<p>“For someone making $50K, after all deductions for taxes, Medicare, medical insurance, participation in 401K, net is about $2400 per month. How would you expect to save $1000 per month from this? You do the math. Anyway, that’s all I have to say on this matter, readers can deduce for themselves”.</p>
<p>One, $2400 per month net implies only taking home 57.6% of gross salary, which seems somewhat low to me; especially out of NY. However, $900 per month rent and $500 per month in personal expenses gets you to saving $1000 per month in that scenario. If your salary is only $50K a year, you’re probably not spending NYC level rents or expenses.</p>