can you afford rent on a part time job
Cash left for Discretionary Spending, if public transportation. Groceries/food est. Car loan or lease payment -$4,960 Take another look at the chart in this post https://www.myfirstapartment.com/2016/07/how-much-rent-can-i-afford-on-my-hourly-pay/. Good luck! $1819/mo gross. Public transportation monthly pass (est. Total housing $1,350 Total Monthly Essential Expenses -$2,497, Cash left for Savings and Discretionary Spending 4.) Est. insurance?) These cookies do not store any personal information. Car payments (incl. Credit Cards -$35 -$250 Laundry/Dry Cleaning -$40 If you are living at home, stay there and pay off your car before you move out. My boyfriend and I want to get a 2 bedroom apartment in the $775 – $815 range. Utilities 20% of rent (electric, water, trash, internet) -$120 -$300 Hi Sasha, Gas -$50 Your IP: 118.67.248.230 Hi S, We each have about 550$ a month in bills/cars/student loans we pay. Per month take-home est. If your car insurance is much less than the average and you are a frugal cook, you might be able to get the rent target up to $500. Keep posting…. -$300 It seems high, unless you have a terrible driving record. Credit Cards $0 I work at University, just start a month ago. Pay/hr $16.25 Estimated Utilities: $275 Estimated annual take-home pay $26,325 -$60 rent -$650 Elle’s Budget: Max. Health Insurance (See below 3.) I was by no means the only one, lots did it. Groceries/food est. $0 What is the highest rent I can afford? Credit Cards $0 An apartment in Dallas currently has a studio apartment for $695 per month, cable ready (not sure what that means), I don’t see any utilities included, nor internet. Ideally, you’ll have enough to put 10% into savings and still have about $100 a week for discretionary expenses. Thank you so much. Credit Cards Car Payment -$275 Laundry/Dry Cleaning -$40 Credit Cards Looks like you can easily afford the basic formula rent, 35% of your take-home, or $709 a month, even $800 if you must. Gas $0 Pay/hr $15.00 rent is $450. $125) Use this budgeting worksheet to estimate how much rent will be right for you. Public transportation monthly pass (est. Savings (target 10% of take-home) -$244 Check it out. Credit Cards $0 I want to move but can’t afford it. Thanks so much! I own my car and I’ve paid up my car insurance for the next 6months. Pay/hr $11.50 Not knowing how much your student loans are, it’s hard to know if $900 rent is doable. Savings (target 20% of take-home) No car note or insurance. Loan- $100/Month Your minimum savings target is 3*$750=$2,250. taxes/deductions 25% ($6,375) Double check your numbers with this worksheet. Hours 40 -$300 I make $18.25 / hourly @ a steady 40 hour week. Hi Savana, Hello, I make $17.50 per hour & work 40 hours per week. or Commuting $0 Monthly take-home pay $3,900, Monthly Essential Living Expenses In your case that would mean max. Gas Monthly take-home pay (above /12) $1,900, Monthly Essential Living Expenses It looks like you can afford that $950 apartment even if we just include a 40-hour week. Can I afford that? Can you find a place for around $350 a month? I get paid 17/hr and typically work 40 hrs a week.I do have a student loan that I pay monthly at $50. At $14/hr. Est. Pros and Cons: Studio vs. One-Bedroom Apartment, What to Do During an Apartment Power Outage. State Income Tax $1,100 ($50 each) $0 Gas $100 (I live 15 minutes from my job) I want to move out with my girlfriend on one income. It all depends on how many other monthly bills (car loan? Car payments $0 Good luck! Per week (30-day month) $174. Child care $76. Health Insurance (See below 3.) Utilities 20% of rent (electric, water, trash, internet) -$340 Laundry/dry cleaning est. Groceries/Food -$300 $40,000 Metro Card -$114 However, depending where you live you can probably get a very nice place for less than that. Try to solve the shortfall dilemma as soon as possible, before you fall into a credit card debt hole. Hi Scarlett, Total Monthly Essential Expenses -$1,682, Cash left for Savings and Discretionary Spending 4.) If you live frugally, you can start putting 10% of your income into savings. Groceries/food est. I have my car which is $229 & my insurance $225 and my phone bill $120. No car note or insurance. Groceries/food est. Gas -$50 Cash left for Discretionary Spending, if has car $442 Groceries/Food -$300 Savings (target 10% of take-home) $0 https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ Good luck! Credit Cards $0 $125) The answer is still pretty much the same. Clothing, entertainment, vacations, etc. Is this feasible? 70 for phone month. Total/yr (50 wks paid) $40,000 ($23.66 at 40 hr/wk) $47,320 Car insurance $0 If you bring home after taxes about $1,200 a month and have two children to cloth and feed there is no way you could afford $700 in rent. cable/internet (20% of rent) -$100 First, calculate your rent budget without your bonus. Good luck! What can blow your budget easily is eating out (and especially the drinks! Is it a good idea financially to move out now? Hi Stephanie, Student Loans Car payments $0 Good luck! Good luck! Car payments -$370 Gas est. Student Loans $0 Total annual pre-tax $26,500 With your income, your max. Our rule-of-thumb is that you need to have 3 times your monthly rent saved before moving, but you should aim to save more, in order to leave you an emergency fund after your moving-related expenses. Total Monthly Essential Expenses -1011, Cash left for Savings and Discretionary Spending 4.) Total/yr (50 wks paid) $30,580 $1,842 I make 16.60 an hour.

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