Hey! I am also planning to move out of my grandparents house but my boyfriend will be moving with me and i have made a list of calculations that i think might be what i will have to pay but i want your feed back to see if i am close.Me and my boyfriend will try to split everything half and half. Here are my calculations.
Per person::
Rent:$500.00
Water and sewer:$25.00
Garbage:$13.00
Electricity:$50.00
Groceries:$35.00
Cable and internet:$50.00
Gas and car insurance:$500.00 (a month)
Cell phone:$50.00
**TOTAL: $1223.00**
The numbers above are half the price of the actual cost im calculating because my boyfriend will be paying the other half.
Also i came out with a work plan that i think might keep me in this range if i am correct. If I work 8 hour days 6 days a week for $8.00 per hour, i should be making $384.00 a week. If i get payed at the end of every month i should get $1536.00. I should also have an extra $313.00 a month after bills and everything...Right?
2007-08-28 11:41:10 · 9 answers · asked by paizly c 1 in Business & Finance ➔ Personal Finance
every is 100% right except for the two things that get everyone in trouble or at least 95% of the people on answers -- where is short term savings (rainy say fund) and long term saving to cover when your get pg and out of work or bf blows his top once two often and gets fired!!!
2007-09-01 10:34:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Rent $500 a month : GOOD
Gas & car insurance $500 : BAD
Essentially you're paying the same to live in a house of what you pay to own a car. Prioritize one or the other, you're either driving more or living at home more, this will be a difference of $100-200 a month, which would shoot your savings from $300 to $500 or even $600 a month.
How do you save on car insurance? Switch somewhere or talk it out, if you own the car, tell them you don't drive it that much, if you don't own it, say you want insurance as a non-owner so you're insured no matter who's car you drive (or steal). If you're paying lots on car insurance because you did something wrong, i can't help you.
$500 is what it costs to make payments on a car loan (thankfully you have none). So it doesn't make sense to me somebody pays so much just to drive a car, consider it's only what their rent costs (or all other expenses combined)
Good luck and keep expenses down.
2007-08-28 15:56:54 · answer #2 · answered by Smartass 4 · 0⤊ 0⤋
Uh, you forgot a couple things. For one, taxes on that income of yours - you don't get the whole amount, you know - that will take a major bite, if not all, of that $313 a month you though you'd have left over. Also, about $8 per week per person is pretty light for groceries - and are you including items like toothpaste, soap and laundry detergent in with groceries? And speaking of laundry, will you be buying a washer and drier, or using a coin op one? Oops, coins? Not in the budget either. And those clothes you will be washing - I don't see buying those in the budget. And any entertainment other than the cable TV? And I guess you already own that TV, since that's nowhere in the budget - and you already have dishes, mops, a vacuum, sheets, towels.....?
And will that car ever need repairs? Tires? New battery? oil change?
2007-08-28 11:55:57 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Yeah, the guy above me is right...Even with a seemingly all-inclusive budget, living is expensive; an $8/hour job is not going to cut it. Unless you absolutely have to move out right now, I would seriously consider staying put and trying to find work that will pay significantly better.
Good luck! I know it is hard to not do something when you really want too, but signing a year lease without absolute assurance of financial stability is an easy way to get yourself into some major trouble.
2007-08-28 12:03:18 · answer #4 · answered by Cod-y 3 · 0⤊ 0⤋
Wrong - you forgot payroll taxes. If you live in Penna (state income tax is 3.07%), your net pay will only be $310 per week - IF, you are guaranteed those 8 hrs of overtime a week - state wage tax will vary by state. Water, sewer and garbage are usually paid by the landlord. $1000 total for a one bedroom apt? - seems high. If your apt is all electric, utilities will probably be $150-200/month total during summer and winter for heating and cooling. Car ins & gas $500/mo? how much are you driving? 1000 miles a week? don't forget car repairs, oil changes, annual inspection, eating out, entertainment, medicine, doctor visits,
2007-08-28 12:13:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋
nicely i'm 26 and that i stay in a three mattress, 3 bath townhouse in greenbacks Co. PA outfitted in 2006 with my fiance, and we've 2 autos a jaguar and a mercedes, and we've been waiting to stumble on the money for this because of the fact we've not any toddlers and WE the two HAVE JOBS AND BUST OUR *** AT paintings 5-6 DAYS each week!!! i'm assuming that the individuals you're conversing approximately do the comparable element. Or they married nicely.
2016-10-09 09:45:09 · answer #6 · answered by ? 4 · 0⤊ 0⤋
you've forgotten the TAXES you got to pay.
and essential:
Food $150,
( unless you don't eat or get food from Salvation Army )
Entertainment $25 ( you'll be nut if no entertainment at all )
Clothing $20 ( unless all your clothing are from donated by SA )
Accessories $50 ( tooth patse, brush, laundry detergent, shavers, soaps, personal hygienic products etc )
Emergency or insurance ( in case of emergency ) $25
Electricity adjustment $75 ( not $50 in extreme cold month or hot month)
2007-08-28 12:11:01 · answer #7 · answered by jean l 3 · 1⤊ 0⤋
Forgot to take out taxes etc which drops your weekly to about $288 or $1238 a month leaving you $15 a month
2007-08-28 12:03:37 · answer #8 · answered by Pengy 7 · 0⤊ 0⤋
here it a link to a budget worksheet... should help
2007-08-28 12:55:02 · answer #9 · answered by Amanda 3 · 0⤊ 0⤋