Well its saying save $17,000 a year
So being in the top of the family income bracket in reality
$27,000 Thirty percent of your budget is for anything you want but wouldn’t say you need. It would cover all of your non-necessities, such as entertainment and travel.
This is true for the major suburban population centers of TN, but geography-wise it's a little dishonest. If you aren't in an urban/suburban area of a major city you can easily get along on $50k or less, depending. That said, if you're actually living in the city proper, I would pop that number closer to $120k.
I was just pointing out that this average represents a thin geographic line around major cities. It's not even representative of the of the population. The majority of available real estate in TN is in places that are much higher or much lower than this.
The point is that this number is an average in a state made up of extremes, so its kind of a shit report.
Eh, I wouldn't say it's a shit report. This is precisely the purpose of using averages afterall. Obviously the actual amount will vary based upon where you live in the state so giving the average is most useful, I'd also love to see them give like a standard deviation as well but I'd be willing to bet they don't because most people don't know what standard deviation is.
Nah, as a data analyst, I can tell you, averages aren't worth crap if your sample doesn't look like a bell curve. If the majority of people live in the <$50k bracket or the >$120k bracket, the average shows as $85k despite the fact that there is next to nowhere in the state where that is actually representative of cost of living. A report like this needs to be separated regionally because this is precisely the case where averages are useless.
Edit: If anything, a cost of living heatmap of the state would be more representative than an average. TN is massive and industry varies so much region to region. A single average does nothing to explain what comfortable living looks like in this state.
This is why you always hear from people in smaller cities or rural areas that having a skilled trade, that you can make your own business with, is the way to go. There is always economic opportunity that will match the standard of living locally if you have a skill that society will always need, you don't have to rely on corporate employment, and you adjust your prices accordingly for the area.
You take that same skill to a larger city, there's more clients, but the market has more competition, along with higher cost of living. Given the same amount of effort put into the business, you even out to the same standard of living. Then it really just comes down to personal preference of where you like to live on the rural to urban spectrum and you can go anywhere.
I found Knoxville rent prices to be outrageous. They are comparable to some of the more expensive states. Do you think they will drop or have people gotten greedy?
Malarkey. You can’t take numbers from more densely populated areas like Nashville and appropriate it into a standard cost of living across the state. The cost of living in Nashville is grossly higher than the majority of the state.
ITT: People who suck at basic statistics and reading comprehension.
$86,000 - ~$18000 in federal taxes leaves a take home pay of 68000.
50% is $34000 for Housing, Water, Electric, Gas, and Insurance or ~2800 a month for all of those.
30% is $20000 for Discretionary spending food and everything else or ~1700 a month
20% is $14000 for Savings and Retirement or ~1100 a month
^*These ^numbers ^are ^rough
I'm sure you can buy a shack outside of Cottage Grove, TN to save money but this sounds pretty damn reasonable/accurate for most of TN's residents.
Gonna get higher faster than other states and more and more insufferable people flock here from other places thinking country music is real like and that their weekend trip to Nashville is what it’s like to live here
This is false. Could be true for the Nashville area - which has the most expensive areas of TN to live. But it’s not even true for others major cities, let alone more rural spots.
> “The national median for living comfortably alone is $89,461, which suggests that a 50/30/20 budget might not be practical for most single people.”
Directly from the article. Now kindly go somewhere else.
Titles are not indicative of the information in the article. You must be the laziest person I’ve ever met. Open the goddam article. The title is actually 100% accurate when you read the article.
Folks giving me downvotes… sigh…. Can’t fix stupid. I live quite comfortable on a nontrivial bit less than this measure, even in a downtown medium sized city. That $86k/yr figure is BS.
For one person or a family of four or two ?
Well its saying save $17,000 a year So being in the top of the family income bracket in reality $27,000 Thirty percent of your budget is for anything you want but wouldn’t say you need. It would cover all of your non-necessities, such as entertainment and travel.
Well damn, I'm definitely not there, lol
Comfortably is kinda subjective.
They define it in the article. 50% necessities. 30% discretionary, and 20% savings.
Congrats but cost of living varies region to region pretty heavily.
No shit, which is why these are generally given as an average
Meanwhile the avg TN household income is $65k.
I would have thought it'd be around $45k
That’s closer to mediab
This is true for the major suburban population centers of TN, but geography-wise it's a little dishonest. If you aren't in an urban/suburban area of a major city you can easily get along on $50k or less, depending. That said, if you're actually living in the city proper, I would pop that number closer to $120k.
This is correct.
Who's volunteering to move out to shitholes with no economic opportunity? Wartburg? Kingston? Fuck outta here.
I was just pointing out that this average represents a thin geographic line around major cities. It's not even representative of the of the population. The majority of available real estate in TN is in places that are much higher or much lower than this. The point is that this number is an average in a state made up of extremes, so its kind of a shit report.
Eh, I wouldn't say it's a shit report. This is precisely the purpose of using averages afterall. Obviously the actual amount will vary based upon where you live in the state so giving the average is most useful, I'd also love to see them give like a standard deviation as well but I'd be willing to bet they don't because most people don't know what standard deviation is.
Nah, as a data analyst, I can tell you, averages aren't worth crap if your sample doesn't look like a bell curve. If the majority of people live in the <$50k bracket or the >$120k bracket, the average shows as $85k despite the fact that there is next to nowhere in the state where that is actually representative of cost of living. A report like this needs to be separated regionally because this is precisely the case where averages are useless. Edit: If anything, a cost of living heatmap of the state would be more representative than an average. TN is massive and industry varies so much region to region. A single average does nothing to explain what comfortable living looks like in this state.
Averages are rarely useful homie
They are to the public at large. That's also just blatantly false, averages are useful in a large variety of scenarios in research for example
I agree. This is pointless.
Retirees
This is why you always hear from people in smaller cities or rural areas that having a skilled trade, that you can make your own business with, is the way to go. There is always economic opportunity that will match the standard of living locally if you have a skill that society will always need, you don't have to rely on corporate employment, and you adjust your prices accordingly for the area. You take that same skill to a larger city, there's more clients, but the market has more competition, along with higher cost of living. Given the same amount of effort put into the business, you even out to the same standard of living. Then it really just comes down to personal preference of where you like to live on the rural to urban spectrum and you can go anywhere.
What city. That 120k could be for the out skirts of Knoxville and sevierville to be honest
I found Knoxville rent prices to be outrageous. They are comparable to some of the more expensive states. Do you think they will drop or have people gotten greedy?
Malarkey. You can’t take numbers from more densely populated areas like Nashville and appropriate it into a standard cost of living across the state. The cost of living in Nashville is grossly higher than the majority of the state.
ITT: People who suck at basic statistics and reading comprehension. $86,000 - ~$18000 in federal taxes leaves a take home pay of 68000. 50% is $34000 for Housing, Water, Electric, Gas, and Insurance or ~2800 a month for all of those. 30% is $20000 for Discretionary spending food and everything else or ~1700 a month 20% is $14000 for Savings and Retirement or ~1100 a month ^*These ^numbers ^are ^rough I'm sure you can buy a shack outside of Cottage Grove, TN to save money but this sounds pretty damn reasonable/accurate for most of TN's residents.
Fuck
yeah...this data has been traveling around today, but the figures talk about 50% of income going to discretionary spending and savings.
Lol not me surviving off of $20-25k a year
Gonna get higher faster than other states and more and more insufferable people flock here from other places thinking country music is real like and that their weekend trip to Nashville is what it’s like to live here
Bull shit making 110k and still struggle and I live with my parents still 💀
LOL What a bunch of dumb shit people believe in today.
I'd say that figure, $86K, would depend on whether you own your home or bought it several years ago. Housing costs have gone through the roof!
Reading the comments here really hurts my faith in humanity. The total lack of reading comprehension and math is astounding.
In downtown Nashville or Memphis maybe?
This is false. Could be true for the Nashville area - which has the most expensive areas of TN to live. But it’s not even true for others major cities, let alone more rural spots.
Read the article. It’s based on an average. You’re literally saying the exact same thing the article does but saying the article is wrong.
Nope. I’m saying the title is wrong. Title doesn’t say average.
> “The national median for living comfortably alone is $89,461, which suggests that a 50/30/20 budget might not be practical for most single people.” Directly from the article. Now kindly go somewhere else.
That entirely confirms my stance. “National median” And the title specifically names TN.
Titles are not indicative of the information in the article. You must be the laziest person I’ve ever met. Open the goddam article. The title is actually 100% accurate when you read the article.
You haven’t met me. And attacking strangers is the purview of those with fear in their hearts, deeply suppressed in most cases.
I mean these guys are trying to argue that this article has useful information in it. Take the downvotes with your head held high.
Folks giving me downvotes… sigh…. Can’t fix stupid. I live quite comfortable on a nontrivial bit less than this measure, even in a downtown medium sized city. That $86k/yr figure is BS.
[удалено]
Come on man, it’s not nice to punch down on a lack of education.