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Trying to figure out an average salary

So my husband is currently military and his enlistment will be up soon. We are looking at a job, and we are having a hard time deciding if what he makes will be enough or not. I'm about 2 years away from my degree, so I will be going back to work at that point. We are just concerned about now until then.

Average rent where we will be living is about $1500, so that is a major expense. It is a high cost of living area.

My question is pretty vague I'm just trying to get an idea of what people normally make and how you break up your money.

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Anonymous

Asked by Anonymous at 1:09 AM on Oct. 11, 2010 in Money & Work

Answers (9)
  • I live in ohio in a small town where the average rent is $600.00 a month. You also have to figure in Water mine: 30.00 mo Power 200.00 mo Sewage i have septic Garbage 20.00 mo . Renter's Insurance if something would happen 70.00 a mo i own. If you have electric, propane, gas or a wood furnace. $2.78 is average for oil for oil furnace and a 2000 square foot house takes about $3000.00 a winter, electric and propane are much higher. My husband is a coal miner and we make about $60,000.00 a year. After taxes about 45,000.00 3750 a month Car payments, credit cards, rent, and the other stuff i have listed come out of that, plus i have 2 kids. so we have about 500 left at the end of the month unless something goes wrong with a car, washing machine or appliance, and that's in a low cost of living area. I think honestly you would probaly have to have a 6 figure income to afford 1500.00 a month rent.
    Bluesdawg02

    Answer by Bluesdawg02 at 1:19 AM on Oct. 11, 2010

  • My sister lives in dc and her husband just got out of the military and they are in high area as well and there mtg is 1200.00 a month plus cars etc... my sister works at the post office and my bro in law works at a higher security job that is outside the military and there deffinately in the 6 figures to keep up on everything. Good luck i hope this helped!
    Bluesdawg02

    Answer by Bluesdawg02 at 1:21 AM on Oct. 11, 2010

  • When we lived in Maryland where the cost of living is high, my hubby pulled in $3,000 a month in his salary. Our mortgage was $1500 a month.

    Since we moved to Idaho, where the cost is mediocre, he makes $2,000 a month. Our rent is $850.
    abra

    Answer by abra at 1:59 AM on Oct. 11, 2010

  • I'm not sure where you get your info Bluesdawg02, but, living in Ohio, I pay $150/month fixed on our Propane...adds up to $1,800/year......Definitely not "much higher" than $3K, in fact, it's much lower. That's for a 3 story 2300 sq ft home that we heat to 71 in the winter.

    OP: My best advice for you is to do your research. So much just depends on where you live and what the cost of living is like. Google can be your best friend in situations like this.
    AllAboutKeeley

    Answer by AllAboutKeeley at 2:02 AM on Oct. 11, 2010

  • I'm not sure what you are asking.
    I will try to answer. My husband takes home about 5300/month. He also takes home about a 20,000.00 bonus once a year, which we live on. We don't have any credit card debt or car payments. Our mortgage is 1800.00/month but I usually add 300-400 more to that. Other than that we have the normal electic and cable bills etc. I really wish we would've waited to buy a home so our mortgage wasn't so high, but it's doable.
    Just write down all your bills and figure out what works for you. GL.
    Anonymous

    Answer by Anonymous at 2:15 AM on Oct. 11, 2010

  • Rent/mortgage should ideally be less than 30% of your income. If you can live by that standard, it will make the rest of the budget easier.
    tyheamma

    Answer by tyheamma at 2:18 AM on Oct. 11, 2010

  • If you're trying to get an idea of the average salary for a certain job in a certain place, go to www.salary.com.

    andrea96

    Answer by andrea96 at 8:58 AM on Oct. 11, 2010

  • I think a better question is what is the ratio of what your expenses will be compared to what you will earn. For example, you may make $100,000 in salary but if your expenses are 75% of that ($75,000), you may not be better off than someone who makes $50,000 but whose expenses are only 20% of their income ($10,000). Maybe work it backwards, research cost of living in that area and determine how much you would need in salary to make it work. Allow yourself a cushion and some breathing room so you can still save and pay for any unexpected expenses that come up.
    Anonymous

    Answer by Anonymous at 11:47 AM on Oct. 11, 2010

  • Do a cost of living comparison between cities. 

    musicmom08

    Answer by musicmom08 at 8:45 PM on Oct. 11, 2010

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