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Reply to "How do people live on 160k?"
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[quote=Anonymous][quote=Anonymous]$6500 monthly take home $2300 rent, phone, internet $1000 medical insurance for 3 people $800 food $400 student loans $700 car payment, insurance, gas $1300 for all else I spent only $500 in all else category in February. I need to lower food to $600 and the car will be paid off in 2025. [/quote] And when the car is paid off, keep saving the $300+/month car payment. That way, when the car is 10+ years old and you actually need a new one, you will be able to pay cash (between savings and selling the old car), so you won't need a car payment in the future. Also, your insurance will drop with a 6-8+ yo car. [/quote]
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