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View Full Version : Supporting two people on 70k+?



lagerbreath
May 20th, 2008, 10:08 AM
Hi guys,

I posted a few days ago asking about the area of Electchester/Fresh Meadows in Queens, thanks for your responses. The next question I have is.. will $70k (without overtime) enough to support two people in the boroughs of NYC? My fioncee is an electrician and i'm disabled and don't work and she's convinced me that her salary will be more than enough to support us both once i move over there from the UK. The apartment we get from the electricians union is only $700 per month (inc. utilities).

So is she right? Can we be comfortable and afford to have a future and move to nicer apartments in the future on $70+K ?

Thanks

kliq6
May 20th, 2008, 10:47 AM
in NYC thats a very tough salary to honestly get by in. I make over 100,000 per and its difficult with me and my wife, forget about any children we may have soon

Ninjahedge
May 21st, 2008, 01:52 PM
It's tough, but not impossible. You would have to do things like look for sales at Stop n' Shop (supermarket) and find other ways to make the most of what you have.

No cable TV, internet, long distance calling and $70K can feed the both of you when you only have $700 rent, but as soon as you start going to the bar on Friday, or eating out once a week, the money CAN get tight.

So yes, you CAN live together on $70K, but you will find it hard to do much. (PS, there is a lot of free things you can do, as with anywhere. I hope you know what I am saying, you life will be spartian, but not destitute)

lagerbreath
May 22nd, 2008, 12:48 PM
Well i got my figures a little wrong, she's an apprentice electrician so once she finishes her apprentiship she'll earn $90k before taxes and putting money into a 401K so we'll end up with $60k after all that. So after rent/utilities we'll have 51k for food and toher stuff.

philvia
May 25th, 2008, 02:36 PM
i'm just curious but this is a question for the 2 new yorkers who posted above that it'll be a tight budget^^^

what would possibly consume his 51k a year? at most mta transit is a couple thousand and i cant see them spending $50k on food/entertainment.

lofter1
May 25th, 2008, 06:08 PM
... after rent/utilities we'll have 51k for food and toher stuff.

If you mean that taxes / rent / utilities have been paid, leaving you with $51K / year then you should not have a problem. (Also assuming that the electricians union has a good medical plan and that med ins. is included in the pay package.)

Best bet for you both would be to take 1/4 + of that $51K and put it away --

Save save save.

lagerbreath
May 27th, 2008, 10:40 AM
Thanks for the replies,

Yeah i'm assured the med plans and things like that are great, I had to make sure I'd be covered as her husband cause it'd be a bit of a shock moving from the UK with free health care to having to pay for it all over there.

Our plan is for the first 6 months or so to spend all we can on making the apartment as nice as we'd like it and after that save for the future and visiting my family back here in the UK.

I do question the people who said it'd be tough on 51k in Queens after taxes/rent/utilities covered but it does seem like its gonna be fine :)