70 k/a salary: alot of money?

[Merlot]

Gents,

900$/week net sounds good to me. at 500/week net, I'm living paycheck to paycheck. And if I had no dependent, AND netting 900/week my life would be all gravy all the time

Earning $70k per year doesn't give you a fortune, but the median family income in the U.S. was $51k in 2012. For a single guy with no kids like me whose total incomes taxes for all areas leaves me 72% net of my income, roughly $950 per week based on $70k I'm theoretically living very comfortably if I'm smart to avoid excesses in spending levels, and not buy into having to have the latest, priciest, showiest things...or get carried away with a partying life or hot escorts.

If you make smart choices $70k for a single person is a pretty good place to be.

Good luck,

Merlot

 

[rumpleforeskiin]

No reason to cut out the Wok Cafe, a meal or two, or even three a week there is not going to send you into bankruptcy.

No, but it might kill him. I've only eaten there once, and that was more than enough. One of the two worst Chinese restos I've eaten at in this fair city.

 

[EagerBeaver]

No, but it might kill him. I've only eaten there once, and that was more than enough. One of the two worst Chinese restos I've eaten at in this fair city.

I don't think you got my post. He eats there, or he did in the past.

 

[lgna69xxx]

Dont tell that to SK!

No, but it might kill him. I've only eaten there once, and that was more than enough. One of the two worst Chinese restos I've eaten at in this fair city.

 

[CLOUD 500]

Seventy thousand dollar per year is really not that much. When you consider that everyone wants the big American dream... the big house, the car, name brand clothes, food, going out, then hobbying, etc.. In this decade I would say once you hit a six figure salary that is when you begin to get comfortable. Anything below sixty thousand a year is peanuts.

 

[MtlNewbie]

70k will let you live a very comfortable lifestyle in montreal, especially if you're willing to live in a studio or else a one bedroom not directly downtown. I read in another thread that 50k in montreal is more than enough and I agree with that. You won't save 1k per month and you also won't drive a bmw but it'll still be a good living. The key point is that we're talking about Montreal. I'm from Calgary and 50k won't get you anywhere there but the average joe there makes 50k which isn't the case here. The groceries are cheaper and the rent is way cheaper. My parents in Calgary can increase rent as much as they want, whenever they want I'm pretty sure.

 

[MtlNewbie]

also the post saying 10k a year on a car is sort of ridiculous for the average montrealer. I have a car and every time I drive it in the city, I regret it because it takes longer than public transportation. I have a car and a metro pass. Even with gas and everything you'd be making some pretty decent payments for 10k a year on a car. Seeing that OP mentioned getting a studio, he's probably not going to lease a bmw or land rover. It's not like you have a car and it's 10k a year or you don't have a car. I have a car and it costs me for sure less than 2.5k a year including gas.

 

[CLOUD 500]

Living in a studio is makes no sense. You pay rent each month and it goes down the drain. Get a house money goes towards owning it. Rent out your basement and get revenue. Price goes up sell and make money. There is a lot more place in a house. As for a car average cost of owning a vehicle is anywhere from $7000 to $9000 a year. We are talking a new car here that is either being financed or leased including insurance and gas.

 

[Sol Tee Nutz]

I have a car and it costs me for sure less than 2.5k a year including gas.

These are my car costs

gas is probably $10.00 per day = $3,560.00
Insurance + plates = 550.00
car is paid for but if not = $ 300.00 $3,600.00
Oil changes = $80.00 X 4 = $320.00
1 set of tires per/year = $800.00
Some kind of maintenance = $600.00 .................. $5,830.00 WO car payments..... $9,430.00 if car payments

 

[rumpleforeskiin]

Sol,
However, if you lived in Montreal, drove under 5000 km per year, drove a 1989 Chevy, your costs would be:
Gas: 1,000
Insurance and Plates: 550
Oil Changes: 160
Tires: 400
Maintenance, if you did any: 600
Total: 2710

Note 1: I'm not including the 5,408$ in parking tickets at the rate of 2 per week.

Note 2: Also, I question your tire expenses. I just bought a set of top of the line tires for under 600$. I expect that each set (winter and summer) will last four years, resulting in an annual cost of 300$. If you're burning 8 liters per day, your tire consumption should be no more than mine.

Note 3: for some reason, your annual year seems to run 9 days shorter than mine, 10 in leap year.

 

[EagerBeaver]

One thing that is much higher in the USA than Canada is insurance costs. My annual car insurance costs are well over $1,500 on my vehicle and this despite no claims or accidents. Unfortunately this reflects the high costs of liability insurance in a litigious State. We do not have no fault insurance in CT- it was abolished by the legislature in 1993 so that attorneys could make a good living.

If I lived in Montreal I would not have a car- it makes no sense if you can ride the Metro, buses, bicycles and/or walk. However I need to have a car as I have to travel to various courthouses as part of my business.

 

[Sol Tee Nutz]

Dyslexia with the days in a year.
I drive 20,000 k a year
The tires I bought were the Yokohama Advan Neova at just under $800 installed.
I also have to use premium gas which really sucks.
Oil changes are full synthetic.
Living in Montreal would bring vehicle expenses down but if I lived in a city I would not own a car and use transit or taxi.

I have to edit: I would own a car if I lived in Montreal, I love fast cars that handle well and would still own one to drive around the windy roads ( outside the city ) on the weekends. If I had the choice to drive a Lambo or Maclaren etc around a track for 2 hrs or any SP for 2 hrs I would take the car.

 

[rumpleforeskiin]

One thing that is much higher in the USA than Canada is insurance costs. My annual car insurance costs are well over $1,500 on my vehicle and this despite no claims or accidents. Unfortunately this reflects the high costs of liability insurance in a litigious State. We do not have no fault insurance in CT- it was abolished by the legislature in 1993 so that attorneys could make a good living.

Mine, a couple of states north, is under 600$ on a 2008 Prius.

If I lived in Montreal I would not have a car- it makes no sense if you can ride the Metro, buses, bicycles and/or walk. However I need to have a car as I have to travel to various courthouses as part of my business.

Bingo. I use my car to get me to and from Montreal on a weekly basis. Once here, it's usually in the same place Monday morning that I parked it the previous Tuesday afternoon. I use the Metro in winter, my bike the other month. I have two bikes, one of which is valuable, the other I use when I'm going to be leaving it parked on the street for any length of time. You DO NOT lock a valuable bike on the streets of Montreal. I put just over 4000 km on my bikes last year.

Also, Communauto is a car-sharing system much like the Bixis. I know quite a few people who use it when they need a car.

 

[gan]

That's what I earn. Right out of college, single as fuck - that's a pretty good deal!!

I agree with others here. It's not a lot of money - so you still have to plan your finances.

Eat at home - add a few veggie meals to your diet - that significantly cuts down costs and is healthier.

OPUS card ftw. A single guy really doesn't need a car in Montreal.

 

[oldbutartful]

Average median Wage in Quebec is $47k If you need a car for work you should be able to claim for KM travelled on official work business
Local travel downtown is ok metro buses etc allow $ 50 per week
Booze downtown is generally high $7 for a pint of beer or a glass of wine
Car parks are expensive $11 for outdoor or up to $20 per day indoor. Some have a reduced Monthly rate for an annual contract
Car parking at your Condo / Apartment may not be available not all have parking spots also during winter there is no street parking overnight
(Snow Clearance) Montreal police are unofficial tax collectors so beware. $69 for parking 12 minutes over the time and higher if car still there more than an hour later. A car down town may cost double than in the suburbs and you may not be able to use it in winter as the secondary roads take several days to clear after a big snow fall. All pices advertised in Quebec are minus taxes so add 15% and extra liquor tax if dining out. 70k doable but tight.

 

[MtlNewbie]

Dyslexia with the days in a year.
I drive 20,000 k a year
The tires I bought were the Yokohama Advan Neova at just under $800 installed.
I also have to use premium gas which really sucks.
Oil changes are full synthetic.
Living in Montreal would bring vehicle expenses down but if I lived in a city I would not own a car and use transit or taxi.

So you admit yourself your numbers are on the high side with your synthetic oil changes and premium gas. The main thing is the 20k km per year. We're specifically talking about living in Montreal in this thread. I only take my car when I leave the city and for groceries. Owning a car if you live and work in montreal proper, not Lachine etc. is more of a luxury. One thing I've found is that if you have a half decent car you absolutely cannot park it on the street so that's another 100-200 a month depending on where you live. In that sense it's completely a luxury.

 

[dude79]

I don't personnaly know anyone who doesn't own a car. Even when they live in the plateau. Anyways not having a car is an handicap, you can get by, but try bringing your date back on a bixi lol.

Transit is very limited and stops really early. I don't know how old you guys are, but metro stopping at 12-1 is way too early.

Except during rush hours, taking the transit is incredibly slower than a car.

 

[Sol Tee Nutz]

Taxi is good for a date, you can get many cab rides for $2500 a year.

 

[dude79]

Anyways. OP can do whatever he wants.

A better way to help him is if he tells us what kind of work hes doing and years of experience.

We could pool our knowledge and let him know if that 70k is ball park fair.

 

[rumpleforeskiin]

One thing I've found is that if you have a half decent car you absolutely cannot park it on the street so that's another 100-200 a month depending on where you live.

Don't know where you live, but in my neck of the woods, that's not true. I park my car on the street all the time. The family across the street leaves their Lexus SUV on the street all the time....

I don't personnaly know anyone who doesn't own a car. Even when they live in the plateau.

The vast majority of people I know do not own a car.

...but try bringing your date back on a bixi lol.

I've actually done that when we didn't want to lock our good bikes downtown.

Except during rush hours, taking the transit is incredibly slower than a car.

During rush hour, the quickest way to get around Montreal is on a bike.