01-15-2019, 04:47 PM
Yes, $75 a week is very doable for someone who makes $1333 a month.
$1333
-133 FICA
-37 State tax
-300 savings
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$863 disposable income --- this is very doable
It boils down eliminating instant gratification for a short period of time for long-term benefits.
Now suppose this person gets married and both make $16,000 a year, one person's salary can go toward the house payment and it is free and clear in 4.5 years. Can we do the same in California? No.
Now the $16,000 a year is an example that your dollar can go much further in AR than in coastal cities. The average salary in Little Rock is much higher than 16k, but you can see how low your salary can go and you can still own a home (the example of a home was one from Little Rock). You will never be able to afford a home in coastal cities at that salary, therefore your upward mobility is much better in AR than in coastal cities despite what your articles say. Teenagers can afford to buy a home in AR.
$1333
-133 FICA
-37 State tax
-300 savings
--------------------
$863 disposable income --- this is very doable
It boils down eliminating instant gratification for a short period of time for long-term benefits.
Now suppose this person gets married and both make $16,000 a year, one person's salary can go toward the house payment and it is free and clear in 4.5 years. Can we do the same in California? No.
Now the $16,000 a year is an example that your dollar can go much further in AR than in coastal cities. The average salary in Little Rock is much higher than 16k, but you can see how low your salary can go and you can still own a home (the example of a home was one from Little Rock). You will never be able to afford a home in coastal cities at that salary, therefore your upward mobility is much better in AR than in coastal cities despite what your articles say. Teenagers can afford to buy a home in AR.
MA in progress
Certificate in the Study of Capitalism - University of Arkansas
BS, Business Administration - Ashworth College
Certificates in Accounting & Finance
BA, Regents Bachelor of Arts - West Virginia University
AAS & AGS
Certificate in the Study of Capitalism - University of Arkansas
BS, Business Administration - Ashworth College
Certificates in Accounting & Finance
BA, Regents Bachelor of Arts - West Virginia University
AAS & AGS