Moving out.... need some help

[RedSox88]

Hey guys,

I need some input....

I'm 23 years old, just graduated college and am going to move out of my house that I currently live in with my parents.

I am just wanting everyones input on monthly expenses, I think I have them all covered but am not sure.

Assuming my apartment rent will be $1,050 (the cost of the one i really want) and my car payment is $410/month (subaru WRX STI, couldnt resist), what other payments are we talking about.

If you could come up with a list of ALL other monthly expenses and approximate prices associated with those, I will award points.

Thanks alot everyone.

[Nats' Fan]

Cable/Internet - approx 125
AC/Heat - Approx 70-100 depending on where u live
Car insurance- approx 30 a month depending on driving record
Food/leisure- 200-300 a month
other utilities - approx 20 a month

[Br0nxer]

you shouldnt spend more than 25-30 percent of your after taxes monthly income on rent

cable 150 a month
gas 30 a month
electric 100 a month
car insurance
food 300 amonth

with what you listed for car payment and apartment rent you are going to have a problem if you are bringing home less than 4k a month

if you make less than that you will be working just to pay bills

[Ricki Roma]

Dont forget internet, alcohol, expenses going out with friends.
Cell phone bill.

[boscokid]

Car insurance- approx 30 a month depending on driving record

I'm 23 years old
my car payment is $410/month (subaru WRX STI)

not getting that insured for $30 a month maybe $300

[Nats' Fan]

I'm 23 years old
my car payment is $410/month (subaru WRX STI)

not getting that insured for $30 a month maybe $300

Damn, that's crazy. I only pay 23 per month.

[TR88]

rent $1000
car $400
insurance $100
phone $70
food $400
gas $200
electricity,cable,water etc. around $200
enterteinment around $300
around $2670 a month

[Ricki Roma]

Hope you got fat stacks bro.

[TR88]

[RedSox88]

thanks for all the quick responses guys, thats what i figured it would be..

Jobless currently but graduated with an accounting degree and wont move out until i find a job should be able to bring in 2K+ every paycheck (twice a month)... plus i have 20K in the bank now i can grab from..

just wanna make sure Im not being reckless with my money, I know the smart money says stay home rent free with the parents, but it comes to a point after you get home from you accounting job witha brief case in hand tons of work to do and you crawl into your room and your mom asks you what you want for dinner...

nothing wrong with it just time to move on....

thanks for all the help guys heres what i gathered from your info and mine:

Apartment - 1,050
Car - 410
Gas - 200
iphone - 100
insurance (still on my parents by the way) - 120
utilities - 220
food - 350

grand total monthly income - $4,000+

Total monthly expenses - $2,500

Those expenses are bare minimum and doesn't include any fun stuff like restaurants, movies, and other stuff

so basically if I just go to work, and come home every day and do nothing else Ill profit $1500 every month, add in $500 bucks for entertainment and some bets here and there ill still be able to bank around a grand should be fine

Thanks again everyone and more input is definately still welcome

[rsnnh12]

Do you have health insurance through work? If you live in Mass, your car insurance will be closer to $150/mo. Renters insurance isn't a bad idea either, should run a couple hundred for the year.

Gym membership should be between $20-40/mo

[Ricki Roma]

If your makin 4k a month your sitting pretty, you have enough and can put money away for a sweet azs down payment on a house in a few yrs.

[mr.inpak]

have at least $2000 in a emergency fund for unknown expenses car repair new water heater etc

[RedSox88]

thanks everyone, you guys have been really great!

[EmpireMaker]

thanks for all the quick responses guys, thats what i figured it would be..

Jobless currently but graduated with an accounting degree and wont move out until i find a job should be able to bring in 2K+ every paycheck (twice a month)... plus i have 20K in the bank now i can grab from..

just wanna make sure Im not being reckless with my money, I know the smart money says stay home rent free with the parents, but it comes to a point after you get home from you accounting job witha brief case in hand tons of work to do and you crawl into your room and your mom asks you what you want for dinner...

nothing wrong with it just time to move on....

thanks for all the help guys heres what i gathered from your info and mine:

Apartment - 1,050
Car - 410
Gas - 200
iphone - 100
insurance (still on my parents by the way) - 120
utilities - 220
food - 350

grand total monthly income - $4,000+

Total monthly expenses - $2,500

Those expenses are bare minimum and doesn't include any fun stuff like restaurants, movies, and other stuff

so basically if I just go to work, and come home every day and do nothing else Ill profit $1500 every month, add in $500 bucks for entertainment and some bets here and there ill still be able to bank around a grand should be fine

Thanks again everyone and more input is definately still welcome

Internet/Cable-Dish ?????

[Naz18]

Don't forgot to set aside $500 monthly to increase your bankroll...

[jdwars]

Are you accounting for income taxes??? $2k after taxes seems like a BIG stretch for an entry level accounting job in this economy unless you are a CPA that gets in with one of the big 4 audit firms (of course depending on what part of the country you live in. But if you make more because you live in New York, for example, your expenses will be more).

[stikymess]

Ouch on the car bro, but if it's what you wanted then it's what you wanted.

I think everyone pretty much covered everything or at least the obvious. Let me ask about the gambling! As this is a gambling forum, do you have that budgeted as well? Being young (you) it can get out of hand very quickly. I think everyone has been in that boat, some just won't admit it.

Only other advice is try and find something with some retirement, pension, maybe work for the State? Or Feds? I know you are 23 and see retirement as far far away, but if you can get some company to put money away for you, you will be ahead of the game.

Best of luck and enjoy you freedom when you get there.

[jdwars]

Medical and dental insurance. If you are not a full time student, you can't be on your parents' plan. I think you are REALLY going to be shocked how much that costs. Even if you employer pays the majority.

[RedSox88]

medical/dental covered by the firms.... thanks for the advice stickymess...

As for the gambling, I am more of a poker player than a sports bettor but the guys on the two plus two forum suck haha so I play tournaments and cash games when I can no real budget for that if I can afford a tourney here or there i will if i cant no big deal...

[19th Hole]

Congrats on the accounting degree.

I wish you every success.

[jdwars]

"medical/dental covered by the firms"

[iceminers26]

you'll need at least 1k set aside for your weekly visit from the whore of your choice... would suggest backpage over craigslist, better selection

now that we have the important area out of the way, cable, internet, utility, etc.

good luck, you'll enjoy it, I remember when I first moved out... was 16 and it was unreal

[CollegeOverUnder]

this is one of the best threads ive read on the forum in a long time

[griz]

good luck

tell parents to keep the room open, as you will most likely be back. why would u leave now when we are about to go through 2008 again? take it from another recent college grad who pays alll the bills. never, ever, ever leave home until they kick u out. or unless u have a girl and want to fukk every night. come on dude, use ur head. your mom asks u what u want for dinner. when u live alone, u will head down to mcdonalds, get a mcchiken, masturbate to porn hub, then watch espn till u go to sleep


be smart pal, never pay bills until u are forced to!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!

[Ricki Roma]

good luck

tell parents to keep the room open, as you will most likely be back. why would u leave now when we are about to go through 2008 again? take it from another recent college grad who pays alll the bills. never, ever, ever leave home until they kick u out. or unless u have a girl and want to fukk every night. come on dude, use ur head. your mom asks u what u want for dinner. when u live alone, u will head down to mcdonalds, get a mcchiken, masturbate to porn hub, then watch espn till u go to sleep


be smart pal, never pay bills until u are forced to!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!

G.o.a.t post, read everyones mind.

But redsox88 here sounds responsible, smart and is ready to kick the world's ass so good luck to him.

[OMGRandyJackson]

This guy is an accountant...yet he cant figure out how much living on his own will cost

What a joke

[DemoralizdDreamr]

This guy is an accountant...yet he cant figure out how much living on his own will cost

What a joke

[Bo$$ Bet$]

Rent: to damn much
Bills: to damn much
Moving outta ur parents house: PRICELESS

There r some things money can't buy for everything else there's Bo$$ Bet$ Point Loan$

[Bo$$ Bet$]

This guy is an accountant...yet he cant figure out how much living on his own will cost

What a joke

Hahaha that is funny

[SpreadSniper]

Just stay with your parents and sponge for 2 years... You "bought" a WRX and will probably make more impulsive purchases because "you think you have money" well you dont guy....
Ive lived on my own since I was 16 and I WISH I had some kind of support system that set me up for success. Instead Ive wasted 10's of thousands of dollars on rent, partying, women and various other things that made me happy at the time.....

We all want to remove ourselves from any kind of authority figure and live on our own terms.

I am humbly suggesting you re-consider, stay at home and build a bit of a roll you can be confident with.... living pay cheque to paycheque is no life you want, I promise.

[hoop22]

good luck

[Erock87]

I graduated college with an actuarial degree in 2010, and my wife and I were able to buy a house in 2011. Granted I make some money from my military endeavors, and she has a decent job.

If I was single, I couldn't do it - no way no how. Just wouldn't be able to afford it, and I feel that I do better than most of my peers.

I recommend taking the advice of most people here: Stay home, unless you are in a relationship at which point he/she is willing to contribute. Otherwise, bank that money, and save up for a down payment for a house. Housing market is going to stay low for at least another 2-3 years, so no worries in missing that boat.

[jarvol]

so basically if I just go to work, and come home every day and do nothing else Ill profit $1500 every month,

Or live with your parents for another year and profit $3000 every month.

[jjgold]

Son your in no position to move right now

Wait until you get a real job..all great advice here though