26-Year-Old Leaves A $60K Salary To Live Off Of $27K A Year In Seattle, But Feels 'Grateful'

It’s no secret that most teachers don’t make much money. Chi Baik, a 26-year-old teacher and Ph.D. student, is experiencing this firsthand in Seattle, Washington. 

Baik moved from the Washington D.C. area to Seattle to pursue her Ph.D. She expects to receive about $24,000 in funding while she gets her degree from the University of Washington or about $2,000 monthly, according to a recent profile from CNBC. Baik previously made an annual salary of $60,000 as a teacher.

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This is enough to help her cover the $1,157 rent that she pays for a 240-square-foot micro studio. For extra spending money, Baik picked up a job as a grader that she expects to bring in another $3,000. 

Despite the downsized living space and decrease in income, Baik feels grateful for her salary and place to live. 

“I feel very grateful that I’m making that much, that I have a home to live in, especially in Seattle,” Baik told CNBC. "The unhoused population is really large, and that makes me even more grateful for the money that I am making."

Baik is able to live in Seattle, a city with high living expenses, on $27,000 a year by maintaining a strict budget. She spent about $3,200 in January, with $1,200 or so going to rent, $800 to groceries and food, around $400 on transportation as well as some miscellaneous expenses.

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This story is part of a new series of features on the subject of success, Benzinga Inspire.

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