My fiance and I (both 18, living in Australia) finally got approved for a house (renting) and we move out in two days! It is so sudden and now I wonder if we can cope. Emotionally, I know we can. We're a strong couple who've been together for over 3 years and work so well (same goals too). I earn less (I'm a University Student as well - very demanding course) and he works full time. Together we earn $650 per week. Our rent is $250/week. Can we afford this alongside transportation costs, electricity, mobile phones bills, internet, groceries, etc?
I am beginning to feel worried. According to my budget we can afford it (but we'd be tight). What is your opinion. Please only give helpful feedback!
Thank you in advance.
2007-02-07 20:29:09 · 7 answers · asked by racheoussl 2 in Business & Finance ➔ Renting & Real Estate
don't worry, you'll be ok.... you have 400 a week left over, try and space bills out, eg. most bills you get monthly, so pay a different one each week. your elc bill may be every 3 months, but energy australia has a system where they give you a card and you can pay small amounts off your bill each week or month. just try and space everything out so you don't suddenly have a huge lot of bills etc to pay at once. when you work out exactly how much you need to pay every week on essentials you may be surprised at how much you have left over. it may take a while to get used to it and work out how to do things cheaply etc, live without luxuries, but as long as you work together you will be ok.
incidentally, my husband and i survive on his wage at the moment (about 750 a week) as we have a little baby, and pay 365 a week in rent, but manage ok. so you should be fine! good luck!
2007-02-07 20:48:13 · answer #1 · answered by uenuku 5 · 0⤊ 0⤋
Wow 250$ a week is HUGE!
I live in the middle of California, and as a student I tried to keep rent to 500 a month! You are at $1000! It guess that is not that bad if it is a 2 or 3 bedroom and you can rent out to someone...
2007-02-07 20:32:52 · answer #2 · answered by The_Answerer 3 · 0⤊ 2⤋
Most of the time, the rule is to only have a third of your income go to rent, but your not much over so you should do fine.
2007-02-07 20:35:18 · answer #3 · answered by nonono 3 · 0⤊ 0⤋
You can afford i, don't worry. You wouldn't have had the loan if the banker thought it would come against your minimal survival income.
Anyway, today's wealth is made by the debts you can afford. If you really have some problems, you may take another credit to lower your monthly costs for a while.
2007-02-07 20:34:23 · answer #4 · answered by Anonymous · 0⤊ 2⤋
It depends on how well you can budget money and how well you can communicate about finances......my DH and I are horrible. We waste alot of money on groceries, entertainment, ect. It is pathetic.
make sure you are both on the same page about spending habits - finances can tear people apart pretty quick
2007-02-07 20:39:05 · answer #5 · answered by zaeli22 3 · 0⤊ 0⤋
It depends what your other expenses are. You have to determine what you will need every month for those other expenses and see what you have left over.
2007-02-08 02:27:25 · answer #6 · answered by KathyS 7 · 0⤊ 0⤋
I'd be worried too. You will be living pretty tight. I wouldn't want that.
2007-02-07 20:32:37 · answer #7 · answered by Anonymous · 0⤊ 2⤋