The answer is no, you cannot afford that $575 1BR. Groceries/Food -$300 Maximum Rent -$740
So, I just got a new job for $16 an hour with working 32 hours, I’m looking to move out alone. Cell phone est. Less: Other deductions (health insurance, 401K, etc.) Here’s what your numbers looks like at $500 rent. Groceries/Food -$200 Savings (target 10% of take-home) -$225 Can I afford $1100 a month with probably $250+ for utilities? See below what other typical expenses you need to budget for when you live on your own. Savings (target 10% of take-home) $191 These cookies will be stored in your browser only with your consent. Laundry/dry cleaning est. Hours 40
Groceries/Food -$450 We are getting raises soon though and are wondering what our budget would look like. Student Loans $0
Car Insurance -$199 $80 Max. This might be a good approach to follow if you find yourself in between jobs at the moment. Credit Cards We calculated your pay on the lower hours, because the rent is do no matter how many hours you get a month. You’ll quickly see if you are able to move out. A roommate share would be a better option to start with. If you work 40hrs per week, that’s about $2,896/month before taxes.
We don’t have to put down a deposit because we are taking her parents apartment and we’re just using there’s (thank god, saves us $1k), Forgot I also have a $130 insurence my car also, that car payment likely would end up screwing you. credit card bill: $25 min.
Hi Joy, Hi! With your high fixed expenses, you will have hard time affording even a $250 a month roommate share, if one of those would be available. Est. First Apartment Budgeting Worksheet Water: $50/mo Less: Other deductions (health insurance, 401K, etc.) Another way to prevent getting this page in the future is to use Privacy Pass. From the sounds of it though, you might make enough to cover it, because part time work is usually around 20-25 hours per week.
Good luck! Laundry/dry cleaning est. $0 $629 Student Loan ???
Utilities, incl.
$50 internet Print out this budgeting worksheet to estimate how much rent you can afford. -$16 $0 As always, make sure to double-check the numbers below. $0 Laundry/Dry Cleaning -$40 (You should find out if you qualify for some rent assistance.) https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/. Savings (target 10% of take-home) -$100 Groceries/Food -$300 Does it show that you have enough money left over for food, clothing, commuting to work and all your other essential expenses. Car loan or lease payment -$480 Utilities, incl. Full time 40hrs week I bring how $902 every two weeks. I live in Chicago,IL. “My candle burns at both ends; Pretend that you have your own place and save all the moneys you’d spend living on your own. Student Loans $125) I work about 25 to 30 hours a week. Public transportation monthly pass (est. In nearly all the cases, landlords are somewhat dependent on the money they receive from renting out.
After tax take-home – GF $7,200, Per month take-home $2,333 Thank you, Hi Stefan, Per month take-home est. I get paid every week. $650 a month for car insurance and car payment Cash left for Discretionary Spending, if public transportation, Hi
-$2,272 Total/yr (50 wks paid) $25,500 Hi Teya, The only expense I have is food which I probably spend around $300 a month on, I do have a laptop bill of $262 a month but that’s ending in December. Monthly take-home pay (above /12) $1,270, Monthly Essential Living Expenses It shows that at your salary, with typical expenses, your max.
NO Car note, a two year old son and our phone bills come up to 110 altogether. taxes/deductions 25% ($8,100) Cash left for Discretionary Spending, if public transportation. Est.
-$150 In your case, with savings and no other bills, maybe you could stretch the rent to $750, but anything more would be precarious. rent -$1,500 Student loan $0 Good luck! Credit Cards
Groceries/food est. This category only includes cookies that ensures basic functionalities and security features of the website. Student Loans So i’m looking into a 1 bedroom but need to know how much I can afford on a one bedroom with my current expenses. Why is your car insurance so high?
Hi Lorenzo, Estimated annual take-home pay $17,000 You have basically chosen to spend your rent money on your car. Cell phone -$80
Hi Nadia, or Commuting est. Cash left for all other expenses/Month $362 Estimated annual take-home pay $32,813 Per month take-home est. Hi Alanna,
-$3,300 Student Loan $0 -$50
Student Loans Public transportation monthly pass (est. Jenny,
Good luck! Car insurance: $735 (6 months policy) The map below shows the hourly wage needed to afford a fair-market rent, two-bedroom apartment by state, assuming a 40-hour work week, 52 weeks a year, as calculated by the NLIHC. Make sure you have about $100 left a week for discretionary expenses, so you can buy some clothes and go out with your friends every now and then. Est. Gas $200+ (new job is 35/40mins away) We did the budget with 35 hours each, so you have a little room for savings in the 40 hour weeks. Use this worksheet https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ to estimate your budget. Hi! Hi Aaron,
Thank you so much!
If he has a car loan, $500 may be too much.
Gas -$60.00/month