What is the minimum GROSS salary to be able to live alone in CGY?

[Daradon]

Originally Posted by fundmark19

Lets take a stab
- 1350 rent (2 bedroom condo Mckenzie towne)
- 50 rental insurance
-80 electricity
- 400 groceries and gas
-140 Car Insurance
-500 fun

Total $2520

If you make $50,000 per year you can easily cover I would say 40 would be looking at bottom range to do what you are looking for

Good list, but you forgot to include other utilities such as phone/cable/internet. Probably add anywhere from 100-200/mo

500 for fun is low, esp in Calgary, but if he thinks he can do it. And 400 is WAY low for groceries and gas. Unless you aren't going far and not eating much but kraft dinner. It's easy to do the 400 without gas. That's less than 100 a week! And it's not just food, it's toothpaste, toilet paper, etc.

I guess it depends on how you see yourself living. Course, starting off is always lean. But that's why people usually start with roommates...

[WilsonFourTwo]

Originally Posted by polak

Well then I should be comfortable.

Thanks everyone, this was a little bit of a confidence booster because I was seriously starting to get the impression by talking to some people that to live comfortable independently, you need about 65 K gross. I'm not quite there yet so I was worried.

I am comfortably above 40K though so I should be good?

Yup - without a doubt. The key will be to have a realistic budget (that isn't very restrictive) and then live to it. When I was making 50k (a few years ago but still to the point it remains a valid comparison) I had no consumer debt, owned a 1-Bdrm Condo in a good neighborhood, a new car, had some "date cash", and was putting good cash into me RRSPs.

Trust me, 50k (for example) is a lot of money, particularly when you're mindful of it.

[TurnedTheCorner]

Originally Posted by polak

Well then I should be comfortable.

Thanks everyone, this was a little bit of a confidence booster because I was seriously starting to get the impression by talking to some people that to live comfortable independently, you need about 65 K gross. I'm not quite there yet so I was worried.

I am comfortably above 40K though so I should be good?

65K would be about right (maybe a bit high) for a two bedroom condo/townhouse. You could get away with 2/3 of that (~44 K) for a one bedroom spot, and things would be OK albeit a bit tight depending on your car and debt situation.

My two cents.

[TurnedTheCorner]

Originally Posted by WilsonFourTwo

When I was making 50k (a few years ago but still to the point it remains a valid comparison) I had no consumer debt, owned a 1-Bdrm Condo in a good neighborhood, a new car, had some "date cash", and was putting good cash into me RRSPs.

I had no idea being Popeye paid so well. Or are you the Lucky Charms leprechaun?

[GreenLantern2814]

Originally Posted by albertGQ

If you're not sure you can live on your own on your current salary, you probably shoudn't

If you're not sure, do it anyway and use it as a motivator. You've never not made rent; if you're borderline, go for it. You will not regret it.