do you think i would make it??

Question

ok me and my bf are looking into getting an apartment... i found one i like it cost $625 and only pays gas.... My bf makes about $400 every 2 weeks and i make about the same... Do you think we would have enough spending money after all the bills and rent??

Answer 1

so basically you make together 1600 month..

lets estimate here:
rent 625
electric 100
cable/internet 100
phone -cell or landline. 120 (2 lines what i pay)
car ins --100

total : $ 1045

now if you have a car payment that would be another bill ( didnt mention if you did)

other expenses
-gas for your car
-groceries--save lots of money if you cook your meals at home....at least most of the time.



sit down with your bf write a list of all your monthly bills then add in all the housing bills like electric and rent..
see what you come up with...
I live with my husband we spend about 75 week on food....just to give you an idea....

Answer 2

Is the 400 after taxes or before?

It can be done, but if your or his car were to break down, you'd be toast. Here is a bit of what my expenses seem to be on a monthly basis:

Cable/Internet/Phone - $100
Cell Plan (2 lines) - $75
Car insurance (2 cars, clean driving record, married, liability) - $75
Insurance (renters) - $40
Water/Sewer/Sanitation - $35
Gasoline - $200 (did I mention one car was an SUV - not a wise choice on my part, and I only live 3 miles from work)

Add your rent and that's almost $1200! And we haven't figured in food, gifts, entertainment, and saving any mony for retirement.

Speaking of which - start putting some money away for retirement, in an IRA so you can't touch it except to buy a house or pay medical bills. If you put away $3,000 per year until you're 35 and stop it will be a greater amount when you retire than if you start at 35 and put $3,000 a year away until you retire.

I'd try to work your way up in life before you set yourself up for a bad situation.

Answer 3

You and your b/f will be working for 2 weeks, just to pay the rent. A good rule of thumb...if you rent is more than 20% of your monthly income, you can't afford it. Based on the income you listed, you could probably afford a rent payment of about $400 per month.

Answer 4

Make a list of all your personal bills, your boyfriends personal bills, and then list all the costs for that apartment. Besides, rent, you have phone, electric, food, cable, internet, etc.

Don't forget you have to come up with a deposit for the apartmement. Most of the utilities will require deposits and the initial bills will have various installation charges.

I don't think you and your boyfriend make enough money to afford that apartment.

Answer 5

I think the question is, how steady will this income be? What if one of you gets laid-off? What if there's an emergency? What if you 2 break-up? What if the cost of rent increases? I don't want to be harsh on you, but reality is very harsh, and you must be prepared to wake up into a nightmare.

Answer 6

You could do it THEORETICALLY.

But more likely, It'd be too hard on both of you and you'd get behind on bills, etc. and ruin your credit scores pretty badly. Live within your means.

Like I said, you COULD do it, but make a list of all the things you'd be giving up.
For example: New clothes, Dinners and lunches out (this one's easy to overlook and overspend), No video games, no movie nights, no fancy cable channels, etc. etc. People do it all the time, but they give up a lot.

Answer 7

no,don't do it.