help.

How do I live on a 30,000 salary?

If you can find a cheap place to live (not sure how cheap you can go in your area) or maybe find a roomie who would be willing to split rent with you that would help signifigantly. Start by figuring up your basic expenses every month (the ones you already know about and have listed) then figure up how much money is left. Try to approximate how much gas money you will need everyweek and figure on $30-$100 per week on groceries depending on how you plan on eating. If you go for ramen noodles and spaghetti o%26#039;s you will be doing much better than going for fancy meals. I would recommend that you count on not going out to eat at all because that is a major drain on your money. Figure on taking your lunch to work( think sandwiches or leftovers). Pretty much figure everywhere you can save money and go for it. Try looking around the area you move to for the best deals at the grocery store too. There is bound to be one store that is quite a bit cheaper than the others. You medical insurance will depend on your workplace. Do they offer medical and how much is it per month. Different places and plans can vary a lot so your best bet is to check with your HR department for the info that you need. Car maitenence is a funny thing because with a new car you shouldn%26#039;t have much other than and oil change every 3000mi or 3 months. Those usually run about $20-$40 depending on your area. Don%26#039;t forget to also count in laundry money, parking, and other random expenses you might have. Also count on about $20 per week or so for general purchases like soap and detergent. Good luck and I hope this helped! If all else fails you might have to sell your new car and get a cheaper one. As long as you have a loan on a car you have to have full coverage insurance according to most banks/lenders to protect their investment.

How do I live on a 30,000 salary?

There is no easy answer to this. You are just going to have to sit down and do a budget. There are too many variables for anybody to give you a set answer. I can tell you that plenty of people live on 30k (even less) comfortably.

Nobody can tell you how much gas you will use - make the drive and figure out how much it takes and you%26#039;ll get an idea. Or figure it out by the miliage and what your gas miliage is.

Insurance - Most states require full coverage if you are still paying for the car.

Rent - Can vary GREATLY depending on part of town, house or apartment, etc.

Utilities - Can vary GREATLY. Once you%26#039;ve found a place you are interested in, call the utility companies and ask them what the utilities ran at that location for the last 6 or 12 months. They can and will give you that information.

Groceries - How much do you eat? How WELL do you like to eat? Grocery prices can vary from store to store. If you take the time to clip coupons you can save quite a lot. Especially if you hit the double-counpon days.

You need to do a budget. There are a lot of financial advisors that would meet with you one time to help you with this. They might charge you $100 or so, but it would be money well spent to figure out what you are looking at.

Perhaps check ads for someone looking for a roommate?

How do I live on a 30,000 salary?

Here%26#039;s your guide. Instead of going by current expenses, look at what you can afford. Then make cuts accordingly.

Of your total income after tax:

15% - transportation

35% - rent, utility bills, cell phone

15% - debt, loan payments, etc.

25% - other living expenses like food and clothing

10% - savings

So, on $23k per year (after taxes), you can spend:

$287 per month on gas, car payments and insurance total

$670 per month on rent, bills, and phone together

$287 per month on loan payments

$479 per month on food and clothing

$230 per month in savings

Any further expenses means you can%26#039;t afford it.

How do I live on a 30,000 salary?

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How do I live on a 30,000 salary?

Your car insurance is based on your individual needs. You say 閳ユ笜ew閳?car. Do you own it outright? If not, the loan carrier likely requires you to carry full coverages. If you do own it, ask yourself if you could afford to replace it if you do wreck it and lacked full coverage.

Student loans can be deferred if you閳ユ獧e having financial issues. I called my loan company, told them I had to make some car repairs and getting married soon and that paying loans was more than I could handle right then. That閳ユ獨 all it took.

You can keep your cell phone number no matter what you do. It閳ユ獨 called number porting. Google it.

I can閳ユ獩 tell you what stuff will cost in your market, but I can tell you that I way underestimated the cost of food, utilities, personal care, and miscellaneous expenses when I first got out on my own. I would suggest you start with a roommate rather than trying to go it alone until you figure out if your salary is enough for where you live.

How do I live on a 30,000 salary?

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