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I am 18 and getting an apartment with my boyfriend and were evenly splitting the rent and electricity bill. For those who live(d) on their own, I'd like to have a range of how much I will need to make a month in order to get by?
Half of rent ($350-$400), half electricity bill (about $50.), inexpensive car payment, car insurance, basic/inexpensive cell phone, gas money, food/necessity money, and extra money for whatever.
I know the prices can vary, but keep in mind I'm very cheap with my money. So just give me a minimum and maximum estimate. Thanks.
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Want to answer more questions in the Relationships category?
Maybe give some free advice about: Work/School Relationships?
So, based on your estimates on electricity and rent:
Rent: $350-$400
Elec: $50
Car: $200
Car Insurance: $100-$200
Cell: $15-$20
Gas (depends on how much driving you do): $80-$200
Food: $75-$125 (for one person)
Entertainment: $50-$100 (depending on how much you go out)
Total Minimum: $870
Total Maximum: $1295
Also, does your apartment include internet? That's basically a necessary expense, and runs you about $20 a month for really basic dial-up.
You should also have a savings plan in place, so I'd try and put away at least $100 a month away in an emergency account so that you don't need to rely on credit if something goes awry.
If you save up and buy a car cash down rather than in installments, you'll save a lot of money on payments. Ours cost $3000, and it works just fine.
You'll also need to factor in irregular expenses like medical bills (if you're in the States), dental, car maintenance, clothing purchases, gifts, etc.
To save more money, don't put things on credit. If you don't have the cash, don't buy it. Credit is just paying money into someone else's pocket.
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Well, real estate is different in every area. In PA, average rent is about $800. Since you are like me and love to SAVE money, I looked for apartments that have utilities included. That honestly is the best way to go. The only thing is that internet, house phone (but you have a cell so there isnt a need) and cable are not included, however, if you have a laptop internet is free if your in a range of a connection!! But if utilities are not included, your looking at about $700 per person. You might want to consider getting another roomie or two so the cost goes down even more! Make sure they're a good fit with your personalities though. Craigs list is a good place to start. Some people might be lookin for roommates to move in already so that helps with actually hunting on your own because they already have a place. Also, you know its available and ready to move quickly into. On craigs list, they have cheap rent listing. But keep in mind when looking is that utilities are included in the rent so that way you have a better idea of what you'll really be paying. This really helps out with the idea of getting all your other costs together into your rent price ( meaning not just rent but cell, car, gas,ect.). In PA, the cheapest i've see was 550 for one bedroom all utitlities included except internet, house phone and cable.
There is just one very IMPORTANT rule...
MAKE SURE YOU LOOK AT THE PLACE BEFORE YOU MOVE IN!!!!!
:) Good luck and happy hunting!
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I think my estimate will be a little lower than the other answer but I live in a smaller town so I'm more used to those prices so please take that into account.
A lot depends on what area you're moving to. Your share of the rent can be anywhere from $150 to $500. Half of the electric will run anywhere from $25 to $50. The cheapest car payment you're likely to get will probably be around $400. Since you're buying a car, you'll most likely have to carry full coverage insurance so you're looking at around $100 if you have no tickets or wrecks on your license. On the upper end, you could pay as much as $300 a month for full coverage insurance if you have a lot of tickets and/or wrecks. Gas should run you around $20 to $50 a week depending on how much you drive and how good on gas the car is. Food/necessities will run you around $50 a week. That's if you don't splurge on dinners out. A cell phone will run you around $40 to $60 a month. $50 should last you for spending cash a week.
You're looking at around $835 on the lowest end and $1460, if not more on the upper end.
Don't forget you also have to take into account the fact that most things will also require a deposit. Most apartments ask for a security deposit equal to rent. Some ask for first, last and security. The electric will most likely also require a deposit. If you're getting a home phone, you need to add that in, around $40 at the bare minimum. Also if you're on city water, you'll most likely have to pay for that as well. Most cell phones, unless you have good credit already, will also require a deposit of at least $100. If you don't have furniture or household items (pots, pans, plates, sheets, etc), you'll also have to add the cost into that just to get you into your place.
It cost my husband and I nearly $2000 just to get into our new place, not counting the gas money just moving our stuff here.
The getting moved in and your utilities turned on will be the big hurdle you'll have. If you can get through that and still have money or have good money coming in, I think you can make a go of it.
Good luck in your moving.
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