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How much money do you need to be stable on average ?
A lot of places cost a lot and some dont.
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Vianne’s Answer
Where you live and your personal situation are key factors. Rent is often the largest expense, so sharing a place with roommates can significantly reduce costs. In some regions, an average income is enough to live comfortably, but in pricier areas like California, you'll need more just to cover the basics.
Being "stable" means you can pay for essentials like rent, food, transportation, and bills without constant money worries, and still have a bit left for savings or emergencies. It's not about earning a lot; it's about feeling financially secure each month.
Don't focus too much on reaching a specific income. What's more important is managing your money well. Learn to budget, save small amounts, and avoid overspending. This approach will benefit you more than just aiming for a high salary.
Being "stable" means you can pay for essentials like rent, food, transportation, and bills without constant money worries, and still have a bit left for savings or emergencies. It's not about earning a lot; it's about feeling financially secure each month.
Don't focus too much on reaching a specific income. What's more important is managing your money well. Learn to budget, save small amounts, and avoid overspending. This approach will benefit you more than just aiming for a high salary.
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Melanie’s Answer
Vianne shared some great advice! I'd like to add that wherever you choose to live, try to keep your rent or housing costs to 30% of your income. This way, you can easily handle other bills and also save money for future needs or retirement.