Do you remember when your third grade teacher asked you what you wanted to be when you grow up? Do you remember what you replied? Did you for once think about how much that job was going to pay or if you could make a living off of that job? My guess is probably not.

They say money can’t buy happiness, but as most Americans are finding, it does help to avoid misery. Take for example a Short Order Cook and a Podiatrist. On average a Short Order Cook makes $18,710.00 annually and a Podiatrist makes $118,500.00 annually. Now let’s compare salary to cost of living:

Monthly Bills

Mortgage/Rent w/ utilities: $1,000

Phone, Internet, Cable: $110.00

Cell Phone: $50.00

Groceries: $250.00

Car Payment: $200.00

Apartment Insurance: $13.00

Car Insurance: $125.00

Gas: $200.00

Education Bills: $200.00

Total: $2148.00

Without having budgeted in entertainment, medical bills, and other necessities, on the low end a Short Order Cook’s living expenses exceed their monthly salary by $588.83. Unless a Short Order Cook is working two jobs, by the end of the first year they will have accrued more than seven-thousand-dollars in debt.  Now compare that to a Podiatrist. If a Podiatrist chose to live as humbly as the Short Order Cook, not only would they be able to easily afford their monthly bills, but they would have an extra $7,728.00 to put away for a rainy day. To help put that into perspective, Podiatrists can pay off a Short Order Cook’s yearly debt in one month and still have money left over to enjoy.

While the above scenario was used simply for the purpose of comparing salaries to cost of living, millions of Americans are experiencing what its like to live in debt. While we would all like to wake up and go to work happy, most of us are unable to survive. So next time your child says they love to cook, try to turn them on to feet instead!

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