Is it possible to save money, making around $120K ~ $130K in the US in Sunnyvale, California as a software engineer?
He’s not lying.You need to make $100,000 just to live decently.Not great. Just decent.I live in San Jose (less than 10 miles from Sunnyvale). The median house value in San Jose is $1.2 Million and this is what that kinda money gets you:A very modest one story house less than 1,700 square feet.https://www.redfin.com/CA/San-Jo...In San Francisco, it’s even worse:$1.2 Million for 1,275 square feet!https://www.redfin.com/CA/San-Fr...For those that don’t make six figures, you have to room with 3–4 other people just to afford an average house.Look at places like East Side San Jose. The amount of single family households with 2 to 3 and sometimes even 4 or 5 families living in one house is staggering! It’s the only way families (predominantly Latino) who are landscaping/construction/labor workers can afford to live in the Silicon Valley.Drive down any street in any neighborhood in East San Jose and you’ll notice something peculiar not found in any other suburb - no parking. When you have multiple families living under the same roof, you get 3–5 cars per house. There are cars taking up every single spot along the sidewalk and people have to get creative and park cars on their lawn. It’s so bad, that people put out cones to block off parking so neighbors don’t park in their driveway!Don’t believe me? Here’s some pics I took while I was around East Side San Jose a couple weeks ago. And I must reemphasize, this is the norm in East Side San Jose, not the exception:
Is it possible to save money even if I have a low salary job?
Yes and its BIG YES, you can save money even when you living on pay check to pay check.When i started my career in Sales straight out of college i landed a very low salary job.I was paying 35% of salary towards house rent that too while sharing studio apartment with 2 others house mates. I was living in Big Metro where Food, travel, other living expenses were very expensive, infact my salary was so low that my only indulgence was eating self prepared simple Chicken Curry & Rice + 2 Beers (750 ML) once in a fortnight. and there was no scope of saving at all, on top of that very year recession hit the industry i was working in so find a well paying job was very difficult.Frequently I was borrowing money from my father for first one year while promising my father that i will return it as soon as i change my job.After 1st year into my of job i decided that no matter what i have to save money and i forced my self into saving. Target was very low, just 5% of salary should go towards saving on a auto debit mode and before i realized my saving amount reached 2 months of disposable salary which is considerable amount, this amount was good enough to buy me a car and increased my social and general status considerablySo here is my advise no matter what is your salary, 5–10% of your salary amount should get auto debited into savings instrument (mutual funds are best that way but many alternatives exist) on the pay day. This sustained savings can free you from any kind of debit and raise self esteem, bring social and economic benefits its a general feel good factor when you don’'t worry about you finances.
How is a proper way to save money for your future?
1. One of the hardest things about handling money is balancing short-term needs and wants with long-term needs and wants. How can you save money in an interest-bearing account when you need every penny to pay for school loans, car loans, rent, and utilities? Write one paragraph that explains why thinking about the future might be important even when you're having a hard time managing the present. (10 points: 5 points for describing the power of the rule of 72 and the rule of 69 in planning for the future; 5 points for explaining why retirement savings might be important)
What are some easy ways to save money?
hey man, it is kinda easy to save money if you dont have to burn through it on bills. fortunatley i know how to save and that is the only way that i am staying afloat right now. after getting layed off 2 months ago i am depending on my savings to keep my head above water. well for starters, take your lunch and snacks to work with you. get you a good sized lunch bag and pack you a luch. instead of getting the coca cola brand or pepsi brand drinks get store brand drinks get a big variety pack of tater chips. make you a sandwich or something and take it all with you. when i was working i figured it up and when i started doing this i saved my self about 100 dollars a month. now the key is to set a goal for your self. everyone needs atleast 3 months of savings. that covers all your bills. figure up how much you need to survive for 3 months. rent, electic, water, insurance what ever. and you also need an entertainment fund. figure out how much you need to survive (not have a blast) survive from week to week. take what you have left and put 75 percent into your savings and the other 25 perent in your entertainment fund. the trick is to only use what is in the entertainment fund for entertainment. dont dip into the emergency fund to have fun off of. just make a goal and stick to the goal. oh yea, before you start putting away for your emergency fun gather all your bills, ones that are not like electric rent, gather any out standing medical bills, car payment, what every and take what you would put into your emergency fun and knock out these bills. you knock out those bills and then start saving. if you do this (and lord forbid you loose your job) all these little bills will be payed off and you will have 3 months of savings that you can depend on and still have a little in your entertainment fund if you need it. man i know that i rambled on and on but trust me right now now one can afford to throw away money (well some can) save every penny that you can put it away for your future. right now i am living off my savings and it is running to a quick end and i hope that i have a job before then but if i didnt have these savings i probably would not still have a roof over my head or food on the table for my family. good luck with your savings
How can you save money while renting a new car in Canada?
How long are you renting? If you are a tourist renting a car for a week, then renting from a company that isn’t at the airport will save you money. You can look online and see what is available and what the cost is. Often some companies give discounts on certain vehicles, and you can get a lower rate if you rent for a week rather than for a few days.Some websites will give you a discount, especially if you rent the car in combination with buying hotel and airfare. Some credit cards give discounts for using certain car rental companies. Some memberships give you a discount on car rental as well.If you want to rent for a longer time, there are companies that specialize in this as well. An online search is the best way to find this out.You ask about renting a new car, and I’m wondering if you really want to know about leasing a car, which lets you drive a new car for a year or more. Usually you arrange this with a new car dealer. Pay attention to the terms, such as mileage limitations. Make sure the amount of miles you are allowed to drive aligns with the amount of driving you plan to do. If you drive more miles than the lease allows, you may have to pay a penalty fee.
How much money can you save in the army?
The other answers on here are crap. Yes you can save money by living on base housing. The people that cannot save money are the ones that live outside their means. If your wife has a decent job, then you should have no problem saving money. On base there is child daycare, comissary, PX, and other ways to save money. If so many married people in the army lived pay check to pay check there would be fewer people in the Army. However, if your wife does not work, then I agree that it would be very difficult to save money as a new soldier.
How to save money on section-8?
I am a little confused: - You said if you try to save you would have to help towards the rent which will not let you get anywhere and be stuck at home. You say you don't save money because Section 8 locks you in. However, in fact, Section 8 doesn't tell you to spend all of your money, so that you can get away with not paying a couple of extra dollars in rent. If you did save some money, you are not going to have to pay hundreds of dollars or something toward Section 8. I honestly think you have used this as an excuse to continue living with your mom and not really setting your own goals as a 25 year old adult. Just by saving $50 a month, you could have had $600 in a year. And that isn't even how much you probably spend on your cell phone bill. Double that amount, you could have had $1200, and even if you had to pay towards your rent........some savings is better than nothing at all at the end of the day.
My total monthly salary is 2k, will I be able to save money in Vancouver, Canada after paying all of my expenses?
It will be very difficult to save money after all expenses in the Vancouver area on a salary of $2,000 per month, but I think it is possible. If you rent in Surrey and have a room mate or two, you could get your rent down to something like $700–800/month. If you make all your meals at home, bringing your lunch with you to work each day, you can eat well for about $500/month. Public transportation to and from work might cost $200/month, but maybe you could find other alternatives. If you’re careful, clothing and sundries might eat up another $200/month. Taxes and other payroll deductions and MSP will probably be in the neighbourhood of $200/month. So, being very frugal and disciplined, you might be able to save something like $100/month.Everything above is debatable and based on back of the envelope numbers. On $2,000 per month pretax salary, it is barely possible to survive in the Vancouver area in 2017. If you are in this situation, saving money is not going to make a big improvement in your future life. You won’t be able to save enough to make much of a difference and investment returns are too low to grow a tiny nest egg into something that will matter. You would be much better off to focus on how you can make yourself more valuable.You don’t need a university education to make yourself more valuable in the workforce. There are plenty of trade schools and community colleges in the Vancouver area. BCIT is probably the best, but Kwantlen College also has good programs. These schools are full of people learning things that will earn them salaries of more than $3,000/month, sometimes much more. There is government assistance available to help pay tuition, check into that.There is also the option of taking on a second job. Over the 40 years I operated a building maintenance business in the Vancouver area, I worked over 70 hours/week most of the time. I hired many people for part time evening work that had full time jobs during the day. I’m not necessarily recommending this, because, looking back, working too many hours per week seriously depletes you in other parts of your life. But if you need to do this to raise funds for something important, like a better education, it’s a good option.