Quote Originally Posted by Ruiner
Even a mortgage at $1500 a month + utilities + cell phone + car insurance + escrow (for insurance and property tax) will put you around $22-2500 a month. Let's figure that $50k will have you bringing home $38-40k a year.

So, $2500 month (mortgage + utilities + escrow) = $30k a year

If you are only bringing home $40k a year, you only have $10k a year (or $833 a month) extra. Now you have to buy food, gas, car insurance, car note, etc.

$50k won't even be CLOSE to enough and that's if your mortgage is $1500.
I concur. I think nowadays if you're single, and living by yourself, you should make minimum $60k after tax to live decently, and be able to put away money for retirement or rainy day.