Is $ 60,000 H1B salary good enough???

USA H1B Visa
1

Hi,

I had my H1B visa stamped. I will be travelling to US in the 1st week of November. I will be working in New Jersey. My total salary is $ 60,000. I am a bachelor.




	I wanted to know how much i will get in hand after all the tax removed. Please note that i wont be doing any tax savings. I just want to know the final takeaway i will have per month.

	I wanted to know how much will the expenses be per month i.e. rent?, food?, travel?, miscellaneous? (I hope i have covered all the expenses). I will want to share a single room in an apartment/house. I will cook my own food 80% of the time. I will use public transport for travelling. Please tell me the break down of each of these. It will help me a lot.


I want to save $2000 per month because of personal needs. Please tell me whether i will be able to do the same with the salary and expenses.



Thanks
2

Can someone answer this question please

3

You could get net amount of around $3,600 per month. You can check on Paycheckcity.com for the break up.

I do not know the exact numbers in New Jersey…But, in general, yes, you can save that much, if you do not own a car and share an apartment with others, including cooking food on your own. You should avoid travel and other expenses…

4

Hey congrats, welcome. 60 K permonth is quite good to survive and save since u r bachelor!!!

Major expense in tristate area is

  1. Rent (since u will be in sharing basis. ur cost will reduce to 50 % say $400 to $500) including most of groceries.

  2. Here its highly tough to survive without car (just think in india if only 10 buses runs in a city !!!) since US is vast land… for each and every thing u need car, good thing here is that cars are affordable and Car insurance

  3. Health Insurance is costly. which hughly depends on which firm u r going to work and there policy.

  4. im listing out expenses may or may not be accurate but 90 % it will be like this…

rent - 300 to 500 $, car emi is 250 $, insurance 100 to 250 $ , mobile 20 to 40 $, gasoline 100 $, grocery : 100 $, outside food : 100 $, Entertainment (occasionally) 100 $, Rest to INDIA. you can easily save 1000 to 1500 per month. extra saving depends on individual and remember this country will not allow u to save completly unless other wise you are strictly orthodox. hope gave some light to ur doubts… tk