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I know I make enough to live with a room mate, no problem, but at 23, being out of college, I feel I am past that now. Ive lived at home for a year now after I graduated. I need out, and I want to live alone. What do you think?

Income: take home 2250 a month AFTER all insurances and 401k (save 300 a month for 401k)

Rent 700 that includes all but electric
Electric: 40-100 depending on month, estimate based off electric payments of area friends
Car: 200 payment
Gas: 100 this is current, wouldnt change
Cell phone: 50, current would change
Food: 200, estimate
Internet: 24, current wouldnt change
Entertainment: 100, current wouldnt change
Car maint and misc (gifts, co-pay, oil change, etc)- 100, current wouldnt change
Personal hygiene and household supplies (laundrey etc)- 100 estimate for household supplies
Renter’s ins- 15, estimate based offf quote
Car insurance: 80, current wouldnt change

Total : Around 1800. What else am I missing from budget??
Savins: Id like to save atleast 200 a month in liquid savings. And 50 a month for vacation fund.

I do have an emergency supply

4 Thoughts on Do I make enough to move out alone? Is this budget realistic?
  1. Reply
    April 9, 2012 at 12:28 pm

    Yea u make enough u have maybe about 100 left

  2. Reply
    April 9, 2012 at 12:50 pm

    Yes there will be more unplanned monthly expenses. It if always best to increase the total amount of your budget by about 20% to cover all your bases so $ 1800 divided by .8 is $ 2250 (Perfect). I think you are ready as long as you have enough for the first months rent plus a security deposit. You will likely have to get a co-signor on your first apartment, unless you have stellar credit. Good Luck and be sure not to burn any bridges when you leave the parents house.

  3. Reply
    April 9, 2012 at 1:21 pm

    Ok so you earn way over $ 13 an hour (and $ 12 is the base line for getting an apartment).

    Need about $ 2,000 to start up at your apartment, you might need draperies, towels, sheets, furniture, dishtowels, start-up things like lightbulbs, shower curtain, silverware, dishes, pots and pans, microwave, etc.

    How about moving costs…’d have to pay deposits (on electric, you might have to put a small fee on the fire extinguisher).
    I found that when I earned as much as you do I had to do away with gifting, and I allowed myself to go to a restaurant only once a month and if I did eat lunch with friends that shot my budget.
    I buy checks every so often, and stamps (and ink and paper for my computer). If you have a credit card you’d be paying monthly on that (people get credit cards for emergencies). Would you have enough boxes and stuff to rent a storage unit? What about clothes for work?

    If all of a sudden you find yourself out of work you’d need to plan ahead with saving some money just for discretionary purposes like looking for another job.

  4. Reply
    ck daro
    April 9, 2012 at 1:38 pm

    Yeah you do.

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