Apartments-How do I pay>??????

[forevertheinter]

I make b/w $40-$42K a year, which really is like $25k after taxes. How can I afford an apartment and how can so many people my age do it??? I still live with the 'rents and I am going crazy and living pay to pay.
Can someone help!!!!!!!!!!!!!!!!!!!!!!!!

[Unregistered]

No offense, but where in the world do you live that you can't afford to be on your own making over $40k? I live in Seattle where the cost of living is close to the top of the list in this country and if I made that much money I'd be loving life! If you plan to live alone, you can always find a nice, small one bedroom apartment and be just fine. Also, I think you need to recalculate your taxes because no state I know of would take over 35% of a $40k salary - that's absurd. If I'm wrong and you really give up that much, than I'm sorry, but it's hard to believe. Good luck with everything - it's just hard to hear someone complaining who's making such a good salary at age 25.

[Unregistered]

YO! I live in Manhattan(!!) and make 29K, my b-f makes practically nothing ($8/hr-32 hrs/wk)--we have a studio, so it's very small, but there's no way you live anywhere that's more expensive than here ($1400+/mo). Bite the bullet and MOVE OUT!

[crazy-girl]

Yeah, I'm a little shocked by your statement. I made 17,000 at my first job out of college and then made 22,000 at another job and afforded a one bedroom apartment for myself with no help from the parents. I mean, you won't get a fabulously nice apartment and it won't be furnished with stuff from The Pottery Barn and you will be eating Mac'n'cheese but it will be yours.

[forevertheinter]

I don't think anyone sees what they are net worth, here. I make 1000 every two weeks after taxes. Which makes it to 2000 a month. The cheapest partments in NYC are in the 1100-1400 range and are smaller than a normal bathroom. How do you save anything then on 400-500 hundred a month.

That my friend is the reality

[lonelypghgrrl]

I live in Pittsburgh. Not actually the city with the highest cost of living, but high enough. I make 40K a year...that's about 1000$ a paycheck. My bf is a corrections officer and makes 25K a year. All before taxes. We STILL live paycheck to paycheck. Our rent is 650, natural gas heat is 300/month, electric, water, car, insurance, groceries, etc. We are BROKE! We have no savings. Luckily we both have health insurance from work. Don't tell me you'd be livin' large on 40K a year. You always live above ur means. And we dont go out or anything. We can't afford it.
Neither could you.
:p

[malaynab]

We're all in debt . . . that's how we afford it.

That's the trade-off. . . Do you go for instant gratification? or do you save for the future? If you want to save any money, you probably can't afford an apartment. If you're willing to spend it all now, and start saving at a later date, move out. I've been out of the house since 18. I am living in a nice apartment now, however, I have no money left at the end of the month to put back. (I'm also in some serious debt, but that's another post). You CAN move out and afford it, but realistically, you'll probably end up in debt like me.

Look at what you'd gain by moving out, versus what sacrifices you'd make. If you're willing to sacrifice, go for it . . . but be realistic about the way your lifestyle will have to change.

Malayna

[Jayesh]

Ok, all you guys living in Manhattan and cant afford it, cant you move to NJ or something?. You will most probably have to travel a lot everyday, but that's life!! I personally think a person earning 40K should be able to live on his own or share an apartment with someone. I mean if you are living with you parents, and earning over 2000 a month, where are you spending all of that money?? definelty not food!! clothes? You need to start budgeting

[Unregistered]

i live in so. california, where the rent is also high ($1200 month). I make $43,000K a year, which is around $1200 a paycheck, so yes... they do take out that much in taxes in response to another post. You should easily be able to make a budget to live on and still save money. Get a roomate... let's say you end up paying $700 a month for your half of the rent, that leaves you with $1300 a month. Here you go:

Rent: $700 (and that's high for 1/2)
Car: $350 (if you're paying more, get something cheaper)
Utilities: $100 for your 1/2?
Groceries: $300 ($75 a week)
Car insurance/gas: $150?

These are the esentials and the total is: $1600

That leaves $400 for saving, misc, credit cards, clothes, and anything i missed. Move out... you can afford it.

[joie]

Yeah, I'm in debt living in Manhattan, but there's no way I'm moving to NJ...
First of all, it would make the commute MUCH LONGER and more expensive (even by train, still more expensive than I pay now--$1.50 subway ride!). It would seriously add at least one full hour, if not more, to my commute time, and that's really adding at least 2 hours round trip...I don't know about others, but I don't like to get home at 7pm or later when I'm finished at work at 5:30!

2nd, I don't have a car...Manhattan is one of the only places you can live, work, have fun, etc., without a car successfully--you can get nearly anywhere by train or cab. (No car also means no car insurance, tags, parking costs, gas, oil changes, etc.) How am I supposed to move to NJ with no car?...they have NJ Transit, but you can't get around town or grocery shop, etc. without a car. Brooklyn or Queens would be better choices, but even that adds about 45 min. to commute time (I work in Mid-town). If I have to buy a car (even a cheap, used crappy one) I'll spend all the $$ I'm "saving" on the car and its upkeep.

3rd, you just can't beat living in the city. To me, it's worth it to eat PB&J once in awhile for dinner to live in the greatest city on earth. You have to decide what's important to you.

Also, I'm not sure what kind of apartment you want, and yes, everything in the city is small, but you can find a studio for under $1000. Check out the Voice!

[Unregistered]

I totally know what its like...I make like 33,000, pay my own rent, car insurance, gas, etc. Cable alone is like $60 (but that's one thing I won't give up, especially with no cash to party with). I shop at pretty expensive stores, eat pretty well, etc. I don't live in a super cheap city either. Its really hard. But there are stupid things you can do to make money stretch further so you can live happily. Rule # 1: Always bring your lunch to work. ALWAYS. Other suggestions, drop the long distance and use your cell. Make sure you get the plan with a million nights and weekends. Set a weekly budget for fun. Take it out on a Friday and DO NOT TOUCH THE ATM OR CREDIT CARDS AT ALL OTHERWISE. That way you can enjoy the weekend, and if you have nothing left for the week, then who cares, since you bring your lunch anyway. If you do have extra cash, go to a movie or something. There are dozens of ways to save cash, even in NY ( I just moved from there). MOVE OUT...its worth it.

[Dymphna]

Forevertheinter,

Life is full of choices....sometimes you have to give up one thing to have another. If you really don't like living with your parents then you have to figure out what you are willing to give up, like saving more than $100 a month, shopping at expensive stores, or whatever, in order to be happier.

I live in Boston, where rent is not exactly cheap, and I know that I had to give up having a car (and all that goes with it) in order to live where I do. I would prefer to live alone but I can't afford $1200+ a month so I have a roommate. I was lucky enough to find a great roommate and be happy with my living situation.

I think you need to figure out what you really want, is it your own apartment or just more freedom to be a "grownup" at home while living with your parents. I am sure living at home has it's perks too...which I am sure you miss if you move out on your own.

Good luck with your decision.

[TravelGirl]

I work in Midtown Manhattan and still live at home in Brooklyn. I don't like it but at least I am saving for my future. Granted it is nice to be on your own, but is it worth it by being broke? I mean it is nice to be in Manhattan and all but if you can not afford any of the cultural activities of Manhattan, what's the point? I think it is important to save for your future and not live paycheck to paycheck. My personal goal is to travel around the world and I do that by living at home. I commute 21/2 - 3 hours a day from Brooklyn but that is a choice I make. Think about what your goals are before you make any decisions either way.

[cpate]

I'm with Travel Girl. In the long run, it's best to save your money.

Look at Malayna's situation: she lives in a nice apartment, but she's in major debt. Once you're in that situation, forget about trips, or any kind of splurge, and don't even think you can ever buy a house until you spend 5 years digging your way out.

Think long term. It sucks to live at home, but if you budget, with that salary you should be able to save $500-$700 per month. If you can't, there's a problem. At the end of a year, you've got $7k in the bank. Trust me, it gives you great peace of mind to not be in debt- just look at Malayna's posts on the other threads...

[Unregistered]

Hi everyone,
I've been reading this interesting thread and here's what I did--
I lived at home with my parents until I was 24 (worked full-time and finished grad school part-time). I saved and saved and saved! I didn't go out much and didn't buy a cool car or lots of clothes. Then, I was able to save enough money for a down payment on a nice, starter house.

I am now 29 and things are going pretty well. I still don't have enough money to do some of the things I want - like travel - but I try to stay within a budget so I can plan for some fun without having to suffer the credit card debt.

I know housing can be pretty expensive. I live in the Portland, Oregon area where the housing costs just keep rising. There are still months when I live pretty cheap - no eating out - but I think it is worth it to have a place of my own. I also enjoy being able to garden in my own bit of ground!

Jennifer

[Unregistered]

Well, I live in the DC area in a nice neighborhood with a few roommates. Moved in here a year and a half ago, when I was 24 and had saved $KK. It's worth it if you can take it to live at home. I'm lucky to have great parents, I just need to be on my own right now. My roommates can bug me, but I can blow it off because we're not friends and I don't love them like my parents. I've stayed in touch with two of my old roommates, so it could turn out to be in your favor in the long run. With roommates situations, you have to go with your gut when interviewing, as with everything.

[Unregistered]

i am 24 and work in midtown. i make 32,000. i have a car, which i pay for as well. i live in queens- close to midtown and affordable if you share. but it all depends on what is important to you. i do the things that one of the posters mentioned: bring my lunch, live within my means, use the cell for long distance. i still travel. there is a cheap night for every museum in manhattan. you get get cheap theater tickets at tkts. and the summer is best of all for free culture- free opera was monday in fact.
some people in manhattan have the money to burn: on expensive clothes and manicures and take-out and dining out- it is easy to get swept up in all of that, especially the take-out part. i don't have the money for those things. but my parents are retired now. they raised me, they helped me to pay for college, and now they are on a fixed budget as well.
if you don't start living on your own in your early 20's, then when do you do it? i have coworkers and friends who are in their late 20's and still living at home.
i guess i can kind of relate more to the parental point of view bcs i work with a lot of women, all of whom complain endlessly about how their kids won't get out of the house.

[forevertheinter]

I have set this question to the board about a month ago, and in the begining, I received very harsh responses, but now (about 30 replies later) I can honestly say the email below, really painted the visual for me. Last summer I got completly caught up in the Gucci, Tao, Hamptons whirlwind of financial upheaval. I am proud to say that I am looking for an apartment and am moving in Aug 1. Thanks to everyone who supported me and showed me it CAN be done. Hey, reply before mine, I work in midtown, maybe we can "bring our lunch" and meet at Byant one day!