I don't make 45...I make around 40k, but that is a decent salary.
My biggest payment right now is my car which is about $700 a month plus $150+$140+$100 a month on top of that.
And I travel a lot. Maybe like every 3 months or so.
If you plan to travel once a year somewhere big, then you will fine.
Just don't get crazy spending, like me.
You're making a decent salary right now, save for your future!
There are many factors you must take into consideration to be able to determine your level of comfort with your income. These factors include automobile costs (gasoline), food costs, bills (rent, utilities, car payment, credit cards, etc.), whether you have pets and/or children, whether you're in a relationship (cost of buying them things). I could go on but you get my point. Where you live also plays a huge factor. For example, if you lived in a smaller town in upstate New York then $45,000 annually can go far. If you live in New York City and make $45,000 annually then you're not making much at all. If you can keep your costs down then it will help you a great amount. If you are not home very often then go with a smaller television package, if you live in an apartment community that offers free wifi then you don't have to pay for internet, and more things along those lines. Lower costs, be smart, plan ahead.
If you're just starting a new job or are thinking about making changes on your W-2 and would like to see what your take home amount would be I suggest using the calculators at www.paycheckcity.com, they are always in the range of what I bring home with a margin of error of a few pennies.
yes it really depends on a lot of factors
other expenses and debt definitely factor in
it would also depend on whether the salary is appropriate for the position as to whether its ok or not but you know that as well as anyone
my advice would be to find a way to get on the property ladder in such a way as to make your life nearly rent free.
you do that by getting a bigger place than you need and renting out the rest of the space. seriously good idea even saving 500 a month on rent is 6000 per year and you can vacation for 2 on that money easily
If you're living on your own with no debts to deal with and no kids to support and take care of, that's MORE than enough to live off of.
$45000 works out to be $3750 per month before taxes are deducted. The amount of taxes deducted will vary depending upon where you live. But you'd be able to save up for a trip easily and live a very comfortable life.
Don't go to college if 45K is the average annual income after 20 years experience.
Not worth it.
In other words could I be going on a vacation somewhere decent once a year. Decent meaning somewhere tropical like Bahamas or Puerto Rico. Not every year. I have no student loans or any other debt currently. Just rent which is going to be $800 a month. Haven t quite figured out other bills yet. Preferably someone with the same salary range for advice. thanks.
