Costs of Living in USA

A Brief Introduction
Everything comes with a cost, sometimes to keep up the value and sometimes a price you pay for
getting that.

Some things in life come with an objective to get you somewhere up in the sky, to add in to your
valuable property of experiences and to remind you of all that you desired for and so have been putting
efforts into it.

USA is a dream escape for people who have been longing for change, change that brings freedom and
joy. It introduces to numerable experiences of the fascinating lights of New-York, the beauty of LA, the
mountains of California, the snow and rain in Seattle and a wish to achieve much advance and
professional work-life.

Whenever we plan a trip, picnic, party, anything, we first sum-up the budget, because we know that we
don’t want to collapse in that area. It’s like either we make up sufficient funds or we are withdrawing
the plan. Right!

Why is understanding the budget is so important?

We cannot exaggerate the fact enough, that how much everything is funds centric. All the course of your
action is actually determined by the assertion of how much you actually want to spend on it. It would
not be wrong to put the fact “Money determines your action” on the table considering the time we are
living in.

You are never without a cost anywhere. It’s always in a form of your earnings, expenses, savings or
borrowings, in extreme cases looting (Just kidding). If you have enough, you make it, if you have slightly
less, you manage it here and there, when you don’t have resources, but endow a lot of passion, you
borrow and for looting, it happens to them who are either too hungry or just too alone because they
feel like there’s no other way. Any of the following you pick, you are in need to pay off the cost anyways.

It is very crucial to understand where you are in life and how much you are ready to spend and bear,
financially. A bad cost planning always leads to multiple collapsing moments.

We at Hoopers want to make sure that you do not miss out on understanding your budget, determining
costs because we don’t want to give you a reason to collapse or feel stuck.

At our service center, we do have financial consulting periods and planning so for much close
understanding you can visit us, in case you are planning to migrate.

For, now we will guide a little-bit for understanding, planning and implementing your budget while
practicing a life-style in USA.
Before we guide you in planning your financial life in the US, we will take you to various stages of life for
people at various levels. We want to be a help for all.

Cost of Living in USA (Student’s Guide)

As a student you are found juggling between “being a single stomach to feed” and “still young to go out
and live by yourself” and this is especially for Indian students.

You are migrating to US for a sole purpose to attend the university in US, graduate and seek for yourself
a good professional life.

While you are about to migrate or in the process, you must have been thinking about how much you
would require living in US. This comes under two scenarios, either you have taken financial aid or you
have enough to help yourself financially.

When you have taken financial aid (We at Hoopers do assist you with 100% financial aid without fuss),
you need to do intense budget planning. You have two kinds of expenses being a student, tuition fee of
the college or university and your own monthly expenses. We have discussed a lot about how Hoopers
can help you to cut down on your tuition fee, earning scholarship and much more, so do check that out,
now the next one is your monthly stipend. You can manage your monthly expenses by following these
steps:

Get yourself a studio apartment and share it, it would cost you less than 200 USD on an average.

Prepare your own meals and restrict eating out a lot, it will preserve your health and wealth. This will
cost you around 300 USD per month with proper good home-cooked meal.

Your electricity bill, water bill, gas expenses, cable and internet charges will cost you 120 USD approx.

The miscellaneous expenses like clothing, eating out sometimes, spa etc will cost you around 150USD if
conscious.

So total you need 800 USD average per month. It can be 500USD when living in places like
Texas and 1000USD when living in places like New York. Don’t you feel like you can get the
dynamics right by cutting out extra expenses? Above these you also would be able to make
1500 USD per month, again approx by your part-time jobs. Keeping extra in your purse is
intelligent but most probably you would be able to make more than you spend on life-style.
You can save it and use it judiciously somewhere else.

Now, for students who are blessed with wealth, you can spend according to your budget. Like,
sometimes, you have just enough, in that case use that money for your tuition fee and part-time will
suffice your lifestyle. If your parents allow you a monthly stipend of 2000 USD, you can:

Get a good apartment

Eat out more often

Go for shopping weekly

Ultimately, you hold a choice to do as you want and as your situation allows. There’s nothing right or
wrong in this, it’s just the matter of what you are capable of! If you are insecure that the other has more
than you, satisfy looking at someone who has less than you because there are people of every kind. Be
optimistic and hardworking about good times to come.

Hope, we gave you a brief estimation of cost as a student in US.

Cost of Living in USA as a Professional or with Family

When we talk about this scenario, we simply mean that you are a young working adult, working in the
US, settling with your partner or kids in some cases.

Now, that you have family your expenses will rise, let’s see this under different circumstances:

When you are living with your partner and are the only one earning
If you migrating to US for work purpose with your better half, and only one of you is the earning
member, then we will give you an estimate of your budget:

You would need a slightly bigger place to call your home, the rent of which might cost you 1000 USD per
month. It’s an average estimate.

Your grocery, dining out and all about food will cost you 600 USD, living with satiety.

Your miscellaneous expense figures are in your hands. Let’s assume you will spend 1/5 th of your income
on luxury.

The average salary in US is 40000 to 50000 USD per annum. So, per month you will earn 4100 USD, 1000
would go for rent, 600 for grocery and 800 for luxury. So your budget data says that:

You will spend half your earnings

You will save the other half

You will have a pretty comfortable life.

The figures can change slightly if you are living in a slightly expensive or cheap area. Also, it can fluctuate
with change in income. We are talking for everyone so we will stick to average numbers.

When you are living with partner who is also working

There’s not much change here, considering the fact that both of you will eat the same even if one would
earn. The only thing where change can be expected is the savings and luxury corner.
Economics says that the expenditure increases with increase in income to a certain point and then
becomes saturated. Another big improvement would be your savings as savings also increase with
increase in income.

So, yes these are the area of changes in this case when compared to another.

Expenses of a family with one member earning

With kids comes the responsibility to serve them right till they become capable.

In this scenario, your expenses will rise leading to less savings. You would need a big area to live. Your
rent would cost you 2000 USD per month, grocery will go to 1000 USD per month. Your miscellaneous
expenses include kids pocket money, their clothes and expenses and more. So in this case, your income
would be just sufficient to lead a comfortable life but not a luxury of saving more.

Two Earning Members in a Family of Four

In this case, you would enjoy more luxury with an advantage of saving more.

One person’s income can be spent and other’s can be entirely saved.

The figures would remain the same with slight bit of adjustments like visiting for outings more often,
buying more etc.

Note
You are also going to pay for your medical in USA on a yearly basis which you need to deduct from your
annual income. Do not miss out on that.

We have given you a budget frame for all kinds of situations and scenario we could think of, which must
have given you an idea of your financial activity while living in United States of America.

Points to remember:
Your Standard of Living is determined by your Income. The Basic standard of living in US is a comfortable
life with less saving. You can use your own strategy while planning yours.

The Cheapest cities in the US include OHAMA, LOUISVILLE, LAS VEGAS etc.

The expensive cities include New York City, Los Angles, Seattle etc.

How can Hoopers help you?

We at Hoopers have a complete set of services offered for students who want to migrate to US for their
higher studies. From career counseling to financial aid, we help you with everything.
We also help you with your dream of working abroad.

So, feel free to reach out to us in case you need wings attached to fly high!

Conclusion
A good financial planning can ease out a large portion of your stress graphics.

In this blog we have tried covering as much as we could to help you think of your finances. We have
given you reasons, specifications and solutions to start with your planning with ease today.

This blog accurate the minute details while you do your calculations.

Hope, you found this helpful! For superior advice and planning contact Hoopers Group in Hydrabad,
Telangana, in Vijayawada.