Questions about moving out?

Question

I want to move out a year from now I am planning to save up at least $5000. Is that enough to get me started with deposits for everything I need to put a deposit on. Next I want to know what bills I will have to pay that I didn't consider and about what they run a month. So far I've got rent, electric, gas, car insurance, phone. Anything else and any suggestions would be greatly appreciated.

I will be renting a single bed room apartment most likely and will have a monthly income of about $2600 between me and my girl friend.

Its in NJ so rent is like $900 a month and no other loans.

Answer 1

Are you moving into a house or an apartment? Own or rent?

Bills:
groceries
renter's insurance if getting an apartment (if fire or anything happened your stuff can get replaced)
cable TV
Internet
heat/light bill as part of your electric
clothes
misc items like furniture, dishes, towels, bed sheets

House expenses if buying house:
water/sewer bill
property tax

Answer 2

Hello,
The info that is missing is, renting a house or apartment? Also, will you be in the same area? In SC, if the same utility is used in the new place a small transfer fee is applied: electric and gas, phone.
The renting of a home will most likely have a water and sewer bill in addition to those you already have. One bill you did not mention is a cable bill. Also track how much in food you spend a month, you did not mention this one. What about renters insurance? I have never had this insurance, but hear it's not that badly priced depending on the limits.
The amount you have set sounds like a good one, at least for my area SC.
Best of luck
God bless

Answer 3

The costs vary greatly depending on where you live, how big of a place you want to rent, and what appliances are provided. However, $5000 should be enough to get you set up just about anywhere.

Before you sign a lease, call the various utility companies that you'll be using (the landlord should give you contact information for all of them), and ask what the budget payment is for that address.

If you're renting a house, you may also have water and sewer charges. You should also get rental insurance to cover your belongings and protect yourself from lawsuits. It's very cheap.

Since you included car insurance on your list of new bills, I'm guessing that you currently live with your parents? If that's the case, then you'll also want to remember to include food, toiletries, and clothes in your budget. You also may want cable TV. Will you be renting a furnished apartment? If not, you'll need to find money for a bed, couch, TV, plates, glasses, silverware, a vacuum cleaner, cleaning supplies, etc.

Other advice - do NOT get a roommate unless 1) you can trust this person with your life, and 2) you honestly can not afford to live on your own. Think of it as a one-year marriage.

Answer 4

In many parts of NJ, $5,000 will do it. It won't in places like Hoboken, but for the less urban areas you will be fine.

Keep an additional months rent in savings at all times. Eviction for non-payment of rent in NJ is without mercy of any type. Even if the property is collapsing around you, you must still deposit the full rent in court in order to be granted a Marini hearing.

Get a renters insurance policy (around $200 a year if you get a high deductable) and do not ever let it lapse. I can't begin to tell you how many people I have seen who lost everything and had no insurance because they thought their landlords property insurance covered their belongings. It doesn't.

As a side note, in NJ only tenants who live in non-owner occupied buildings of three or more units are covered by the provisions of the Ant-Eviction Act, which basically gives you more protections under NJ law.

Answer 5

Well, it depends on where you plan to live. If you're rent is $500 a month, you will need at least one month security, some may ask for first month, last month and security $1500,

Any other loans? Credit cards, student loans? Food, laundry and laundry supplies, cleaning supplies, house furnishings.

How about cable? Internet service?

I make up a spreadsheet, then on the heading I put the month and days of the week I get paid.
Next, on the rows, I write the bills that are due, in order by date due and amount,

Below I add my income. This helps me plan a week ahead for paying my bills. I already know how much I have to spend and how much will be left over. This also helps me remember what bills I have. Sometimes just waiting for something to come in the mail, is not enough, and find that I forget to pay for something.

Good luck.

Answer 6

My Apartment bills monthly
Rent $460.00+the $300.00 security/damage deposit
Groceries $080.00
Cable t.v./Internet package $40.00 (charged by landlord used or not)
Electric heating/cooling bill $150.00
phone bill $60.00
Stuff that I don't get are gas (gas not available in my geographic area and I don't have a car)
That comes to $1090.00 my first month and $790.00 a month every month thereafter. This does NOT include clothing expenses or impulse buys your figures will vary depending on the differences of area and the car insurance payment, car taxes title, & registration, car repair (transmission blowsup, brakes wear-out, Parking Permits etc...).
Your stated goal of saving $5,000.00 dollars is a good start if you were me you'd last 5 at most 6 months without a job. I live in the state of utah in a colledge town.
I personally think you should save more than you think you will need; you will be very glad you did.

Important note: I have learned the hard way that you should not count on the income of the other household member's; because I have mutiple friends who started living together as girlfreind/boyfreind then became husband-&-wife living together with mutiple kids forcing one of them to quit their job and be the homemaker of the family also in some areas after 24-36 months you and the girlfreind are listed as married-by-defalt from living together. Not that i'm making any predictions but you and the gal you will be living with may want to check the laws on that BEFORE you start living together that way you're less likely to be hit by an unpleasent suprise in the law books.

Anti-pregnacy tip: Don't sleep in the same bed as she does (sex and kids only complicate the unpleasent suprise's in said law books).

Answer 7

you are planning ahead and that is good
a good rule of thumb is to have six months rent backing you up saved.[total six months rent ] [in case your room mate is unable to pay for any reason].
while planning
health insurance
food
houshold supplies
recreation, cable
car maintenance
clothes, shoes
credit card payt's
savings account [ consider this a monthly bill that has to be paid] even if $10.00 per month always put $$ away for a rainy day[emergeny's

Answer 8

That should be plenty as long as you can continue the same line of income. But 900 is a big chunk of your monthly total. Things you have forgotten. Renters Insurance, Water, Sewage, and meals. http://apartments.pghmovers.com

Answer 9

Water and trash collection bills....groceries...cable tv or not....entertainment expenses...
planning ahead is a great idea!
Good Luck!
oh, what about health & life ins.?

Answer 10

food, clothing, medical insurance, entertainment, Internet access, gas, car payment, car maintenance, car insurance, registration, inspection, dry cleaning, furniture payments, credit card annual dues, doctor visits, pharmaceuticals, beauty care, etc