Tell me, does my budget need tweeking? Going on 18, working on moving out here in a few months…?
admin | Dec 16, 2010 | Comments 2
Question by mandy: Caution me, does my budget need tweeking? Going on 18, working on moving out here in a few months…?
I’m look for a relatively nice 2br whatever in Tucson, AZ that is cool with cats/dogs as boo and Mr. Chip are soooo not gonna make left behind.
Anyways, I’m going to work the job i seek into what I need to make monthly. This is the budget I have “intended”
MAX
Rent $ 600
Phone $ 50 *better cell or home?*
Electricity $ 300
Food $ 75
Pet Food $ 35 *$ 10cat, $ 15dog*
Gas $ 100
Save $ 50 *for emergancies, of course*
Total of $ 1200 a month with a required full-time pay of $ 9.38/h which translates to $ 7.50 take home pay with 20% taken out for taxes. Am i over/underestimating anything, really? Rent I’m hoping to pay closer to $ 500, but better to plot for the “worst”, yes?
And I will go with the money needed to make started. $ 2000 in trust fund as well as $ 3000-4000 in my own savings.
Answers/tips are much appreciated, and I know I didn’t factor in internet.
place on’t need new clothes every month, may place more into the food budget, the savings are there not only to be saved forever, but for emergancies *vet visits and such*
As spoiled as it is, my parents ar taking car of my car although insurance is an issue. Maybe I’ll do the automobile thing. deity did I never know how much living really costs.
Preeminent answer:
Answer by netthiefx
Weeeell it’s basically ok but I would consider electric to be around $ 200 (mine’s under $ 100 but it takes practice) and Food is going to be more like $ 125 / month or more (and that’s with some serious discount shopping).
What helps with elecric is spending $ 50 – $ 100 and converting the entire household to those new fluorescent bulbs…. It hurts at initially but I save an simple $ 20 / month like that.
Spend another $ 7 or so and make a water saver shower faucet from Lowe’s, install this and save another $ 10- $ 20 / month.
Reduce your hot water heater setting to 130 degrees (trust me, that’s still very hot).
Another thing is thermostat settings: 78 – 80 in the summer, 64 – 66 in winter (you’ll have to wear a sweater in the chill and shorts in the heat, but this saves a lot of money).
Laundry is another $ 5 – $ 10 / month but here just add another $ 50 and that covers a lot of bs then don’t not remember to place up your sleeve $ 20- $ 50 / month for clothes and about as much (so maybe $ 120 / total) for all of the above positive car insurance and repairs.
Oh, cell is usually a small cheaper but you’ll have to shop around.
Also on Internet you might make a package deal from cable for valuable tv + internet for around $ 60 / month…
I reckon rent might kick your butt…
You might check into roommate ads as well, it can save considerable money but it’s not for everybody and you can make took too, so idk but it’s an thought.
The only other thing is, it really would aid to have about an extra thousand dollars cash place up your sleeve for the initially month so you can cover all the extra nonsense such as security deposits and what not.
At smallest amount you have a plot, it’s not that far off, preeminent of luck.
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You haven’t budgeted for entertainment (unrealistic not to).
Sounds like you have it pretty much sorted even if and excellent work being 18 and having savings of $ 4000!!
you need to budget for clothes (25-100 depending on what you like to wear), entertainment(50), cable?, vet fees,car payment? , insurance , I reckon your electricity will be less(200) and your food more (150) and don’t not remember about intake out, your morning coffee at Starbucks? the small things add up too