Living in Boston On $60k A Year
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- เผยแพร่เมื่อ 22 ก.ค. 2024
- Hello Everyone! No, this isn’t part of the Millennial Money series but I did want to share with you how I break down my $60k/year salary here in Boston. I know the price of living has gone up due to inflation and so I wanted this video to best reflect that change and how I manage.
Timestamps:
0:00 Intro
0:45 Rent
1:27 Amenities Included in Rent
2:52 Utilities
3:45 Food
5:50 Transportation
6:38 Savings
7:22 Investments
I really don’t know how this lady does it… but my food bill alone is $250 a week. And $2400 for 500 sqft is painful. But insightful video. I think in Boston on your own you need at least $130K gross minimum.
Thanks for this video. Very insightful.
Thank you I'm glad you thought so!
Thanks for the video!! 60k before taxes or after? :)
Rats are all over Boston, not just the North End. Back Bay is the same or worse. You could find cheaper. You can forgo in-unit laundry and a gym.
Im about to move to Boston and was worried about surviving on 130k a year 😅. This does make me feel better though that if you can do it, I Can do It.
Wow congrats on your future move to Boston! Yes don't worry you are going to be ok
No kids? You’ll survive ;)
Thank you for sharing, your videos have been helpful.
Thank you I'm glad they've been helpful!
May ask what do you do career wise?
Omg im so nervous if i did live in boston and especially since I wanna go to BS or Harvard to college. Im nervous if its gonna be like super expensive, but excited though if i do. Is there any tips you could give me for me living in a college in boston...??
There are a ton of colleges in the Boston area! If you don't have access to on campus housing, I highly recommend looking into off-campus living as soon as possible because finding housing can be tough. The 9/1 move in date is the most popular move in date
Im moving to Boston, i will have a 65k per year and going with my wife and our 8 years old son. Wich suburbs do you recommend me to live in ? I will work at back bay
Hello! This all depends on your family budget, what your needs are and what your desired commute time will be. Please note I am not a realtor and this is just my own personal opinion. Some suburbs I've heard good things about are Brookline, Newton, East Boston, and more! Since I don't reside in those areas, I can't provide any personal experience on what it's like to live there. I hopes this helps!
You can try looking for Malden area. 5 miles from Boston. 25 minute Orange line train from Malden train station to Back bay station. Lot of suburbs that are cheaper but will also extend your commuting in. You can find a decent 2 bed 2 bath apartment for around 2500$. There are a lot of luxury apartments are very expensive. But you will find lot of accommodation options for cheaper.
I can answer your question (if not too late). Will you be driving into Back Bay or use public transportation? THAT is a big question. Some of the suburbs have better access to transportation than others and still it depends on where in the neighborhood you live for proximity.
Next is to decide what is the longest commute you will accept? From there you can start to narrow down. Some towns are generally (though not exclusively) less or more expensive than others.
Do you have any website where I can explore some cheap accommodation rent rates around Suffolk university? Please help
I make 50k gross pay and I can picture myself living closer to Boston if I didn’t have a child 😭 I have a car but don’t use it unless visiting family once or twice a month. Because I walk to work and my kid to school.
How is it possible to qualify for $2,100 in rent on a $50k income? And even now how can you afford $2,400 in rent on $60k? That’s over 70% of your take home pay on rent alone… How did they let you qualify for that?
Hello! During the time I moved into my apartment, it was during the peak of COVID when not too many people were moving in and when landlords were pretty much desperate to have people so I was in a really lucky position at the time to get approved. I also moved in during the off season which helped. I certainly know that this is not the norm nowadays and the rent to income ratio that I do is very high that not many people are in the position to do. As I explained, in my video I don't have any loans and have saved for a while which put me in the position to be able to do that. Again, I know not everyone is in the same circumstance but I figured its important to be transparent about my situation :)
You have 0 savings 💀
Hi Chris! I actually do have savings if you take a look near the end where I talk about savings and investments 😊 I may not be able to contribute as much as I like but it exists!