That may be so, but don’t come crying to us when the solutions to your biggest social problems require widespread gun ownership for some reason, which could happen any day now. Yes, sir, any day now. /s
If you’re getting 250/day and making $62.5k/yr and paying taxes, you’re left with about $50k. Average rent is 1550/month in the US ($18600/yr). 30% of $50k is only $15000.
Working 8hrs a day at $31.25 per hr. (that’s 4.3 times the minimum wage) still doesn’t cover the 30% rule.
$250 per day is $91,250 per year. What the hell are you buying??
Healthcare
Ahh, must be American
That may be so, but don’t come crying to us when the solutions to your biggest social problems require widespread gun ownership for some reason, which could happen any day now. Yes, sir, any day now. /s
As we all know, America has no problems at all because everyone has a gun.
$250 per day, 5 days a week, 50 weeks a year.
$62.5k a year. That’s just enough to pay the average rent in America if you follow the 30% thing that gets taught
If you’re getting 250/day and making $62.5k/yr and paying taxes, you’re left with about $50k. Average rent is 1550/month in the US ($18600/yr). 30% of $50k is only $15000.
Working 8hrs a day at $31.25 per hr. (that’s 4.3 times the minimum wage) still doesn’t cover the 30% rule.
The 30% rule is based off AGI (adjusted gross income) which accounts for some taxes but I don’t remember which.
That’s not to say you’re wrong, by any means. Our economy is literally failing. The average person cannot meet their basic needs to survive
I have always heard that the 30% rule is based on your gross income with no account for taxes included.
I believe I’ve actually heard both, but most recently I was taught it via AGI
Ah agi makes more sense, since that’s before tax but after alimony and student loan interest payments.