There are 3 people in my family myself, wife (stay at home mom, and my 3 year old son). I make before taxes about $2850 per month. After taxes every two weeks my pay check is $1168.83. Can I afford paying this much in rent and all the utilities which I am guessing is aound $250 per month for gas electric, phone, cable, and internet? I do not think I can but that is just me. Any suggestions or advise?
2007-04-26 05:12:00 · 6 answers · asked by Satan Lives! God must Die 4 in Business & Finance ➔ Renting & Real Estate
Well it all depends on your other expenses.. all things being equal you SHOULD be able to afford 800/month when making 2850 a month. Thats only 28%. They say you can go up as high as 40% towards rent.
But other factors would need to be determined. Like other debt, car payments, child raising costs ect ect...
2007-04-26 05:16:54 · answer #1 · answered by Anonymous · 3⤊ 0⤋
If you can get two or three months worth of rent into a savings account, and if you don't have a car payment, you should be able to handle that pretty easily. I think the savings account could even be built up over time if you are currently in good health and don't have a dangerous job. Write out a budget that includes food, gas, entertainment, utilities, etc. Make sure you don't leave out the annual things like car registration. If the budget looks workable and you are still able to factor in some savings or unpredictables, like illness, give it a shot.
2007-04-26 05:23:45 · answer #2 · answered by Lesley M 5 · 2⤊ 0⤋
so monthly you got: 2336.00...roughly I say
800 taken out each month for rent leaves about 1536.00
And I assume they are going to go up with the rent once a year probably.
So that is 1536.00 to pay for phone, cable, gas, electric and internet.
What about food, health insurance, insurance for the car, home, an expected rise in gas or a rise in bills, emergencies that could arise...I think it would be kinda hard though.
2007-04-26 05:25:03 · answer #3 · answered by e j 2 · 0⤊ 0⤋
There somewhat isn't any excellent answer right here. It relies upon completely on what style of economic subject the two one in all you have. in case you chop up costs fifty-fifty, then needless to say he would desire to be paying $2 hundred. in spite of the incontrovertible fact that, in case you have not actual financial statement set out, i might recommend which you're taking a seat and artwork one out. as an occasion, he would desire to pay the lease and you pay the utilities. Or, you each and every and each pay 50% of the lease and utilities, and you the two deposit a sequence volume of funds (a share of your gross sales) right into an prolonged term low fee costs account. That way, you the two comprehend what you're in charge for each month and how a lot then you have for different issues (holidays, entertainment, food, and so on..)
2016-12-10 12:05:35 · answer #4 · answered by cosner 4 · 0⤊ 0⤋
I think that is doable.. You just need to manage the usage of your utilities.. As long as you are not wasteful (leaving the AC home when no one is home, letting the water run 5 minutes before you get into the shower, etc.) you should be fine
2007-04-26 05:17:35 · answer #5 · answered by BigWashSr 7 · 0⤊ 0⤋
My suggestion is to sit down and do a really good budget. The utilitites seems a little to low. You have not included gas, groceries, entertainment(movie rentals, toys, birthday gifts, presents) , cost for haircuts,clothing. You have not mentioned insurance, car payments, repairs.
2007-04-26 05:19:18 · answer #6 · answered by nickynoodle 3 · 0⤊ 0⤋