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Net salary is your take home salary after paying Federal, State and payroll taxes, which include payments to social security and Medicare. You can also factor in your 401K contribution and cost of health insurance. This may help you budget and plan your finances.
Here are three examples showing the monthly net pay after above mentioned deductions at:
|Annual Gross Pay||$25,000||$45,000||$65,000|
|Monthly Net Pay||$1,500||$2,500||$3,500|
According to BostonForRent, renting a 2 bedroom apartment in selected areas around Boston costs:
Payscale: You can use the Cost of Living Calculator to determine how the cost of living varies among US cities.
MoneyFor 20's: This website has a series of articles on basic financial decisions for new grads. Under “Must Reads,” choose “Beginning Finances,” to read the article, Basic Financial Decisions: Seven Financial Points Every New Grad Should Understand. Topics include: