The economy in my state is considered middle-tier, comparable to Shanxi and Hubei in China. A master's graduate from a local university earns a monthly income of $5,500 (after tax).
In the first year, I bought a new Honda Accord, which, including insurance and registration, totaled $14,000. For the first three years, I rented an apartment, and after saving $150,000, I made a down payment to buy a house, which came with free renovations (Americans generally do not care about renovations; newly purchased houses often come with furniture and carpets, and they do not remodel). I now pay $3,200 monthly, and the total cost of the house, including monthly interest, is $280,000. It is a typical single-story house, approximately 200 square meters, with a small yard that can accommodate three cars. After paying off the mortgage in three and a half years, I received a 9% tax reduction (owning property in the United States allows for tax deductions). Currently, my income tax rate is 17%. Roughly calculating, it took six years from starting work to paying off the housing loan; of course, the initial six years were under loan pressure, and life was quite frugal.
Currently, based on a monthly income of $6,500, I pay a total of $540 for health, retirement, and vehicle insurance, and about $200 for car maintenance (due to abundant oil reserves, gas prices here are relatively low at $1.79 per gallon, equivalent to 3.23 RMB per liter). Monthly expenses for food, entertainment, and leisure are around $700. I usually eat lunch at nearby restaurants and sometimes go to bars and bowling alleys in the evening. Electricity costs about $50 to $60, internet $30, cable TV $20, and water is free. My mobile phone plan is $30 per month, with free calls nationwide after 8 PM and on weekends (including landlines), and a limit of 700 minutes during the day. Additionally, I donate about $200 each month to the church and charitable organizations (to accumulate good karma).
By the end of the year, I have approximately $40,000 left over. I spend over $2,000 on a trip back home for Christmas, plus $1,000 for one to two annual vacations and out-of-state travel. At the end of the year, I will have a surplus of $35,000. My level of spending is considered middle to upper class; if I were to be more frugal, I could save even more.