Post: #1

Hello fellow RVFers

Scrolling through the internet I am always reading through websites that display the cost of living. Saying I would need to be making $40,000 a year to be living here or $60,000 to be living their when they don't take into to account the lifestyle we value here. One that values the logistics of getting laid and the carelessness of keeping up with the Jones. So I thought I would create a thread that lets a member show the metro areas where they reside and what their budget is so we can get the idea of what it REALLY costs to live in a city. For example, the average dope living in Downtown Dallas is probably making $75,000-$80,000 a year living paycheck to paycheck paying for his condo, buying a bunch of unnecessary shit, orbiting females and is on the hamster wheel. Where while me on the other hand would have that same apartment while only spending $40,000 a year, keeping my expenses down (with the budget shown below) while pulling poon. I live in a smaller metro area in the bible belt, and I fear the SJWs. So I am curious, what is the true cost of living in your city where you reside?


Expense Frequency Amount for Budget Period

Mortgage / Rent Monthly $575
Tolietries Monthly $35
Student Loan Monthly
Budget Period Total $605


Utilities 230
Frequency Amount for Budget Period

Electricity Monthly $82
Telephone Monthly $70
Water and Sewer Monthly $30
Budget Period Total $182.00


Insurance Premiums
Expense Frequency Amount for Budget Period
Microsoft Office 6.99
Spotify 9.99
Auto Monthly $70
Gym Monthly $33
Budget Period Total $102.65



Expense Frequency Amount for Budget Period

Emergency Fund Monthly $180

Budget Period Total $180
Parking Spot


Expense Frequency Amount for Budget Period

Groceries Monthly $150
Haircut $15
miscellanous Monthly
Gas (automobile) Monthly $100
Laundry Monthly $35
internet Monthly $55
Total Expenses $355
Budget Period Total $1,655


Total Income $1,800
Total Expenses $1,655
Income Minus Expenses $145 (profit left for dates, going out, getting and reading books, etc.)

Post: #2

I'd like to see this simplified. I do not understand what is Expense Frequency Amount for Budget Period. Let's talk simple here.

An additional part that gets expensive is maintaining a car. Also emergency car issues should be $3000 per year as a safety net.

Also a huge factor is family support. If you are without family support then you had better have a big nest egg tucked away just in case.

A lot of people (who usually will not admit it) are given a leg up on the housing ladder by family and parents. Without that leg up it takes more.

It is rather wild to think it costs $40K to live while most jobs today are for $10 per hour with HR breathing down your neck...

Post: #3

This should be renamed the budget breakdown thread. Members should include their city and level of lifestyle like you outlined in the OP.

Post: #4

Or for more practical purposes it could just be average rent in your city versus average income.

Post: #5

(07-31-2016 11:58 AM)Kinko Wrote:  Or for more practical purposes it could just be average rent in your city versus average income.

https://www.rentometer.com
I find Rentometer to be pretty accurate for USA rental prices.

Post: #6

We already have a few threads like this

Post: #7

Strong potential for this thread except you didn't include your exact location, so this doesn't really make sense. The Bible Belt is pretty big. I used to live in OKC and it was stupid cheap (literally third-world cheap for some expenses) but I would never recommend the lifestyle.

I think that almost anyone can kinda beat the system by renting a nice apartment for under $2k, earning a decent income, and relying on books, business and game for entertainment. But it's definitely a cool idea to dive into the specifics.

I also agree with you on Dallas, except it's Uptown where most corporate slaves live and not as much Downtown. It's easy to look like you have it made there, but people are truly anchored in debt.

Post: #8

As someone who has lived in various differing COL regions of the US....

For mandatory/essential stuff in the US:

The only major variable cost across the US is real estate and state/local income taxes. Everything else is fairly inconsequential in difference (groceries, gas, insurance, etc) for the most part.

For studio/1bd rooms:

Even in flyover country, if you want to live in a desirable areas these days its $1200-1600/month typically. You can cut that down to $600-1000/month if you are willing to live outside the prime logistics areas but still remain within the region (up to 30 miles).

Most tier 1 cities?

$1500-2000+/month pretty much the across the board for the prime areas with only a small discount once outside the prime area but still within the metro region.

State/local taxes range from 0-10% or thereabouts.

So, the max differential in cost between a low rent/low taxed place (lots of flyover country) and a high rent/high taxed place is around $15,000-20,000 at the most for most people with only a few exceptions here and there (i.e. you make big money in CA for example; CA state taxes will murder you compared to TX).

For most folks, a job that is willing to pay you at least 10k-15k more to live in the high rent/high tax area will result in your cost of living being within the ballpark of cheaper areas of the country if you are aiming for similar logistics.

The bottom line is that if you want to live in 2nd/3rd tier cities/low rent-low taxed places (mostly flyover country), you need about 1500-2500/month to survive. Or $18,000-30,000/year. These are POST-TAX numbers by the way.

If you want to live in 1st tier cities, you need about 2200-3000/month to survive. $26,400-36,000/year. Again, POST-tax requirements.

Furthermore, this is to survive and break even only. Money for prime/semi-prime/OK logistics, groceries, transport, and misc mandatory expenses. This means no eating out, barely or no savings building, minimal/no luxury items, and no debt obligations like student loans.

Again, it's really all about the real estate and state/local taxes.

Post: #9

^^Great post. I think something else that isn't talked about enough is the opportunity to rent really good logistics and go without a car. This is kind of a tough move in most American cities, but not having to deal with car insurance, maintenance, and big repairs can definitely make it easier to afford prime "walkable" real estate. Walkscore.com is useful for this.

If you can live in walking distance to nightlife, grocery, etc. then you're basically covered by Uber for the rest.

Post: #10

About living in walkable cities: one thing rent o meters do not tabulate is renting rooms, instead of a whole apartment/studio.

In SF or NYC renting your own apartment is a totally different ball game. Most people with ordinary incomes have to rent a room.

An apartment in NYNY is $2000 on the low end
A room in NYNY is $850 on the low end

Owning and maintaining a car is big bucks
A monthly metro pass is what $90?
Big difference

This is why I say it is possible to live in a cruddy room in Manhattan while dealing with extra stress due to living in a cruddy room
For Less
Then in some suburb you find undesirable paying $1200 for a room plus all the car expenses

For me I would rather be in NY then living with uninspiring provincial suburbanites or even lower tier cities. Id rather not deal with small townie people.

The price is about the same living in Manhattan. Plus the opportunities are way better. I believe.

Post: #11

^ So how much does it cost you to live in Manhattan with that one room? I can settle a for a little room if that means I can get the logistics New York city offers.

Post: #12

I'm also interested in hearing more about the single room set-up in Manhattan.

Post: #13

I do the Manhattan calculation often

http://newyork.craigslist.org/mnh/fee/5668095017.html

That's a studio near the action, and primetime enough for most chicks.

So my calculation is that rent should be a maximum of 25% of your *take home* pay. That's enough cushion to go out, save, invest, service debt, and pursue hobbies.

So 4 times net income is about 8 k a month, 96k a year. Living in the city is city tax, state tax, federal tax, Medicare and social variety l security. About 40-45%

So the pre-tax salary is around 175,000 to live in that hood, by yourself, and not worry. Maybe 130k at the lowest, but six figure jobs are hard enough as it is. NYC is really a place for entrepreneurs.

The closer you move to the action, the more you need. In a place like NYC, moving further out never makes sense unless you work further out.

WIA

Post: #14

I dunno WIA. Renting rooms off Craigslist in NYC is unlike any other city in the world. Thats the thing. I lived there for ten years. I have seen every room rental scam and raw deal imaginable.

The East Village ad looks too good to be true in my opinion. And it probably is. Frankly

A first step in any rentals is checking the bed bug registry website. It is common to rent infested and also heavily moldy rooms others have evacuated.

If you are renting a Room (not a studio or apartment) under a grand per month there is often hidden issues, and higher stress levels. And in recent years the whole island all the way up to Inwood is gentrified heavily. Its expensive no way around it.

Renting apartments is a whole other ballgame. Generally renters have to prove their paychecks are 5 to 10 times the monthly rent. That means you are making 100K+ per year to live in a modest apartment.

Sublets are another interesting option to persue in NYC. I recommend learning sublets.

I have scored wonderful rooms for rent in Manhattan, clean, at a fair price, and with sane-enough room mates. It takes persistance and pure luck but generally when a nice looking room for rent is available in NYC on Craigslist, be suspicious

Post: #15

Living in a top tier city is usually a waste of money and energy unless you have a very high paying job. Most who come to NYC get the fuck out to cheaper pastures once they get the experience over with.

That being said rents aren't as high as advertised .The high rents you see listed are the market rate rents that are artificially high for the transplants from other areas who will pay the high rents. Locals do NOT pay that. Locals find rent stabilized apts and pay below market.

For example, I pay 700 for a 1br in a good Brooklyn area where the same apt goes for 1500 a month. My aunt lived in a building on billionaire row and payed 1400. The market rate was 5k a month.

Post: #16

Another quick reply about the above ad for apartment in East Village. The photos are staged like a dream come true for a transplant who does not know the real score. The ad was posted 27 days ago. If it was a great deal that thing be gone in 27 minutes. No joke. Great deals can go in only minutes.

Post: #17

Most of the rents I saw in that area were between 3-5k.

That just means you need a whole lot more than 175K gross.

If you don't want to live near the action, most of the time you can find something affordable, but that's not what this thread is about.

WIA

Post: #18

For shits and giggles I'll give you my monthly breakdown, in outer suburban Sydney though I'm moving to Bangkok in a few days so, I'll give a comparison

This is in Australian Dollars, which hovers between 0.71-0.75 on the USD.

Mortgage - $1900 a month (about $300 paid to my rental properties)
Utilities - $150
Net/Phone - $180
Groceries - $600
Car Exp - $500
Eating out - $400
Going out - $200 (don't do it much)
Medical - Paid through tax

Total $3930 P/M or $2960 USD.

For those reading who may consider Australia for a working holiday or whatever, it's possible to take a half out of this if you're smart. Sydney's living expenses are overblown and you will be surprised of the cost of fresh food if you cook yourself.

So for comparison's sake, here is my forecast for expenses in Bangkok.

Mortgage (AUS) - $3-500
Rent - $550
Utilities - $120
Net / PH - $80
Groceries - $200
Eating out - $500 (ease and price makes it more practical than cooking)
Taxis - $160 to $320
Public Transport - $100
Medical - $70-90
Going out - $500
Skype - $30

Est. $2.5-$3k per month - Not ridiculously cheaper by any means, but I'll be living a more lavish lifestyle.

Post: #19

As far as NYC goes, you could live in Newark, NJ and pay $1300 a month in rent and be 45 minutes away from Manhattan. Bang girls at their place and enjoy NYC poosy.

Post: #20

(08-01-2016 02:11 AM)The Black Knight Wrote:  As someone who has lived in various differing COL regions of the US....

For mandatory/essential stuff in the US:

The only major variable cost across the US is real estate and state/local income taxes. Everything else is fairly inconsequential in difference (groceries, gas, insurance, etc) for the most part.

Very true and a brilliant post in general. Only exception would be to buy unique materials that have to be transported across the US (like fruits that are only cultivated in 1 region)
Overall, if you stick to eat/live off of what is produced there, it is most cheap
.

Post: #21

London Monthly Expenses:

I don't try to save $0.01, so you can definitely get by on a lot less (minimum living expense = £1,000), but it's London so you can also spend a lot more (2-3x) just to live comfortably.

Rent: £1,500 (decent place, decent area)
Utilities: £200 (TV, internet etc.)
Eating Out: £400 (10x/week, inc. work lunch daily)
Groceries: £150 (not much)
Travel: £100 (Tube or Uber, no car)
Nights Out: £350 (2x/week, not high end)
Other: £200 (phone, gym etc.)

Total: £2,900

Note: £1 ~ $1.3