Single person COL

[Anonymous]

Would $80k be enough for a single lady to live a comfortable life (and save a little )in DC with $1100 rent (utilities included), phone bill covered by work and car already paid off?

[Anonymous]

Anonymous wrote:Would $80k be enough for a single lady to live a comfortable life (and save a little )in DC with $1100 rent (utilities included), phone bill covered by work and car already paid off?

There wouldn't be room for much else, IMO. Any student loans? It's doable, but not enjoyable with all of the possible activities in this area.

[Anonymous]

No loans or debt.

[Anonymous]

Maybe, but you would be renting a room for $1100 or else living in a horrible area.

[Anonymous]

Anonymous wrote:Would $80k be enough for a single lady to live a comfortable life (and save a little )in DC with $1100 rent (utilities included), phone bill covered by work and car already paid off?

80K - after taxes? Yes. If you have some basic cooking skills, you can live very comfortably on this as well as save some.

[Anonymous]

Anonymous wrote:Maybe, but you would be renting a room for $1100 or else living in a horrible area.

Its a luxury studio in a safe high rise with subsidized rent because overseas owner had bad experiences with tenants and wants to a house sitter until he moves back to DC in 4-6 years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Maybe, but you would be renting a room for $1100 or else living in a horrible area.

Its a luxury studio in a safe high rise with subsidized rent because overseas owner had bad experiences with tenants and wants to a house sitter until he moves back to DC in 4-6 years.

Wonderful. You are set! Make a budget now so you know your fixed costs.

Here is a sample budget -

Rent and utilities - $1,100
Groceries - $600
Gas, parking and insurance - $500
Medical -$100
Clothes - $300
Gym - $50
Socializing - $450
Beauty salon - $200
Once a month house cleaner - $200
------------------------------------------
= $3,500
----------

So, after this amount, everything is gravy and you should save some for emergency fund and invest some in an index fund.

[Anonymous]

Travel?

[Anonymous]

Max out your 401 plan for 30 years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe, but you would be renting a room for $1100 or else living in a horrible area.

Its a luxury studio in a safe high rise with subsidized rent because overseas owner had bad experiences with tenants and wants to a house sitter until he moves back to DC in 4-6 years.

Wonderful. You are set! Make a budget now so you know your fixed costs.

Here is a sample budget -

Rent and utilities - $1,100
Groceries - $600
Gas, parking and insurance - $500
Medical -$100
Clothes - $300
Gym - $50
Socializing - $450
Beauty salon - $200
Once a month house cleaner - $200
------------------------------------------
= $3,500
----------

So, after this amount, everything is gravy and you should save some for emergency fund and invest some in an index fund.

$300 per month on clothes? Lol, women are insane

[Anonymous]

Not sure why some strange person gave you a budget but let’s try this:

After rent, your next chunk should be SAVINGS! Aim for 10-15% of gross pay and put it where you cannot touch it. Painful at first but you will sleep better at night.

After other necessary expenses like food, utilities, insurance, and car, learn to distinguish between a NEED and a WANT. Nothing wrong with a splurge like a big trip or fancy shoes or a Michelin meal - just prioritize what is the most important to you.

Good luck!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe, but you would be renting a room for $1100 or else living in a horrible area.

Its a luxury studio in a safe high rise with subsidized rent because overseas owner had bad experiences with tenants and wants to a house sitter until he moves back to DC in 4-6 years.

Wonderful. You are set! Make a budget now so you know your fixed costs.

Here is a sample budget -

Rent and utilities - $1,100
Groceries - $600
Gas, parking and insurance - $500
Medical -$100
Clothes - $300
Gym - $50
Socializing - $450
Beauty salon - $200
Once a month house cleaner - $200
------------------------------------------
= $3,500
----------

So, after this amount, everything is gravy and you should save some for emergency fund and invest some in an index fund.

This list is ridiculous. I lived in DC as a single lady and paid 1300 in rent. I did not pay $300 a month on clothes (honestly I might have spent a total of 500 a year on clothes), no house cleaner (for a studio apartment?), no gym (run outside), no parking, no beauty salon (once every three months and not 200).