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Old 05-23-2010, 04:06 PM   #551
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Re: Does earning $65k per year mean you're poor?

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Not being from NYC I have no idea what the rental market is like. What I said is that $1600/month is not a lot for a decent apartment. It would be an effort to find one in my city for that price. That isn't using my standards as that would make it considerably more but just using what I would expect as a young professional couple they would want and expect.
It's not a lot (for NYC). The thing is, if the OP wants to stay at that apartment and have more money, then he has to cut back on other things.
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Old 05-23-2010, 04:07 PM   #552
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Re: Does earning $65k per year mean you're poor?

lol 11 pages in and you think no one thought of that jim?
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Old 05-23-2010, 04:12 PM   #553
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Re: Does earning $65k per year mean you're poor?

Incidentally, OP has STILL not addressed how him and his gf go through an entire liter of olive oil a month, or why he has a car, or if he's still stank from his $35-per-month cologne habit.
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Old 05-23-2010, 04:13 PM   #554
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Re: Does earning $65k per year mean you're poor?

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Incidentally, OP has STILL not addressed how him and his gf go through an entire liter of olive oil a month, or why he has a car, or if he's still stank from his $35-per-month cologne habit.

He addressed the olive oil. He buys small expensive bottles for $20 a piece.
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Old 05-23-2010, 04:16 PM   #555
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Re: Does earning $65k per year mean you're poor?

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It's not a lot (for NYC). The thing is, if the OP wants to stay at that apartment and have more money, then he has to cut back on other things.
I think you are missing the point. The way I understand it OP isn't look for us to balance his budget for him -- he feels gypped by what type of lifestyle $65k gets you.
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Old 05-23-2010, 04:16 PM   #556
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Re: Does earning $65k per year mean you're poor?

All right, I guess that comes out to like half an ounce per day per person...not too bad.

Odds that the OP could tell the difference between his $20 a bottle olive oil and something that goes for half the price?
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Old 05-23-2010, 04:19 PM   #557
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Re: Does earning $65k per year mean you're poor?

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I think you are missing the point. The way I understand it OP isn't look for us to balance his budget for him -- he feels gypped by what type of lifestyle $65k gets you.
Well...too bad. I fail to see how dousing himself in cologne and buying absurdly expensive olive oil is getting him more +EV than getting out of debt more quickly.

He is entitled to live the life he feels is appropriate, but I don't know why he came here to say he was gypped; it's not as if we've been a sympathetic audience.
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Old 05-23-2010, 04:26 PM   #558
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Re: Does earning $65k per year mean you're poor?

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He is entitled to live the life he feels is appropriate, but I don't know why he came here to say he was gypped; it's not as if we've been a sympathetic audience.
Two possibilities -- he wanted to get a reaction and he knew that in OOT it was a slam dunk that he would or he isn't that bright and didn't realize this would be the outcome. I think the former since I think most people realize this isn't the type of conversation that you can have with most people without them freaking out. I have had thoughts like that before but there are maybe a handful of people I know who I could actually say that to without getting attacked.
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Old 05-23-2010, 04:34 PM   #559
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Re: Does earning $65k per year mean you're poor?

no, unless they are you. like everybody else has said, cut back on your spending, $1600 a month is way to much, compared to earnings per month
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Old 05-23-2010, 04:50 PM   #560
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Re: Does earning $65k per year mean you're poor?

It is 29.5% of his gross income. If I'm not mistaken 30% is the accepted number for housing.
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Old 05-23-2010, 04:58 PM   #561
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Re: Does earning $65k per year mean you're poor?

Yea, I don't think Rent is a problem at all. Its certainly the groceries and other things. Why in the world have a car in NYC?
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Old 05-23-2010, 05:22 PM   #562
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Re: Does earning $65k per year mean you're poor?

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It is 29.5% of his gross income. If I'm not mistaken 30% is the accepted number for housing.
This is asinine high.
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Old 05-23-2010, 05:33 PM   #563
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Re: Does earning $65k per year mean you're poor?

Are you sure?

I just googled it most links said 30% -- it was even one of the suggested searches at the bottom.
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Old 05-23-2010, 05:36 PM   #564
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Re: Does earning $65k per year mean you're poor?

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Why in the world have a car in NYC?
Because NYC =/ Manahattan.

Almost everyone that lives in the Bronx, Brooklyn, Queens, or SI has a car. It would be a major inconvenience not to.
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Old 05-23-2010, 05:45 PM   #565
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Re: Does earning $65k per year mean you're poor?

grunch- vitamins are a dumb tax, like lottery tickets.
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Old 05-23-2010, 05:47 PM   #566
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Re: Does earning $65k per year mean you're poor?

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It is 29.5% of his gross income. If I'm not mistaken 30% is the accepted number for housing.
30% is after subracting taxes. And in OPs case, debt payments should be subtracted as well. The real number is 50%, and it's way too high.
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Old 05-23-2010, 05:50 PM   #567
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Re: Does earning $65k per year mean you're poor?

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Because NYC =/ Manahattan.

Almost everyone that lives in the Bronx, Brooklyn, Queens, or SI has a car. It would be a major inconvenience not to.
looool

Last edited by Triumph36; 05-23-2010 at 05:51 PM. Reason: i mean, c'mon. you could say 'almost all young professionals' or something
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Old 05-23-2010, 05:51 PM   #568
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Re: Does earning $65k per year mean you're poor?

No it is gross income

In the United States and Canada, a commonly accepted guideline for housing affordability is a housing cost that does not exceed 30% of a household's gross income.

http://en.wikipedia.org/wiki/Affordable_housing
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Old 05-23-2010, 05:54 PM   #569
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Re: Does earning $65k per year mean you're poor?

30% of gross income is extremely huge amount. Whether given as a cursory guideline or not, it is way way way too aggressive for most people.

Some people mistake this to mean "mortgage" which is next level terrible.
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Old 05-23-2010, 06:05 PM   #570
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Re: Does earning $65k per year mean you're poor?

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looool
I don't get it, do you disagree?

I was going to add the qualifier "not on public assistance" but then I remembered that people on welfare seem to ALL have cars, whether in Manhattan or not, and most of them are nicer than mine. Go take a look at a parking lot in the projects someday if you live in the city and you'll see what I mean.

The phrase "young professionals" can be kept entirely out of the discussion. The vast majority of people above the age of 18 and below the age of 80 who live in outter boroughs own a car. The reason for this is because it would be a huge pain in the ass not to.
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Old 05-23-2010, 06:13 PM   #571
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Re: Does earning $65k per year mean you're poor?

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looool
I mentioned this elsewhere as well as Brocktoon.

Brooklyn, certain areas I could see not having a car.
Queens, same thing.
Bronx, you'd almost have to, although the Bronx is an utter ****hole anyway that no one would want to live in.
SI, forget it, you have to have a car.
Ditto for Long Island.
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Old 05-23-2010, 06:16 PM   #572
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Re: Does earning $65k per year mean you're poor?

grunching this 7 page thread but does it have tips on how to live on a 65k income?
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Old 05-23-2010, 06:16 PM   #573
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Re: Does earning $65k per year mean you're poor?

OP got someone to lend him a bunch of money at a high interest rate and then to forgive thousands or maybe tens of thousands of dollars and eliminate the interest.

OP, did this agreement mess up your credit or are you off scot free?
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Old 05-23-2010, 06:21 PM   #574
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Re: Does earning $65k per year mean you're poor?

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I don't get it, do you disagree?

I was going to add the qualifier "not on public assistance" but then I remembered that people on welfare seem to ALL have cars, whether in Manhattan or not, and most of them are nicer than mine. Go take a look at a parking lot in the projects someday if you live in the city and you'll see what I mean.

The phrase "young professionals" can be kept entirely out of the discussion. The vast majority of people above the age of 18 and below the age of 80 who live in outter boroughs own a car. The reason for this is because it would be a huge pain in the ass not to.
You're kinda right if you're talking about Queens, I guess? Over half the households in all of NYC don't own cars. It's like 75% in Manhattan, 60% in the Bronx, 55% Brooklyn, 35% Queens, and Staten Island isn't actually part of the city.

ETA: You're clearly from NYC, so I don't get how you're reasoning "it would be a huge pain in the ass not to" own a car if you live in the outer boroughs. Obviously Brooklyn is a ginormous place, so blanket statements don't apply, but there's not exactly a dearth of subway stops west of Prospect Park. I live in Philadelphia, where mass transit is basically as efficient as a horse and buggy and it's not as dense to begin with, and I do fine without a car.

Last edited by istewart; 05-23-2010 at 06:32 PM.
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Old 05-23-2010, 06:33 PM   #575
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Re: Does earning $65k per year mean you're poor?

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Originally Posted by Brocktoon View Post
I don't get it, do you disagree?

I was going to add the qualifier "not on public assistance" but then I remembered that people on welfare seem to ALL have cars, whether in Manhattan or not, and most of them are nicer than mine. Go take a look at a parking lot in the projects someday if you live in the city and you'll see what I mean.

The phrase "young professionals" can be kept entirely out of the discussion. The vast majority of people above the age of 18 and below the age of 80 who live in outter boroughs own a car. The reason for this is because it would be a huge pain in the ass not to.
i'm gonna guess that triumph lives in a non-manhattan borough and doesn't have a car.
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