[ritchiea]

It is not at all the case that 5k doesn't do much. If you live somewhere relatively inexpensive in Brooklyn (or even Queens) & live reasonably you can cover most of your expenses for 3 months with 5k. If you are good at being frugal you could easily cover all your living expenses with 5k.

[pc86]

I've never lived in NYC so it's very possible I'm overestimating the COL based on being in Manhattan now and then.

[nicholasjbs]

For what it's worth, I (Hacker School founder) live off of about that much, though admittedly I live quite frugally.

($5k isn't enough to support a family, but it has been enough to make a difference for past alumni with families.)