Apartment Price.....

[TankgirlyC]

Ok----I found this place living with 2 other girls in this location I want.....
its $600 a month and we only have to split the cost of the cable because everything else is included.

With all my other bills.....it would only take ONE of my 2 monthly pay checks to cover EVERYTHING....

Is that good??

[pisces2473]

When you say everything, what do you mean? Rent and cable, plus whatever you pay for would take up all of one check? OR the rent and cable would take up all of one check?

For your area (metro Boston), I'd say that's good. My friend lives in Somerville and pays $500/month for rent w/ everything included. BUT, there are FIVE girls living there. So I would say paying $600 isn't bad, especially if it's in a location you want. I pay $650/month in CT with nothing included (oh free laundry). Heat and hot water are on my electric bill and obviously I pay for my own phone and cable. Just something to think about
:)

[bamboo3741]

If you are talking Metro Boston, that is a pretty good deal, depending on what condition the place is in, the laundry situation, location etc. I pay $800 a month for rent for a tiny studio in Cambridge. In the past to share apartments, I have paid 5-600 a month with nothing included. But it depends a lot on how close you are to the T, etc.

[TankgirlyC]

One pay check would cover, rent, cable, car payment, cell, car insurance, food, gas for car....

The $600 is for rent and utilities....just NOT cable.

[TankgirlyC]

The place is in Dedham....I work in Waltham.....so I dont need the T.

I want to live with people-----I dont know many in the area...so tahts a good way to make connections...

When I have enough $$ Ill get my own place..but prob not for a year or longer.

[pisces2473]

Go for it, Tank! That's a GOOD deal!

I get paid every two weeks--one check is rent and maybe a bill or two...the other check is mostly bills, food, etc. It looks like the money I'm making from job #2 I'll be able to save--FINALLY.

It seems like if ONE check can pay ALL your bills, you are in good shape. The other check can go towards savings or doing some fun stuff, etc.

[klo1335]

I say go for it!!!!!!!!!!!! I just moved out on my own and although I am poor...I wouldn't trade it for the world! How big is the apartment?

[andrewx]

Congratulations!

Go for it Tank!!!

Andrewx

[SmilesSoSweet]

That's a really good deal. One pay check that covers pretty much all of your basic expenses is great. I've read that rent should not be more than 35-45% of your monthly income. Add all the other stuff to it, and you should be just fine. I pay $625/month for rent, plus all my other expenses (car insurance, student loan, phone, gas, food, cell, cable, electric, gym membership, etc.) and it's pretty much about one paycheck's worth and plus a little of my other paycheck for the month.

Glad to hear that you've found a place you really like. I was fortunate enough to finally find a new roommate. Now I don't have to worry about paying a $1250 monthly rent!

Good luck!

[TankgirlyC]

Ok so I ran numbers more accuratly last night....turns out I would only have $400 left EACH month after rent and bills.

To me this seems like a TINY number....one that would be hard to survive on. I would be able to go out ONCE a month if that....

Am I being crazy?

[klo1335]

Not at all. Thats basically what I have after I pay everything. At first I thought it was going to be crazy and make things really tight for me. But being in your own apartment is definately worth it. Besides, its ok to be broke in your 20s :) Or thats what everyone tells me. everything will be fine so go for the apartment. You won't regret it. I love not living with my parents.

[pisces2473]

My god, that's a great amount of money to have left over! You can't go out on a shopping spree every month but you WILL have enough to buy food, supplies, a dinner out here and there, etc. You'll have to budget and plan, but you've been doing great so far (from what you've told us in other posts) so I'm sure you'll be fine. Plus, think how stress-free your life will be when you don't live at home!

My permanent monthly expenses:
$650--rent (really my rent would be $750 but my g-pa is landlord)
$90--phone, internet (billed together)
$40--cell phone
$150--food, supplies (maybe I'm figuring high)
$50--electric bill
$200--towards Master Card balance
$50--gym
$20--therapy appts($5 copay)
$12--cable
$53--train ticket to work
$30--gas

Total:$1345

I just got promoted with a raise, so I take home around $875 every two weeks. But I am not saving money, so obviously I'm taking out cash to go out with, buying things with my debit card, etc. I also have other credit card bills that come in every once in awhile, like when I use the card (Old Navy, Kohl's, etc). So the money is gone...

[andrewx]

Tank, I will be a little blunt: Please move out of your parents home. You have a lot going for you. Your parents, regrettably, seem to be your biggest problem. The best way to rectify that situation is to move out.

Look, it WILL be necessary to cut back on luxuries when you move out. But it is worth it, in my opinion.

One more thing: My own salary is only about $24,000 per year.
I may never earn much more than this. YES, I could spend more on luxuries if I moved home with my parents. HOWEVER, I don't want that.

I wish you the best of luck.

Andrewx

[pisces2473]

I would like to edit my previous statement...Just got this week's check--around $810. Don't know what could be the discrepancy from one week to the next, but maybe it is because of health care deductions? Grrrr...

[TankgirlyC]

AndrewX....
As much as my parents are my worsed problem....moving out and being anxious about $$ all the time isnt really any better.

Its not a matter of cutting back luxuries...I barely spend any $$ as it is. What it comes down to is that with only $400 left at the end of each month...I wouldnt dare spend but on my bills.

I dont think just going home and to work is really a way to live....I dunno.

Ok just my thoughts.

[pisces2473]

Well Tank, isn't that what you do now???

That's what most people do--go to work and go home. What would else do you want to do that you aren't doing now?

How much money do you have left over now after bills? I think $400 is a considerable amount of money and a lot more than most of us have after bills. Consider yourself lucky.

[andrewx]

Tank, YOU are going to have to make choices about your life. I can not make them for you.

Respectfully,

Andrewx

[TankgirlyC]

Its not during the work week that I would want to go out. Im talking on weekends when I have free time I wouldnt leave the house either....
At least while Im home with my parents I can go out on a weekend and go to dinner if I want....or catch a movie...not that I do either very often...

Do you get what Im saying? Just that yeah it would be great to have my own place.....but I wouldnt go out and enjoy myself at all due to the $ issue.

[pisces2473]

Why wouldn't you leave the house if you lived in an apartment? You can go out--a lot of us do, we just don't spend a lot of money or do cheap things.

And this is going to sound harsh, but no, I don't get it. You can't have your cake and eat it too, unless you make a LOT of money. Welcome to your 20's--you're supposed to be scraping by. No one these days is well off. I noticed you don't have any loans to pay back--you are SO MUCH better off than A LOT of people I know who make over $40K and STILL have school loans to pay back. You need to stop complaining! Either move out or stay home.

[andrewx]

I have to entirely agree with Pisces2473.

Respectfully,

Andrewx

[TankgirlyC]

I wouldnt leave the house due to the fact that all $400 would be going into my savings...nothing left to do even a $2 theater or get a scone on the way to work as a treat!

Yes I know that I dont have loans to pay back and am very lucky in that fact....
I also know I cant have my cake and eat it too----

I just think that in your 20s...you should be going out ONCE a week and doing SOMETHING......but I know that my fear of something happening and only having $400 left...would prevent me from doing so----so I would literally only drive to work, and home and only go to work and home.

I live very cheaply right now...when I go out I go to bargain places....or do free things.....but I would even scrap driving to RI to save $ on gas! Thats really how extream it gets...just like with food...I would skip meals to not have to pay as much per month to eat...

I dunno---maybe Im just crazy.

[pisces2473]

Tank,

I don't think you're crazy, but you are being too hard on yourself. Skipping meals to save money? For what? You can't worry so much or plan for everything. Do you have savings for emergencies? That's all you need. Don't you think I worry sometimes about not having enough money? It's a part of life.

Yes, you can and SHOULD go out once a week and do something--but you have to plan for it. You don't spend $50--shave it down to $25. All about budgeting. And I'll say it again, some people would love to have $400 left after rent and bills are paid. You are in good shape! Why don't you understand what we're all trying to tell you?

I think you need to conquer whatever fears you have about running out of money. You are a smart girl, but you won't give yourself the chance to have a LIFE.

[klo1335]

You are only in your 20s once. What would happen if you were to die next week? You would look back at your life and thought how you did nothing but save your money. Sure its good to save money. I try to put away $50 a month into a savings account and this leaves me with $350 for the rest of the month. When you first see this it doesn't seem like alot of money...but it really is. I would rather spend the money now and enjoy myself while I am young and single then have money when I am older but be miserable because I never did anything.

But its going to be your choice in the end. Good Luck.

[andrewx]

Tank, I really do care about your well being. You are VERY smart and competent. You might have issues, however, that a professional therapist can deal with better than untrained people on an internet message board.

Best Wishes,

Andrewx

[TankgirlyC]

I do have some savings......it has dwindled because of my being laid off in April.......there is still some though.

As for what if I died tomorrow...I can honestly say that yes I would look back and think to myself...wow I didnt do much----but thats how its always been...Ive never really had any adventures....or just done something because I wanted to----Im not a risk taker....I dont like risk.....

Asa for just putting away $50 per month.....that to me isnt enough. $400 isnt even enough...its always the what if.

For having a life and shaving it down to $25 a week......to me thats still to much if all I have is $400....if I spent $25 a week thats almost $200 that Ive then spent on things I dont need...that $ could go to bills or the what ifs that happen.

I have no problem leaving home.....I just need to ensure that enough $ is going into my savings.....because if anything happens....I dont have anywhere to turn and no one to blame but myself for not planning better.

AndrewX.....you are right...I probably should talk to someone....but as of right now I cant. My parents wouldnt approve and would want to know why I was talking to someone...and again its $$ I dont have to spare.

[pisces2473]

You need to be good to yourself and treat yourself. You don't have to spent $25 every week on stuff, just every once in awhile. Think how much of a treat it would be NOT to live at home! And if you think you need to talk to someone that badly, you'd find the money. What about after your benefits kick in? Does your health insurance cover therapy?

You're taking some of the things we've all said a little too literally. They are just suggestions. We're just trying to help.

[TankgirlyC]

Even every once in awhile the $25 would seem like to much! Even if it was once a month or once every other month.

I dont view paying through the nose just to have my own place and not be in my parents home as a treat. I wouldnt be under their roof...but I wouldnt have any fun either...so really its synonemous.

My insurance does not cover therapy. Everything has to be referred from my PCP. They cant refer to specialists outside their field....so they can send me to a dermitologist----but not to a head doctor because its not something in need of "medical" attention.

I know everything said on here are suggestions.....and maybe I am taking things literally....but Im pretty much a literal person =)

[SmilesSoSweet]

I don't see a problem with your situation. pisces2473 is right, be glad that you do have $400 left over every month. If you're saying that $50 a month isn't enough to save, just look at is as 'it's $50 I didn't spend.' It's a savings account... which means in the long run there will actually be savings in the account. It seems that you want the instant gratification of having money saved all the time.

The first six months after graduation I was basically living paycheck-to-paycheck. But I still went out, not all the time, and also not spending like crazy either. It's all about budgeting...

Here's my break down on my monthly expenses:
Rent: $625
Electric: $21
Cable: $23
Phone: $16
Cell: $32
Car Ins.: $61
Renter's Ins.: $21
Life Ins: $22
Gym: $24
Student Loan: $225
Student Loan: $120 (every 3 months)
Internet: $24
Credit cards: right now all are paid off!!
Groceries: $50
Prescription meds: $25
IRA: $150*
401K: $150*
Custom Club savings account: $30/wk*
*money towards savings
Total monthly expenses: $1550 +/- $150

Yet by the end of the year I've managed to save 10% of my yearly income in my savings. My custom savings account puts $30/wk into a separate savings account that I can't access. Once a year it matures and it's over $1500. It's like going to an ATM every week, withdrawing $30 and putting in a jar and not touching it for a year. I don't notice that $30/wk is missing. It's too small of an amount of money to notice. And I make $17/hr plus overtime pay. I know many people that make tons more than I do, yet are no where close in savings as me. Yes, I am fortunate that I do know how to budget my money and save... I'm cheap as cheap can get when it comes to money. And I am fortunate that I don't have a car payment to make every month either. My last roommate had to move back to her parents house because she never saved any of her money. She was making $48k/yr plus commission, and was broke!!! She had to learn it the hard way.

Remember it's not about how much you make, but it's about how much you spend/save. You can't always worry about money and never take any risks. Then you'll just be too worried about the money and not have time to actually live your life. Get out into the "Real World" already and stop worrying. You'll do just fine. :)

Good Luck!

[libscigrl]

SmilesSoSweet: Only $50 per MONTH on food??

[pisces2473]

About the food, I don't know...$50 doesn't seem like a lot. I buy things on sale and will freeze chicken and stuff...

This past weekend I spent $38 at the store...fruit, yogurt, lettuce, tuna, canned chicken (for chix salad), paper towels and popsicles.

The day before, I had gone to a farmer's market and spent $5 and got 3 green peppers, 1 red pepper, 3 cucumbers and 1 pint grape tomatoes. If I bought that at the grocery store, I bet it would have been upwards near $10.

[coll214]

I always find it interesting how some people are able to save so much more than others when they don't make anywhere near the same amount...

I agree with smiles....$50 saved is better than nothing...i know i've had some months where i haven't been able to save much, but i always try and save something...

It's possible to not spend alot on groceries a month if you're careful, i don't usually spend anymore than $70...A lot of times i try to make things as well that can be freezed and eaten later, or leftovers for lunch the next day- it works out much cheaper that way!! :D

[SmilesSoSweet]

$50/month on groceries is possible. I rarely go out to eat, and I don't count going out to eat as a part of my grocery bill. It's all about coupons and club cards. Over the weekend, I actually did go grocery shopping. Before coupons and club savings my bill was at $83... then came the savings and I got it down to $51! I grew up in a military family, so I was used to the cheaper cost of food at the Commissary (on-base military grocery store.) So I guess that's where I got my cheap shopping from. I also try and buy the store-brand labels as much as possible and I buy all my bathroom stuff at Target or Walmart, which is much cheaper (of course I use coupons there too!) I make a lunch about 3-4 times a week, and that saves me money on going out to eat for lunch. Usually I'll cook something for dinner, then pack some of it up for lunch the next day. I'm also excersing a lot more and I'm not home as much to eat the food I buy, which is also good, because I stopped buying junk food and soda too. :)

[pisces2473]

I too buy store brands of everything possible and shop the sales and I don't buy junk...but I can't get my monthly groceries down. I pack lunches everyday too! Maybe CT is just wicked expensive...Coll, what do you think?

I think what helped this month is that I went to a farmers market...but I live in CT and the growing season will not be much longer...then veggies and fruits SKYROCKET. And that's mainly what I eat! :eek:

[coll214]

I think that CT is high for a lot of things...and grocery store prices vary greatly from town to town which doesn't help. And once winter hits, your fresh food practically doubles in price. Not to mention the different grocery store chains. I've also stopped trying to have the cabinents chock full of food all the time; i'm only one person!!!

I just try to buy what's on sale, I"m not huge fruit/veggie person but do buy some, and get as much stuff as i can at walmart/target that's non food since it's so much cheaper there.

I don't consider the money that i spend when i go out to eat as food expenses either- that's w/ my money for going out.

[seren1411]

rent = $520 (utilities included)
credit cards = $80
internet = $30
contact lenses = $20
bus fare = $50
cell phone = $30
TV licence = $15
food/cleaning/hygiene = $100+ (store brands - of course!! UK stuff is all hideously overpriced)

I get equivalent to a little over $1000 dollars per month from my grant (it comes as £2000 paid quarterly and I never manage to budget right for the last two weeks of the quarter) and I'm not allowed to work more than 6 hours per week to supplement it.

I've already spent $840 out of $1000 before even considering buying study materials/ having a life. I manage though!

I'm 26 and have no savings and no insurance. But I also have comparatively low student debts and have never had to call on my parents for financial support.

[red]

i love the farmer's markets- when i go out to the country to visit my parents i can get bags and bags of fruits and veggies for like $20. i live in queens and the produce at the grocery store is often disgusting and always overpriced. even farmer's markets here are not cheap, but at least the stuff is not half-rotten.
i save money by shopping the sales too, but a lot of the stuff they have on sale is processed and not what we like (we eat a lot of fresh stuff) and we're kind of picky. but i do save by checking the receipt every time i leave the store. my store has a policy that if you are charged the wrong price for a sale item, then you get it free. i swear, i get something free almost every week.
i bring a lunch everyday (usually some kind of salad or veggie/protein combo and a yogurt and pretzels or a bagel, etc) and it saves me a lot of money. we also don't eat much meat- we eat fish and occasionally chicken and i only buy organic dairy (or soy-based), so we spend more like $200 a month for two people. still not bad considering the fact that we are big eaters.