Quote:
Originally Posted by redpoint5
Hourly to annual income is roughly every $1 per hour equates to $2,000 annual income. That means a $20/hr employee makes $40,000 / year.
The $18 / hr Taco Bell new hires are making $36,000 if they happened to score full time employment, plus the few grand bonus if they last 6 months.
If I happened to make $18 / hr, I would not expect to have an entire domicile to myself. Even if I made more, I would not exclude the possibility of subletting a domicile with others. Certainly I would dwell not on the constraints as much as the possibilities.
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Yes, a $20/hr employee makes $40,000/year before taxes. I was estimating what they'd make after taxes.
Many people share their domicile with their spouse and children.
The median income for one person in the USA is around $45,000, and for an entire household around $70,000. That means half the population makes that or less. If you factor in taxes, half of individuals take home about $3,500 or less per month. 10% of that is $350 or less. And a household gets about $5,000 or less per month after taxes, so 10% would be $500 or less.
For me, I put a monthly budget on how much I spend on transportation and try not to pass that budget. If I were to throw a new car or one that's 5 years-old right now, I'd blow that budget quite quickly, unless it were perhaps a small economy car. So I'm thinking I probably should keep my eyes on small economy cars or hope the economy will change for the better soon.
But even then, the question is, can a person really save money by avoiding old cars and sticking with a monthly payment?