Will a job that pays $20,000 a year be enough to move out? I’m trying to find a job that pays w...

SW-User

Yes ,if you lived in a tent

Heartlander · 80-89, M

The 2 greatest costs would be shelter and health care. Find a way to get those two to near zero and $20K, even $10K would seem doable.

For the health care part, an employer that provides that could get that under control. For the shelter part, consider public housing. It's not free, but less; and some communities have great public housing. Another option there is to find a roommate, or other cooperative arrangement. Check with a nearby senior center and maybe there may be older people who would be willing to offer an unused bedroom in exchange for a little help.

The next big expense is is probably transportation and all the add-ons for that, like insurance and taxes.

GJOFJ3 · 61-69, M

Easy formula
To live on your own you need at least 3 times whatever your housing costs
If rent is $1,000 you need to make $3,000 per month, $36,000 a year
In order to live on your own at $20,000 a year your monthly rent would have to be no more than $550 a month

DunningKruger · 61-69, M

Depends on where you live. Less than $12,880 a year is considered below the poverty line in most of the United States. You can make $20,000 a year work if the cost of living where you're at is low, but it would be difficult.

Also remember that your take-home pay is only going to be maybe 75 percent of that, so a gross income of $20,000 would bring in $15,000, or under $300 a week. You can live on that if you don't have very many expenses and you manage your money carefully, but it's no fun.

Rickg · 31-35, M

Where I’m from yea
You’d probably only be able to rent a room, no car, not even sure if you could work a cell phone plan in there

But it all depends on what the cost of living is where you are

Poppies · 61-69, F

Who asks you when you're going to move out? I hope it's not your parents--I think it would be better to wait until you are making quite a bit more money. If you move out you'll need a roommate or roommates to make ends meet, and you'll still be living hand-to-mouth. I hope you can stay at home a while longer, save as much money as possible, and be as helpful as possible to your parents so they won't mind you being there. Oh, and try to acquire the skills to make more money. Yes, all easier said than done, I know. Good luck.

EmilyEdith · 56-60, F

A good rule of thumb is no more than 25% of your net income for your rent or house payment. In my area that's about 50k a year to afford a one bedroom.

Northwest · M

It depends on where you live.

In San Francisco, if you want an apartment of your own, you need to be making $36,000 per year (your monthly rent would be $2,500), so that's $30K, which would be $36K salary per year minus taxes.

You will need help from your parents to get some furniture, pay for utilities, food and clothes.

ScottR · 56-60, M

You would gross about 1667 per month. If you had roommates, it might work.

smileylovesgaming · 31-35, F

20K is not that much at all.

canusernamebemyusername · M

200,000? Lol

Quetzalcoatlus · 46-50, M

No