How much does it cost to live on your own?

Question

I'm 18 years old, and i woud like to move out into my own apartment or even a rental house. I would have to pay $50 a month for a cell phone and would most liely not get a land line. i would also have my car insurance to pay, which may be around $1600 every 6 monthes (yeah it sucks). what else, other than rent, would i have a need to pay for and what is the average cost? Also, I live in Maryland. I'm only getting paid $8 an hour now, but i hope to move up to $10 and try my best to get by on that without a roommate. Thanx!

Answer 1

i highly recommend finding a roommate to share expenses with...

your take home income is only about $1000 right now so I would recommend that you only live with rent about $250 right now due your extremely high car insurance payment. How much will it cost you to furnish and get the stuff you need.

with roomate in a $500 per month apartment(my estimation)

$250 rent
$267 car insurance
$75 gas
$100 food(no eating out and smart shopping)
$50(necessities- shampoo, toothpaste, personal needs)
$50(gas, electric)
$50(internet, cable)
total $842

$158 left for entertainment and savings


I would advice that you look for an extra job making some tips as a waitress, bartender for some extra cash

Answer 2

WOW, 1600.00 for car insurance? If you have a good driving record, I'd definitely shop around a bit for lower rates first.
Anyway, check for apartments that include utilities or at least some of them. That will help. If you can't live without cable TV, add another 40-50 dollars a month. If you need a computer with Internet, add another 10-20 bucks a month. If you can find a place close to work, that will help with your gasoline costs.
Just sit down with a note pad and think of everything you spend money on now (Movies, clothes, food, gas, insurance, etc.), Then add rent, utilities (gas, water, electricity, sewer/garbage pickup) and go from there. Like I said, if you can find a place that pays most utilities, that will be a big help.
Good Luck. I remember moving out for the first time and having your own place is very exciting.

Answer 3

If your living at home stay there. I've never lived with any one all my life except the last few years,I never get my mad but the last people I lived if I hadn't walked out I swear to God I was ready to slaughter the family and even though it's been a lot of years I'm now serously thinking about going after them for what they put me through because not to long ago one of the people got into my face. I lost so much because of these people I'm and they were the one's that were afraid they were losing but yet if it sasn't for me they wouldn't be where they are. If you do get a room don't get your best like I told 2 people who were best friends If you don't move out and get your own separate places your not going boother with each other lateer and chances you'll be enemies . Later one of the guys came to me and said there not enemies but they don't bother with each other.Morale of the story if you can't afford to go on your own then your better off at home and if you getting along with your parents stay there give the money that you would pay a land lord to your parents for the sacrifices they did for you. Don't put the money in a strangers pocket that'll spit you out has soon as you can't pay the rent.It's really really hard the first several years you go on your own and find a diferent insurance company but your probably paying high insurance because your only 18 but look around any ways. Take my advice don't get a room mate it doesn't work out and some one always loses big time.

Answer 4

Rent-Food- Heat- Cable- Gas- Electric- Car payments- insurance- Gas $$- Credit Cards- Cell-
The best way to determine if you can live on your own, is take whatever your rent is and double it, for all your utilities. Then add your other bills (car payments, ins. ect....) than add $$$ for food and misc expenses.
So if your rent is $600 plan on $1200 just to live inside the building
than add your car payments and insurance lets say $300 conbined.
than add food and misc- about $100 a week so $400
so all told you need $1900 a month just to survive
making $8/ hr @ 40 hrs a week you only make 320 a week before taxes..... pr1280 a month before taxes you only take home about 2/3 of that money. So either find a really cheap place to live, or wait untill you make more money to move out

Answer 5

I'm not sure I think it depends on what state you live in. I'd try looking in the newspaper for available apartments or houses.

Answer 6

it would be best to rent a studio where utilities are included, and just penny pinch otherwise, it would cost about 2x your paycheck... you'll have rent, garbage, heat, electricity, gas for your car, groceries...