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Forum » Two people making $15/hr can live well in America.
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Thread: Two people making $15/hr can live well in America.

post 1704312281 07-29-2024, 03:47 PM
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Two people making $15/hr can live well in America.

Around the Charlotte metro you can buy a 2br condo in a decent/safe area for around $200k.

Put $40k down and they would have around a $1,100 payment.

Their income would be around $5,000/month.

That leaves $3,900 for other stuff.
post 1704312451 07-29-2024, 03:50 PM
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Agreed but doubt they can have kids without significant support from their family/community

Also, where are they going to get a $40k down payment when their combined gross income is $60k? They aren't going to be saving a lot on $60k gross.
post 1704312511 07-29-2024, 03:51 PM
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Originally Posted By JackyChin⏩
Agreed but doubt they can have kids without significant support from their family/community
plenty of couples around here making similar money with kids though. family/community SHOULD be involved with the raising of children though.
post 1704312531 07-29-2024, 03:51 PM
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With no kids sure.. also i doubt they have 40k between the both of them for that down payment
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post 1704312551 07-29-2024, 03:52 PM
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Originally Posted By eddiehaskell⏩
Around the Charlotte metro you can buy a 2br condo in a decent/safe area for around $200k.

Put $40k down and they would have around a $1,100 payment.

Their income would be around $5,000/month.

That leaves $3,900 for other stuff.
Originally Posted By eddiehaskell⏩
the first home i ever bought which i still have has went up x5 in value.
How does this make any sense to you?

You’re lying about something here.
post 1704312571 07-29-2024, 03:52 PM
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Originally Posted By eddiehaskell⏩
plenty of couples around here making similar money with kids though. family/community SHOULD be involved with the raising of children though.
But they aren't

From what I've seen
post 1704312591 07-29-2024, 03:52 PM
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Originally Posted By p7nk⏩
With no kids sure.. also i doubt they have 40k between the both of them for that down payment
no reason they couldn't have a child. first 3-4 yes would be the hardest but then the child will start school.
post 1704312631 07-29-2024, 03:53 PM
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Originally Posted By JackyChin⏩
But they aren't

From what I've seen
the idea of people having no family involved with their children seems so foreign to me.
post 1704312641 07-29-2024, 03:53 PM
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Originally Posted By eddiehaskell⏩
no reason they couldn't have a child. first 3-4 yes would be the hardest but then the child will start school.
Health insurance

Day care

Food for kid

Birth alone costs 5 figures
post 1704312741 07-29-2024, 03:55 PM
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Originally Posted By JackyChin⏩
Health insurance

Day care

Food for kid

Birth alone costs 5 figures
they would likely qualify for all kinds of subsidies given the the income. food doesn't cost much for a kid.
post 1704312751 07-29-2024, 03:55 PM
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15 bucks an hour is 5k a month - after taxes, that's more like 4k a month. 200K house is still about a 1600 payment. You're talking about 2400 left to pay probably 2 cars, 2 gas payments, utilities, groceries. There's nothing left there
post 1704312811 07-29-2024, 03:56 PM
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Originally Posted By eddiehaskell⏩
they would likely qualify for all kinds of subsidies given the the income. food doesn't cost much for a kid.
60k is too much household income to get subsidies
post 1704312931 07-29-2024, 03:59 PM
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Originally Posted By eddiehaskell⏩
no reason they couldn't have a child. first 3-4 yes would be the hardest but then the child will start school.
You have no idea how expensive baby diapers and baby food is. not to mention the girl will take time off work to care for the baby. so your combined income just got smaller as well
Originally Posted By Orion1349⏩
15 bucks an hour is 5k a month - after taxes, that's more like 4k a month. 200K house is still about a 1600 payment. You're talking about 2400 left to pay probably 2 cars, 2 gas payments, utilities, groceries. There's nothing left there
Maths not mathing. do you have any idea how many hours you have to work to earn 5k at 15 an hour?
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post 1704312961 07-29-2024, 04:00 PM
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Originally Posted By Orion1349⏩
15 bucks an hour is 5k a month - after taxes, that's more like 4k a month. 200K house is still about a 1600 payment. You're talking about 2400 left to pay probably 2 cars, 2 gas payments, utilities, groceries. There's nothing left there
200kbhouse with 40k down is $1100/month. no need for brand new cars...drive a 2010 corolla. utilities maybe $300/month. shop at aldi for groceries.
post 1704313021 07-29-2024, 04:01 PM
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Originally Posted By eddiehaskell⏩
Around the Charlotte metro you can buy a 2br condo in a decent/safe area for around $200k.

Put $40k down and they would have around a $1,100 payment.

Their income would be around $5,000/month.

That leaves $3,900 for other stuff.
No taxes huh. Lol.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1704313031 07-29-2024, 04:01 PM
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Originally Posted By p7nk⏩
You have no idea how expensive baby diapers and baby food is. not to mention the girl will take time off work to care for the baby. so your combined income just got smaller as well



Maths not mathing. do you have any idea how many hours you have to work to earn 5k at 15 an hour?
in years where income goes down a family of 3 definitely qualifies for free health insurance and other subsidies -- including food.
post 1704313051 07-29-2024, 04:02 PM
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Originally Posted By Godfrd824⏩
No taxes huh. Lol.
a family of 3 making $15/hr isn't paying much tax.
post 1704313311 07-29-2024, 04:07 PM
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Originally Posted By eddiehaskell⏩
a family of 3 making $15/hr isn't paying much tax.
You said two $15/h incomes. That's too much for welfare or WIC. They may get $3-4k during tax season, but they'll only be seeing $1.8k a month after taxes for each income.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1704313421 07-29-2024, 04:10 PM
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Originally Posted By Godfrd824⏩
You said two $15/h incomes. That's too much for welfare or WIC. They may get $3-4k during tax season, but they'll only be seeing $1.8k a month after taxes for each income.
without the kid at over $4k/month income and a $1100 house payment they easily make while income is surely going up...i hear of newly hired people making $20/hr at walmart after not too long. with no kid involved nothing to stop them from picking up extra hours either.
post 1704313641 07-29-2024, 04:13 PM
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Originally Posted By eddiehaskell⏩
200kbhouse with 40k down is $1100/month. no need for brand new cars...drive a 2010 corolla. utilities maybe $300/month. shop at aldi for groceries.
no it's not, it's 1500 a month. You're not including insurance, property taxes or PMI
post 1704313711 07-29-2024, 04:14 PM
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OP is such a - I’m going to term it now - grief troll.

No way anything he’s posting here is true. You’re just a POS if you don’t seem as “happy” as him.
post 1704313721 07-29-2024, 04:14 PM
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Originally Posted By eddiehaskell⏩
Around the Charlotte metro you can buy a 2br condo in a decent/safe area for around $200k.

Put $40k down and they would have around a $1,100 payment.

Their income would be around $5,000/month.

That leaves $3,900 for other stuff.
Uhhhhhhh who was:
Taxes (state and federal)
retirement
healthcare
condo fees
real estate tax
insurance

Now we can talk about what they have left to live assuming they own their cars outright as well and have no kids to put through school.
post 1704313761 07-29-2024, 04:16 PM
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You think two people making 15/hr have 40k saved?

Two people making that much money are living check to check probably with more debt than savings.
post 1704313771 07-29-2024, 04:16 PM
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Originally Posted By Orion1349⏩
no it's not, it's 1500 a month. You're not including insurance, property taxes or PMI
no pmi...around $120/month in property tax and about $60 for home insurance.
post 1704313851 07-29-2024, 04:17 PM
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They have affordable housing in my town for people who make $15 or less. Some of these apartments are brand new and nice AF. 2 bedroom for $680, 3 bedroom for $750. Those same apartments would cost 1600 - 1800
post 1704313871 07-29-2024, 04:18 PM
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Originally Posted By freeburn⏩
You think two people making 15/hr have 40k saved?

Two people making that much money are living check to check probably with more debt than savings.
if they are young and had a plan to get married/buy a home -- sure, each of them could save up $20k in the years before marriage/home buying.
post 1704313971 07-29-2024, 04:20 PM
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Originally Posted By AlfBundy⏩
They have affordable housing in my town for people who make $15 or less. Some of these apartments are brand new and nice AF. 2 bedroom for $680, 3 bedroom for $750. Those same apartments would cost 1600 - 1800
yeah they have some stuff like that here too. they just opened a waitlist for a mill they turned into nice apartments in the small town i'm from...think the cap on income is something like $60k for a 1br.
post 1704314001 07-29-2024, 04:20 PM
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Live well??

No 401k
Bare minimum health insurance
No emergency fund
No investments
Transportation is either beater, bus, or bicycle.
And any savings you do have will be wiped out with one small emergency

$60k is below average, you're just barely making it. $80k is the new minimum to be OK.
post 1704314121 07-29-2024, 04:24 PM
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Originally Posted By donblaximus⏩
Uhhhhhhh who was:
Taxes (state and federal)
retirement
healthcare
condo fees
real estate tax
insurance

Now we can talk about what they have left to live assuming they own their cars outright as well and have no kids to put through school.
Yep,

This calculator is pretty accurate. $15/hr breaks down to $2000/month after all taxes.

https://www.talent.com/tax-calculato...%20per%20month.
post 1704314231 07-29-2024, 04:25 PM
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Originally Posted By MikeLowrrrey⏩
Live well?

No 401k
Bare minimum health insurance
No emergency fund
No investments
Transportation is either beater, bus, or bicycle.
And any savings you do have will be wiped out with one small emergency

$60k is below average, you're just barely making it. $80k is the new minimum to be OK.
We are talking a couple starting out here working the lowest paying jobs that will have a house, car, full bellies, internet, cell phones, etc -- you expect them to instantly have a large 401k, premium healthcare, large emergency fund, investments and nice cars? that ain't how it works.
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