As of this Friday I will be starting my first real job as a middle school teacher, making $43,000/year before taxes. After taxes, I'm down to about $31,000 at $2,600 per month. (Actually, a little less than this, when you factor in health insurance and other deductions from my paycheck. I am not entirely sure what this will be yet.)
I am currently looking at an apartment which is roughly $800/month + electric (~$100-200/month). I currently have a $600 monthly student loan payment. I spend about $40 a month on gas. I estimate to spend about $200-300 on food. If I get the internet plan which is available there, it would be about $90/month. I have no plans to get cable. There are also other expenses which slowly cut away at my income.
After all of these expenses, I come out at about $400 in the black. Is this too little?
I am currently renting a room in a friend's house for $400/month. Financially, I am much better off staying there, but I really want the experience of having my own place. (Also, I'm getting tired of living around some in-family drama.)
Some other factors:
- Much shorter commute to work, from 60 min to 25 min
- GF is only 30 min away
- 900 sqft apartment, 2 bedroom, 1 bath. I don't need this much space, but practically all of the other apartments I have seen around this area (Central PA) are around the same cost, for nearly 300 square feet less
- Includes dishwasher, stove, refrigerator. No w/d, would need to go to laundromat
- Quiet town, good neighborhood, perfect for the nights I really need the sleep
- No real savings at the moment.
Is it realistic to rent an apartment at this cost?
Should I wait it out at the friend's house while I build up savings?
Submitted August 11, 2015 at 07:40AM by GreyVersusBlue http://ift.tt/1Tnfebc personalfinance
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