Can people live off an average salary?

Question

The average salary in Canada is less than $35,000. Can your average person live and raise kids with that? Can you buy a house and drive a car and pay for life insurance and educational savings for your kids and have money left over to eat? It doesn't seem to add up to me. Maybe this is why so many people are in debt?

Answer 1

No way. I think a lot of the ultra-poor bring down that number, and they get government assistance. Plus, they may have inherited a house or live cheap. I don't think I could ever get by on $35,000, even if I lived in a part of the county where rent was cheap. And I'm not a big spender and do cut corners.

Answer 2

Yes, you can afford to live off of that amount. But you would have to give up some materialistic goods to do so. We live in a materialistic world where supply and demand is norm. So companies encourage us to buy even if we don't need certain things.

1. If you are single, why buy a house when you rent an apartment or live in a trailer park? Why buy a large house when it is only going to you living there?

2. If you want a car either get a good used one or go to a dealership with a certain payment plan in mind. You don't need a car with everything. Just the basics. Plus low ball them as best you can. The dealership are desperate for sales and they want you to afford your car payments.

3. If you have a cell phone, then you can get rid of your landline phone.

4. Wait until things are on sale or discount. And use coupons as much as possible. Also buy in stock.

5. Carpool to work or use public transportation. If your place is close by, ride a bike, moped or just walk to work. If you carpool, be considerate and give the driver gas money in return. If you are the driver, tell the others you would like gas money. It is only fair.

Answer 3

nowadays.. it's hard. I say if you can live alone and not be lonely, it's better to live alone and live comfortably... or ... choose between having a husband or a baby ( just one) but then again if you want to have both... both you and husband should have jobs. there's no such thing as housewives nowadays.. you just can't live a comfy life with one paycheck unless you marry a millionaire

Answer 4

hmm you mean Canada? or USA?

Anyway I would think $35k is more than enough to survive... it is more like what level of standard of living you are attempting to achieve. You do not need to buy a house when you dont earn so much... rent. If public transport is good, take it ($30/mth?)... car pool? Buy a cheap car? It works. Dont eat out, cook small meals having per meal of $2-$3. Works for me. And I guarantee you will still have money left over for savings.

In singapore,

a low quality 4 room apartment can go to 500k

a 4 door sedan can cost you 100k

starting salary for like a grad is about 30k

and yet the standard of living there is pretty high.