Comments on: Start Me Up http://thebudgetingbabe.com/2007/08/27/start-me-up/ A personal finance blog for career minded women with small budgets and big dreams. Sun, 05 Aug 2012 15:47:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Anonymous http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2316 Anonymous Sun, 18 Nov 2007 14:06:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2316 I agree with you completely. I'm 30 years old and live in Manhattan. I make at least 10 times the average salary people in places like St. Louis make but my expenses are not nearly 10 times as high. Sure real estate is expensive but I don't pay 10 times more for a gallon of milk or 10 times more for my monthly cable and cellphone bills. Most of my expenses wouldn't be much different if I lived in St. Louis but my salary would be 1/10th of what it is here. Housing is expensive here, but it's not as bad as people make it out to be. First of all if you do buy, sure you'll be spending more, but it goes into building equity in the most stable real estate market in the country. Even in the current downturn, Manhattan is one of the few places where prices are still going up. <br/><br/>More importantly than the financial benefits though of living in a big city are things like career and entertainment. Careerwise the possibilities in a place like Manhattan are limitless and you're exposed to the most successful people in various industries on a daily basis. The city is chock full of over-achievers, that rubs off on you. Then on the entertainment and cultural side you are in the center of the greatest options in the country. 24/7 there are tons of things going on. What can you do in St. Louis? Go to a movie? Can you go to any one of hundreds of Broadway and off-Broadway shows? Can you go see great concerts any night? Can you go to one of any of the thousands of bars/lounges with live jazz, rock, big band, or any other type of music? I've lived in Manhattan for the past 8 years since I graduated from college and I still have probably only experienced 1% of it even though I go out all the time. I've lived in cities similar to St. Louis and in a nutshell - THEY ARE BORING. I agree with you completely. I’m 30 years old and live in Manhattan. I make at least 10 times the average salary people in places like St. Louis make but my expenses are not nearly 10 times as high. Sure real estate is expensive but I don’t pay 10 times more for a gallon of milk or 10 times more for my monthly cable and cellphone bills. Most of my expenses wouldn’t be much different if I lived in St. Louis but my salary would be 1/10th of what it is here. Housing is expensive here, but it’s not as bad as people make it out to be. First of all if you do buy, sure you’ll be spending more, but it goes into building equity in the most stable real estate market in the country. Even in the current downturn, Manhattan is one of the few places where prices are still going up.

More importantly than the financial benefits though of living in a big city are things like career and entertainment. Careerwise the possibilities in a place like Manhattan are limitless and you’re exposed to the most successful people in various industries on a daily basis. The city is chock full of over-achievers, that rubs off on you. Then on the entertainment and cultural side you are in the center of the greatest options in the country. 24/7 there are tons of things going on. What can you do in St. Louis? Go to a movie? Can you go to any one of hundreds of Broadway and off-Broadway shows? Can you go see great concerts any night? Can you go to one of any of the thousands of bars/lounges with live jazz, rock, big band, or any other type of music? I’ve lived in Manhattan for the past 8 years since I graduated from college and I still have probably only experienced 1% of it even though I go out all the time. I’ve lived in cities similar to St. Louis and in a nutshell – THEY ARE BORING.

]]> By: Frags http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2202 Frags Thu, 30 Aug 2007 23:10:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2202 plus, i would be really, really sad if you moved away! Love ya! plus, i would be really, really sad if you moved away! Love ya!

]]> By: MONEY BLUE BOOK http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2199 MONEY BLUE BOOK Wed, 29 Aug 2007 19:14:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2199 You're lucky you live in the Chicago area and not in a truly expensive area like L.A., New York, or even D.C. People in the south and midwest really have it good...a nice 1 bedroom condo for less than $350,000...wish there was one in my area!<br/><br/><b>-Raymond (MONEY BLUE BOOK)</b> You’re lucky you live in the Chicago area and not in a truly expensive area like L.A., New York, or even D.C. People in the south and midwest really have it good…a nice 1 bedroom condo for less than $350,000…wish there was one in my area!

-Raymond (MONEY BLUE BOOK)

]]> By: H Lee D http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2197 H Lee D Tue, 28 Aug 2007 07:54:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2197 I moved cross country four years ago and am still feeling the effects of not having the contacts that I had. That is definitely worth starting where you want to end up!! I moved cross country four years ago and am still feeling the effects of not having the contacts that I had. That is definitely worth starting where you want to end up!!

]]> By: MEG http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2196 MEG Mon, 27 Aug 2007 23:12:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2196 PS-I love your blog! This was my first visit, and I'm going to subscribe put a link to your site on my blog. Keep up the good work!! PS-I love your blog! This was my first visit, and I’m going to subscribe put a link to your site on my blog. Keep up the good work!!

]]> By: MEG http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2195 MEG Mon, 27 Aug 2007 23:09:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2195 Great post! I live in a large city in TX was able to afford a condo right uptown just out of college. My friends who moved to Chicago and NY are paying rent that exceeds my whole cost of ownership--and they probably aren't maxing out any Roth IRAs either. Then again if I still lived where I grew up in AL, I could afford a 5 bedroom house on a whole acre for what I pay for this tiny condo. <br/><br/>But lifestyle is important too. There are always trade-offs that have to be made. <br/><br/>But remember, cities like Atlanta, Birmingham, Dallas, Charlotte, Richmond, have thriving financial districts, cultural centers, and all the resources and jobs of any metro--but the cost of living is MUCH lower than a San Francisco or Seattle. <br/><br/>Bottom line, if you are struggling, on welfare and/or just can't make ends meet, then don't complain if you live in an expensive city like NY or LA. There's a whole America out there where you can afford to own a home and fund your own retirement--even on minimum wage. Great post! I live in a large city in TX was able to afford a condo right uptown just out of college. My friends who moved to Chicago and NY are paying rent that exceeds my whole cost of ownership–and they probably aren’t maxing out any Roth IRAs either. Then again if I still lived where I grew up in AL, I could afford a 5 bedroom house on a whole acre for what I pay for this tiny condo.

But lifestyle is important too. There are always trade-offs that have to be made.

But remember, cities like Atlanta, Birmingham, Dallas, Charlotte, Richmond, have thriving financial districts, cultural centers, and all the resources and jobs of any metro–but the cost of living is MUCH lower than a San Francisco or Seattle.

Bottom line, if you are struggling, on welfare and/or just can’t make ends meet, then don’t complain if you live in an expensive city like NY or LA. There’s a whole America out there where you can afford to own a home and fund your own retirement–even on minimum wage.

]]> By: Lazy Man and Money http://thebudgetingbabe.com/2007/08/27/start-me-up/#comment-2194 Lazy Man and Money Mon, 27 Aug 2007 20:08:00 +0000 http://thebudgetingbabe.com/?p=311#comment-2194 I was surprised by the few inconsistancies in the article. I'm from the San Francisco Bay Area and at 31, I'm doing more than fine. We moved from Boston, another expensive place, and our rent is just slightly larger. The salaries for my particular profession, software engineer, are huge. We might be part of the minority, but both me and my wife receive significant housing subsidies to live here. It is true that the cost BUYING housing makes the gain in salary moot, but if you intend to rent, it's extremely easy. Since salaries are more, use the difference to invest and you can do well. We continue to keep investment properties in Boston, so if the real estate market does continue to rise, or if we feel that we want to live in a place we own, we can go back. <br/><br/>The other thing that struck me is that she said that groceries were eating her alive in Palo Alto. There's a WalMart in Mountain View (about a 10 minute drive) and numerous small discount groceries. Last year after driving across the nation, I found that a 2-liter of Diet Sam's Choice was 58 cents whether it was in the Boston suburbs, Wyoming, or San Francisco. You have to do more planning in the bay area, but if you do, I think you can come out way ahead.<br/><br/>I think everyone has to evaluate it themselves and I think you did a great job of that here. I was surprised by the few inconsistancies in the article. I’m from the San Francisco Bay Area and at 31, I’m doing more than fine. We moved from Boston, another expensive place, and our rent is just slightly larger. The salaries for my particular profession, software engineer, are huge. We might be part of the minority, but both me and my wife receive significant housing subsidies to live here. It is true that the cost BUYING housing makes the gain in salary moot, but if you intend to rent, it’s extremely easy. Since salaries are more, use the difference to invest and you can do well. We continue to keep investment properties in Boston, so if the real estate market does continue to rise, or if we feel that we want to live in a place we own, we can go back.

The other thing that struck me is that she said that groceries were eating her alive in Palo Alto. There’s a WalMart in Mountain View (about a 10 minute drive) and numerous small discount groceries. Last year after driving across the nation, I found that a 2-liter of Diet Sam’s Choice was 58 cents whether it was in the Boston suburbs, Wyoming, or San Francisco. You have to do more planning in the bay area, but if you do, I think you can come out way ahead.

I think everyone has to evaluate it themselves and I think you did a great job of that here.

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