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Posted by Rebecca (MONEY FORUMS: 5, Answers: 0)
Asked on September 15, 2015 9:15 am
40k+. Without going into debt, depending on your city, you could probably live on 20k and blow the rest. Bad idea, of course.
Rebecca, if you are like me, it's common to put the bills for those often impulsive no-essential purchases on your credit card. The big mistake credit card issuers love is when their card holders don't pay off the entire balance every month and start owing interest on the unpaid balance. Always be careful your monthly expenses (especially costs for those non-essentials) charged to your card don't get you into an unpaid balance personal finance death spiral.
Hi Rebecca, While this is not an easy question to provide a quick answer to I think it is important that people realize that not 100% of their money needs to be well spent! How much money an individual can blow will depend on their budget. Once all the fixed expenses such as rent are taken care of, and allocations are made for long-term savings such as car replacement and retirement, what you do with the rest is up to you - if you are taking care of all your bills, paying off your debt, and saving for the future then you should feel free to have some fun with what is left over!