Well due to some crap, to say it nicely, at home, I am needing to move out. Here is my break down of income, and what I am expecting to spend, any suggestions/comments appreciated.

Full time job- $1150/month
Second Job- $620/month
Total- $1770

Expected Costs per month
Car Payment- $307
Car Insurance- $270
Rent w/ Utilities- $550
Fuel- $150 (I'd live on property as i work at an apartment complex, and my second job is only 2.3 miles from there)
Food- $250
Internet- $50
Cell Phone- $30

Total- $1607

My income is more than my expected costs, but it never seems to work out that way...

 

stay away from take out and fast food,those will eat up money quietly but effectively. I have guys at work and thats what they do and they are always broke come payday..my .02

 

oh and also if you go wireless and one of your neighbors has wireless also then you can piggyback on their service (wifi) and save 50 bucks. You can check by disconnecting your cable input and see if you have access

 

Have you called GEICO? You could just get yourself an old beater, since you don't have far to drive anyway. Let the bank pay the $300/month... you won't need insurance either.. That's like $500/month you can spend on partying and chicks.

 

Sounds like a plan. Some thoughts

Do you have any kind of health insurance? I assume that you're young, and you might skate by -- but you want can always have some kind of accident.

Try to put asid a few bucks to see the dentist (plus brush and floss!). My teeth are marginal now because of neglect in years past.

Don't carry too much cash. Cash disappears and you never know where it went. Checks used to be the best, but nobody takes them anymore.

Pay your bills before you do anything else if possible.

I agree with the junk food comment

You could think about getting a beater and putting your high buck rig on storage insurance. That will cover any potential damage -- assuming that you have a garage to keep it in. Storage insurance is quite cheap.

Don't know how much web surfing you do, but you can often find public computers at the library. Also, many have free wifi if you have a laptop.

You might keep your eyes open for a better job. I don't know anything about your age/education, but you probably should start planning for a better deal.

Good Luck -- and remember that this advice is worth no more than you're paying for it.

 

you are more organised then i was when i left the nest make sure that you look for jobs alot you never know when a lay off will happen

 

You have to put right into a bank account money taken out of your paycheck,.to realize savings, for most of us.

$270 a month for insurance for one car? That is how much I pay for (3), one is a 2005 Chevy, and all are insured $100,000/$300,000 and low deductible.

That $300 a month car payment is a killer. imho, For the low miles you drive, unless you are really attached to the car, I would sell it,. even at a loss, and put the money into the bank and quit paying the insurance company.

Get a nice cheap 2.3L/5 speed Ford Ranger that costs nothing in gas, rated a C for insurance, and is easy and cheap to repair.

 

^^^^^+1 on the car and the insurance premiums. Again well said on junk / fast food. Limit yourself.

Go grocery shopping on a full stomach. Clip coupons for anything from food to oil changes.

Pay yourself a few bucks each month to build a small nest egg. If you find a lady friend, don't be a big spender. That won't impress her anyway.

Tim

 

Make sure you get permission from the person first as it is illegal in most jurisdictions to do so without permission. Unless you're in NY where its okay as long as you don't have to defeat security to do it. The legality or lack thereof does not prevent the service provider from cutting them off if sharing beyond their household is not allowed in the EULA. Allow your neighbor to know so that if the company finds out and cuts them off, they aren't running around saying WTH? Let them make the decision as its their service that it at stake.

 

You've gotten some great advise on here so far. Things may be bad on the homefront right now, and I'm not sure what the situation is, but if at all possible, maybe postpone moving for just a few more months to give yourself time to build up some funds for the unexpected.
According to your budget, you're clearing $163 per month. Here are some things to consider that would wipe that out quickly and where those reserve funds for the unexpected would come in handy.

Will you need first and last months rent up front?
Most bills increase a little bit every year, not to mention gas and groceries.
Unexpected vehicle repairs, battery, tires, radiator, transmission, tow bill.
Income tax, (refund or will you owe$?)
Unexpected illness, dr's co pay, prescriptions, balance unpaid by ins company.
Are ALL utilities covered in the rent? (heat , electric, water)
Vehicle registration
You will need some money to enjoy life, hang out wil friends, ball game movies etc.

Not trying to scare you or discourage you, but you'll be much better off if you have some reserve funds on hand before you take the leap.

 

Food..

For food we go through the flyers every week, make a list of what's on sale at each store. When meat/chicken go on sale, I pick up like 5-10 pounds, bag them in 1-1.5 lb servings, and store them in the freezer. For vegetables I'll get whatever's in season and not expensive. If brocolis are $0.88 we'll have those, if mushrooms are $3.99 I'll pick up a can instead. We put the leftovers in tupperwares that my wife can take for lunch. Every few weeks I'll make a spagetti sauce.. I make enough for 3-4 spagetti dinners and a lasagna, and make the whole sauce from scratch... canned tomatos are $0.69 a can and taste better than the paste they call spagetti sauce for $3.99 a jar. I also pick up a frozen pizza and frozen wings from time to time for those nights that no one feels like cooking and you're tempted to order in.

Gas... here gas prices tend to go up around Thursay/Friday when people get their paychecks and the spread can be anywhere from 5-10 cents a litre (17-35 cents a gallon)... with two cars that adds up fast. I use my truck for work and burn 2-3 tanks a week so I keep my eye on the price and make sure both our vehicles are filled up before the spike.

One of my friends likes to put money in a savings account.. if he doesn't he'll go to the bar after work every night until it's all gone. But my way has always been to be careful with my money. I bought a house before I bought a new car. I used to steal cable from my neighbors. When they stopped paying the bill and got cut off I didn't have cable anymore.

We eat take out or go to the restaurant maybe twice a month. If I'm working downtown and it's close to lunch I'll call my wife and ask her out on a date, or the weekend we like to go to the bookstore or shopping and then go home and order chinese. Those little things aren's not gonna kill you, but that $500/month on a new car that you don't need will just keep you spinning your wheels for the next five years.

I would put that money aside for a house. Probably been 7 or 8 years now but I was in my twenties doing construction, and at some point I had like $13,000 in the bank. I was driving a beat up old car, and every now and then I'd go down to the ford dealer and look at the new f-250's. Instead I went to a real estate agency and told them to find me a house. They found me a nice fixer upper for under 100k. I did all the work myself, now I'm laughing. Wife and I both have new cars, and because we're financially secure I can now take the time to get my business going. It's starting out slow... so I'm glad I busted my *** all those years because we're settled now I don't have to go to some j.o.b. just to live month to month.

 

Stay where you are. It doesn't look like you are bringing enough money in at this time. All you need to happen to you is one unexpected car repair and you're screwed, not to mention a trip to the emergency room, or even a few days in bed with the flu. If you do move, plan on finding a cheaper cell phone plan and getting rid of internet. Plan on eating a lot of ramen noodles. I see you didn't budget for laundry expenses and incidentals like that. Figure about $15/ week for laundry (this is a kind estimate) if you plan on using a laundromat. What about entertainment? No TV? Cable? Movie rentals? What about the occasional brew with friends? Coffee? It seems to me that you're putting the cart ahead of the horse, so to speak. Take a harder look at your budget before you pull the trigger.

 

Got any friends you could share a house/apartment with?? I did that and we had a blast!! We shared all expenses on rent/utilities. It is a great way to get your feet wet. One expense you didn't share is, do you have any furniture? Sitting/sleeping on the floor is no fun unless you have to.

 

Apartment comes with stackable washer/dryer, I work for the apartment complex so no initial deposits needed. I won't part with my truck, and I have a warranty so most unexpected repairs can be dealt with, and if not I work within 2.5 miles of where i'd live so a bike or bus isn't gonna hurt for a couple days while I get the truck fixed. Insurance has to be full coverage, and since im 19, I'm pretty screwed with prices lol. I do have 1000 banked away for emergencies, and will add onto this each month. Rent is actually $30 cheaper than i anticipated. I work 60 hours a week, so between work, sleep, and some online schooling, I don't have too much time to go out and party lol.

Thanks for all the other tips guys, much appreciated.

 

Good luck. You only live once, make the best of it. You may scrape by and you may not, but years from now, you might look back and simultaneously say "those were some of the best times of my life." and "what the **** was I thinking?"