Current Events > Is 5300 dollars a month good?

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GateOfDoom
05/04/24 5:27:59 PM
#1:


If after taxes you clear 5300 dollars a month would you consider that good money?
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C-zom
05/04/24 5:28:46 PM
#3:


Yes. It's about 5x what I make currently.

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#4
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GateOfDoom
05/04/24 5:30:13 PM
#5:


[LFAQs-redacted-quote]

After taxes
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#6
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C_Pain
05/04/24 5:30:59 PM
#7:


That's a yearly salary of 63k, which is at the lower end of middle class in the US so it's alright. Depends a lot of location.

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Hexenherz
05/04/24 5:31:07 PM
#8:


Depends on where you live. In this area that's well below the living income range :(

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Bass
05/04/24 5:31:22 PM
#9:


Depends where you live, but yeah that's better than average in my area.

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archizzy
05/04/24 5:32:19 PM
#10:


It would depend entirely where you live. Where I live in the Midwest you could live quite comfortably. However there are other places where that wouldn't be near enough.

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GateOfDoom
05/04/24 5:33:29 PM
#11:


C_Pain posted...
That's a yearly salary of 63k, which is at the lower end of middle class in the US so it's alright. Depends a lot of location.
Actually it's around 90k gross but yeah around 63k net
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Chadawah
05/04/24 5:34:20 PM
#12:


What about $5400?

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C_Pain
05/04/24 5:37:18 PM
#13:


GateOfDoom posted...
Actually it's around 90k gross but yeah around 63k net
Why does gross pay even matter if you don't receive it?

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rick_alverado
05/04/24 5:38:39 PM
#14:


C-zom posted...
Yes. It's about 5x what I make currently.

Same
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ssb_yunglink2
05/04/24 5:40:01 PM
#16:


rick_alverado posted...
Same
genuine question, how are you guys getting by

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GUNTHER
05/04/24 5:41:32 PM
#17:


If $60K is not enough to live reasonably then something is very wrong with our economic system.

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rick_alverado
05/04/24 5:49:34 PM
#18:


ssb_yunglink2 posted...
genuine question, how are you guys getting by

Don't know about the other person, but I have fairly low expenses. My rent is $375 a month, phone bill is just under $60, internet bill is about $120, and I spend about $400-$500 on groceries a month.
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GateOfDoom
05/04/24 5:51:06 PM
#19:


C_Pain posted...
Why does gross pay even matter if you don't receive it?
I agree but that's what lenders look at when your applying for a mortgage or any loan gross not net
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GateOfDoom
05/04/24 5:52:10 PM
#20:


rick_alverado posted...
Don't know about the other person, but I have fairly low expenses. My rent is $375 a month, phone bill is just under $60, internet bill is about $120, and I spend about $400-$500 on groceries a month.
I currently live with my grandmother but moving out soon and my monthly bills will be about 3500-3800 a month
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ClayGuida
05/04/24 5:57:38 PM
#21:


Yes.

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wackyteen
05/04/24 5:59:46 PM
#22:


That'd be fantastic money for me.

If I had to pay for housing, it'd be okay

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C-zom
05/05/24 7:45:46 PM
#23:


ssb_yunglink2 posted...
genuine question, how are you guys getting by

By the absolute skin of my ass. Pandemic killed my career prospects, more or less starting over. My income vs expensives monthly is perfectly balanced with a $25 difference.

It sucks so bad.

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ShineboxPhil
05/05/24 7:46:15 PM
#24:


That's what I'm pulling about biweekly

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Homeless_Waifu
05/05/24 7:50:13 PM
#25:


tfw When you barely make $800~$1,200

its bs too because if I pick up extra shifts medi-cal boots you out their health plan if you make too much money

and I sure as hell dont wanna pay $112 a month on basic health insurance, especially when I dont go to the doctors to often

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Waxitron_Gazer
05/05/24 7:50:39 PM
#26:


That's more than twice what I make a month.

I would literally be eating lobster and caviar if I had that much money per month.

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Giacomo_Hawkins
05/05/24 7:51:44 PM
#27:


That's quite good, though hopefully you are getting benefits on top of that. Health insurance largely covered by your employer, and your contribution already deducted by the time to get $5.3k take home pay. Similarly with retirement contributions, ideally matched by your employer and you putting in a healthy chunk already factored into what you're taking home.

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DarthAragorn
05/05/24 7:52:01 PM
#28:


That's more than like 2/3 of the country so

Basically you can fuck off with the weird bragging topic

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ManaYuka
05/05/24 7:52:43 PM
#29:


Its good in cities that arent la,New York Miami etc

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TheSuperSilver
05/05/24 7:54:48 PM
#30:


Not good for me. My mortgage and daughter's daycare alone would eat that.

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Homeless_Waifu
05/05/24 7:55:06 PM
#31:


ManaYuka posted...
Its good in cities that arent la,New York Miami etc
I mean for Los Angeles, thats pretty good.
could easily get a car or two with that kinda money while renting a cheap single family home

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DKBananaSlamma
05/05/24 7:59:25 PM
#32:


GateOfDoom posted...
If after taxes you clear 5300 dollars a month would you consider that good money?
Post tax? That's good. I make that if I get an OT shift in a month

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2Pacavelli
05/05/24 8:01:33 PM
#33:


It's good enough if you're good with budgeting and have a reasonable rent ($2500 or less a month)
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GateOfDoom
05/06/24 7:47:52 PM
#34:


DarthAragorn posted...
That's more than like 2/3 of the country so

Basically you can fuck off with the weird bragging topic
Wasn't bragging and no.way is that more than 2/3 of the country
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GateOfDoom
05/06/24 7:48:56 PM
#35:


2Pacavelli posted...
It's good enough if you're good with budgeting and have a reasonable rent ($2500 or less a month)
MY soon to be morgage will be about 1500 a month
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ssb_yunglink2
05/06/24 8:04:16 PM
#36:


DarthAragorn posted...
That's more than like 2/3 of the country so

Basically you can fuck off with the weird bragging topic
Isnt that around the average? Its not even enough to live off of alone in a lot of places in the country

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GateOfDoom
05/08/24 10:11:40 PM
#37:


ssb_yunglink2 posted...
Isnt that around the average? Its not even enough to live off of alone in a lot of places in the country
It's defintely not average
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Heineken14
05/08/24 10:12:04 PM
#38:


I mean, it depends on your expenses.

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DarthAragorn
05/08/24 10:18:03 PM
#39:


ssb_yunglink2 posted...
Isnt that around the average? Its not even enough to live off of alone in a lot of places in the country

GateOfDoom posted...
Wasn't bragging and no.way is that more than 2/3 of the country
You're right, it's not more than 2/3 of the country, it's more than almost 80% of the country (per 2022 income numbers)

https://dqydj.com/income-percentile-calculator/

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Toonstrack
05/08/24 10:34:32 PM
#40:


Id be living pretty in my meager means with that kinda amount.

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Glob
05/08/24 10:37:42 PM
#41:


DarthAragorn posted...
That's more than like 2/3 of the country so

Basically you can fuck off with the weird bragging topic

There are places where its a high income and places where its low. Not everybody lives in the middle of nowhere, to be fair.
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OriginalPlain2
05/08/24 10:47:50 PM
#42:


Way better than my $497 a month from disability

also get $1900 from snap a month but the price for groceries here are unbelievable/unbearable

actually get $650 from disability but I had to get on Medicare b which I dont even need. About to request cancellation of this insurance cause I need the)

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WingsOfGood
05/08/24 10:48:13 PM
#43:


Think of it in terms of how much you can save.

If apartment or house rent is 2000-2500 a month

You can possibly save 1000-1500 a month pretty easy if not more
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Luigi_and_Tails
05/08/24 11:22:01 PM
#44:


Yep, it's good money, but dependant on where you live and your circumstances.

If you're living in bumfuck nowhere then that'll go a long way towards a comfortable life - but if you're living with a hefty mortgage somewhere spenny then you're probably barely scraping average.

Post-tax I earn 5300 ($6600) per month but I also live in one of the most expensive parts of the country (average house prices are over 565k / $700k) so if I had a mortgage, I'd say my net salary was acceptable.

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Arcanine2009
05/10/24 9:00:05 PM
#45:


C_Pain posted...
That's a yearly salary of 63k, which is at the lower end of middle class in the US so it's alright. Depends a lot of location.

Dude is likely making well over 100k pre taxes (assuming he is living in the states) After deducting federal and government taxes, and whatever company deductions he does (health insurance, 401k)

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