Personal Consumer Issues • California weather in a lower cost of living area

One option is to choose coastal California, for the climate and other advantages, but to accept a lower standard of living, especially as it pertains to real estate. I live in coastal CA but I rent a one-bedroom apartment that I’ve been in for 15 years and drive an 18-year-old Toyota. If I lived in New Mexico, which I like, I’d have a big house and a new car. I’m happy with the tradeoff, at least for now. Others may weigh this tradeoff differently. Other than compromising on real estate, the only expense that really affects me is state income taxes, but my salary is also higher than it would be if I lived in a lower cost of living area, and philosophically I support progressive taxation. Groceries, eating out, and services are expensive, but I’m fortunate to have enough income to not have to crimp my lifestyle on these things.

Rent: <$1500/month
Auto insurance: <$1000 a year
Renter’s insurance: about $200/year
Electricity: about $150/month
Car payment: $0
Property taxes: $0
Gas: a lot, but I drive less than 2000 miles a year (this climate is for walking), and my partner has an EV
State income taxes: 9.3%

Statistics: Posted by jaMichael — Sat Jul 13, 2024 9:02 am — Replies 48 — Views 2929

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