Let's talk about money...

[Zack Alklazaris]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

 

[Fractral]

I read somewhere that above about £60000 a year there is no noticeable increase in happiness, so I guess a good salary is anything above that. However where I live the average salary is somewhere around £25000 a year, less than that if you are just out of uni (and assuming you can even get a job, which is looking increasingly unlikely)

 

[Dimitriov]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

...It sounds like it sucks to live in Lithuania. I mean no offense, but from what I could see online the average wage doesn't look like it matches cost of living at all.

If an average salary is around $6000 - $1000 a year, and real estate prices from what I could see start at an easy 150k (also in USD) for an apartment... then that just plain sucks.

I have never been there obviously, so tell me if I am way off, but google searches suggested that food, clothing, etc. was a fairly similar price to here in the US and Canada. So ouch. If so, it sounds like your entire country is below the poverty line...

Anyway I live in Canada and, while I am currently in school and only working once a week, while working full time I was making around 25k a year (CDN $) which is pretty low, but pretty decent considering I just work in a convenience store right now.

From my perspective a good annual income would be 85k a year and up. Properly wealthy would be around 175k in my opinion.

 

[royohz]

Not really on topic, but to me, money, or rather, the love of money is the root of all evil.
[small]Title said "Let's talk about money", didn't it?[/small]

On topic: In Norway, anything around 800,000 to 1,000,000 NOK (ca. 140,000 - 170,000 USD) a year or above is what I figure to be quite a bit. Then there's taxes, but I don't mind.

 

[Fappy]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

Many people with that much still have financial issues because they make poor investments. I can't tell you how many times my parents made an investment at the worst possible moment and got burned. However, the benefit of making that much money means that as long as you sit tight and don't spend much you'll make it all back relatively quickly. The irony is that my mom was an accountant and she still makes impulse buys and regrets it later. >.>

 

[Raijha]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

Many people with that much still have financial issues because they make poor investments. I can't tell you how many times my parents made an investment at the worst possible moment and got burned. However, the benefit of making that much money means that as long as you sit tight and don't spend much you'll make it all back relatively quickly. The irony is that my mom was an accountant and she still makes impulse buys and regrets it later. >.>

That's a major problem with investing. Its too damn tempting to try and time the market for a quick profit and then you get burned all the time. Its a hard mindset to resist, (buy low sell high, right?)

I like your comment though, just because someone works with money all the time, doesn't necessarily make them super good or responsible with it. I can attest to that for sure!

 

[The Gnome King]

OK, so as part of my sheer thirst for knowledge, I want to take a small unofficial survey and seeing as this community is a large, international one...

State the area/country you live in, and state what you would consider a "large" salary. Also include the field of work so we can make it as accurate as possible (not all jobs are created equal after all) Cuz frankly, from my little corner of the world, PhP 20,000 (roughly around $500) monthly for a starting IT/Software Engineer position is quite a hefty sum.

So, help a brother out

Not sure what starting IT/Software Engineers make here, but in the field of supply chain management / project manager for a large semiconductor business in Colorado Springs... think basically an MBA level of education to grab one of these jobs; salary should be about $100,000 yearly when you're finally "in" and doing well. Upper level management and executives can make a lot more, up to $250,000 for a VP/executive position. I'd say that when you're making $250,000 a year in my part of the US you can comfortably say you're part of that 1%.

Only jobs I know that pay this well though are business sector.

 

[Zack Alklazaris]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

Many people with that much still have financial issues because they make poor investments. I can't tell you how many times my parents made an investment at the worst possible moment and got burned. However, the benefit of making that much money means that as long as you sit tight and don't spend much you'll make it all back relatively quickly. The irony is that my mom was an accountant and she still makes impulse buys and regrets it later. >.>

lol that is ironic.
Thats why I said you still have to play your cards right. I've heard of people who make millions a year go into financial debt.

 

[Fappy]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

Many people with that much still have financial issues because they make poor investments. I can't tell you how many times my parents made an investment at the worst possible moment and got burned. However, the benefit of making that much money means that as long as you sit tight and don't spend much you'll make it all back relatively quickly. The irony is that my mom was an accountant and she still makes impulse buys and regrets it later. >.>

lol that is ironic.
Thats why I said you still have to play your cards right. I've heard of people who make millions a year go into financial debt.

You have to keep a good balance of summer homes and formula-1 race cars right? D:

 

[Zack Alklazaris]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

Many people with that much still have financial issues because they make poor investments. I can't tell you how many times my parents made an investment at the worst possible moment and got burned. However, the benefit of making that much money means that as long as you sit tight and don't spend much you'll make it all back relatively quickly. The irony is that my mom was an accountant and she still makes impulse buys and regrets it later. >.>

lol that is ironic.
Thats why I said you still have to play your cards right. I've heard of people who make millions a year go into financial debt.

You have to keep a good balance of summer homes and formula-1 race cars right? D:

Actually thats EXACTLY it. -shakes head- The reason I say 75k is because I still plan on living in a 900 dollar a month apartment and keep my used Honda Accord. I want nice shit inside my place. A good computer a big screen tv. Modest investments compared to what some people go out and buy on a 75k salary.

Growing up into adulthood I have discovered that you will always try to live above your means if your not careful. As your resources increase so does your expenses. You make 20k you live with 5 roommates and top romain. You make 40k you live in your own apartment and eat pizza. You make 80k you live in your own house and eat steak. You make 160k, you live in a 2 story house and eat king crab. etc.

 

[pointless vandalism]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

Many people with that much still have financial issues because they make poor investments. I can't tell you how many times my parents made an investment at the worst possible moment and got burned. However, the benefit of making that much money means that as long as you sit tight and don't spend much you'll make it all back relatively quickly. The irony is that my mom was an accountant and she still makes impulse buys and regrets it later. >.>

lol that is ironic.
Thats why I said you still have to play your cards right. I've heard of people who make millions a year go into financial debt.

You have to keep a good balance of summer homes and formula-1 race cars right? D:

To quote my father, who is well off "The only difference in a mans paycheck is the size of his toys..."

Speaking of investments, Index Funds. Look them up.

 

[Strazdas]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

I have compared the prices of living in US to Lithuania (more than a few times too). The living price does not differentiate very much. Yes there are higher costs of some household supplies but in general it is similar. Infact food and petrol is much cheaper in US (dont you dare to complain about expensive gas, we got 3 times the cost). and yet we make do with 6000 a year, 50.000 here is being rich, so its not a matter of "not living paycheck to paycheck" but a matter of perspective. you are used to live like that and you think anything less is poor.

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

...It sounds like it sucks to live in Lithuania. I mean no offense, but from what I could see online the average wage doesn't look like it matches cost of living at all.

If an average salary is around $6000 - $1000 a year, and real estate prices from what I could see start at an easy 150k (also in USD) for an apartment... then that just plain sucks.

I have never been there obviously, so tell me if I am way off, but google searches suggested that food, clothing, etc. was a fairly similar price to here in the US and Canada. So ouch. If so, it sounds like your entire country is below the poverty line...

Anyway I live in Canada and, while I am currently in school and only working once a week, while working full time I was making around 25k a year (CDN $) which is pretty low, but pretty decent considering I just work in a convenience store right now.

From my perspective a good annual income would be 85k a year and up. Properly wealthy would be around 175k in my opinion.

You know there is even a joke about it:
3 presidents of Lithuania, Latvia and Estonia meet. Estonian president says: my people earn 1000 dollars a month and pay 400 in taxes, how can they live off 600? Latvian says: my people earn 1000 a month and pay 600 taxes, how can they live from 400 thats left? and the Lithuanian says: my people earn 500 per month and pay 600 in taxes, where do they get the extra 100 from?

The life in here does such more or less, but we make do. And unlike majority of my people i dont plan to run away to a richer country, id rather try to bring this one upwards. Your apartment pricing research is correct considering a relatively large apartment in cities. Small ones (read: 1 room) or villadges are cheaper of course. Yes, the pricing is similar to that of US, infact some food is cheaper on your end. Such things like Gas are much more expensive, regardless that we are neighboars to a country that exports huge amounts of it. By US standarts, our whole country is in poverty. Thats why we joke around saying we are infact a 3rd world country pretending to be 2nd world country. Back when i was working in convenienvce store before i joined the university, i was making 800 LTL a month, which equals to about 320 dollars. so thats 3840 dollars a year (thats counting US dollars, but i think canadian ones are similar atm)

 

[Zack Alklazaris]

Lithuania. (yeah go google). Average salary across the board here is around 500 american dollars a month (in converting since you started with dollars). a big pay is double that. So that amounts to 6000 and 12000 a year respectively. Those people earning 60.000 dollars a year are bloody rich. Only mafia here earn that much.

I currently make just under $50k a year and live in the West Texas area. I do alright because it's really cheap to live out here.

you do allright because you get a huge salary, not because its cheap to live.

50k here isn't very much. Its enough to live comfortably... as in your not living paycheck to paycheck.

A good rich salary in the states I would say is 250,000 dollars a year. If you play your cards right you no longer have to give a shit with that paycheck.

I have compared the prices of living in US to Lithuania (more than a few times too). The living price does not differentiate very much. Yes there are higher costs of some household supplies but in general it is similar. Infact food and petrol is much cheaper in US (dont you dare to complain about expensive gas, we got 3 times the cost). and yet we make do with 6000 a year, 50.000 here is being rich, so its not a matter of "not living paycheck to paycheck" but a matter of perspective. you are used to live like that and you think anything less is poor.

Do you have the link? I would like to see it. The reason being is that I pay 900 dollars a month for my apartment alone. (and its SHARED with other people) Electric cost 100 dollars a month, cable cost 135 dollars a month.

I couldn't afford my own BASIC essentials on a 6k salary. No there are no cheaper apartments unless you want to move into the ghetto (lowest price is 650 a month).

I will admit we complain way too much about gas prices though.

 

[Blondefool]

I currently make about £13000 a year after tax living in Nepal. However, as this is a developing country and due to the fact that my work pays for accommodation, bills, transport to work and a flight home once a year, this is actually a huge salary for here. I actually spend very little of it at this moment in time due to low cost of living.

 

[Realitycrash]

Every now and again I realise how skewed my view on money has become. I'm training to be a Doctor and I frequently hear things like "a general practitioner only makes 200-400k" or "the surgical resigstrar salay is terrible, like 120k" my emphasis. It's not that it's undeserved money, a GP trains for about 10years and some registrar can work 60-80hr a week depending on how poorly it is arranged. But there's still people getting their Phds who won't ever make as much as a GP or people working 60-80hrs in a Cab who would be lucky if they made half of what a surgical registrar does.

I'm not making any money yet though.

Are those figures in US Dollars? Also, this is for me to see if it's just our economy, or the view on money is the same in other places.

The general trend here is:

->Salary Day (whooo hooo!!!)
-> 3 days before next salary, Zero bank balance (okay, I'm exaggerating on this part, but you get the point)
-> You borrow from people to make it for the next three days
-> Salary Day!!!
-> Pay off debts
-> 3 days before next salary, Zero bank balance (okay, I'm exaggerating on this part, but you get the point) because you cleared your debts, so you borrow again
-> Salary Day!!!

It's a vicious cycle, really, a trap that's easy to fall into and too hard to get out of.

Which is how I live, no matter if I live on a students salary, or twice as much. In the end, I seem to be equally happy/unhappy no matter.

 

[Strazdas]

I have compared the prices of living in US to Lithuania (more than a few times too). The living price does not differentiate very much. Yes there are higher costs of some household supplies but in general it is similar. Infact food and petrol is much cheaper in US (dont you dare to complain about expensive gas, we got 3 times the cost). and yet we make do with 6000 a year, 50.000 here is being rich, so its not a matter of "not living paycheck to paycheck" but a matter of perspective. you are used to live like that and you think anything less is poor.

The reason being is that I pay 900 dollars a month for my apartment alone. (and its SHARED with other people) Electric cost 100 dollars a month, cable cost 135 dollars a month.

I couldn't afford my own BASIC essentials on a 6k salary. No there are no cheaper apartments unless you want to move into the ghetto (lowest price is 650 a month).

From what i could gather electricity costs vary 12¢ to 50¢ per KWH, that means you need to run from 834 to 200 KWH per month. Now lets not assume you have the worst case scenario of 50cents per KWH. i live in a family of 5 people, 3 rooms apartment. We rarely use 200 KWH per month, and thats 5 people, you alone use more than that, so the reason you pay too much is because you waste energy. As for cable, it is true that it is bloody expensive in US, thats one good thing we got here. according to this: http://www.discoverabroad.com/us/livingabroad/housing/apartmentmore.htm rent is expensive, but it is not as expensive as you claim, unless you live in california. as the share of people go up it usually goes down per person. Once again, its not a matter of "not living paycheck to paycheck" but a matter of perspective. you are used to live like that and you think anything less is poor.

 

[Starik20X6]

I make around $20AU an hour as a casual sales assistant in a shop selling board games. I'm 21. As far as I know that's a pretty standard amount for someone my age to be making.

 

[ChippedShoulder]

Well I make about £3500 a year and that's very reasonable, however it should be noted that I'm 17, not expected to pay board or bills and I only work 12 hours a week, for my area and age though it's a very good amount to be making, although about £20k is considered a decent living.

 

[Aitamen]

Make roughly 8k a year as a freelancer in various things, my gf makes ~32k working as a manager at a family dollar store, neither of us have college work yet. I consider us pretty well off, and able to afford our stuff with about ~200USD worth of spending money and 150USD of savings each month, and no debt.