Does it seem like you make good money, yet don't really make money?

[aaengel]

Does it seem like you make good money, yet don't really make money?

I was filling out the forms for my lawyer the other day and going over my gross wages for the last 6 months, and it seemed I averaged around $1,000 to $1,800 a month or so.... you would think that's at least somewhat good money for a single person.... But in the end, it never really seemed I ever made that much money.... has anyone else ever felt this way?

I mean, I'm 25, live at home with my parents, yet I could never save a dime... my fuel and car costs are astronomical on a wage like this... then food costs. Not to mention the interest on my credit cards, of which, when you made a payment it never really seemed to ever wipe anything out.

Anyway, the lawyers office is getting things prepared, thus I should be filed by March 5th though I'll probably end up filing by next week. ho hum.

[justbroke]

The cost of living is always the same; all you've got.

[SMinGA2]

We've all had moments of regret, when we look back and think we should have more to show for the amount of time/money/______ (fill in the blank) we have put into something. Live & learn, and learn some more. That's all you can do, really.

You have an advantage that you live at home, so that helps you keep some expenses low. But $1000-1800 GROSS is not a lot of money. Hopefully your earning potential will rise in time - and as it does, you can carefully assess when & how to allow your expenses to rise.

[aaengel]

We've all had moments of regret, when we look back and think we should have more to show for the amount of time/money/______ (fill in the blank) we have put into something. Live & learn, and learn some more. That's all you can do, really.

You have an advantage that you live at home, so that helps you keep some expenses low. But $1000-1800 GROSS is not a lot of money. Hopefully your earning potential will rise in time - and as it does, you can carefully assess when & how to allow your expenses to rise.

My Father seems to be kinda getting antsy about getting me out... though at the same time he doesn't seem to mind me being here.... I'm turning 26 in October. One thing that would make things easier is if I had a working wife (I don't believe in living together before marriage... ) thus we could easily afford an apartment and/or land contract.... anyway. (Not to mention I don't have many friends thus no one to live with and wouldn't want to live with the people I work with).

[keepsmiling]

A serious chunk of that probably goes to pay taxes. A huge chunk goes to transportation expense.

It is what it is. Unless you watch every single penny, it's hard to save anything on that salary. I know we've talked about it to death, but when you start packing your lunch, perhaps you can put the daily savings into a piggy bank and realize a few bucks in there by the time you graduate.

You can't go anywhere til you make more money. You are lucky to be able to live at home. More and more people your age (and older) are back with the folks. It's a statement of the times we live in. Perhaps you can do more around the house to earn your keep and make Dad happy.

Congrats on moving forward. Sounds like you are getting your head wrapped around the whole thing.

[IHateToBeEmo]

Does it seem like you make good money, yet don't really make money?

I was reading an article recently that stated a family making $60k/year can actually be WORSE OFF than a one-parent family of three making $14,500 a year, due to earned income tax credits, food stamps, medicaid, section 8, etc. Makes it hard to get motivated!

[keepsmiling]

I was reading an article recently that stated a family making $60k/year can actually be WORSE OFF than a one-parent family of three making $14,500 a year, due to earned income tax credits, food stamps, medicaid, section 8, etc. Makes it hard to get motivated!

Oh yes, I learned this the hard way. Was on the NJ state plan for health insurance. Took a part time job, made 4K- exactly too much to qualify for the plan, got kicked off, cost me well over 10K/year, never recovered; hence, here I am.

[aaengel]

Even if I do stay at home I have to start paying for my own health insurance on October 30th... anybody have good suggestions for good medical insurance? My company, Menards, goes through someone (forgot the name), but I've heard they're not too good. I've gotta find something that's good, but cheaper... but someone that'll be there...

[andy158]

A large part of your paycheck goes to consumables. Items that you can not materially keep. Examples are food, gas, utilities, insurance, etc. These are the costs of living. When you fill out your paperwork for bk it all comes to light. Where has all the money gone? Your assets are really owned by a lending institute until you pay them off. We were shocked to see that we had very little "disposable" income after calculating everything owed. Not many things get cheaper and the wages are way out of sync to the higher costs of the consumables.

Yeah we make "good" money, but after taxes we only net about 65% of the gross. We don't have investements and capital gains that are only taxed at 15%. Go figure the weight of this country is on the backs of the working middle class that is on the endangered list.

The lower income and those condisered poor pay little to no taxes and manage with their entitements. Granted their quality of life is not as good, but I am sure a little less stressed.

[keepsmiling]

Even if I do stay at home I have to start paying for my own health insurance on October 30th... anybody have good suggestions for good medical insurance? My company, Menards, goes through someone (forgot the name), but I've heard they're not too good. I've gotta find something that's good, but cheaper... but someone that'll be there...

Your SCHOOL is probably your best bet!
I went back to school purely for this purpose.

[karm43]

AGREED no offense they took 17000,00 out of my fed last year. I get hardly anything back. Yet someone making 20,000 with children get 8 or 9 thousand back and they only pay in about 1500.plus help with heat housing food stamps maybe it doesn't pay to go to college. On the other hand kids grow up. When you make more you get no breaks. Also when your young and single you get no breaks.

[shark66]

A large part of your paycheck goes to consumables. Items that you can not materially keep. Examples are food, gas, utilities, insurance, etc. These are the costs of living. When you fill out your paperwork for bk it all comes to light. Where has all the money gone? Your assets are really owned by a lending institute until you pay them off. We were shocked to see that we had very little "disposable" income after calculating everything owed. Not many things get cheaper and the wages are way out of sync to the higher costs of the consumables.

Words of true wisdom here. Seriously.

Yeah we make "good" money, but after taxes we only net about 65% of the gross. We don't have investements and capital gains that are only taxed at 15%. Go figure the weight of this country is on the backs of the working middle class that is on the endangered list.

More words of wisdom. And that target on my back has gotten so bloody boring over the past 6-7 years...

The lower income and those condisered poor pay little to no taxes and manage with their entitements. Granted their quality of life is not as good, but I am sure a little less stressed.

A *lot* less stressed. Knowing you can get away with what a working Joe or Jane never could is priceless...

Good luck to us all.

[aaengel]

Your SCHOOL is probably your best bet!
I went back to school purely for this purpose.

Community college, no insurance....

[bcohen]

Yup, it not only seems I'm poor--I am poor. Costs are going up, but my income sure as hell isn't!

[keepsmiling]

Community college, no insurance....

Are you sure? Are you part time or full?
full timers are usually required to have it. so they offer it.
Our local community college has it for half and full time.