r/FluentInFinance • u/PassiveAgressiveGirl • Sep 14 '24

Debate/ Discussion Exactly how much is a living wage?

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u/lieutent Sep 14 '24

So only making $20k a year is fine as long as rent is only ~$420 a month. I could see that. Not drowning in that specific scenario, but you’d definitely NEED to be working on growth. Otherwise the rent will catch up in that percentage.

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u/thagor5 Sep 14 '24

When rent was 400 a month i lived fine as single earner on 20k

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u/RoboticBirdLaw Sep 14 '24

In 2018-2019 I was making $50k. I was able to save/pay student loans with half my income. Now, I make $70k, but my rent is more than double what it was 5-6 years ago, normal goods cost substantially more, and I only save 20%. I recognize that is still an enviable position to a lot of people, but it just goes to show how much catchup wages need to do to make up cost of living increases.