I’m looking into moving out of my parent’s house and I wanted some advice before I do it and totally screw myself over. I am currently working 2 jobs at aprox 48 hours a week and attending college part time. I am looking to find a roommate and most places that rent in my area include utilities with rent so I’m looking at about 350-450 on rent and utilities I have a car that I have a loan out on so I am paying 315 a month for insurance about 120 on gas 65 on my phone bill and I have about 500 dollars in credit card debt from school and unexpected expenses and I make 1600 after taxes 2000 gross and after I budget it leaves me with about 100 dollars a week to spend or save
2007-06-27 11:50:10 · 6 answers · asked by ohyaknow 1 in Business & Finance ➔ Personal Finance
When you move out, there are a lot of unexpected expenses that come up. You should also consider furniture, kitchen utensils, pots and pans, dishes, cleaning supplies. Most landlords like a deposit, first months rent, and possibly last months rent at signing. Contracts are generally for a year. Unless you find a really great deal, and know about your new roommate (habits, friends, partying), I would hold off for a bit longer and save.
2007-06-27 12:01:21 · answer #1 · answered by sweeetheart 3 · 0⤊ 0⤋
Trying to be independent is great and should be expected. Now you have 30 year olds who still live with mum. It sickens me.
Anyway, there is no apparent reason to move out this particular second. You aren't even home most of the time with more than full time work and part time college. Work your *** off pay off the credit cards as well as put some money away. Idealistically, you want to save 3 months worth of living expenses. But ya know, VERY few people do that. In fact, the people berating you because you "only" save 100 a week is a joke. The grand majority of people live pay check to paycheck. That means they don't save anything. Personally, I am too frightened to live like that so I always act like I don't have money when I really do.
2007-06-27 12:50:25 · answer #2 · answered by FreakyGeeky 3 · 1⤊ 0⤋
Before you move out, pay off the credit card. It should take less than 2 months. During that time shop for less expensive car insurance. $315 is more that I pay for 6 months for insurance that meets loan standards. You didn't say how much your car payment is. Don't forget to budget for food. Figure a BARE minimum of $150/month for that. If you want Cable/satellite TV and Internet access, that will cost extra as well.
My advice is to stay with your parents and save your money until you graduate.
2007-06-27 12:19:27 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
Why would you want to move out unless you have to? Why not live at your parents house so you can save and invest even more money? $100 a week is not too much. And please please please get rid of your credit card debt ASAP. This nation is full of people in very bad credit card debt and it all starts from a few hundred dollars at a young age. And also, don't move out unless you have to. Why put a financial burden on yourself??
EDIT: Who the hell gave me a thumbs down? ****** idiot.
2007-06-27 11:56:40 · answer #4 · answered by RockiesFan 2 · 0⤊ 4⤋
DO NOT MOVE OUT!!! WHY??? FREE RENT!!! that money you were planning on spending...save!! Pay off the loan on the car and try to pay the insurance premium for the whole 12 months up front for a discount.Focus more on your education...DO NOT MOVE OUT!!! PLEASE............................................
2007-06-27 11:58:52 · answer #5 · answered by memphismortgagebroker 1 · 0⤊ 1⤋
100 a week to save or spend....haha...that will last a week
2007-06-27 12:13:13 · answer #6 · answered by anis s 1 · 0⤊ 1⤋