It depends on what is your standard you want to accept, and where you live. The 'basic quality of life' means different things to different people. For exampl

It depends on what is your standard you want to accept, and where you live. The 'basic quality of life' means different things to different people. For example, 12k rental can be extravagant. At this amount probably you can have a whole private apartment, with an actual bedroom (not a studio). But room rentals should be cheaper. Look what student rentals ask for, or friendly professionals that need roommates. These could be way below $500/month, even in new york. Alternatively, do you have parents or siblings to live with and share the rental costs? Similarly, clothing is tricky, but people do with less than 1k. Some might not buy anything in a year. Buy quality over quantity, things that last. Be vigilant at avoiding spills, cleaning them quickly, know how to patch clothes, and dye them. Look for coupons, discounts, clearance, outlets, friends that have employee discounts. 3k for transport and without a car? How expensive are the busses + bicycle maintenance in the area? Most expensive monthly passes around the world are around $150/month. Be it new york or singapore. Also, many places let you transfer from metro to buses and vice versa on same ticket! The big thing here is that one has to trade time and schedule ventures out. Know which buses/subways are when, and knowing how long are transfers. Trips that are 15minute in car can become 1hour slogs if not timed right. 6k for rainy day -- the rainy day money is meant not to be spent unless you have to. There is no need to budget for it being spent every year. 5k health insurance -- demand universal health care, or bet you won't get sick, or get a job that covers this? --- In my earlier years I tried to do similar calculation and I got slightly below 10k for basics like roof over head and lack of malnutrition, and in my calculations found 20k to be comfortable enough to allow for independant living and icecream, and beer outing with friends once a month, a cinema twice a year. etc.