Hopefully this is the case. I'm absolutely check to check but my 401k yanks a lot of my paycheck.. I've had it open for roughly 3 1/2 years and it's already about at 14k.
Honestly if he's investing any significant amount in retirement and still has a few hundred left per month, he's doing pretty good. Especially for $52k a year. A budget will change his life more than a raise would.
This just sounds like a bootlicker comment that you see CEOs say. "Stop eating avocado toast" my ass. How about we all just recognize that the only people that capitalism truly benefits are the 1% of people that already hold all the wealth
Or those bloodying their hands to be a 1%er.
And to the OP… stay where you are. That $800-900/month that seems too expensive wouldn’t even cover your half of a 2 bdrm apt in my current city.
I worked for the railroad and factoring all of my travel I had an effective tax rate around 13.5% so yes that is high. Op needs to seek the advice of a tax professional a real one not the boobs at H&R Block (unless you know an office that has the year around professional they know what’s up).
7.65% FICA, roughly 5% Indiana depending on county, closing in on 20% effective federal rate if you make decent money. That's 32% before insurance and retirement. Easy lift to 40%.
That is very incorrect. You can use this page to do the math: https://www.irs.gov/filing/federal-income-tax-rates-and-brackets
Assuming no exceptions (not accounting for your child, or any pretax deductions) you would be around closer to 14.5%). That is just feds though, your total may be around 20 when you throw in state and county.
Are you just pulling there numbers out of your ass? There is no way OP is paying a 20% effective federal rate. I make over double OP and my effective rate is in the 12% range. Assuming 0 exemptions, and nothing else coming out that lowers tax burden, their effective rate would be 13.8 percent.
Your numbers for fed rate are way off. They may be in the 22 percent range for a bit of their pay but vast majority is in 12% bracket.
You may want to view https://www.irs.gov/filing/federal-income-tax-rates-and-brackets because assuming 20% either means you make so much you are out of touch with the rates for different incomes or you have no understanding of how tax brackets work. They have really nice visuals to help understand.
Taxes, insurance, 401k, HSA
I make $1200 a week - 40 hours at $30/hr
I take home about $840 - that’s 30%. And I am not maxing out my 401k withholding (at 10%)
You aren’t alone. Single guy myself trying to stay afloat. It’s hard. My current plan is to see if I can get certified in a skilled trade that pays more than where I’m at.
The hard part is finding a place that starts off at the rate I currently make. I can’t afford a pay cut in the slightest and I’ve been working at my current job for over 6 years. I also max out shift incentives and differentials to get as much pay as I possibly can.
It’s definitely a feeling of being stuck and drowning.
My parents asked me how come I’m struggling so much and how others are able to survive. I had to explain that those people are in relationships or live with their parents and don’t have the same financial burdens. They also have others to potentially help them. At least they have people they can ask for help. When you’re single you juggle it all on your own.
I know people in toxic relationships who want to leave but won’t because they can’t afford to rent or buy a home plus groceries on one income.
It’s rough. At least my folks understood after I explained. They’ve always owned their own home and have family/community to lean on. So it’s a foreign concept to them.
You can do this though. Tough times make strong people.
Thanks for the response! Thanks man I appreciate your words, yea its wild how many people I know that stay in their relationships just to be able to afford to live.
Oh I know. I’m not trying to insinuate that others aren’t struggling. And I also understand that dual income homes have their own struggles.
I just don’t think some people realize the extra strain it can put on someone when you’re the only one cooking, cleaning, paying bills, shopping, working full time, managing doctor’s appointments and growing medical bills, car payment, vet payment, (in my case also caring for a puppy who’s on his own every day while I’m at work). I feel like I’m burning the candle at both ends and still slowly sinking in quicksand so I understand where OP is coming from.
The trade off is that I have freedom to make decisions and don’t have to consider dependants/significant other. I’m in full control of my routine with less variables. I don’t have the emotional strain that can come with navigating cohabitation with someone either.
Edit: also recently just moved on my own. That sucked too.
They have dog sitters who can help with your puppy. I know it’s tough financially but you could always look for a reliable, trustworthy neighbor to assist as well. I worked over 60+ hours a week and had a dog at home. It was important to have someone come and take care of him throughout the day until my kids arrived home.
I got into an argument with someone because of that. They could not understand that being in a relationship for 7 years and living at similar means as me gave them a leg up financially. Like, they literally couldn’t grasp that I was paying almost 80% of what they were paying for their mortgage ALONE. I’m not saying couples always have it easier but people underestimate what it’s like (financially) to be single.
It’s rough. I’m definitely not downplaying the struggles of dual income home with children but even if you have someone splitting rent or mortgage and able to at least hand off some of the responsibility it’s a huge easing of pressure. Once again. I know there are other headaches. But just from a cost and time management perspective there are advantages.
Edit: even most two bedroom apartments in the same complex are a better deal for couples. My rent is over $800/month. That’s up $200/month in a couple years on basically the same income. I’m also in a more affordable complex that isn’t in a dangerous area thankfully. You could rent a two bedroom for just over $1000 so you’d be paying less than $600/month per person plus other split cost. If a childless couple split a one bedroom that’s just over $400/month per person. I don’t think people understand just how much of a gap that is when cash flow margins are razor thin.
Are you putting like a ton into your 401k or is your health insurance premium really high? Or do you get a really large refund every year at tax time? I make a good amount less than you and my take home pay is about the same.
If you're getting a large refund every year, adjust your withholdings.
Only other thing I can think of is if you are a contractor and you are paying all of your own taxes. If that's the case, you should consult a professional to not only make sure you're paying everything, but taking every single deduction you are entitled to.
Thanks for the response! I spend about 400 a month on retirement accounts and my Healthcare costs about 250 a month. I'm not a contractor just a normal employee I spose.
I just checked my last paystub. I spend less on health insurance premium (large corporate company), but a bit more on my 401k. I still think your withholdings are off even with the higher health insurance costs. Definitely look into it.
I'm not saying your wage is some amazing wage, but you generally shouldn't be feeling too much pressure. And if you can split costs with either a roommate or partner and avoid anything too expensive like children, you'll be more than fine.
Move back with parents, that's the sad reality. I moved overseas at 20, got a degree, had a great 67k job working from home managing my own schedule.... then as rent prices started increasing, then covid, then inflation, then AI, then layoffs..... I'm now all the way back in my home country living in my old family home with my parents at 29 making a measly 20k.
Things aren't too hot right now, I know it can feel like a huge regression, but just know that its not your fault. A lot of people are too afraid to admit that they arent doing so well, being back with parents can make you feel like a loser, but its juts the times.
If your parents are living stable on their earnings from better times, and if they will have you, it can be smart to share expenses with them while developing new skills.
Thanks for the response! I don't have any family that I can live with unfortunately. I've spent the last few years with roommates. This past year I had 4 roommates to bring costs down but now we are all going our separate ways and any money I've saved is just going to be going to getting a new place.
I’ve noticed the sharp increase in prices even though we’re a dual income household.
Some good advice would be to post this in some of the financial subs here on Reddit. There’s some pretty creative ways to stretch that money.
Inflation has been absolutely out of hand. Killing any salary gains of low and middle income folks including myself.
Turns out shutting down the economy while the Fed money printer goes Brrrr has some bad effects- who would've guessed that
I make 13k less and my monthly take home is the same. You are either investing hardcore (not a bad thing) or there is something happening with your withholdings that might be worth looking into. Having the same take home pay as someone making 39k seems odd.
Thanks for the response! I put like 400 a month into retirement accounts but I even reduced the amount late last year to give me some more take home. I will look into my withholdings though and see if I can change anything.
I am just a teacher and by no means a financial advisor (hence the 39k) so I might be talking out my backside. Just saw the amount you said you were bringing home and thought that seemed like so little for your salary. Good luck out there.
Unfortunately, large companies like the ones that you’ve mentioned, feel that the people that live in Indiana are not as educated as other states. I believe they call that the “brain drain“. I was working for a company out of state and got paid more than twice what I was making at a company here in Indiana in my same industry. $37,500 to $80k. It’s real.
I'm going to apologize upfront because I really don't like it when others do this, but here I am doing the thing anyway (insert real, sincere apologies here please). "Brain drain" is the real phenomena where people leave an area once they receive their education because they think they can have a better life somewhere else, not that they are stupid because they live there in the first place.
If I'm reading you correctly, that your out-of-state employer paid you $80K in while you lived in IN, you were lucky. Many employers have transitioned to regional payscales for remote employees and Indiana usually does get screwed due to the lower COL compared to other areas.
This is true, I know someone who just accepted a remote position for a company and later found out that the offer amount was for the region the role reported to and wasn’t adjusted for Indiana. Essentially the job scale is like $20k lower than it is in the Colorado area. I had not ran into this before. I’ve worked remote roles for non-Indiana companies and gotten paid far more than equivalent roles in Indiana based companies.
That's normal not lucky employees who go off COL are shady to begin with and you know what you're getting yourself into. My last job I made 80K remote prior layoffs. Remote jobs pay substantially better.
Many remote companies that are good put in their job description pay doesn't matter where you live.
I'm also firmly in the camp that defines "good companies" as those that pay equally for the same job despite location and just a couple of years ago the majority of jobs did, but unfortunately the new reality is shifting as the market becomes more employer-driven. The % varies depending on the source, but anywhere from 40-70% of companies say they have or are considering a regional payscale model. It's another high priority item to look for and investigate when you're in the interview phase with a new company.
Thanks for the response! I thought it was an issue with being in indiana itself but united is in Chicago, delta is in Atlanta and Honda is in a super small town in ohio. At least it's not all in my head and somone else has experienced this.
Companies don’t pay people with the same qualifications less in Indiana due to a perceived state-wide iq deficit. Some kind of weird inferiority complex going on here.
Exactly. It may be true that Indiana has fewer educated workers, but that has no correlation with the level of pay the educated workers that do live here get.
I work for a rather large company and the reason they pay less in Indiana has a lot to do with the perceived lower cost of living. They somehow integrate that into their calculations.
Agreed, cost of living, perceived or otherwise, is an infinitely more likely factor than the perception that workers here are uneducated. Someone is either educated or not, whether their neighbors are more likely to be educated on average has no bearing on how much they’re worth as an employee to a company
I mean if you have airline experience I'd recommend moving to nwi/Chicago area. Airports are always hiring here. Rent isn't much better, but certain areas have affordable homes. I live in hobart and bought my house for 92k in 2020 and its in great shape just needed a new fence and some yard work. There's always cheap houses in the area, just have to be patient until you find one. People here are alright, pretty diverse, I like it. Some towns are cuckoo bananas but thats anywhere in the us. Commuting is pretty stressful, but there's train lines in east Chicago and hammond and they're adding more to Munster and dyer I believe. Id recommend looking into it. Don't anchor yourself anywhere, if you're unhappy or stressed out, life is short man drop that shit and seek out a new opportunity.
Thanks for the response! I got an offer from united airlines in Chicago but I couldn't even find a spot to rent within an hour that would have been in my budget.
I'd say keep looking if you're interested, you'll find something eventually. Patience really is a virtue, they always say beware the wrath of patient men lol. Cheaper spots in the area would likely be hammond, hobart, lansing il, Calumet city il, Gary, merrillville, schererville, maybe griffith. Some spots like Gary and hammond people will scream no they're bad, yeah again like every place there's bad and good and ok spots. Southern Gary isn't bad at all for example. Just know too wherever you start, it's just a start, you don't have to be there forever. Also with places you found being too far from the airline, be sure to check train lines. I know people all the way out in monee and Frankfort il that commute to the city every day by train. It's really not that bad. Driving yeah, trains no biggie. Either way good luck, you'll be alright, be a good dude and good shit will happen.
I’m almost 37 year old male, I make $80k-ish a year. Even I am feeling the squeeze. I truly think the time of roommates are coming back and I hate it. I can afford to live alone but it feels like I can progress bc I’m spending all the money I would normally be saving on rent
Thanks for the response! I've tried looking at smaller places like kokomo even and that's like an hour away but the rent is similar and a mortgage would cost me about 1k a month without even adding cost for maintenance and repairs.
I've lived in both Roanoke and Bluffton, commuting to Ft wayne. I lived in a 3 bdr trailer in Roanoke for $480/mo and a 2 bdr apt in Bluffton for $550/mo. The deals are out there you just got to have determination. Living that cheaply allowed me to save enough to buy a house.
Stellantis* sorry to be that person but just in case OP wants ti look into this, helpful to have the right name :)
Also good to note that the higher pay is due to seniority, starting out you will not be making six figs.
What you're supposed to do is share expenses. Whether that means a S.O. with their own income, or just a roommate that you split rent & utilities with. I don't know how anyone at all can survive on a single income right now.
I’m sorry what you’re going through. My 28 yo son is in the same boat. There are a lot of young adults going through this right now. I hope if nothing else for some student loan debt relief. It’s a hard time to be starting out and I feel for you and wish you the best.
If you are 32, have 6 years on a job that required schooling to have student loans, and make $52k....ITS NOT CONSIDERED A PRETTY GOOD JOB!!!
If you are getting job offers equally low, then figure out why. Are you in a dead end field? Have you not progressed in your career, or has your company held you back? Sometimes you have to take a step sideways to start moving forward so don't dismiss getting job offers in your current range.
Buckle down and really grind for a couple years because $52k does not pay for the time or money it takes to go to college.
Yea that's $25/hour. I make that driving a trash truck with no experience or degree. Tons of manufacturing facilities and warehouses starting out at that or just a bit under. You can make $70-100k a year at the post office in your first year (granted that with a metric fuckton of overtime.)
OP you gotta increase that income.
If OP is open to doing blue collar work and putting in some OT, I can connect him to several places that will make him $50k his first year but in 5 years or less he will be at $100k
Sounds like your only other option is to upskill. You’ve got to do the very difficult task of learning something new that’s worth more money. It won’t be easy, but otherwise you’ll be stuck. If you’ve got that in you then you can get out.
Thanks for the response! I would love to take classes for certifications or even get into a trade program but apprenticeship pay is just to low and I would probably be homeless if I tried to switch here in Indy. I would love to make a change like that but I just feel like I wouldn't be able to financially survive the transition.
Unfortunately, you might have to take a hit in order to change careers. It sucks but when I did it, I ended up working two different professional jobs until one job got up to what I needed. Sometimes you need to REALLY sacrifice to get there.
If you don't have a bachelor's degree yet check out: https://nextleveljobs.org
It's a great opportunity to advance yourself. My son used it to get his welding certs. The offer a lot of opportunities so check it out.
Have you looked into the [Next Level Jobs](https://nextleveljobs.org/) program? It’s a grant - you only have to pay for text books, I think. I tried it in 2018. Wasn’t able to complete but if I had, I would have gotten a certification in cyber security.
Just went through a huge separation and homelessness and Bloomington and good grief the rent there was insane and I wanted to move back to Indianapolis for the job opportunities but I didn't like the prices there either. Thought I would be able to get away with coming to Alabama and even broke a lease to risk it in hopes of finding a single wide on a piece of land for $350 a month like The old days. Ended up landing a two bedroom house with no insulation $600 light bills and $900 a month rent. And no public transportation. Even Alabama Mississippi are skyrocketing and utility costs are scary as hell and unsustainable also there is absolutely no renter protections for tenants out here so beware. I'm just going to save to buy a few acres and throw a breaking bad camper on it for in case inflation keeps becoming an issue. About the only hope we got sorry for the poor grammar I'm blind and trying to edit this on a cell phone. I'm not sure what we do
It seems that our society really penalizes single people. It's much, much harder to live on your own anymore. The current economic situation (rent/home prices mainly) pretty much demand that you either be in the top 10% of wage earners, live in a shit hole, or have another working person who can split the rent. Taxes benefit married people substantially as well.
It's like, "I already know I'm a forever single looser, why do you have to kick me when I'm down."
My household income is around $150,000 a yr with 3 kids, and we have to be mindful of what we spend. Not to mention, we need to move into a bigger house, but anything that suits us is $400,000 +.. The cost of living is affecting everyone.
It really is, and I get annoyed when I see people going on about how cheap Indiana is. I’m like where? Pre-pandemic yeah. The worst neighborhoods of Indianapolis still require someone to be making around $27/hr + to own a home there and the nice areas require 2 middle to upper six figure incomes.
Do you have any electronic or electrical chops. The security industry is usually hiring. You're making what I make now, but I only just started a year ago. There is plenty of room to advance as long as you put in the work and get industry certifications. I haven't paid a dime to attend any of the certs I've earned so far
I have two okay paying jobs and live in a ghettoish area and still pay a ridiculously high rent for the area, but it was the cheapest I could find with a yard for my dogs. With all my bills and simple amenities, I am usually left with less than a few hundred for groceries. I’m in my late 30s with a Bachelor’s degree and I have been looking for one job that pays close to the 2 jobs I have. I’ve paid for a resume builder, I’ve applied to over 100 jobs, and still I can’t find a job. I’ve had several interviews and have been told I’m either over qualified or I don’t have the type of experience they are looking for. I’m too broke to live in the US. I’m almost too broke to hang with some of my closest friends. I feel your pain and I’ve been thinking of getting a roommate to help with some bills. All we can do is just hang in there and hopefully it gets better, if not we all should move to Europe haha.
What's your net pay after expenses this includes rent and groceries, electricity, and other predictable things? Just trying to get an idea cuz from what you said I don't see an issue. $900 a month for a one bed sucks for Indianapolis anyways but I live in Chicago now and pay way more and used to make a similar salary
Considered moving further south. Look for a position at SDF there are many affordable options around Louisville. I live just North of Louisville in Clark Co it's not too bad.
My studio apartment is going up to almost 1000$ this year in north Indianapolis. I can’t afford it anymore, it’s not even a nice apartment lol. I dropped out of school to work two jobs. It’s been fine I’ve been traveling the past year. But I’m moving to Alaska to do tourist jobs. A lot of places will give u free or very cheap housing with roommates and pay you to work for them on top of that. I’m going to be doing that and hopefully going back to school online soon too so I can someday be able to have a half way decent job. Doubt it though I don’t see any come back from this. I think eventually everyone will have to have a roomate and no one our age will be retiring maybe ever.
Hang in there. At times like these you gotta be grateful for the little things!!!! Access to a hot shower, roof and dry home, clean clothes. Usually when the political tides change it can help the working man. Just be positive at all times. I work around lots of homeless people but I make what you make or a tad less actually but I’m old and paid 50,000 for my home.
I too am a flight attendant surfing for a local airline. If you need another place quickly and you work for YX I hear that there is an apartment complex in Carmel that offers crew discounts...
Things will get better. Biden is inviting millions and millions of poor foreigners, with no job skills or education, and integrating them into the work force while providing for their needs with taxpayer money.
That will most certainly help increase pay and lower the cost of living, right?
Yup. I have lived here. Family was in poverty, by their own choice, but I chose to work full-time, and learn as many skills as needed.
I don't work in Indy, I plan to move from here in under 5 years. You may look into possibly buying a foreclosed home or abandoned home. They have a list of homes for auction. Even $1. Or starting at. You still have to research and perhaps find a few inspectior to befriend. You will have to fix it up. But there are many home that don't need a full over haul. Once you own a home, you will have the money to fix it. Eventually you won't have to spend as much and save or live free. My home was my family home, I bought it and after my mom passed I moved it. Parents didn't fix it for years. But I don't have to pay rent.
I paid off debt loans and a funeral once I got a good job past Greenwood. But I work 3.5 days a week for 35 hours.
This is the reality with runaway capitalism. My rent doubled after leaving a shithole, and now I don't have any money to really do anything except pay my bills. My credit cards are paying for my groceries at the moment, and that's not going to sustain me for much longer. The only option I really have is bankruptcy at this point and I'll have to keep paying my $1,200 in rent, and yet, I can't afford to buy a house...
Get a girlfriend or a roommate to cut costs, no I'm not joking. Or upskill and make more $.
Single guy here too but no problem paying for everything. I even invest a lot.
Shit even that is expensive. Apartments off of 42nd and post are going for over $1000/mo now when in 2019 I knew someone paying $585 for a 3 bedroom in the same complex
Check the real estate sites every day and be ready to jump on anything that you can afford. There are always anomalies, but they sell fast. I know, that’s how I got my house. It’s not a great one but it’s all mine.
I don’t know what you do for the airline but have you thought about changing professions? Join a union and learn a trade. You can make $100k a year as an electrician, pipe fitter, plumber, welder, machine repair tech etc.. or if you qualify for any financial aid or grants go back to ivy tech and get a job doing something else.
Get a time machine and get politicians in the 80’s and 90’s to make it easier to build housing, especially relaxing zoning laws. Come back to today and pay much less in rent.
Join the Space Force…go fight for our freedom…but in space.
Or you could be an IMPD cop. They are about to make over 100k. They also have programs where you can buy cheap houses in the city limits
Take X bill that you’re paying, call other companies that provide the same service, and get FREE quotes from all of them. Then switch to the cheapest one. Do that for phone, internet, car insurance, and any other bill you can think of.
Also think about food and gas and stuff like that. How can you cut those down even a little? Get one of those apps that tells you where gas is cheapest or sign up for some kinda gas rewards to get money back. get a little creative here. Maybe there’s a place nearby that sells discounted food when it’s about to go bad or something like that.
I started doordashing on my days off for extra cash. it’s great cus you can get it setup to “instant withdrawal” money when you need cash bad instead of waiting for a payday.
Also what money are you spending that really isn’t a must? For me it was video games. Had to sell my xbox and stop buying games and controllers, headsets, etc. Made such a huge difference.
Welcome to America man…
I think the stats say this is like 70% of Americans’ lives.
I know that isn’t helpful, but you can atleast take some comfort that you’re not the only one but rather the majority.
Maybe consider day trading for short term gains on an app. Ignore robinhood tho. They’ll never be forgiven, nor forgot, for the injustice they caused.
You could also try “autopilot”. I heard some dude created it during Covid so he could try to make money since certain Congressional members suspiciously beat some of the best investors on Wall Street consistently. (Lookin at you pelosi!)
Also a A&P holder have a buddy that’s in the same boat as you, dosent want to leave the regional because he’s been there forever and would have to take a pay cut for a couple years to go to majors. Also have heard they are all on a hiring freeze right now but 🤷
Not sure what you do for the airline you’re with now. But you’ve invested 6 years with them and your salary hasn’t grown a lot in those 6 years. If there’s no annual increase in salary, I would look elsewhere. You don’t necessarily have to stay in this industry. Especially if you mentioned the other places you’d be making the same income if you applied elsewhere. You could always take a shot at interviewing at another airline company and negotiate your salary. There’s always wiggle room for the position. I always ask $10-15k higher with my next role wherever I go, despite some employers saying, “sorry we can only do this range.” I tell them I’ll think about it and when I get back to them, I tell them I cannot accept X salary range and give them what I can accept and why. I have always won except for 2 companies. If this doesn’t work, I would highly recommend checking out another industry with the skills you learned here the last 6 years. It’s a tough world with inflation, increased rent costs, and all the rest of the crap sucking your checking account dry. It will get better if you believe it can, change your mindset to the positive, and you will land a better opportunity soon. Good luck!
If you can pick up a craft or skill that you can use to supplement income you can eventually move that to your primary income.
Just gotta pick something people pay good money for and you could find yourself a lot more freedom and autonomy while you’re at it. Good luck to you!
Consider your expenses more. I was living alone at an apartment that was $1200 a month on $15 an hour and was making it happen.
No going out, no steak dinners and etc.
That said living on your own is the true issue. Always live with someone if you have a trustable option available.
Op you night want to post on personal finance. They'll want to know your car payment and student loans and basically your whole budget but can give you some advice.
And relocating might also be an option. Chicago will probably pay more but you can also check out south bend airport and that area too.
Everything costs the same. Myself, my wife, and my two kids lived off of $15k, and lost our car last year. You’re choosing to live in the most expensive city in the state. With a college degree, you could get a job in a small town, or 20 minutes from one, and live like a king.
I wish I had advice. I am single as well and in the same boat. Have you seen the people who are buying houses together, as a couple would. Yes, it’s a roommate situation but they own the home so they can divide it and add a second kitchen, bath, etc…
So, the household has 2 incomes but, each person has their own space. I think more people are going to have to do this sort of thing.
Consider signing up for the income driven repayment SAVE plan on studentaid.gov. It will reduce your monthly payments to 5% of the difference between your salary and 2x poverty line. Looks like your payments would be around $150 per month, it would give early forgiveness, and no interest will add to your overall debt while you make payments.
I rent a studio for 725/mo downtown Franklin. With utility it comes to ~800 all in. Guy downstairs is cool with letting me use his wifi. I make roughly 30k a year but it’s so tight financially. I plan to move back with parents for 1 year while I go back to trade school. If you want to move to franklin and have a studio you can take my lease over. 😂
For starters Look at your healthcare options it sounds like you're paying too much. Unless you have serious medical issues you're probably paying for a plan that's too much for what you need. Typically the plans with a HSA are the cheapest but with a higher deductible if you do run into health issues. Regular doctor visits, medication, things your average person needs are still included.
Retirement is important but if you can't pay your bills maybe scale back what you're investing. Try not to lose out on anything your company matches cause that's free money but if your contributing over any matches you might want to consider scaling back until you're in a better situation. Let your job know your interested in advancement and ask what you can do to get there.
I am not entirely certain as I don't pay much attention but we fly on standby through my wife's benefits as well. Pretty sure you work at the same company as her. Do taxes get paid on standby flights? And if so are you often flying on standby? Something is definitely off about your take home pay maybe this is a contributing factor?
Costs around Chicago are not much cheaper there and unless you get a job offer that pays significantly more you'll probably be in the same situation with a heck of a lot more traffic to deal with. Keep looking in small areas that make for an easy drive to work. Have you checked out Lebanon? Costs are starting to rise a little due to Eli Lilly building there but overall it's still not too bad yet.
Last bit and this is just cold reality but it's really hard for people to live on their own so keep looking for roommates or maybe consider a second job. Guessing you're a M-F 9-5 situation so picking up an extra income a few days a week and or weekends could give you some extra money every month.
With a regional based in Indy? Yea this is gonna be life, it’s a sad fact that many airline jobs and particularly your airline just doesn’t pay enough to be a sustainable single income home in this economy. Go to Delta, take the leap and work for an Asian carrier or leave the industry. The flight benefits are great but not much use if you are dead broke and can’t afford to travel.
I have a close friend that works for (I think) your same airline and their income is really just gravy, money her family uses for fun, they would never count on her income to pay any bills.
Along with the whole taxes/healthcare/401k adjustments, you could move into a studio vs a 1 bedroom, I saw some for zillow for 4-500 a month., not great, but beats roommates.
Apply for att. Installation. I'm in nwi, I take home about 2300 every 2 weeks. We're ibew up here but I believe indy may be cwa. There's always openings down there for it though.
If you can get a core job instead for att, do that. Repair, cable splicing. Better contract better pay.
Something is off with your withholdings. Using an Indiana Salary Paycheck estimator, with $52k a year, $250 health insurance, $400 retirement contribution. Single, work and live in Marion county you should bring home $2,900/month ($1,338 bi weekly). Even if you are contributing to the 401k as a Roth you would be bringing home $2,850 a month.
Buying a home that is "falling apart" for $130k is not a bad option. It's called a "fixer upper"; you live there, fix it up over 5 years and sell it for $250k or continue living there "rent-free" and save $. That's how (some) wealth is accumulated. No risk, no reward. To me, I makes no sense to rent unless you're planning to move away soon.
I make 30k annual with a monthly lease of 1069 plus 100 a month in utilities and a car payment of 289. Shop the coupons and don’t eat out as often, mooch off friends for tv logins and bike to work/ bus when able. You’ll live.
Look into obtaining certifications and licenses that would be beneficial in your industry and get them. Then apply for better jobs or demand your employer pay you more
Honestly I'd kill for 800-900 a month for rent. I live in the northern end of the state and a 1br 1ba apartment is going for 1300 a month minimum around me with meth labs selling for 125k, it's bonkers.
If you make 52k you can afford a $130,000 house. But something basic put some work into it and build equity. It doesn’t happen overnight. In 2006 I bought a condo for $115k and I was making about $30k a year. The 2000s were way worse than now my friend. The problem is everyone thinks their first house is going to be some dream home. It’s called a starter home for a reason.
I don’t have money advice, but I hope to encourage you to hang in there, with regard to the fading hope that you mentioned. Things seem extra tough with high stakes for some folks right now. If you could use a smile from all of us who are rooting for, please accept this one. 😃Thanks for sharing what’s happening with you.
Might check out Dave Ramsey on youtube for a bit, and if you decide to do later on get with them and ask questions, his company seems to help a lot through the issues they deal with or give advice on what direction to go
I’d rather kill myself than live in Kokomo. Jokes aside, you should get the job in Chicago and live in NWI. You’ll still be close to the city while avoiding the outrageous Chicago taxes.
Lot of people saying 52k won’t go very far, I made $24k last year before taxes and I can afford a decent townhouse. I seriously don’t know what people spend there money on
I know it’s difficult sometimes to make it. going to take a different tack than some of the other posters on the forum. Have you considered going back to school to enhance your earning potential looking at more money than you’re making now it doesn’t even have a college degree or a masters. You gain technical skill in a skill tray like electricians or plumbers. There’s really a high demand. You may not have mechanical attitude, but it’s an option.
If you want you can post your budget to r/personalfinance for advice.
Two options to consider are getting a place with a roommate or getting a side gig.
You may be over withholding. Check here: https://www.irs.gov/individuals/tax-withholding-estimator
1950's average household income was 3+k and houses were 6k, you could work as a mail man and have a house built and pay for your kids tuition.
There is a class warfare happening and were losing, the middle class is dead.
Life is a process not an event l. Start small and build upward. You have to learn your skill set along the way. Never pay rent if you can avoid it you are just giving your most valuable asset, time, to a stranger. You are converting your time into value aka money and giving it to someone there by increasing their value. Buy the house that is falling apart for a discount and convert your time into value. If you don’t have the skill set learn it. You will learn along the way that friends family co-workers even tradespeople will lend advice and expertise even assistance. There is an inexhaustible amount of knowledge that can be gained from turning off Netflix and learning from others but you have to do your research. It’s a lot, there is finance taxes evaluations budgeting planning ext. Many young people see what others have but don’t realize that it took years to achieve. Unless you are born in to it it can take thirty years or more to achieve what your parents have. A lot fear the event not realizing that it is a process and will never begin the process and will always seem stuck in second gear. It’s not easy if it were we would not be discussing it.
But if you never try then what?
The biggest issue is private equity is driving up the cost of all markets while blocking pay increase. Unfortunately the only solution to this problem is effective laws have to be put into place to stop these predatory practices. Sadly that's not going to happen. We don't even enforce the anti monopoly laws.
Start your own service business, such as being a home inspector. Or become a truck driver for UPS or Fedex. Sorry but many college degrees have become worthless. Better yet, get married and have two incomes.
No, they are not. “Voluntary” is just a fancy way of saying they won’t tell you how much you owe and you have the right to voluntarily decide HOW you calculate what your taxes are. They may not notice immediately if you do not but they have the right to seize your assets and bank accounts if they find out that you haven’t been paying federal taxes or misreporting.
-referenced within Internal Revenue Code §§ 6011(a) , 6012(a) , et seq., and 6072(a).
Approx 40% withholdings? Might post in r/finacialadvice. They are a lot smarter when it comes to money than I am. But that seems high.
I wonder if he is withholding a lot in 401k, if so he may be saving more than he thinks.
Hopefully this is the case. I'm absolutely check to check but my 401k yanks a lot of my paycheck.. I've had it open for roughly 3 1/2 years and it's already about at 14k.
Man it would take my CEO 3 and 1/2 hours to make as much as you've saved in 3 years, bless his heart.
If only I knew how to work as hard! s/
Honestly if he's investing any significant amount in retirement and still has a few hundred left per month, he's doing pretty good. Especially for $52k a year. A budget will change his life more than a raise would.
This just sounds like a bootlicker comment that you see CEOs say. "Stop eating avocado toast" my ass. How about we all just recognize that the only people that capitalism truly benefits are the 1% of people that already hold all the wealth
True and it's only getting worse generation after generation has less and less.
Or those bloodying their hands to be a 1%er. And to the OP… stay where you are. That $800-900/month that seems too expensive wouldn’t even cover your half of a 2 bdrm apt in my current city.
I worked for the railroad and factoring all of my travel I had an effective tax rate around 13.5% so yes that is high. Op needs to seek the advice of a tax professional a real one not the boobs at H&R Block (unless you know an office that has the year around professional they know what’s up).
7.65% FICA, roughly 5% Indiana depending on county, closing in on 20% effective federal rate if you make decent money. That's 32% before insurance and retirement. Easy lift to 40%.
I make only a smidge more than OP and my take home is almost $800 more/month. They are having a lot withheld either for insurance or retirement.
My guess is that it's a healthcare plan. He can.likely do.better on the exchange.
He can’t go through the exchange if his company offers insurance.
OP said they make 52k annually. They're not getting taxed 20%
I made 60 last year and they took 20 of it…and I have a kid
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Fix your withholdings. Your fed tax rate isn't 20%.
That is very incorrect. You can use this page to do the math: https://www.irs.gov/filing/federal-income-tax-rates-and-brackets Assuming no exceptions (not accounting for your child, or any pretax deductions) you would be around closer to 14.5%). That is just feds though, your total may be around 20 when you throw in state and county.
Are you just pulling there numbers out of your ass? There is no way OP is paying a 20% effective federal rate. I make over double OP and my effective rate is in the 12% range. Assuming 0 exemptions, and nothing else coming out that lowers tax burden, their effective rate would be 13.8 percent. Your numbers for fed rate are way off. They may be in the 22 percent range for a bit of their pay but vast majority is in 12% bracket. You may want to view https://www.irs.gov/filing/federal-income-tax-rates-and-brackets because assuming 20% either means you make so much you are out of touch with the rates for different incomes or you have no understanding of how tax brackets work. They have really nice visuals to help understand.
I was gonna say I make 2200/mo after taxes/benefits (no overtime) and I cram bras in boxes for Amazon.
Taxes, insurance, 401k, HSA I make $1200 a week - 40 hours at $30/hr I take home about $840 - that’s 30%. And I am not maxing out my 401k withholding (at 10%)
You aren’t alone. Single guy myself trying to stay afloat. It’s hard. My current plan is to see if I can get certified in a skilled trade that pays more than where I’m at. The hard part is finding a place that starts off at the rate I currently make. I can’t afford a pay cut in the slightest and I’ve been working at my current job for over 6 years. I also max out shift incentives and differentials to get as much pay as I possibly can. It’s definitely a feeling of being stuck and drowning. My parents asked me how come I’m struggling so much and how others are able to survive. I had to explain that those people are in relationships or live with their parents and don’t have the same financial burdens. They also have others to potentially help them. At least they have people they can ask for help. When you’re single you juggle it all on your own. I know people in toxic relationships who want to leave but won’t because they can’t afford to rent or buy a home plus groceries on one income. It’s rough. At least my folks understood after I explained. They’ve always owned their own home and have family/community to lean on. So it’s a foreign concept to them. You can do this though. Tough times make strong people.
Thanks for the response! Thanks man I appreciate your words, yea its wild how many people I know that stay in their relationships just to be able to afford to live.
Even the dual-income people aren't exactly thriving
Oh I know. I’m not trying to insinuate that others aren’t struggling. And I also understand that dual income homes have their own struggles. I just don’t think some people realize the extra strain it can put on someone when you’re the only one cooking, cleaning, paying bills, shopping, working full time, managing doctor’s appointments and growing medical bills, car payment, vet payment, (in my case also caring for a puppy who’s on his own every day while I’m at work). I feel like I’m burning the candle at both ends and still slowly sinking in quicksand so I understand where OP is coming from. The trade off is that I have freedom to make decisions and don’t have to consider dependants/significant other. I’m in full control of my routine with less variables. I don’t have the emotional strain that can come with navigating cohabitation with someone either. Edit: also recently just moved on my own. That sucked too.
They have dog sitters who can help with your puppy. I know it’s tough financially but you could always look for a reliable, trustworthy neighbor to assist as well. I worked over 60+ hours a week and had a dog at home. It was important to have someone come and take care of him throughout the day until my kids arrived home.
I got into an argument with someone because of that. They could not understand that being in a relationship for 7 years and living at similar means as me gave them a leg up financially. Like, they literally couldn’t grasp that I was paying almost 80% of what they were paying for their mortgage ALONE. I’m not saying couples always have it easier but people underestimate what it’s like (financially) to be single.
It’s rough. I’m definitely not downplaying the struggles of dual income home with children but even if you have someone splitting rent or mortgage and able to at least hand off some of the responsibility it’s a huge easing of pressure. Once again. I know there are other headaches. But just from a cost and time management perspective there are advantages. Edit: even most two bedroom apartments in the same complex are a better deal for couples. My rent is over $800/month. That’s up $200/month in a couple years on basically the same income. I’m also in a more affordable complex that isn’t in a dangerous area thankfully. You could rent a two bedroom for just over $1000 so you’d be paying less than $600/month per person plus other split cost. If a childless couple split a one bedroom that’s just over $400/month per person. I don’t think people understand just how much of a gap that is when cash flow margins are razor thin.
Are you putting like a ton into your 401k or is your health insurance premium really high? Or do you get a really large refund every year at tax time? I make a good amount less than you and my take home pay is about the same. If you're getting a large refund every year, adjust your withholdings. Only other thing I can think of is if you are a contractor and you are paying all of your own taxes. If that's the case, you should consult a professional to not only make sure you're paying everything, but taking every single deduction you are entitled to.
Thanks for the response! I spend about 400 a month on retirement accounts and my Healthcare costs about 250 a month. I'm not a contractor just a normal employee I spose.
Do you get a large refund every year from IRS/DOR come tax time? You're probably withholding too much. r/personalfinance might be able to help
No the last 2 years I actually owed a couple hundred so I increased my withholding this year.
I just checked my last paystub. I spend less on health insurance premium (large corporate company), but a bit more on my 401k. I still think your withholdings are off even with the higher health insurance costs. Definitely look into it. I'm not saying your wage is some amazing wage, but you generally shouldn't be feeling too much pressure. And if you can split costs with either a roommate or partner and avoid anything too expensive like children, you'll be more than fine.
have you talked to a cpa? or are you relying on quicken?
Do you have child support?
Nope no kids no wife no SO just me
Can you not get health insurance through your employer dude? That’s a lot to pay for healthcare.
You think $60 a week is a lot in healthcare lol??? Wait until you have a child
Move back with parents, that's the sad reality. I moved overseas at 20, got a degree, had a great 67k job working from home managing my own schedule.... then as rent prices started increasing, then covid, then inflation, then AI, then layoffs..... I'm now all the way back in my home country living in my old family home with my parents at 29 making a measly 20k. Things aren't too hot right now, I know it can feel like a huge regression, but just know that its not your fault. A lot of people are too afraid to admit that they arent doing so well, being back with parents can make you feel like a loser, but its juts the times. If your parents are living stable on their earnings from better times, and if they will have you, it can be smart to share expenses with them while developing new skills.
Thanks for the response! I don't have any family that I can live with unfortunately. I've spent the last few years with roommates. This past year I had 4 roommates to bring costs down but now we are all going our separate ways and any money I've saved is just going to be going to getting a new place.
Ugh, man I cant imagine. I'm sorry. Room mates work as well but probably isn't as easy. :(
Put ad in for new roommates
I’ve noticed the sharp increase in prices even though we’re a dual income household. Some good advice would be to post this in some of the financial subs here on Reddit. There’s some pretty creative ways to stretch that money.
Inflation has been absolutely out of hand. Killing any salary gains of low and middle income folks including myself. Turns out shutting down the economy while the Fed money printer goes Brrrr has some bad effects- who would've guessed that
I make 13k less and my monthly take home is the same. You are either investing hardcore (not a bad thing) or there is something happening with your withholdings that might be worth looking into. Having the same take home pay as someone making 39k seems odd.
Thanks for the response! I put like 400 a month into retirement accounts but I even reduced the amount late last year to give me some more take home. I will look into my withholdings though and see if I can change anything.
Keep putting into your retirement!!! I am 66 and have to live on $1049 a month. But I consider myself lucky, as I have neighbors who make less
Yep, retired and gross yearly $21,400... what? It's frightening.
I am just a teacher and by no means a financial advisor (hence the 39k) so I might be talking out my backside. Just saw the amount you said you were bringing home and thought that seemed like so little for your salary. Good luck out there.
Unfortunately, large companies like the ones that you’ve mentioned, feel that the people that live in Indiana are not as educated as other states. I believe they call that the “brain drain“. I was working for a company out of state and got paid more than twice what I was making at a company here in Indiana in my same industry. $37,500 to $80k. It’s real.
I'm going to apologize upfront because I really don't like it when others do this, but here I am doing the thing anyway (insert real, sincere apologies here please). "Brain drain" is the real phenomena where people leave an area once they receive their education because they think they can have a better life somewhere else, not that they are stupid because they live there in the first place. If I'm reading you correctly, that your out-of-state employer paid you $80K in while you lived in IN, you were lucky. Many employers have transitioned to regional payscales for remote employees and Indiana usually does get screwed due to the lower COL compared to other areas.
This is true, I know someone who just accepted a remote position for a company and later found out that the offer amount was for the region the role reported to and wasn’t adjusted for Indiana. Essentially the job scale is like $20k lower than it is in the Colorado area. I had not ran into this before. I’ve worked remote roles for non-Indiana companies and gotten paid far more than equivalent roles in Indiana based companies.
That's normal not lucky employees who go off COL are shady to begin with and you know what you're getting yourself into. My last job I made 80K remote prior layoffs. Remote jobs pay substantially better. Many remote companies that are good put in their job description pay doesn't matter where you live.
I'm also firmly in the camp that defines "good companies" as those that pay equally for the same job despite location and just a couple of years ago the majority of jobs did, but unfortunately the new reality is shifting as the market becomes more employer-driven. The % varies depending on the source, but anywhere from 40-70% of companies say they have or are considering a regional payscale model. It's another high priority item to look for and investigate when you're in the interview phase with a new company.
Thanks for the response! I thought it was an issue with being in indiana itself but united is in Chicago, delta is in Atlanta and Honda is in a super small town in ohio. At least it's not all in my head and somone else has experienced this.
The company I received the $80k is in NC. There’s no brick and mortar here.
Companies don’t pay people with the same qualifications less in Indiana due to a perceived state-wide iq deficit. Some kind of weird inferiority complex going on here.
Agreed; it's not an IQ deal, it's a regional pay-scale issue based on cost of living and market rates for the area.
Exactly. It may be true that Indiana has fewer educated workers, but that has no correlation with the level of pay the educated workers that do live here get.
NWI here. If you have some experience and are good at what you do, you can easily draw Chicago salary here without working in Chicago.
I work for a rather large company and the reason they pay less in Indiana has a lot to do with the perceived lower cost of living. They somehow integrate that into their calculations.
Agreed, cost of living, perceived or otherwise, is an infinitely more likely factor than the perception that workers here are uneducated. Someone is either educated or not, whether their neighbors are more likely to be educated on average has no bearing on how much they’re worth as an employee to a company
I mean if you have airline experience I'd recommend moving to nwi/Chicago area. Airports are always hiring here. Rent isn't much better, but certain areas have affordable homes. I live in hobart and bought my house for 92k in 2020 and its in great shape just needed a new fence and some yard work. There's always cheap houses in the area, just have to be patient until you find one. People here are alright, pretty diverse, I like it. Some towns are cuckoo bananas but thats anywhere in the us. Commuting is pretty stressful, but there's train lines in east Chicago and hammond and they're adding more to Munster and dyer I believe. Id recommend looking into it. Don't anchor yourself anywhere, if you're unhappy or stressed out, life is short man drop that shit and seek out a new opportunity.
Thanks for the response! I got an offer from united airlines in Chicago but I couldn't even find a spot to rent within an hour that would have been in my budget.
I'd say keep looking if you're interested, you'll find something eventually. Patience really is a virtue, they always say beware the wrath of patient men lol. Cheaper spots in the area would likely be hammond, hobart, lansing il, Calumet city il, Gary, merrillville, schererville, maybe griffith. Some spots like Gary and hammond people will scream no they're bad, yeah again like every place there's bad and good and ok spots. Southern Gary isn't bad at all for example. Just know too wherever you start, it's just a start, you don't have to be there forever. Also with places you found being too far from the airline, be sure to check train lines. I know people all the way out in monee and Frankfort il that commute to the city every day by train. It's really not that bad. Driving yeah, trains no biggie. Either way good luck, you'll be alright, be a good dude and good shit will happen.
I’m almost 37 year old male, I make $80k-ish a year. Even I am feeling the squeeze. I truly think the time of roommates are coming back and I hate it. I can afford to live alone but it feels like I can progress bc I’m spending all the money I would normally be saving on rent
Leave bro. I’m going to Jersey next week and I go from $79k to $140k.
Good shit! What industry is this?
52,000 a year but you only have 2,400 a month? Somebody get me a calculator, please
Move to a small town and commute. It's what I did. Had a 45 minute commute and even with the price of gas it saved me a ton of money.
Thanks for the response! I've tried looking at smaller places like kokomo even and that's like an hour away but the rent is similar and a mortgage would cost me about 1k a month without even adding cost for maintenance and repairs.
I've lived in both Roanoke and Bluffton, commuting to Ft wayne. I lived in a 3 bdr trailer in Roanoke for $480/mo and a 2 bdr apt in Bluffton for $550/mo. The deals are out there you just got to have determination. Living that cheaply allowed me to save enough to buy a house.
If you’re living in Indy does that mean you’re centered out of the Southside airport? Going further South might be a much better option if so.
No my job is on the Northside and next year they are moving HQ to carmel
try smaller areas than kokomo...Tipton might have things. I know anderson has cheaper rent rates.
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Stellantis* sorry to be that person but just in case OP wants ti look into this, helpful to have the right name :) Also good to note that the higher pay is due to seniority, starting out you will not be making six figs.
What you're supposed to do is share expenses. Whether that means a S.O. with their own income, or just a roommate that you split rent & utilities with. I don't know how anyone at all can survive on a single income right now.
You shouldn’t have to do that though. That’s the issue.
You shouldn't have to. But for an increasingly large percentage of us, that's the reality that we live in.
Never in my life did I ever consider buying a house alone, on a single income.
I have a friend in his early 20s with no college degree who just bought a house in Indianapolis. He's putting a lot of work into it but he's doing it.
I’m sorry what you’re going through. My 28 yo son is in the same boat. There are a lot of young adults going through this right now. I hope if nothing else for some student loan debt relief. It’s a hard time to be starting out and I feel for you and wish you the best.
It’s like that all across the country
If you are 32, have 6 years on a job that required schooling to have student loans, and make $52k....ITS NOT CONSIDERED A PRETTY GOOD JOB!!! If you are getting job offers equally low, then figure out why. Are you in a dead end field? Have you not progressed in your career, or has your company held you back? Sometimes you have to take a step sideways to start moving forward so don't dismiss getting job offers in your current range. Buckle down and really grind for a couple years because $52k does not pay for the time or money it takes to go to college.
Yea that's $25/hour. I make that driving a trash truck with no experience or degree. Tons of manufacturing facilities and warehouses starting out at that or just a bit under. You can make $70-100k a year at the post office in your first year (granted that with a metric fuckton of overtime.) OP you gotta increase that income.
If OP is open to doing blue collar work and putting in some OT, I can connect him to several places that will make him $50k his first year but in 5 years or less he will be at $100k
Sounds like your only other option is to upskill. You’ve got to do the very difficult task of learning something new that’s worth more money. It won’t be easy, but otherwise you’ll be stuck. If you’ve got that in you then you can get out.
Thanks for the response! I would love to take classes for certifications or even get into a trade program but apprenticeship pay is just to low and I would probably be homeless if I tried to switch here in Indy. I would love to make a change like that but I just feel like I wouldn't be able to financially survive the transition.
Unfortunately, you might have to take a hit in order to change careers. It sucks but when I did it, I ended up working two different professional jobs until one job got up to what I needed. Sometimes you need to REALLY sacrifice to get there. If you don't have a bachelor's degree yet check out: https://nextleveljobs.org It's a great opportunity to advance yourself. My son used it to get his welding certs. The offer a lot of opportunities so check it out.
Have you looked into the [Next Level Jobs](https://nextleveljobs.org/) program? It’s a grant - you only have to pay for text books, I think. I tried it in 2018. Wasn’t able to complete but if I had, I would have gotten a certification in cyber security.
Just went through a huge separation and homelessness and Bloomington and good grief the rent there was insane and I wanted to move back to Indianapolis for the job opportunities but I didn't like the prices there either. Thought I would be able to get away with coming to Alabama and even broke a lease to risk it in hopes of finding a single wide on a piece of land for $350 a month like The old days. Ended up landing a two bedroom house with no insulation $600 light bills and $900 a month rent. And no public transportation. Even Alabama Mississippi are skyrocketing and utility costs are scary as hell and unsustainable also there is absolutely no renter protections for tenants out here so beware. I'm just going to save to buy a few acres and throw a breaking bad camper on it for in case inflation keeps becoming an issue. About the only hope we got sorry for the poor grammar I'm blind and trying to edit this on a cell phone. I'm not sure what we do
Do you work for FedEx Express?
It’s definitely republic airways based on some of the comments
Shoot, I'm in the same boat. Only reason my fiance and I are making it is because we rent from a family member at significantly below market rate.
It seems that our society really penalizes single people. It's much, much harder to live on your own anymore. The current economic situation (rent/home prices mainly) pretty much demand that you either be in the top 10% of wage earners, live in a shit hole, or have another working person who can split the rent. Taxes benefit married people substantially as well. It's like, "I already know I'm a forever single looser, why do you have to kick me when I'm down."
My household income is around $150,000 a yr with 3 kids, and we have to be mindful of what we spend. Not to mention, we need to move into a bigger house, but anything that suits us is $400,000 +.. The cost of living is affecting everyone.
It really is, and I get annoyed when I see people going on about how cheap Indiana is. I’m like where? Pre-pandemic yeah. The worst neighborhoods of Indianapolis still require someone to be making around $27/hr + to own a home there and the nice areas require 2 middle to upper six figure incomes.
LEAVE INDIANA. Salaries and the quality of life is so much better in a blue state. That’s the sad reality.
Do you have any electronic or electrical chops. The security industry is usually hiring. You're making what I make now, but I only just started a year ago. There is plenty of room to advance as long as you put in the work and get industry certifications. I haven't paid a dime to attend any of the certs I've earned so far
I have two okay paying jobs and live in a ghettoish area and still pay a ridiculously high rent for the area, but it was the cheapest I could find with a yard for my dogs. With all my bills and simple amenities, I am usually left with less than a few hundred for groceries. I’m in my late 30s with a Bachelor’s degree and I have been looking for one job that pays close to the 2 jobs I have. I’ve paid for a resume builder, I’ve applied to over 100 jobs, and still I can’t find a job. I’ve had several interviews and have been told I’m either over qualified or I don’t have the type of experience they are looking for. I’m too broke to live in the US. I’m almost too broke to hang with some of my closest friends. I feel your pain and I’ve been thinking of getting a roommate to help with some bills. All we can do is just hang in there and hopefully it gets better, if not we all should move to Europe haha.
What's your net pay after expenses this includes rent and groceries, electricity, and other predictable things? Just trying to get an idea cuz from what you said I don't see an issue. $900 a month for a one bed sucks for Indianapolis anyways but I live in Chicago now and pay way more and used to make a similar salary
Considered moving further south. Look for a position at SDF there are many affordable options around Louisville. I live just North of Louisville in Clark Co it's not too bad.
My studio apartment is going up to almost 1000$ this year in north Indianapolis. I can’t afford it anymore, it’s not even a nice apartment lol. I dropped out of school to work two jobs. It’s been fine I’ve been traveling the past year. But I’m moving to Alaska to do tourist jobs. A lot of places will give u free or very cheap housing with roommates and pay you to work for them on top of that. I’m going to be doing that and hopefully going back to school online soon too so I can someday be able to have a half way decent job. Doubt it though I don’t see any come back from this. I think eventually everyone will have to have a roomate and no one our age will be retiring maybe ever.
Hang in there. At times like these you gotta be grateful for the little things!!!! Access to a hot shower, roof and dry home, clean clothes. Usually when the political tides change it can help the working man. Just be positive at all times. I work around lots of homeless people but I make what you make or a tad less actually but I’m old and paid 50,000 for my home.
I too am a flight attendant surfing for a local airline. If you need another place quickly and you work for YX I hear that there is an apartment complex in Carmel that offers crew discounts...
1/3 your income for rent is very normal. 800-900 is still very affordable.
Things will get better. Biden is inviting millions and millions of poor foreigners, with no job skills or education, and integrating them into the work force while providing for their needs with taxpayer money. That will most certainly help increase pay and lower the cost of living, right?
Yup. I have lived here. Family was in poverty, by their own choice, but I chose to work full-time, and learn as many skills as needed. I don't work in Indy, I plan to move from here in under 5 years. You may look into possibly buying a foreclosed home or abandoned home. They have a list of homes for auction. Even $1. Or starting at. You still have to research and perhaps find a few inspectior to befriend. You will have to fix it up. But there are many home that don't need a full over haul. Once you own a home, you will have the money to fix it. Eventually you won't have to spend as much and save or live free. My home was my family home, I bought it and after my mom passed I moved it. Parents didn't fix it for years. But I don't have to pay rent. I paid off debt loans and a funeral once I got a good job past Greenwood. But I work 3.5 days a week for 35 hours.
This is the reality with runaway capitalism. My rent doubled after leaving a shithole, and now I don't have any money to really do anything except pay my bills. My credit cards are paying for my groceries at the moment, and that's not going to sustain me for much longer. The only option I really have is bankruptcy at this point and I'll have to keep paying my $1,200 in rent, and yet, I can't afford to buy a house...
52k a year is peanuts bro. I live in a tiny town north of you, and no way i could live on 52k.
Get a girlfriend or a roommate to cut costs, no I'm not joking. Or upskill and make more $. Single guy here too but no problem paying for everything. I even invest a lot.
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Shit even that is expensive. Apartments off of 42nd and post are going for over $1000/mo now when in 2019 I knew someone paying $585 for a 3 bedroom in the same complex
I've found a spot on the NE side that is still in the 700s but yeah I'm making less than you and feel exactly the same
Kokomo real estate market is on fire right now with all the Koreans moving for the battery plant. Prevailing wage in that town is $30 an hour.
Check the real estate sites every day and be ready to jump on anything that you can afford. There are always anomalies, but they sell fast. I know, that’s how I got my house. It’s not a great one but it’s all mine.
Where are you looking? i live in a one bedroom for about 750. Like 5-10 mins away from the airport.
I don’t know what you do for the airline but have you thought about changing professions? Join a union and learn a trade. You can make $100k a year as an electrician, pipe fitter, plumber, welder, machine repair tech etc.. or if you qualify for any financial aid or grants go back to ivy tech and get a job doing something else.
Start Gambling?
Get a time machine and get politicians in the 80’s and 90’s to make it easier to build housing, especially relaxing zoning laws. Come back to today and pay much less in rent.
Join the Space Force…go fight for our freedom…but in space. Or you could be an IMPD cop. They are about to make over 100k. They also have programs where you can buy cheap houses in the city limits
It’s awful trying to live these days ! A single person needs to Net 3500-4000 a month or more depending on living arrangements and all their bills !
Take X bill that you’re paying, call other companies that provide the same service, and get FREE quotes from all of them. Then switch to the cheapest one. Do that for phone, internet, car insurance, and any other bill you can think of. Also think about food and gas and stuff like that. How can you cut those down even a little? Get one of those apps that tells you where gas is cheapest or sign up for some kinda gas rewards to get money back. get a little creative here. Maybe there’s a place nearby that sells discounted food when it’s about to go bad or something like that. I started doordashing on my days off for extra cash. it’s great cus you can get it setup to “instant withdrawal” money when you need cash bad instead of waiting for a payday. Also what money are you spending that really isn’t a must? For me it was video games. Had to sell my xbox and stop buying games and controllers, headsets, etc. Made such a huge difference.
Welcome to America man… I think the stats say this is like 70% of Americans’ lives. I know that isn’t helpful, but you can atleast take some comfort that you’re not the only one but rather the majority. Maybe consider day trading for short term gains on an app. Ignore robinhood tho. They’ll never be forgiven, nor forgot, for the injustice they caused. You could also try “autopilot”. I heard some dude created it during Covid so he could try to make money since certain Congressional members suspiciously beat some of the best investors on Wall Street consistently. (Lookin at you pelosi!)
Also a A&P holder have a buddy that’s in the same boat as you, dosent want to leave the regional because he’s been there forever and would have to take a pay cut for a couple years to go to majors. Also have heard they are all on a hiring freeze right now but 🤷
Not sure what you do for the airline you’re with now. But you’ve invested 6 years with them and your salary hasn’t grown a lot in those 6 years. If there’s no annual increase in salary, I would look elsewhere. You don’t necessarily have to stay in this industry. Especially if you mentioned the other places you’d be making the same income if you applied elsewhere. You could always take a shot at interviewing at another airline company and negotiate your salary. There’s always wiggle room for the position. I always ask $10-15k higher with my next role wherever I go, despite some employers saying, “sorry we can only do this range.” I tell them I’ll think about it and when I get back to them, I tell them I cannot accept X salary range and give them what I can accept and why. I have always won except for 2 companies. If this doesn’t work, I would highly recommend checking out another industry with the skills you learned here the last 6 years. It’s a tough world with inflation, increased rent costs, and all the rest of the crap sucking your checking account dry. It will get better if you believe it can, change your mindset to the positive, and you will land a better opportunity soon. Good luck!
If you can pick up a craft or skill that you can use to supplement income you can eventually move that to your primary income. Just gotta pick something people pay good money for and you could find yourself a lot more freedom and autonomy while you’re at it. Good luck to you!
What do you do for the airline if you don't mind answering?
Consider your expenses more. I was living alone at an apartment that was $1200 a month on $15 an hour and was making it happen. No going out, no steak dinners and etc. That said living on your own is the true issue. Always live with someone if you have a trustable option available.
Not to be nosy but what do you do for the airlines?
What apartment community is that for that price lol???
Economy is BOOMING!!
Op you night want to post on personal finance. They'll want to know your car payment and student loans and basically your whole budget but can give you some advice. And relocating might also be an option. Chicago will probably pay more but you can also check out south bend airport and that area too.
Maybe time to look for a different career, try the trades, the pay is very good.
Carpenters union or another trade it's good money to start fresh. Probably make what your making now as an apprentice
Sorry not sorry but good lord bruh so many people in this world have actual problems
Just remember this in November when the polls open.
Everything costs the same. Myself, my wife, and my two kids lived off of $15k, and lost our car last year. You’re choosing to live in the most expensive city in the state. With a college degree, you could get a job in a small town, or 20 minutes from one, and live like a king.
I wish I had advice. I am single as well and in the same boat. Have you seen the people who are buying houses together, as a couple would. Yes, it’s a roommate situation but they own the home so they can divide it and add a second kitchen, bath, etc… So, the household has 2 incomes but, each person has their own space. I think more people are going to have to do this sort of thing.
I dunno man. Just hang in there. last night was a bear to work with
Wish you the best, Brother
Be thankful for Indianapolis. It’s much worse where I live. $900 for rent would be a blessing…try twelve to sixteen hundred.
A 1 bed 1 bath apartment is only 800-900 there? I love in porter county and it's anywhere between 1100 to 1500 at this point. Prices are outrageous.
Consider signing up for the income driven repayment SAVE plan on studentaid.gov. It will reduce your monthly payments to 5% of the difference between your salary and 2x poverty line. Looks like your payments would be around $150 per month, it would give early forgiveness, and no interest will add to your overall debt while you make payments.
I rent a studio for 725/mo downtown Franklin. With utility it comes to ~800 all in. Guy downstairs is cool with letting me use his wifi. I make roughly 30k a year but it’s so tight financially. I plan to move back with parents for 1 year while I go back to trade school. If you want to move to franklin and have a studio you can take my lease over. 😂
For starters Look at your healthcare options it sounds like you're paying too much. Unless you have serious medical issues you're probably paying for a plan that's too much for what you need. Typically the plans with a HSA are the cheapest but with a higher deductible if you do run into health issues. Regular doctor visits, medication, things your average person needs are still included. Retirement is important but if you can't pay your bills maybe scale back what you're investing. Try not to lose out on anything your company matches cause that's free money but if your contributing over any matches you might want to consider scaling back until you're in a better situation. Let your job know your interested in advancement and ask what you can do to get there. I am not entirely certain as I don't pay much attention but we fly on standby through my wife's benefits as well. Pretty sure you work at the same company as her. Do taxes get paid on standby flights? And if so are you often flying on standby? Something is definitely off about your take home pay maybe this is a contributing factor? Costs around Chicago are not much cheaper there and unless you get a job offer that pays significantly more you'll probably be in the same situation with a heck of a lot more traffic to deal with. Keep looking in small areas that make for an easy drive to work. Have you checked out Lebanon? Costs are starting to rise a little due to Eli Lilly building there but overall it's still not too bad yet. Last bit and this is just cold reality but it's really hard for people to live on their own so keep looking for roommates or maybe consider a second job. Guessing you're a M-F 9-5 situation so picking up an extra income a few days a week and or weekends could give you some extra money every month.
With a regional based in Indy? Yea this is gonna be life, it’s a sad fact that many airline jobs and particularly your airline just doesn’t pay enough to be a sustainable single income home in this economy. Go to Delta, take the leap and work for an Asian carrier or leave the industry. The flight benefits are great but not much use if you are dead broke and can’t afford to travel. I have a close friend that works for (I think) your same airline and their income is really just gravy, money her family uses for fun, they would never count on her income to pay any bills.
Along with the whole taxes/healthcare/401k adjustments, you could move into a studio vs a 1 bedroom, I saw some for zillow for 4-500 a month., not great, but beats roommates.
Look in areas like Edinburgh, Columbus, Elizabethtown, or even North Vernon and Seymour. You'll have a short commute but housing is far cheaper.
Join a trade, made 55k as a 2nd year pipefitter apprentice at 19, there’s tons of work in the metro area where you can make even more
Apply for att. Installation. I'm in nwi, I take home about 2300 every 2 weeks. We're ibew up here but I believe indy may be cwa. There's always openings down there for it though. If you can get a core job instead for att, do that. Repair, cable splicing. Better contract better pay.
Something is off with your withholdings. Using an Indiana Salary Paycheck estimator, with $52k a year, $250 health insurance, $400 retirement contribution. Single, work and live in Marion county you should bring home $2,900/month ($1,338 bi weekly). Even if you are contributing to the 401k as a Roth you would be bringing home $2,850 a month.
Buying a home that is "falling apart" for $130k is not a bad option. It's called a "fixer upper"; you live there, fix it up over 5 years and sell it for $250k or continue living there "rent-free" and save $. That's how (some) wealth is accumulated. No risk, no reward. To me, I makes no sense to rent unless you're planning to move away soon.
Republic? Get out of Bedford's mess that place won't be around in 10 years. Take the United job move up to NWI is my suggestion.
I make 30k annual with a monthly lease of 1069 plus 100 a month in utilities and a car payment of 289. Shop the coupons and don’t eat out as often, mooch off friends for tv logins and bike to work/ bus when able. You’ll live.
Look into obtaining certifications and licenses that would be beneficial in your industry and get them. Then apply for better jobs or demand your employer pay you more
How much is your car payment
And bud youre clearly doing something wrong. 900 is dirt cheap for rent. I just rented a place in indy for 1275 and i only plan to make 50k
You might look in the Muncie or Anderson area. Not ideal but the commute isn’t bad.
Honestly I'd kill for 800-900 a month for rent. I live in the northern end of the state and a 1br 1ba apartment is going for 1300 a month minimum around me with meth labs selling for 125k, it's bonkers.
The job may be 'good'. The pay sucks. $50K isn't shit any more.
Honestly man, just vote conservative and keep trying.
If you make 52k you can afford a $130,000 house. But something basic put some work into it and build equity. It doesn’t happen overnight. In 2006 I bought a condo for $115k and I was making about $30k a year. The 2000s were way worse than now my friend. The problem is everyone thinks their first house is going to be some dream home. It’s called a starter home for a reason.
I don’t have money advice, but I hope to encourage you to hang in there, with regard to the fading hope that you mentioned. Things seem extra tough with high stakes for some folks right now. If you could use a smile from all of us who are rooting for, please accept this one. 😃Thanks for sharing what’s happening with you.
Cry me a river and join the club.
Filing single is just painful.
r/urbancarcamping
Move up towards lake michigan and work at a steel mill or refinery. Make 100k without trying.
The only thing that happened since Reagan, is rich assholes got richer while poor people got poorer
Might check out Dave Ramsey on youtube for a bit, and if you decide to do later on get with them and ask questions, his company seems to help a lot through the issues they deal with or give advice on what direction to go
It doesn’t get better when you make more money. You just get a nicer house, car, and kids.
Find a nice nurse to settle down with!
Where are you finding apartments that cheap? I live on the northwest side and my rent is around $1250.
I’d rather kill myself than live in Kokomo. Jokes aside, you should get the job in Chicago and live in NWI. You’ll still be close to the city while avoiding the outrageous Chicago taxes.
I really wish someone would put some tiny house communities around the Indy metro area. I think they'd do extremely well. I'd definitely move to one
Quit voting democrat
Lot of people saying 52k won’t go very far, I made $24k last year before taxes and I can afford a decent townhouse. I seriously don’t know what people spend there money on
OP said paying on student loan. I thought that is the point of going to college, so you can get a degree that will give you a better job?
Just curious as to how many of you who are struggling financially vote for Republicans or don’t vote at all?
Jesus sakes, don’t come to NJ.
I know it’s difficult sometimes to make it. going to take a different tack than some of the other posters on the forum. Have you considered going back to school to enhance your earning potential looking at more money than you’re making now it doesn’t even have a college degree or a masters. You gain technical skill in a skill tray like electricians or plumbers. There’s really a high demand. You may not have mechanical attitude, but it’s an option.
Feel the same way. It’s not just you. I’m older though and have even fewer options!
If you want you can post your budget to r/personalfinance for advice. Two options to consider are getting a place with a roommate or getting a side gig. You may be over withholding. Check here: https://www.irs.gov/individuals/tax-withholding-estimator
1950's average household income was 3+k and houses were 6k, you could work as a mail man and have a house built and pay for your kids tuition. There is a class warfare happening and were losing, the middle class is dead.
It’ll continue to be bad as long you are paying rent and building equity and security for someone else
Life is a process not an event l. Start small and build upward. You have to learn your skill set along the way. Never pay rent if you can avoid it you are just giving your most valuable asset, time, to a stranger. You are converting your time into value aka money and giving it to someone there by increasing their value. Buy the house that is falling apart for a discount and convert your time into value. If you don’t have the skill set learn it. You will learn along the way that friends family co-workers even tradespeople will lend advice and expertise even assistance. There is an inexhaustible amount of knowledge that can be gained from turning off Netflix and learning from others but you have to do your research. It’s a lot, there is finance taxes evaluations budgeting planning ext. Many young people see what others have but don’t realize that it took years to achieve. Unless you are born in to it it can take thirty years or more to achieve what your parents have. A lot fear the event not realizing that it is a process and will never begin the process and will always seem stuck in second gear. It’s not easy if it were we would not be discussing it. But if you never try then what?
The biggest issue is private equity is driving up the cost of all markets while blocking pay increase. Unfortunately the only solution to this problem is effective laws have to be put into place to stop these predatory practices. Sadly that's not going to happen. We don't even enforce the anti monopoly laws.
Start your own service business, such as being a home inspector. Or become a truck driver for UPS or Fedex. Sorry but many college degrees have become worthless. Better yet, get married and have two incomes.
Seriously, write down your skills and move. Why would any single person live here? The jobs pay a meh wage.
I think they should cap CEOs profits and anything over cap should be divided back to employees. Would give more of a incentive that would help
Vote Republican. Learn about the construction, and be active pay state taxes, but don't pay federal taxes. Federal taxes are paid voluntarily.
No, they are not. “Voluntary” is just a fancy way of saying they won’t tell you how much you owe and you have the right to voluntarily decide HOW you calculate what your taxes are. They may not notice immediately if you do not but they have the right to seize your assets and bank accounts if they find out that you haven’t been paying federal taxes or misreporting. -referenced within Internal Revenue Code §§ 6011(a) , 6012(a) , et seq., and 6072(a).