If by your question above you mean 4800 dollars "SALARY" which translates to roughly 17,000 riyals the you can get access to loan for :Good house and good car,medicals good food, Good holidays. Unless you mean something esle when you say "good life", in any case i guess the answer to your question is YES!
But if by your question above you mean 4800 dollars "ALLOWANCE", Then whatever your salary is. the answer to your question is YES! YES!! YES!!!
......GOOD LUCK!!!