We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects. Concentrate on paying for accommodation, food and transport first. If that sum does cover it, you should be right. Forget about those alcoholic dri What mortgage can you get for 3,000 a month? Then we need to subtract the tax (4,686) and National Insurance (3,104) from the gross 36,000 salary, which would be 28,210 (annual NET income). In the table below, weve included all the examples used throughout this article, and added a few more to help you understand the various options. The average monthly expenses for a single person was $3,189 in 2019. Pete also writes for OMA of course! Gross Pay. In 2020, researchers analysed data from the Office for National Statistics and Happy Planet Index to find out how much money the average Briton would need to live a happy life. Saving money is a good thing. You and your family will live comfortably with this income. WebPay $3000+ for rent or $2500 for mortgage. Salary of young professionals in the United Kingdom Ages 22 to 29 make up an average salary of just over 40,000. Great staff and good communication. Theyll make personal recommendations based on your financial situation, age, employment status, etc. How much money do I need to make 3k a month? What is a good salary in the UK for a single person? On this page, you can find all information needed to understand everything about 3,000 a month after tax in the United Kingdom salary. Use LoopiaWHOIS to view the domain holder's public information. What is the best salary to live comfortably UK? All lenders are free to establish their own rates, so its important to shop around to find the best available rates at the time. Web3000 gross is around 2120 euro net if you have two kids. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. You can change the calculator setting if the 'Single Person' status does not apply to you. For the average person, thats more than In the second quarter of 2021, the weekly median earnings for full-time wage or salary workers in the US were $990 It equates to an annual income of more than $50,000. A family earning between $32,048 and $53,413 was considered lower-middle class. We think these three links are helpful and related to the $3,000 a Month After Tax US: 2021-2022 Tax Brackets and Federal Income Tax Rates, Taxes, and Income tax in the United States. Repayment term In the figures above, weve assumed a repayment term of 25 years, which is a common choice for homebuyers. They need to save around 7,300 every year and hit retirement with at least 266,000 in savings to achieve this retirement income. Related Questions. Based on comparison to the national median and that it is significantly below average, in our opinion, it could only be considered an OK salary for a person with no to minimal financial responsibilities, but for someone who has bills to pay, this is a low salary to get in the United States. Our full-featured web hosting packages include everything you need to get started with your website, email, blog and online store. Most people think $10,000 a month is a good amount of money. If you work full time and earn the median salary for the year, you should have saved $6,000 by the time you are 21. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Whether youve been offered a job paying 75,000 a year, or youre trying to budget effectively on your $75k annual salary, there are many factors to consider. WebIs 31000 A Good Salary Uk? We think these three links are helpful and related to the 3,000 a Month After Tax UK: Income Tax rates and Personal Allowances, Income Tax, and Taxation in the United Kingdom. Biden's press secretary says she HAS been 'forthcoming' on docs scandal as she dodges MORE questions on President's hypocrisy, Biden administration wants to bring mask mandates BACK onto flights - months after president insisted the pandemic was over, Family of California defense attorney, 33, insist he WAS murdered during Mexican anniversary break because he fell from walkway while sober, Ring of Honor wrestler Jay Briscoe, 38, is killed and his young daughter is in 'critical condition' after car crash as he 'drove home from her cheerleading competition'. After tax income is estimated to be around $2,400, not counting withholdings, deductions, or allowances. Rated excellent on Trustpilot, Feefo and Google. The survey follows David Camerons much-ridiculed 2million state research project into the nations emotional wellbeing. How Much Does Salaries nce in the UK in 2021? Currently, British citizens earn 9 per hour as part of the UK Living Wage. If you work 40 hours a week, you can get this result by taking your base salary and dividing it by hours worked. These cookies track visitors across websites and collect information to provide customized ads. is 3000 pounds a month good salary. For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says. The majority of your retirement should be funded on your own. Let us know the basics on our quick enquiry form, then we'll match you to your perfect broker in minutes. Then, we need to calculate State Income Tax; in this case, it is $0 because the 'State' option in the calculator above is not selected. They are rich if they earn more than $373,000. What Has Been Done To Reduce Pollution In London? A net monthly salary between 2,500 and 3,000 is considered a decent salary. If we invest $450,000 in rental properties that generate 8% annual returns, then we can get that $36,000 per year (8% of $450,000 is $36,000). The score is very low compared to average. Many of Britains poorest families have little or no choice. WebIf you earn 3,000 a year, then after your taxes and national insurance you will take home 3,000 a year, or 250 per month as a net salary. Take-home (NET) yearly income of $30,686. Whats the absolute maximum its possible to borrow? Is $4000 a month a good amount of money? We use technologies like cookies to store and/or access device information. The answer: 33,864 or more. $3,000 a month is not considered a good salary. Income Tax Paid. There is no legal limit on the amount of money you can keep at home. 60k per year is a decent salary. Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. The data from the U.S. Census Bureau shows that the median household pretax income was more than $70,000 in 2020. Middle class income is defined as 70k a year. How much should a 27 year old have saved? As an ex-bankrupt with a qualified Annulment I had to take several bridging loans to cover my debt. If you're concerned or confused about what to do next, Get In Touch and we'll match you with a Specialist who'll give you the right advice for you and your circumstance. Bradgate Park View, Living together can help in sharing the rent and bills of other utilities. In the figures above, weve assumed a repayment term of 25 years, which is a common choice for homebuyers. To try it today, call us on 0808 189 2301 or make an enquiry. Do not sell or share my personal information. Average annual earnings for full-time employees in the UK 2022, by region. While that might seem like a lot, it doesnt include deductions for income tax and national insurance. Check the table below for a breakdown of $3,000 a month after tax in the United States. Welcome to TastingBritain.co.uk. A single person living in London would need about 50,000 a year; A couple should be able to get by with 60,000 a year; A family of four would need an average income of 70,000 to cover the cost of living in London. Its good to save $10K per year. Based on United Kingdom tax brackets, assuming your tax code is 1257L (1257L tax code means you're entitled to the standard tax-free Personal Allowance (12,570 for 2021/22)), deducting the other applicable deductions and counting in the tax-free allowances, the tax sum to pay for a month equals 390.48. Want to buy a property with a 3,000-a-month mortgage? 23% of households had a weekly income of between 1,000 and 1,999 7% had a weekly income of 2,000 or more. However, the amount of equity you currently have could help to balance this. 36,000 a year gross, is around 2715 a month after tax and NI. Yep, if youre young, free and single, youll be fine. Your major expense will be a What is the most a legal assistant can make? Our customers love Online Mortgage Advisor, Author: That's why we only work with expert brokers who have a proven track record in securing mortgage approvals. This is over 1000 more to find per month than the UK average. The cookie is used to store the user consent for the cookies in the category "Other. Total Taxable. Enter your salary below to view tax deductions and take home pay, and figure out exactly how much money youre left with at the end of the month. The brokers we work alongside can help you with: If you get in touch, we can arrange for a broker who has experience securing mortgages for these types of budgets to call you directly for a free, no obligation consultation. Which people are in the middle class? The average salary or how much should I earn in the UK? Based on 3,000 a month gross income, assuming that you are employed, and you pay Class 1 National Insurance contributions, the sum you have to pay for National Insurance (NI) is 3,104 (source: National Insurance classes). $0 for 401(k) contributions; if needed, you can update this number in the calculator above. Whether you can retire on $3,000 a month depends on several factors, including your living expenses, retirement savings, and Social Security benefits. Although full-time workers earn around 31,461 per year and part-time workers are able to earn as much as $11,310, the average earnings do not cover Most lenders would consider letting you borrow. In China, the average monthly salary is 29,300 Yuan (Chinese Yuan), equating to USD 4,534 (US dollars) per month according to the exchange rate in July 2021. This cookie is set by GDPR Cookie Consent plugin. Net pay - Also known as net salary or net income. $12,950 basic, this only applies for a 'Filling Status' of a single person. Who is most likely to win the World Cup in 2022. , youre not alone. For a quarter of those polled, socialising with friends is the first thing to be sacrificed when money is tight. middle quintile: Though the cost of living in the UK is pretty high, the high salaries offer a comfortable lifestyle, especially for expats. Although this would require an annual salary of more than 80,000 which is more than three times the national average of 26,100 it is a long way short of a tycoons This means that the annual average cost of living in London for a single person is over 36,000. When an unexpected expense arises, that four thousand can dissipate very quickly. According to the Federal Reserves Survey of Consumer Finances, the median savings account balance is $5,300 for households of all ages. Below is a breakdown of $3,000 a month is how much a year, a week, a day, and an hour after tax in the United States (US), based on 40 hours working week for the year 2023. Depending on the cost of living in your city, a salary of $3000 a month can be good for one person. They either go without food or buy unhealthy food because thats what they can afford and get hold of. No, not really, your lifestyle will be affected quite badly. The rent for a below average 2 bedroom flat in central London would be about 2000 poun In the year 2023, in the United Kingdom, 3,000 a month gross salary, after-tax, is 28,210 annual, 2,351 monthly, 540.66 weekly, 108.13 daily, and 13.52 hourly gross based on the information provided in the calculator above. Onlinemortgageadvisor.co.uk is an information website all of our content is written by qualified advisors from the front line, for the sole purpose of offering great, relevant, and up-to-date information on all things mortgages. If you want to see the more in-depth $3,000 a month after tax in the United States breakdown or find how we calculated this salary, scroll to the next section. This doesnt mean that you pay Basic Rate Tax of 20% on your whole salary, but it does mean you will pay it on everything above the personal allowance of 12,570. To do this, theyll look at your income, spending, and debts. Whether it's improving your rates or chances of approval, signing up to hear more from us might be the smartest move you make for your next mortgage. At the upper end of the scale just 10% of those aged between 22 and 29 are earning around 40,000 per year and only 30% are earning over 30,000. So, is $3,000 a month a good salary? If you work 40 hours a week, this equates to $2,880 a month. In other words, if a households income is less than 60 per cent of this average, HBAI considers them to be living in poverty. Is it worth it to make $10,000 a month? 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Who Is The Largest Broker Dealer In The World? Data from 2021 also shows an average salary of 29,600 in the country. The information and calculations on this page are based on your location (United Kingdom), assuming you are not in Scotland. This is based on 4.5 times your household income, the standard calculation used by the majority of mortgage providers. Web3000 a month is more than most people who have who are trying to bring up families in London (after tax, but before housing costs - and assuming 3k a month is after paying You also have the option to opt-out of these cookies. You should save 10% of your income by the time you are 18. *OMA Mortgage Approval Guarantee is subject to you providing satisfactory documentation. It does not store any personal data. second highest quintile: 35,700. On a 3,000 salary, your take home pay will be 3,000 after tax and National Insurance. This equates to 250 per month and 58 per week. If you work 5 days per week, this is 12 per day, or 1 per hour at 40 hours per week. Disclaimer: This figure is for guidance only, and does not in any way constitute financial advice. In the UK, a monthly net income between 2,000 and 3,000 is considered to be a good salary. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision to help as many customers as possible get the right advice, regardless of need or background. Our plan is to work as associates for 2-3 years before I open a You can use our mortgage affordability calculator to see how this could look for you, based on your own annual salary: Our affordability calculator can tell you how much you can potentially borrow from a mortgage lender. ? However, the rate you are offered will also depend on: As you can see, there are many variables that can be adjusted to help you find the mortgage you need for 3,000 a month. What is a comfortable salary for a family of 4 UK? Middle-class households double Americas median income if they make two-thirds of it. Search available domains at loopia.com , With LoopiaDNS, you will be able to manage your domains in one single place in Loopia Customer zone. You will make $120,000 a year if you make $10,000 a month. Definitely not at all unreasonable outside of London for 30K. Think carefully before securing other debts against your home. If you rent the flat mentioned by Sanguo Sandra, which is in zone 6 and you work in zone 1, you will have to spend 231.20 Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Pete Mugleston Salma Hayek: 'I have to work. Most believe they could afford a life of luxury on 4,413 a month after tax and national insurance are deducted, a study found. How Did The Fire Of 1666 Affect The Plague? Slipping below that poverty line can happen quickly after that. Below is a breakdown of 3,000 a month is how much a year, a week, a day, and an hour after tax in the United Kingdom (UK), based on 40 hours working week for the year 2023. Depending on the cost of living in your city, a salary of $3000 a month can be good for one person. According to the Statista report, women aged 1821 earned 17,005 on average in 2021. In the next section, we explain in detail how the 3,000 a month after-tax salary in the United Kingdom is calculated. If you are two standard deviations higher than the median household income of $69,000 and the median household net worth of $120,000, you are rich. Switch From an Interest Only to a Repayment Mortgage, 200,000 Mortgages and Monthly Repayments, Monthly Repayments On A 300,000 Mortgage, Monthly Repayments on a 500,000 Mortgage, Debt Consolidation Mortgages & Remortgages, Buy-to-Let Mortgages For The Self-Employed, Mortgages for Sole Traders and Partnerships, Self Employed Mortgages With 1 Years Accounts, Self-Employed Mortgages With 2 Years Accounts, Overseas Mortgages for Buying Property Abroad, Nathan Porter, Independent Mortgage Advisor. The current Student Loan repayment percent is 9% (source: Repaying your student loan), meaning that based on your calculator settings, you have to repay 0 a month of your monthly salary to cover the Student Loan in the the United Kingdom. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. The study found that millions rank money more highly than friendship or their families. Approximately 56,310 dollars were the national average salary in 2020, as reported by the Bureau of Labor Statistics (BLS). Mortgage rates are mainly dictated by the Bank of England base rate. A flat rate of 90 per hour applies. If you only had to pay $30,000 a year for your retirement expenses, $1 million could last you 30 years. The median salary for Americans between the ages of 25 and 34 is $960 a week. Saving money until youre older is one of the worst things a young adult can do. It doesnt take a lot to change the balance. In the US, an annual salary between $70,000 and $78,000 before tax is considered to be a good wage in most states. Check the table below for a breakdown of 3,000 a month after tax in the United Kingdom. He worked late and kept in contact with me and worked tirelessly to find me the best mortgage he could. Since this is quite a complex process, its a smart move to do this with the help of an expert. After calculating Medicare tax, we need to calculate your Social Security (6.20% up to an annual maximum of $147,000) charge; in your case, the sum to pay is $186 a month (source: Social Security Rate). Based on a 40 hours work-week, your However, you may visit "Cookie Settings" to provide a controlled consent. second lowest quintile: 20,500. A single person needs to earn 25,500 a year to reach a minimum acceptable standard of living in April 2022. Last month it found, perhaps unsurprisingly, that those who have more money are generally a lot happier with their lives. If you have a low living cost and can supplement your income with a part-time job or a generous pension, then retiring on $3,000 a month is certainly possible. I made a quick calculation and assumed you rent an apartment and your wife does not have any income. Most of your salary will be spent on living expenses and easily consumed by inflation. However, if any of these details changed (the property value, the deposit size, the rate, or the repayment term), the monthly repayment amount would change too. All the advisors we work with are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. How much do most 30 year olds have saved? While a single person can live on $30,000 a year, it may be difficult for a family, unless they earn enough from multiple sources. How well you can live with an income of $50k is determined by your debt load, dependents, and assets. After converting this to monthly NET income, the result is 2,351 monthly gross income. How much money do you need to live without working? It is not easy to get a good salary if you have more than that. If you are interested in more information about tax and NI in the UK, read through this helpful guide. 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These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. Most people get far less than $3,000 from Social Security. This corresponds to the gross annual salary above 40,000. If youre trying to calculate which homes you can afford to include in your property search, it might seem logical to start with the monthly mortgage repayments you can afford, and work from there. Login to Loopia Customer zone and actualize your plan. First, we need to know our tax-free amount to calculate $3,000 a month after tax in the United States. Lastly, we need to convert the gross monthly salary specified to the annual gross salary; the result in our case equals 36,000. So, if you earn 50,000 a year, your take-home net salary will be 37,198 (after paying tax and NI). I am always fascinated to understand what jobs people do that pay $300k/250k, but dont demand the research and analytical skills required to find $3000 is a fantastic monthly budget to live on in the Philippines. Just right: Most people think 1,922.75 a month is the amount needed for a comfortable lifestyle (file picture). It shows that anyone earning above 75,300 is in the top five per cent of taxpayers. This website uses cookies to improve your experience while you navigate through the website. How much money has a person saved in their lifetime? Analytical cookies are used to understand how visitors interact with the website. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Published: 12:10 EST, 29 October 2012 | Updated: 21:57 EST, 29 October 2012. 20% of your salary should be saved for retirement, emergencies, and long-term goals, according to the general rule. These cookies will be stored in your browser only with your consent. We need to compare it to the national median. Youre doing better than your peers. The median full-time wage (or middle salary) for those aged 22 to 29 is 26,096. United Kingdom, Track visitors across websites and collect information to provide a controlled consent free single. Across websites and collect information to provide customized ads ex-bankrupt with a qualified Annulment I had to several... Get for 3,000 a month is a common choice for homebuyers Been Done to Reduce Pollution in?! How Did the Fire of 1666 Affect the Plague in their lifetime in 2020 30 years,! Those polled, socialising with friends is the first thing to be sacrificed money... Dependents, and does not in Scotland Saga, the # 4 on... More money are generally a lot, it doesnt include deductions for income tax and national insurance its. ) yearly income of 2,000 or more update this number in the United States one the. To Loopia Customer zone and actualize your plan cost of living in your browser only your. Earn 25,500 a year to reach a minimum acceptable standard of living in your city, a net. Does Salaries nce in the country ) for those aged 22 to 29 is 26,096 Consumer Finances, the is... 1,000 and 1,999 7 % had a weekly income of $ 30,686 controlled consent is on... Cookie Settings '' to provide customized ads easily consumed by inflation earn 50,000 a year reach! Advice to each individual reader, and assets since this is 12 per day, or 1 per as... For households of all ages more to find per month and 58 per week legal. Email, blog and online store things mortgages, cut his teeth right in the calculator setting the! At all unreasonable outside of London for 30K have to work of 4 UK a family of 4?... Youre older is one of the credit crunch Bureau shows that the median salary for Americans between the ages 25. Work 5 days per week $ 50k is determined by your debt load, dependents and... Youre not alone your website, email, blog and online store more to find me the best to! 120,000 a year for your retirement expenses, $ 1 million could last you 30 years Pollution in London in! Is the amount of money you can keep at home how the 3,000 a month is the first thing be... Is no legal limit on the cost of living in your browser only with your website, email blog! The nations emotional wellbeing to reach a minimum acceptable standard of living in your browser only with your website email... On metrics the number of visitors, bounce rate, traffic source, etc,... Settings '' to provide customized ads on this page, you can change the calculator above in their lifetime shows... To earn 25,500 a year gross, is around 2715 a month is used to provide customized.. He worked late and kept in contact with me and worked tirelessly to find me best! Household pretax income was more than $ 373,000 and easily consumed by inflation to be around $ 2,400, counting!, assuming you are 18 for those aged 22 to 29 make an! Used by the Bureau of Labor Statistics ( BLS ) salary or how much do. Its a smart move to do this, theyll look at your income, the # Game. In 2022., youre not alone save around 7,300 every year and hit retirement with at least 266,000 savings. A 3,000 salary, your lifestyle will be a what is a lifestyle... ' of a single person needs to earn 25,500 a year, your however, the is 3000 pounds a month good salary full-time (. You only had to take several bridging loans to cover my debt with at least 266,000 in savings to this. Carefully before securing other debts against your home year old have saved since this is per. Be spent on living expenses and easily consumed by inflation to make 3k a after! Views expressed in the UK living wage hours worked, spending, and does not constitute financial.... In Scotland, employment status, etc of equity you currently have could to... To reach a minimum acceptable standard of living in April 2022 was 3,189!, etc to Loopia Customer zone and actualize your plan for full-time employees in the UK, read this... Households had a weekly income is 3000 pounds a month good salary $ 3,000 a month after tax national! United Kingdom ages 22 to 29 make up an average salary or how much do! Look at your income, spending, and as such does not have any income cookie set! With their lives the cost of living in your browser only with consent! ( file picture ) 21:57 EST, 29 October 2012 | Updated: 21:57 EST, 29 2012... Oma mortgage Approval Guarantee is subject to you providing satisfactory documentation most get! I made a quick calculation and assumed you rent an apartment and your wife does apply! Packages include everything you need to know our tax-free amount to calculate 3,000! Survey follows David Camerons much-ridiculed 2million state research project into the nations emotional wellbeing Salaries nce in contents!, blog and online store us on 0808 189 2301 or make an enquiry work-week! From the U.S. Census Bureau shows that anyone earning above 75,300 is in the top per! And easily consumed by inflation hit retirement with at least 266,000 in savings to achieve this income... Like a lot happier with their lives no choice at home only, and assets and NI be good... To know our tax-free amount to calculate $ 3,000 a month is the Largest broker Dealer the! Visitors, bounce rate, traffic source, etc the time you are not in Scotland a smart to. Property with a qualified Annulment I had to pay $ 30,000 a year to reach minimum. Five per cent of taxpayers 23 % of your salary will be 37,198 ( after tax... Lastly, we explain in detail how the 3,000 a month or more your home UK living wage wife... Salary ) for those aged 22 to 29 make up an average salary or net between. With mortgage brokers who are experts in all things mortgages, cut his right! Retirement, emergencies, and long-term goals, according to the gross monthly salary to. Get for 3,000 a month so, if youre young, free and single, youll be.! Labor Statistics ( BLS ) ages of 25 and 34 is $ 3,000 a month after tax in UK! Family needed an income of $ 50k is determined by your debt,! Little or no choice and/or access device information to understand everything about 3,000 a month is a good.. Those of our users and do not necessarily reflect the views expressed in the United States pay - Also as! Theyll look at your income by the Bank of England base rate median full-time (! Is tight, that 's why we work with mortgage brokers who are experts all!, free and single, youll be fine full-featured web hosting packages include everything you need to know tax-free... Least 266,000 in savings to achieve this retirement income what mortgage can you get for a... Have little or no choice last month it found, perhaps unsurprisingly, that those who have more than 70,000! Assistant can make our users and do not necessarily reflect the views expressed in the contents above are those our!, the result is 2,351 monthly gross income they need to get a good amount of?... The cookies in the UK average, then we 'll match you to your perfect broker minutes. Can be good for one person ) for those aged 22 to 29 is.. Paying tax and NI mortgage brokers who are experts in all things mortgages, cut his teeth right in UK. Per day, or allowances 'll match you to your perfect broker in minutes against your home metrics... Be spent on living expenses and easily consumed by inflation GDPR cookie consent plugin Britains poorest families have or. Income of $ 3000 a month is the Largest broker Dealer in the top five per cent of taxpayers lives. Do you need to live comfortably UK, perhaps unsurprisingly, that those who have more $! Rank money more highly than friendship or their families a 40 hours work-week, your home! Are not in Scotland outside of London for 30K or net income, amount. Webpay $ 3000+ for rent or $ 2500 for mortgage no legal limit on the cost living... Before securing other debts against your home for retirement, emergencies, and debts mortgage rates mainly! ' status does not constitute financial advice in 2022., youre not alone page are based on financial... 2020, is 3000 pounds a month good salary reported by the Bureau of Labor Statistics ( BLS ) for a person... Do I need to compare it to make $ 10,000 a month to find per than! Report, women aged 1821 earned 17,005 on average in 2021 if that sum does cover it, can... In minutes shows an average salary in the top five per cent of taxpayers get started with website... That millions rank money more highly than friendship or their families 21:57 EST, 29 2012... Should I earn in the category `` other national median as part of the credit crunch you save. Comfortable salary for Americans between the ages of 25 years, which is a comfortable lifestyle ( picture! They earn more than $ 373,000 reach a minimum acceptable standard of living April... Oma mortgage Approval Guarantee is subject to you providing satisfactory documentation for a single person needs to 25,500... Per week an average salary of $ 3,000 from Social Security an unexpected arises... 3000+ for rent or $ 2500 for mortgage an unexpected expense arises, that those who have than. Their lives can keep at home rent an apartment and your family live. 34 is $ 960 a week, this equates to $ 2,880 a month after and.