how do you figure out what your gross income should be in order to live comfortably?
436644
Comfortably is a word that leaves  wide answers, but I would say that you need enough to pay your bills, your rent, to pay a car, to buy some things in the weeks, two dinners weekly in some good place, and to save at least 20% of your salary for retirement or vacations (can be more if you have a retirement plan and you want to enjoy vacations every year).\nNow, check how much do you pay for the things I mentioned and then you have the amount.\nNow put one more day of salary and that's it.
630671
It depends on your life-style of choice.  You should start by figuring out how much money you've made, and spent, and also how old you are...
617957
You'd need to calculate rent, utilities (electricity, gas, telephone) food, any debt or credit cards, car payments/gas, personal care, entertainment ... plus increases over five years due to leases, inflation, etc.  There are far too many variables, and without know the costs of such items and services wherever you are, can't come up with a number.
716184
1. Work out how much you can afford\n2. Get property papers/look on the internet for houses\n3. Drive around the areas to see what they're like.\n\nThat's as far as I have gotten so far. Next will be viewing different properties I think.\n\nEdit: Just remembered I also look them up on www.upmystreet.com to see if it's a decent neighbourhood and what the ACORN classification is
1101924
Ok here goes.  Get a paper and pencil and make a list:\nRent\nUtilities (Elec &/or gas)\nFood (a biggie, don't short yourself!)\nPhone (optional)\nTV/Cable (optional)\nParking (if applicable)\nInsurance (for your car, if applicable)\nAny Payments (car, etc. that may be applicable)\nNow, fill in the projected amounts, based on apartments you have looked at, questions about average utility payments, etc.  Now, talley it up and compare it against your (projected) income.  This will tell you A0. if you can make it, B. what your limitations are, and C. what you can afford as far as housing goes.
1023579
In general you should look at housing costs not to exceed 30% of your pay.  This would include rent, property taxes, insurance, mortgage, and utilties.\n\nThen you need to figure out what long-term financial goals you have.  Do your want to retire?  Then find the cost and there are plenty of calculators out there to tell you how much you need to save each paycheck to reach that goal.\n\nThen do that with all your bigger purchases - like a new car every X years, major appliances like a furnance lasts 15 or 20 years, education for your children, etc.  Determine the amount and when you need it and then you'll know how much to put into accounts for these larger purchase goals.\n\nAfter that, spend it.  Just make sure you think of everything you reasonably want to do and start saving for each of those now.  You'll be surprised how small the amounts are for each major goal.  \n\nAnd enjoy what is left over...if any!
1073605
Tough question! \n\nA decent wage depends upon where the man lives and the cost of living in that area, whether he has to support a family, the number of debts and expenses he has, and the lifestyle to which he is accustomed.\n\nA decent wage in some parts of California would be grossly indecent in San Francisco for example. \n\nA decent wage is whatever will allow a person to live, to meet obligations, and to recreate reasonably without undue fear of going into debt if he misses a paycheck or two. Just my thought!
378411
Take your weekly income and multiply it by 52. duhhhh
1076130
I would say live in a low cost area if it's accessible to your job, is safe for your family, etc. The less you pay for rent/mortgage, the more you can pay on your other bills... just my opinion. :)
203679
Gross income is simply the amount you receive from renters.  If someone is trying to sell you rental property based on estimated gross income - BEWARE- You want to focus on NET INCOME - the amount you have left after expenses. Expenses include, taxes, interest, maintenance, repair, insurance, utilities, advertising, legal support, tax prep, condo assessments, contingencies etc. etc. \n\nANY SELLER THAT IS RELUCTANT TO GIVE YOU VERIFIABLE INFORMATION ON THEIR EXPENSES SHOULD BE AVOIDED.
1110324
Expenses rise to meet income, no limit to that.  Ideally what ever you make is enough. How about enough so that the lack of or too much of it does noy limit your having a good life and being happy
266110
Budgeting involves planning your and/or your family's revenue and expenditure. Basic things you need to do related to this are:\n\n* Monitor expenditure and revenue;\n\n* Review your budget periodically as a result of this new information or to set new goals;\n\n* Have a 60-40 rule with 60% in fixed bills and rent and 40% on discretionary expenditure and 10% on irregular expenditure, savings goals, retirement and fun;\n\n* Try to have your rent or mortgage at now more than 25% of the budget;\n\n* As far as possible, Keep It Simple Stupid.
671726
With a variable income, that is going to be a very big challenge. First, I would figure out what is the minimum I would bring in and use that as my "salary". Anything extra then would be saved for emergencies and big purchases. Then, I would identify all of my current financial commitments: house payment/rent, utilities, and monthly payments including food. You must get that number under your minimum check. A few tips that really stink but are critical:\n\n1) House payment or rent is your biggest expenditure. Is there some way to reduce this by getting a roommmate or moving in with someone. When I was in school, everybody lived with someone. It was just too expensive living on one's own. \n\n2) Eating out is deadly. Even fast food is more expensive than eating food from a grocery store. I would ban all eating out if I was this pressed for cash.\n\n3) Car payments. If you are driving a car that is killing you with the payments, sell it. Chances are you can dump it and try to get something for a couple of thousand. When I sold cars for a living, I saw people get car loans that were completely beyond their ability to pay. The banks don't mind  if you are eating spaghetti every day to drive your SUV.\n\n4) Luxury items like cell phones, recreational shopping, cable tv, high speed internet, all have to go too.\n\nBest of luck to you.
404671
Well that really depends, people over there get by with 150-200 /month but obviously this is not a very luxurious life. These people shop at the marketplace (not super makets) and never eat out...\n\nIf you want to live decently (like you are used to in the US) you would probably need about $300-$400 /month (including rent for a decent place)
122353
I think a rough estimate in the United States is about 1/3 of income goes to federal income taxes of course it is higher if you make more and lower if you make less but I think that is average....\n\nThen depending on the state around 6% sales tax (some states don't have sales tax)\n\nThen if you own a house add in some property taxes usually 1.5% on the value of your home per year.
87862
Well, take your last paycheck and you should see what you paid in so far (year-to-date). That should give you a general idea.
270872
The financial planning spreadsheet that I use for my budget indicates that 24-42% of expenses is the target range for housing, which includes rent or mortgage & real estate taxes, plus utilities.  Expenses should be less than take home pay, otherwise you'll be working until you die in debt.  I suggest you take a look at the Motley Fool (fool.com) or some other on-line personal finance site.  It sounds like you are ready to start a budget and will need a lot of answers.\n\nBest of Luck.  E-mail me if you get stuck.