Quick Answer: Is 45k A Good Salary?

Is 42k a year a good salary UK?

Ultimately yes is a good salary but it does depend on children and how much you like to save and what your tastes for living are or become.

In the UK, the average salary for people in full time work is £35,423, so £42k should leave you comfortable but not well off..

How much money do you need to live comfortably for the rest of your life?

According to a new survey from Charles Schwab, Americans say it takes an average of $2.4 million to be considered “wealthy.” As for how much it takes to be “financially comfortable,” survey respondents say it’s an average of $1.1 million.

What can I afford making 40k a year?

The first is that your gross monthly income should be greater than or equal to three times the cost of rent. So, if you make $40,000 per year, you would be able to afford rent up to $1,111.11. … We recommend that your rent should not be more than 25% of your net income. In other words, 25% of your take home pay.

Is 80k a lot of money?

If you are living in a rural area, especially on the south or midwestern US, 80K is pretty good salary. … Some careers offer 80K as a starting salary, but on average it will take a good few years of work experience, higher education, or at least a manager level job, to make that money.

What is 45k salary?

Yearly / Monthly / Weekly / Hourly Converter If you make $45,000 per year, your hourly salary would be $23.08. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 37.5 hours a week.

Is 40k pounds a good salary?

Yes it is. With a 40,000 salary you can afford to indulge in some upmarket housing. Rent and utility bills are likely to cost you the most while living in London (this again depends on the zone you choose to reside in). Living expenses apart, your transportation and food costs shouldn’t trouble you too much either.

Can you live in LA on 40000 a year?

A 40k salary won’t get you very far in a pricey city like LA. Buying a house is probably out of the question, unless you want some house in really bad condition that you are willing to put a lot of time into renovating. Probably you would be better off renting a studio or 1 bedroom.

Can you live on 35k a year?

The Social Security Administration states the average American salary is $50,321.89. If you’re like me, your annual household income is below this mark. Even as a married person with two children, we are able to thrive on $35,000 a year without living paycheck to paycheck.

Is 40k a year good for one person?

21k+ is a very good salary, 40k is excellent. If you’re in a typical household with two people and two kids, earning 18-21k, then you are able to live comfortably – so 40k from two earners would give you a very nice lifestyle. If you’re single and earning 21k+ then you can live very comfortably.