Depends where you live and work. There's a lot of places where making six figures is more like making 70-80K after income taxes. And $500/month barely covers the cost utilities for me: power, heating, water, trash, minimal internet access, and bargain phone plans. Then you start adding up property taxes, sales taxes, health and car insurance, gas, car(s), etc.
If you don't have any debt, you can probably get by fine. But very very few can afford to buy a house in a decent neighborhood without getting a mortgage.
Depends where you live and work. There's a lot of places where making six figures is more like making 70-80K after income taxes. And $500/month barely covers the cost utilities for me: power, heating, water, trash, minimal internet access, and bargain phone plans. Then you start adding up property taxes, sales taxes, health and car insurance, gas, car(s), etc.
If you don't have any debt, you can probably get by fine. But very very few can afford to buy a house in a decent neighborhood without getting a mortgage.
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