Man... how do people afford nice things for themselves?

LivinLaVivaPollo

Senior member
Dec 29, 2000
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I recently graduated college and was hired as an asic engineer at a company in the North Bay. I make 60K, which I'm assuming is decent money for a recent graduate. But I'm finding it hard to be able to "afford" anything. I wanted to buy myself a nice car, Mazda MS6 or MS3, but don't know where I can squeeze 400 or so dollars a month to be able to afford the car and have money safely left over.

After medical and 401k, I roughly have 3300 dollars a month after taxes. Rent for a one bedroom in the North Bay, in a nice neighborhood, is $1250 for me. So that leaves me ~2K for living expenses.

Because I relocated away from my fiance, and she's having to cover rent on the place we had previously shared, I'm helping her with her rent, credit cards, and I'm paying for all her utilities (water, sewer, garbage, internet, cable TV). That's about 700 bucks a month.

I'm left with about $1300 bucks after all is said and done to pay for my own utilities, food, and gas. Figure that is 300 to 400 dollars, which puts me under the safety threshold of a thousand a month saved. That's if I don't buy anything else. Real life isn't so glamorous. If I get laid off or something, I probably can't even cover next month's rent.

Wow.
 

Queasy

Moderator<br>Console Gaming
Aug 24, 2001
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Some people don't care and spend money they don't have (ie credit cards).
 

DaveSimmons

Elite Member
Aug 12, 2001
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If I get laid off or something, I probably can't even cover next month's rent.
Then the first thing you should be doing with that $1,000/month above expenses is putting several thousand into an INGDirect.com savings account and leaving it there.

Cut back on the toys and eating out if you have to, but get that safety money in place.
 

homercles337

Diamond Member
Dec 29, 2004
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What are you talking about with "North Bay?" Marin county? This is not a usual bay area term.

Edit, i was in the bay area for 5 years and grew up in tahoe. If youre in Marin, you say "Marin." If youre in Richmond you say Richmond (unlike THE richmond in SF). If youre in Vallejo you say vallejo. If youre in the east bay you say east bay. If youre on the peninsula you say "on the peninsula." IF youre in the city you say "in the city." Where is "north bay?"
 

kranky

Elite Member
Oct 9, 1999
21,017
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Well, to be fair, most people aren't paying $700 a month towards someone else's expenses. I'm not saying that's wrong, but clearly it factors into your situation.

I salute you for taking care of priorities first - 401k and savings. Most people figure they'll save whatever they have left, which ends up being nothing. They are the ones who have the $400-$500 car payment, eat out four days a week, run up credit card bills, and then fret over their lack of savings.

For most people, there is a day when they need some savings to cover a crisis. If that happens to you, you'll be prepared. You're disciplined enough to save close to a thousand a month.

Look at it this way - chances are your income will only go up while your expenses won't rise at the same pace. This might be the toughest budgeting time you ever have.
 

Dr. Detroit

Diamond Member
Sep 25, 2004
8,257
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Originally posted by: homercles337
What are you talking about with "North Bay?" Marin county? This is not a usual bay area term.

North Bay
East Bay
South Bay
Pennisula
Central Valley

All terms I hear on a daily basis.

North Bay is across the Richmond or Golden Gate bridge.


 

KillerCharlie

Diamond Member
Aug 21, 2005
3,691
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That's the national average starting engineering pay (actually it's a bit more).

Welcome to the real world.
 

Jeff7

Lifer
Jan 4, 2001
41,596
19
81
Wow, nice. $1300 a month left over? Damn, when I worked full time, I was lucky to get that that much just in take-home pay.
But damn, that's insane rent. I guess rent there is like that. For what size place? A 1 bedroom apartment here in Erie can go for as low as $290/month. I'll be moving into one next year, utilities all paid, I pay electric, cable, and phone, for $400/month.
 

Jfrag Teh Foul

Diamond Member
Jul 18, 2001
3,146
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Originally posted by: LivinLaVivaPollo
I recently graduated college and was hired as an asic engineer at a company in the North Bay. I make 60K, which I'm assuming is decent money for a recent graduate. But I'm finding it hard to be able to "afford" anything. I wanted to buy myself a nice car, Mazda MS6 or MS3, but don't know where I can squeeze 400 or so dollars a month to be able to afford the car and have money safely left over.

After medical and 401k, I roughly have 3300 dollars a month after taxes. Rent for a one bedroom in the North Bay, in a nice neighborhood, is $1250 for me. So that leaves me ~2K for living expenses.

Because I relocated away from my fiance, and she's having to cover rent on the place we had previously shared, I'm helping her with her rent, credit cards, and I'm paying for all her utilities (water, sewer, garbage, internet, cable TV). That's about 700 bucks a month.

I'm left with about $1300 bucks after all is said and done to pay for my own utilities, food, and gas. Figure that is 300 to 400 dollars, which puts me under the safety threshold of a thousand a month saved. That's if I don't buy anything else. Real life isn't so glamorous. If I get laid off or something, I probably can't even cover next month's rent.

Wow.

Save your jack and buy what you want for cash. If there is one thing I learned along the way, it is to just save when I can, and only buy when I can afford it. May take longer, but it pays in the end.
 

chuckywang

Lifer
Jan 12, 2004
20,133
1
0
Originally posted by: Jeff7
Wow, nice. $1300 a month left over? Damn, when I worked full time, I was lucky to get that that much just in take-home pay.
But damn, that's insane rent. I guess rent there is like that. For what size place? A 1 bedroom apartment here in Erie can go for as low as $290/month. I'll be moving into one next year, utilities all paid, I pay electric, cable, and phone, for $400/month.

Yep, that's living in California for you.
 

homercles337

Diamond Member
Dec 29, 2004
6,340
3
71
Originally posted by: Fmr12B
Originally posted by: homercles337
What are you talking about with "North Bay?" Marin county? This is not a usual bay area term.

North Bay
East Bay
South Bay
Pennisula
Central Valley

All terms I hear on a daily basis.

North Bay is across the Richmond or Golden Gate bridge.

Yea, i hear ya now. I had a memory lapse there for a moment given that it is the least common and least used (or maybe i didnt know any rich folks). Its been 4 years since i was there, but to include Napa and Marin as "north bay" just seems silly.
 

LivinLaVivaPollo

Senior member
Dec 29, 2000
954
0
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Originally posted by: Jeff7
Wow, nice. $1300 a month left over? Damn, when I worked full time, I was lucky to get that that much just in take-home pay.
But damn, that's insane rent. I guess rent there is like that. For what size place? A 1 bedroom apartment here in Erie can go for as low as $290/month. I'll be moving into one next year, utilities all paid, I pay electric, cable, and phone, for $400/month.

I'll actually have about 900 bucks left over after I pay my living expenses. Again, that's if I don't buy anything else.

1250 gets you a decent one bedroom loft around these parts, about 950 sq. feet. That's with one and a half bathrooms though.
 

shuttleboi

Senior member
Jul 5, 2004
669
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Go to a good grad school in your field. You will get paid to be a TA or RA. If you graduate with an M.S. degree, you will be making about $20K to $30K a year more.
 

CPA

Elite Member
Nov 19, 2001
30,322
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60k recent grad? decent? That's much better than decent. Problem is you're living in Cali. Everything is more expensive there.
 

KillerCharlie

Diamond Member
Aug 21, 2005
3,691
68
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Lots of engineering companies now won't pay you more just because you have a masters, which is a good thing. If your masters really makes you a better employee, then it'll show in your work and you'll get promoted accordingly.
 

LivinLaVivaPollo

Senior member
Dec 29, 2000
954
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Originally posted by: shuttleboi
Go to a good grad school in your field. You will get paid to be a TA or RA. If you graduate with an M.S. degree, you will be making about $20K to $30K a year more.


Yeah, I have a masters as a long term goal, but because I'm salaried, I usually work into the late night, which makes it difficult for classes. Another problem is that the closest major educational institution to me is Berkeley, which I have no chance in hell of getting into.