Is $24k after tax a year a lot? I don’t need to pay for rent, electricity/water bills. So I get 2k a month and I normally use $500/600 towards other bills, I spend a lot on gas so let’s say $320 on gas. I’m left with half of my salary. Around 1k. How would you guys spend that money? How much should I put towards my ISA account? Living costs for me are mainly just food and transport. I rarely go shopping.

Is my salary decent? I want to one day be able to save money.

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pf_burner_acct t1_jegtdlr wrote on March 31, 2023 at 10:27 PM

If you're in the US, your salary sucks. But that's an entry level job for you.

If you're a minor living at home, good work. Keep it up.

Hauzuki t1_jegw0ja wrote on March 31, 2023 at 10:46 PM

at entry level, this would be very low

Werewolfdad t1_jegwcv9 wrote on March 31, 2023 at 10:49 PM

No. Under $30k is poverty in most parts of the country.

You can make more working fast food in a lot of MSAs.

Alphadripp t1_jegzu08 wrote on March 31, 2023 at 11:15 PM

Not bad if you only have $600 expenses per month. Better than someone with 60K/year who has a mortgage, car payment and student loan payments!

apathyduck t1_jeh2aai wrote on March 31, 2023 at 11:34 PM

I worked for a wealthy guy who told me a secret I've never forgotten: it's not how much you make, it's how much you keep.

If $24k is allowing you to save $1k/mo in you current situation, you're doing better than people who make $150k/yr and live paycheck to paycheck. Just make sure you're building a skillset in the meantime that will allow you to bring in more money when your monthly expenses/needs go up.

StonksSkyhigh t1_jeh02cl wrote on March 31, 2023 at 11:17 PM

Depends which country you live on. In like the Netherlands this is minimum income for people. But you dont have to participate in some retirement funds, your boss is doing that for you.

Countries in like East Europe is 2k a month realy good. Just depends on the place where you live.

For USA its horrible.

[deleted] t1_jegyt2n wrote on March 31, 2023 at 11:07 PM

[removed]

Moochefmoo t1_jegwm7e wrote on March 31, 2023 at 10:51 PM

24k after tax is horrible. I’m 23, live on my own in a 1 bed apt - make $17.15 an hour and still made $36k this past year according to my W2 which I have no idea how. Doesn’t make sense. I work a lot of overtime. My bills are $1200-1400 a month and I don’t have car insurance. I make more than 2k after taxes a month working a basic job. I love my job but if I had no family- I would have nothing to eat.

Don’t be like me. Save for bills. Don’t settle. The highlight of my year will be a vacation I would have almost saved 18 months for. Just cause you don’t have rent right now, don’t be comfortable in that salary. If you have no kids-you have no social safety help. And yes, I have degree but my job doesn’t require anything. So especially if you have a certain skill set, 24k is not good enough.

kcrab91 t1_jeh2js5 wrote on March 31, 2023 at 11:36 PM

It largely depends where they live which is left out of the post.