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How much does one need to earn to be financially stable?

How much does someone need to make to pay bills, insurance, housing, necessities, etc. What makes this vary? How much do most people pay in expenses every month for these? 

8 Answers

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  • 2 months ago

    Make a budget that reflects the price of housing in your area plus all of your other expenses, plus some of your wants (new car, vacation, etc).

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  • 2 months ago

    Thats a great question for your parents...start with how costly you are a year..

    Food cost

    Cell cost

    Products used cost

    Energy used

    You'll see it adds up and you should be working...to help out..

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  • Erik
    Lv 7
    2 months ago

    How long is a piece of string?  There are too many variables to answer your question.  A good income in Mobile, AL would be poverty in Beverly Hills, CA.

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  • cosmo
    Lv 7
    2 months ago

    The short answer is: you need to earn more than you spend.

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  • 2 months ago

    Break it down to what has to be paid for monthly (rent, phone, utilities), what needs to be paid every 3 or 6 months (insurance), and what needs to be upkept regularly (toilet paper, toothpaste, kleenex, laundromat).

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  • Anonymous
    2 months ago

    Its the exact same for everyone. SMH

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  • 2 months ago

    It varies greatly and it depends upon the individual person/family, life style and location.

    Doing taxes over the years I have seen single moms who make $17k a year who seem content with their lives.  They know that they will never have much and they are ok with that.  However, I have also seen people making $150k a year who were miserable because they were living their lives like they were making $250k a year.

    Personally, I make 5 times what I made in the mid-90s.  However, my lifestyle has changed.  I travel more and I have other expenses that I didn't have in the 90s.

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  • Susie
    Lv 7
    2 months ago

    It varies depending on the area of the country you live in, your lifestyle, and what you consider necessities.  

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