Median Household Income

[trottigy]

I recently had an interesting discussion with a person about the minimum amount of money it takes to live in Nevada - where I live. My comment to Nameless had to do with the median household income being $48K annual or $4K per month.

 

Now this is the "average" or "median" MANY - perhaps over HALF are getting by on less was the reply.

 

That TOTALLY made sense to me. IT is reasonable to conclude that a person can "easily" (maybe too strong a word) or "comfortably" live on $4k a month.

 

Here is a listing of median incomes in the US - http://en.wikipedia.org/wiki/List_of_U.S._states_by_income (I am certain there is something there for UK)

 

What do you think - is $4k a lot, average or just enough to get by on - and remember this is HOUSEHOLD - not individual?

 

Please note: I am not trying to solicit what any one here makes. In fact, I would prefer if you did NOT disclose this and if you make more say something like - I know I could or couldn't get by on that amount.

 

note: rent for a 2 bedroom apartment in Henderson (decent area) is about $1K

Edited September 22, 2014 by trottigy

[Audj]

Hmmm, where we live rent is a bit less than 1000$ A nice 2 bedroom apartment might go for 750-800$. That being said, my husband and I have, at a time, lived on MUCH less than that. I mean less than half of that... really poor kind of thing...

 

But we are now better placed, thanks to Jehovah, and I would agree that $4000 would be comfortable but just. Like you I wouldn't say easily done, but certainly not impossibly done and even comfortable. I think in our area a bit more would be ideal.

[ava]

I recently had an interesting discussion with a person about the minimum amount of money it takes to live in Nevada - where I live. My comment to Nameless had to do with the median household income being $48K annual or $4K per month.

 

Now this is the "average" or "median" MANY - perhaps over HALF are getting by on less was the reply.

 

That TOTALLY made sense to me. IT is reasonable to conclude that a person can "easily" (maybe too strong a word) or "comfortably" live on $4k a month.

 

Here is a listing of median incomes in the US - http://en.wikipedia.org/wiki/List_of_U.S._states_by_income (I am certain there is something there for UK)

 

What do you think - is $4k a lot, average or just enough to get by on - and remember this is HOUSEHOLD - not individual?

 

Please note: I am not trying to solicit what any one here makes. In fact, I would prefer if you did NOT disclose this and if you make more say something like - I know I could or couldn't get by on that amount.

 

note: rent for a 2 bedroom apartment in Henderson (decent area) is about $1K

 

 

 

 

4000 take home pay?

 

After taxes, and say insurance (if you have employer insurance) that 4000 is quite a bit less.  My medical/dental/vision insurance for my family of 4 costs us almost 500 a month, then we have our 401k Contributions, then taxes.  

 

I think 4000 take home pay a family of 4 (depending on area and other circumstances) could probably live ok on that, I just see it as being difficult.

 

Personally, I think the median charts for states is way too conservative.  There are many factors not taken into consideration imo.  Usually they cover basic necessities like rent, food, water, electricity.  Yet there are so many other expenses now a days that those numbers do not factor in.  I know when we were doing some work on our home loan, they said a family of 4 monthly grocery bill was 600, I laughed at that one.  I spend way more then 600 on groceries, and I am a coupon fanatic.

 

I am in TX, and that chart said less then 50,000.  I personally don't have any idea how a family of 4 could live in my area for less then 50,000.  My family calls me cheap, lol.  Since I do our budget, I am constantly watching what is spent and I am very good at saving and finding deals and I do not shop like other women.  I am very conservative with our money.  In fact if I actually bought something expensive for myself, I think my husband would have a heart attack, lol.  Still, there is no way my family could live on less then 50,000.

 

Rent in my area, decent neighborhood, on a two bedroom is 800-1200, average.  Since I have a boy and girl we would need a 3 bedroom apartment which jacks the cost up 200 more average.  So say I am paying 1300 a month for rent, that leave 2700 left from the 4000.  2700 for car payments, insurance, gas, food, utilities, clothes, I don't see how 4 people could live on that a month.

 

I suppose you could get by on 4000, but I think it would be very difficult imo.  I know what my family of 4 costs each month, and as I said, I am CHEAP, and I still don't know how I could do it.

[shali]

I think a couple could easily live off of 4K a month but it would depend onn how many kids you have as to whether a "household" could live off that. I think your money goes a lot farther in parts of the midwest. My husband and I could live like kings on 4K per month and we might even be able to afford health insurance for both of us, but you mix in a couple kids and health problems - could be a whole different situation.

[trottigy]

Ava, you make add a twist. I don't think this is AFTER taxes, but BEFORE.

Time for more homework.

[Life4u]

Wow, when my children were small and we were a family of 4, 4K would have been very rich for us.  We had to survive on less than 1K, way less.  I couldn't buy anything even food at times and we were on government assistant, child support  and disability.  When the great tribulation breaks out and we don't know how to live on practically nothing, what are we to do?  It is a sad fact, but many of us that are use to a better than ok way of living might not survive if they don't know how to live without some of the most basic needs.

 

I recall a talk given  by a Bro. from Bethel in Africa.  While they were having the wars going on back in then, they lost what little they lived on and had to live at the Kingdom Hall as a congregation.  Some lost lives.  However, the moral of the talk was how they had to lean on Jehovah to eat daily.  They managed to get a fish, one fish, one day that had to feed many and some didn't eat, others only got a spoonful so that most could have just a taste. The conditions are still very hard in some area's of the world. And for some in the USA., homelessness and hunger is unthinkable, You can't imagine!  Here in TX I see someone at every corner red light begging for handouts from drivers as they wait on the traffic light to change.  I have never seen that in LA or VA where I have lived before coming to TX. It is against the law to beg on the streets in some states.  And I don't know all of the ways people are suffering but I know they would live as kings if they had 4K to live on monthly.

 

So I know for a fact, 4K  a month would mean riches and more to some families who are living on much less.  My words don't mean much to some but to others, they may relate.  Personally, I still live on not even close to 4K and have to just live without what that amount could afford such as health insurance.  I didn't mean to step on anyone toes, but really some have it made and don't realize what others have to live without. Yeah, they work for their living and I am not mad at them.  However, some can't work for a living and have to just live without, while others spend so much on things for removed from the basics. 

Edited September 23, 2014 by loving life

[trottigy]

Quick update

http://money.cnn.com/2013/09/17/news/economy/poverty-income/

And "median" means 50% of all people in the US are living at this or less (and 50% on more). 15% are living in the US at under $24k.

Edited September 23, 2014 by trottigy