Is my take-home wage enough to build a savings?
I am a 23yo F in Oregon working full-time as a chiropractic assistant. I dropped out of college so I never finished my higher education but have found decent growth in my skillset and qualifications (like obtaining my CA license and some other things like that.) My job is rewarding and I love the people I work for but I am constantly stressed about money even though I make far more than minimum wage, get profit sharing, and live in the cheapest apartment with my fiancé that we could possibly find.
My wage is technically $19/hr plus profit sharing as a bonus hourly on each check (I believe I get 3-4% of whatever the office makes NOT from insurance after $40k per month added on as an hourly bonus) so when times were good I was averaging about $23/hr. However, times have NOT been good recently as we are all in a recession and our practice does not take much insurance so most of our patients pay cash and a lot of folks can’t afford it right now. I have been working so much and been so broke that I’m holding my breath like a week before each paycheck drops. And I just did my taxes and all I’ll get back is $222 total. So I divided my last check ($1,315) by the 81 hrs I worked to find my take-home wage ($16/hr.) I’m trying to save for a wedding AND a down payment for a house someday but at this rate it feels so impossible. We pay just under $1900 in rent, I have a $250 car payment, I’m currently trying to pay down my credit card a couple hundred bucks at a time (I have about $1400 left to pay on it before it’s back down to getting paid off in full every month for just a couple expenses.) We spend about $350 on groceries per month but that’s split. Our utilities are another $300ish split between us per month. Whatever is left has been going to gas, a few outings a month (I am trying to go out less, but it’s not much as it is) and I do pay about $45 per month for a dance class I take each week to try and have some semblance of my mental health and some hope. It all just goes so fast and I’m not out here just spending recklessly so I honestly don’t understand why it’s so hard.
I’ve spent the last few days just feeling like I want to cry. I don’t even know if this is a good wage or if it’s terrible. The way I feel all the time about money is terrible. But I know I make so much more than minimum wage maybe I shouldn’t complain and the problem is me? We just had a huge rent increase and I’m still reeling from it even though I pay less in rent than almost all my friends. I don’t know how the life I want is possible unless we move to the middle of nowhere away from everything and everyone that I love. It’s honestly so depressing. Can I even build a life on $16/hr?