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It is enough as long as you can manage the following math: Cashflow in (net) > Cashflow out (net) It is that simple. Yes of course at $75K in NYC, your "cashf
by codegeek 14y ago
It is enough as long as you can manage the following math:
Cashflow in (net) > Cashflow out (net)
It is that simple. Yes of course at $75K in NYC, your "cashflow out" variable needs to be lower than what it would be at $120K. So it is your choice. Make $75K in NYC but want to live in manhattan ? Sure, you can do that but your non-housing costs have to be significantly lower.
Master that formula for life and u r golden. I have been doing it for years. My income has seen significant changes over past few years (luckily positive) but when in confusion, I use this formula time and time. Also, I love to discuss this with my wife whenever she says "we make so much money. Why can't we buy X now"
- hudibras 14y agoSomebody's been reading David Copperfield. "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."
- codegeek 14y agofunny but this is something that sounds so trivial once someone says it. Most people however overlook this simple formula because they use emotions rather than brain.