How much money as the total should I have to move out on my own?

Question

To live in a house? apartment? I'm extremely practical and will budget my money and time to get the essentials only.

Answer 1

You should try to get 3 months worth of rent and food money minimum. Your first rent will probably be first and last month so this way you will be able to pay your rent and have an extra month left over to get set up and get your next paycheck. If you can you should also find out how much electricity, water and (if you want it) cable will cost and set aside 2 months of that for set up fees and deposits if needed. You will probably need to start in an apartment and work up the money needed to put down for a house. Try your hardest to save 3 months worth of money to live on (rent, food, bills, gas etc). I didn't do that when I first moved out and if it weren't for the fact that I was in the military and they gave me loans to pay for housing I would have been out on my butt. Good luck

Answer 2

Depends on where you want to live, and if you want a house or an apartment. A bit more important than what you have saved up is how much money is coming in the door each month. In the US, a decent baseline amount of how much you will need to start off with when renting is probably about $5000 (again, more or less depending on city vs. suburbs and what part of the country - living in California or the Northeast is much more expensive than let's say Wisconsin). That should cover first month's rent, moving costs, and some furniture. For buying a house, you will usually need a 20% down payment of whatever the total cost is. Good luck!

Answer 3

you should always keep enough in savings so you could live for three months in an emergency (three months should be enough time to get back on your feet after you lost a job, got sick, etc.) So if you have that plus enough for the moving costs (truck, movers, furniture), first month's rent (and maybe last, or a security deposit) plus whatever you'll need for bills (remember, there often an installation fee or account set up charge for utilities, cable, etc.) and food for the month (that's the one most people leave out of their budgets for some reason), you should be fine.

Answer 4

Realistically, I would have at minimum 1k saved for emergencies, and snaggle renters insurance. Income however is more important than money saved. I had 1/4 paychecks cover rent, and half of 1 other paycheck to cover everything else.
33% of my income went to rent and living, cable/phone/elect. etc.

so 25-50%, although 50% is way probably pushing it.
25% is unrealistic for a single mom with a 2 bedroom apartment by her self. She'd need to be about 3000/month for that.

Answer 5

I would say you should have a STEADY income of AT LEAST $300 a week. You should have around $1000 saved before you even make the move because you will have to put down a security deposit and buy things for your house/apt (i.e. cleaning supplies, furniture, dishware,ect.) Once you are moved in you will need to be able to afford electric, gas(heat), cable(if you use it), rent, groceries, household goods(i.e. TP,toothpaste),insurance, phone. My monthly bills add up to about $1600.

Answer 6

All i will allow you to recognize is to position in writing each and every thing down; expenditures, gas, transportation, foodstuff, and and so on. vs. how a lot your earnings is. attempt to pay for each thing you choose first. Then set a part money for belongings you choose like clothing, shoes, besides the reality that. continually attempt in save money even if it is 20 money out of your earnings bi weekly. i ought to attempt getting a saving account and do not contact the money you save except it a real emergency. Set small purpose and previously u recognize it you've countless money kept up. i ought to also attempt saving for price products you choose besides as emergency money yet, save them separate. it' takes countless will ability. i recognize this because I have an identical spending situation yet having safe practices is better major to me. merely locate a reason U choose to save. i wish this may help u....

Answer 7

Calculate 3 months of living expenses, including gas, electric, cable , phone, hooking up these services costs money.. you can call and find out the fees. Laundry, food, decorating, furniture, renter;s insurance, etc

good luck!!

Answer 8

It all depends on where U want 2 move and how much it costs. Their's no price on how much it is 2 move, it's just where U want 2 move and how much your willing 2 spend!

Answer 9

I am about to move on $1600. I'll still be able to afford car insurance, car payment and utilities with money to save.

Your situation may be different.

Answer 10

you need to have a job and put forth 25% of your monthly earning towards housing