Car Insurance -$381 Did someone guarantee it? Maximum Rent = 35% of take-home -$249 Hi Rainae, Insurance: 195 I have student loans at $300, health insurance at about $400 and am trying to not have a car to avoid other expenses, however that means needing to live closer to work which raises rent. im seeing 600 and something dollar checks i need and apt for my 3 year old and my 6 month old. It seems high, unless you have a terrible driving record. Credit Cards $0 Will I be able to afford this apartment and still save for vacations? Annual Salary Est. Because you dont have large fixed expenses, you can get your max. Total Monthly Essential Expenses -$1,663, Cash left for Savings and Discretionary Spending 4.) Other fixed bills $0 Savings (target 10% of take-home) -$293 Pay/hr $13.50 Cell Phone -$100 Total Monthly Essential Expenses -$3,216, Cash left for Savings and Discretionary Spending 4.) Student Loan $0 Annual Salary (see below 1.) Good luck! Of course, if you have 1-2 years of rent saved, you could make it, but we hate to see you use your savings on rent. Saving over 12 months $8,050. Less: Estimated taxes 15% (see below 2.) Total/yr (50 wks paid) $11,500 Est. Good luck! Cash left for Discretionary Spending, if public transportation. Car loan or lease payment Health Insurance (See below 3.) Cash left for all other expenses/Month -$143 Thanks. Other fixed bills -$300 I live in Philadelphia itll just be me and my son moving in I work 38 hours a week with a possibility of more can I afford this rent. My paychecks are bi-weeky and usually are $545 give or take a few. Cash take-home -combined $2,408 Hi kmtz, can i afford 700 dollar rent? Nicholas Budget: That $722 apartment is far too much for you. I am not willing to pay more than $600 a month in rent, Here are my current monthly expenses: Laundry/dry cleaning est. How much rent could I afford based on my following expenses: Groceries/Food -$450 First Apartment Budgeting Worksheet Hi Lei, Credit Cards $0 -$8,750 https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/. Car loan or lease payment $0 -$3,375 Or you two split it? she also works about 35-40 hrs/ per week and works one day on the weekend as a server and makes about 150 cash. Hi Makenna, Utilities, incl. Good luck! Cell Phone -$80 Ill use the budget sheet to calculate what I can afford to show me a realistic expectation. My current expenses include: The formula gives you the maximum you could pay with other typical expenses. I live in my paid off home and want to move to a apartment. Sometimes I get some overtime, and I do get PTO. Student Loan -$298 cable/internet -$50 First Apartment Budgeting Worksheet And if so the only I would have to pay for is electric everything else is included in the rent, we are being paid way below to afford rent and a vehicle and try to buy food and keep a child in college if i dont get overtime every single week im screwed i always fall behind and i got sick for month if my taxes did not hold us up that month we would have been evicted!! Health Insurance (See below 3.) Looks like you can carry $880 rent. Est. can I afford a 850 rent? Car loan or lease payment -$188 Good luck! -$3,648 -$300 Utilities, incl. Hi Austin, Student Loans $0 Estimated annual take-home pay $21,000 Job 1 I make 13.40 per at 35 hrs a week. Pay/hr $17.50 Child care -$200 Improve your background and credit record (it's easier than you think). Total Monthly Essential Expenses -$1,535, Cash left for Savings and Discretionary Spending 4.) Use the formulas in this rent calculator to develop an effective plan to see how much to spend on rent for your next apartment . -$50 Hi Riley, Good luck! To get a better idea, you need to use our printable budgeting worksheet and put in it your real take-home pay and real expenses. Hi Theone, Estimated annual take-home pay $18,700 Health Insurance $0 As always, make sure to double-check the numbers below. Nicoles Budget: New comments cannot be posted and votes cannot be cast. Other fixed bills -$400 Clothing, entertainment, vacations, etc. I work roughly 30 hours a week and make about $10 an hour. Groceries/food est. Ok i make 14.25 an hr get paid every week..car note is 528 an my insurance is 293 a mth plus phone bill 80 dollars a mth gas to work is 40 dollars a week i have a 4 yr old son..can i afford 753 for rent? rent is $650. Laundry/dry cleaning est. $619 6. After tax take-home BF $20,800 $22,000 Total Monthly Essential Expenses -$1,394, Cash left for Savings and Discretionary Spending 4.) Hours-GF 40 Public transportation monthly pass (est. Pay/hr $11.00 Pay/hr $30.00 I live in a small city where a 1 bedroom apartment starts at $999 a month And that is in Manitoba where there is nothing exciting and rooms for rent start at $600 a month I am currently on disability so it is hard enough to get a decent paying job even though I am not an idiot it is just my feet dont like to work, How am I supposed to live off $800 a month for disability. A rent in the $800 range looks doable to you two, leaving enough for all the other living expenses and even some room for savings. Pay/hr $14.50 Amount left for discretionary expenses $580 Utilities 20% of rent (electric, water, trash, internet) -$179 You will earn $9*10 hours*3 days =$270 less about $21 social security/medicare taxes = $249. $1,417 Utilities 20% of rent (electric, water, trash, internet) -$110 $395 Newark has free . Clothing, entertainment, vacations, etc. Hi! Good luck! Utilities 20% of rent (electric, water, trash, internet) -$120 Hi Caroline, We would like you to base your rent on that 40 hour income and save the overtime moneys. Add up your after-tax take-home pay for the last month, deduct the rent, deduct about $150 for utilities and all your other monthly bills. taxes/deductions 20% ($4,200) If you live frugally and learn to cook basic foods, you might be able to manage with extra $50 or so a week. $22,000 Your Budget Good luck! Pay/hr $23.00 However, because of your high car expenses and high cell phone bill, that is far too much. Hope their dad is contributing to their expenses. Hi Samantha, Car Insurance -$164 Pay/hr $13.50 This is awesome. Credit Cards Health Insurance $0 Car insurance $0 -$125 My bf makes 11.50/hr and will probably drop to part time to watch our child. Total Monthly Essential Expenses -$1,598, Cash left for Savings and Discretionary Spending 4.) Maximum Rent = 35% of take-home -$1,015 Laundry/dry cleaning est. $3,733 I do have 3 months rent saved up, but Im still scared Im not going to be able to afford everything. $400 a month??? $125) You are in a very high tax bracket, so its really smart of you to max. $150 in gas (work all around the state) Public transportation monthly pass (est. Thanks! After tax take-home $15,725 Less: Other deductions (health insurance, 401K, etc.) $125) However, its hard to give you an answer because we dont know how many hours per week you get. -$78 $101 $90 cell phone bill every month. How much can I afford? Credit Cards $0 Hours 40 I have a car payment of $290/mo, I have about $1500 in credit cards which I pay about $100 total each month. Looks like you can manage $1,600 rent eve with your high car costs. taxes/deductions 25% ($8,000) After tax take-home $19,125 cable about 160. HI! -$4,200 Child care Pay/hr $20.90 Car loan or lease payment $0 Cash left for all other expenses/Month $104 Hi Quanisha, Hello, I make 9.00 an hour, i work everyday 5am-12pm except Wednesday.So I get a little over 40 hours a week guaranteed plus tips which is only like $15 a day ( Im a cashier) and was wondering if I could afford a efficiency apartment for 430 a month & only pay electricity, which will probably only be like 60-70 a month at the most. Less: Estimated taxes 25% (see below 2.) Credit Cards Car insurance est. -$50 Gas $0 Utilities 20% of rent (electric, water, trash, internet) -$130 Is it possible to find a place in the $750 range that would work for you and the girls? Student Loans Max. Student Loans $0 I make $12.40/h and work 40 hours a week at least every week. -$8,775 Clothing, entertainment, vacations, etc. Student Loan $0 Socan I afford it ??? Savings (10% of take-home) -$168 Laundry/Dry Cleaning -$40 Health Insurance (See below 3.) Health Insurance: $71 Use the money you make from your hair job to start an emergency fund. Your Budget Hello! P.S. Annual Salary (see below 1.) Total/yr (50 wks paid) $40,000 Hi Haley, Start your budgeting by printing out and completing this worksheet https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ The example shows typical expenses for a single person, but you must know what the essential expenses are for your family, so include those. Laundry/Dry Cleaning -40 Utilities 20% of rent (electric, water, trash, internet) -$100 $5. Utilities Est. I have a credit card but the balance is $0. Health Insurance (See below 3.) I receive $925 a month. Hi Scott, -$2,470 Clothing, entertainment, vacations, etc. taxes/deductions 25% ($6,000) Groceries/Food -$300 Happy you like the app. Let us know if you find a way to lower that insurance bill. You really cannot afford $1,000 + rent if you also want to go out with your friends every now and then. Total Monthly Essential Expenses -$1,808, Cash left for Savings and Discretionary Spending 4.) Laundry/dry cleaning est. Based on the limited information you gave us, it looks like you could afford About $1,000 a month for rent. Laundry/Dry Cleaning -$40 Car Insurance -$150 Why dont you take this year to get back on track. https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ Keep on looking for a 2BR and a roommate. If you have to pay for daycare, you probably cannot afford your own place. cable/internet (20% of rent or $100) -$100 rent of 35% of your estimated take-home, or $607. Anything you can do to cut that down? Use this worksheet https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ to see for yourself how much youd have left over each month after your essential expenses. So, if you can get a place for $800 or less, you should be able to manage it. Car insurance est. Clothing, entertainment, vacations, etc. Student Loans Gas est. cable/internet (20% of rent) -$128 Cash left for all other expenses/Month $706 Good luck! With you current low expenses $700 should be fine. Cash left for Discretionary Spending, if has car $185 Utilities 20% of rent (electric, water, trash, internet) -$135 Public transportation monthly pass (est. Good luck! I work at University, just start a month ago. Other fixed bills pet -$200 Based on the chart in this post, your max. Good luck! Less: Estimated taxes 20% (see below 2.) I put $500.00 away for car payments weather I buy a car or not. Laundry/dry cleaning est. Car payments $0 Car Insurance $0 Groceries/food est. Est. My girlfriend does work as well who will be moving in together but her job has her on call right now so I kind of didnt include that. Im 23 looking to move into my first apartment. https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/. only thing I pay is a $65 phone bill . Other fixed bills The answer is yes, you can afford it. rent -$500 Total/yr (50 wks paid) $13,500 Your Budget $0 Print out a blank worksheet here https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ and input all your real numbers. -$150 Cell Phone -97 I have a 419 car payment a month and thats it. Cash left for all other expenses/Month $388 Still, $1,000 may work because you dont have high other fixed bills and have a very nice savings cushion. Hours 35 I pay the minimum of $27 off my credit card every month. Total Monthly Essential Expenses -$1,470, Cash left for Savings and Discretionary Spending 4.) Pay/hr $22.00 -$2,800 Hi Brandon, Cash left for all other expenses/Month $310 My sister and her boyfriend and my boyfriend and I have decided to save up and get a trailer (mobile home) together. Total/yr (50 wks paid) $30,000 -$300 Student Loans For reference I live in NYC. Student Loans Utilities, incl. Annual Salary $21*40*50 $42,000 We usually do not include the side jobs in rent calculations because those things can change but your rent does not. Laundry/dry cleaning est. I'm getting tired of people acting like $15/hour is some sort of luxurious wage. Good luck! Cash after fixed exp. Health Insurance (See below 3.) Credit Cards/ Gym Membership $0 Maximum Rent = 35% of take-home -$625 That will also show you how much housing expenses (rent + utilities) you can comfortably carry when you move. Away from work time, Rockford is a well-known locale for dendrophiles, a.k.a. $800 rent will result in a cash shortfall of $515 each month, even before spending anything on discretionary expenses. Max. Hi my name is Dexter and I work 40hrs a week Im making $18.82 dollars an hour and I sometimes work 10 to 16 hours overtime. However, you maybe able to find a place that you love for less in Chicago, giving you even more flexibility. According to the chart in the post, he should be able to afford up to about $500 in rent, but since we dont know any of his other expenses there is no way to know for sure. Good luck! Gas for me is normally about $25-$30 per week but should come down after I move as I am trying to get closer to work. After tax take-home $24,000 Rough estimate from the chart in the post, your boyfriend could afford up to $650 on his pay. Cash left for all other expenses/Month -$88 Cash left for all other expenses/Month $289 Im trying to move along with my roommate who makes way more than me, 20 something an hour. Cell Phone Public transportation monthly pass (est. That number is $717, that we used in the rough budget below. Student Loans Pay/hr $18.57 Less: Other deductions (health insurance, 401K, etc.) Total Monthly Essential Expenses -$1,623, Cash left for Savings and Discretionary Spending 4.) Now, if you can get a nice place for less, more power to you and your savings! Combined $73,000 The chart does not take into account utility expenses, but the rule of thumb is 20% of your rent amount or $100, whichevers higher (10% in high rent areas like NYC). Utilities, incl. Car insurance $0 Pay/hr $16.00 My monthly bills include my cell phone bill $113, insurance $30 (I split that with my family), gas for car $35, and my groceries and toiletries usually come up to $150. Leis Budget: Working 80 hours a week. Cell phone est. Gas -$50 Hi Lisa, with your hours and pay your max. Health Insurance $0 taxes/deductions 25% ($8,125) Now some months you will have extra but the $200 do you think thats enough? My Girlfriend makes 14 an hour with 40 hours. Total/yr (50 wks paid) $22,000 Cell Phone -$50 cable/internet (20% of rent) -$180 You probably take home a bit under $2,000 a month and your fixed expenses are in the $1,000 range, before rent, utilities or food. Cell Phone -$80 Car insurance est. -$40 Hi, my name is Ashlee Hi, Credit Cards Less: Other deductions (health insurance, 401K, etc.) Its probably pretty good estimate for you since you dont have too many fixed bills. taxes/deductions 25% ($8,875) Print out and use this worksheet https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ for a more accurate budget. Auto Insurance: $130/mo $410 The answer is no. or Commuting $0 My car payment is 225, insurance is 155, 75/month credit cards, 120 student loan. taxes/deductions 20% ($6,400) cable/internet (20% of rent) -$120 First Apartment Budgeting Worksheet $125) -$125 He going to look for between a 10 to 11 dollar paying job. Car loan or lease payment -$319 Now a days paying rent is not easy. -$4,900 You should be able to get a nice place in Mississippi, even in the Jackson area, for $600 a month. Rent -$880 Your Budget The short answer is NO, you cannot swing it. or Commuting est. But, as we always advice, please print out our budgeting worksheet and estimate more closely all your expenses and income. This calculator shows rentals that fit your budget. 4.) First Apartment Budgeting Worksheet Less: Estimated taxes 15% (see below 2.) I have a $50 phone bill every month, $150 loan interest payment with full loan payments starting in November. Hi Ana, Maximum Rent -$908 cable/internet (20% of rent) -$100 Credit Cards $0 Health Insurance (See below 3.) Rent Affordability Calculator Use our rent calculator to see how much you can afford to spend on rent. Child care You are probably looking at most for a roommate share $400-$500 range. Hi Charles, How much rent can I afford? If you pay your car note & insurance plus maybe a $700 rent that would leave you with about $1550 per month left over for personal use. 30-40 hours a week. To double check, including all your expenses, use this worksheet https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/. I make $20/hr and work anywhere from 20 to 60 hours a week. Hello, Im Mariah. Now, as we always say, if you can get a nice place for less than that $933 formula rent, the better for you and more money to savings. $0 Laundry/dry cleaning est. (Hint: Your gross income is how much you make before taxes.) Total/yr (50 wks paid) $19,500 I live in New York and make $12.62 going on $13 possibly this summer. Phone 60 Pay/hr $13.00 $1400 monthly pay if $12hr I have a fiancee that lives out of the country and as a requirement for him to come to the U.S. The men make $1500 each a month, and I make $800 roughly. You max. Cell Phone -$186 After tax take-home Carlos $15,000 Laundry/dry cleaning est. Can he support himself with that pay??? it will be tough. Hours-Husband 40 You did not mention how much savings you have but realistically youll need about $5,000 to cover all your move related expenses. Car Insurance $0 Utilities 20% of rent (electric, water, trash, internet) -$110 $125) rent is $1,375, so $1,100 should be well withing your means. $2,391 Maximum Rent = 35% of take-home -$1,700 Ive been considering an apartment that states rent would be about $625 per month with a one time deposit of $750. $1,144 a month 30% of your gross income If you make $22 an hour (40H/week). Public transportation monthly pass (est. Other fixed bills Utilities 20% of rent (electric, water, trash, internet) $0 Groceries/Food -$300 I dont want to get stuck. -$9,750 https://www.myfirstapartment.com/2017/04/first-apartment-budgeting-boot-camp-case-studies-brit-billy/, I make 9.14 dollars an hour and i work 35 hours every two weeks would i be able to keep the rent paid with a 9 year old son and no other help what should i do. Car Insurance -$150 Student Loans -$80 Car payments -$418 Would this be something I could afford this ? Good luck! Your Budget We suspect that you have destroyed your credit rating during all your job and school changes and are paying top dollar for car loan interest and car insurance. Total/yr (50 wks paid) $20,000 See below. I do get bonus every 3 months but I wont add that. Hi Heaven, It is a full time position at a hospital . Monthly take-home pay (above /12) $1,558, Monthly Essential Living Expenses Hours 40 -$300 It will be very tight, but because you do not have other big bills it may be doable. cable/internet (20%) -$130 -$160 Less: Estimated taxes 20% (see below 2.) i make $13/hr currently and have student loans/car payment totaling near $700/month. Hours 40 Less: Other deductions (health insurance, 401K, etc.) Car loan or lease payment -$256 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/. I also have a savings. Good luck! After tax take-home $25,600 I have 9k in the savings. I do not have a car payment, cell phone payment, or any debt.My work pays for all of my work and personal gas. Laundry/Dry Cleaning -$40 rent target right from the chart. Hi Sebastian, $745 left over from rent Less: Estimated taxes 25% (see below 2.) Utilities (20% of rent) -$100 Hi Lauren, Can you help me what I can afford on average . I get paid every week. Savings (target 10% of take-home), Hello, I have been trying for days to figure out what I can afford and have came up with a number, but would like to see what you think. Estimated annual take-home pay $23,040 My expenses are limited to grocery shopping (around $60 monthly) and my $15 cellphone bill. Dylans Budget: Thank you, looking forward to your reply! Public transportation monthly pass (est. Thats pretty tough man. Credit Cards This assumes that your child is young. Our formula on the rent chart (https://www.myfirstapartment.com/2016/07/how-much-rent-can-i-afford-on-my-hourly-pay/) says you should not spend more than $338, so with typical expenses youll be pulling couple of thousand a year from your savings for rent. Clothing, entertainment, vacations, etc. $0 Hi Brian, -$300 $802 Your Budget Laundry/dry cleaning est. taxes/deductions 20% ($5,400) i wanted to know if i could afford a apartment $807 a month i would have to pay electric and gas heat only. Car payment: $165 Less: Other deductions (health insurance, 401K, etc.) Your Budget -$40 If you start right now saving $600 a month, youll have $2,400 by the end of the year, enough to move out in the new year. Use this printable worksheet to double check the numbers. Total/yr (50 wks paid) $22,000 After tax take-home $27,375 Car insurance $0 You can probably afford a roommate share in the $400-450 range. rent. Cash left for Discretionary Spending, if has car -$53 Max. Savings (target 10% of take-home) $0 -$160 Hours 40 Cell phones -$160 Health Insurance $0 I make $20 an hour on 35 hr work week and i have a cell phone of $30-$40 a month, Verizon bill $150-$200 a month or $130-$150 every 2wks if Im able and no car right now. Zoes Budget: Groceries/Food -$250 -$4,833 Car insurance -$388 Credit Cards $0 Gas -$80 Health Insurance (See below 3.) We both do 35 40 hours a week and have a car payment for 275. With gas, loan and insurance payments you are spending over $600 a month on your car, so as you see below there is no way you could afford a place you should based on your income. gas: $36 $0 $125) $0 Hello I make $13 an hour 40 hrs a week cable/internet (10% of rent) -$235 Good luck! I have $600 in total extra loan payments a month / phone is $80 a month. Use this worksheet https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ to estimate your budget. I work 50 hours/ week. I work nightshift and get a dollar more due to differential pay and a dollar more on weekends. Est. I dont pay for my car and my work pays for gas. I work on average 10hrs of over time on top of the 80hrs worked bi weekly. Laundry/dry cleaning est. Annual Salary (see below 1.) Public transportation monthly pass (est. Is this affordable, Hi, I currently make $12/hr and bring home 300-550 a check or 1,200-2,200 a month. Your Budget $28,000 Less: Estimated taxes 15% (see below 2.) $35,100 cable/internet (20% of rent) -$100 Car loan or lease payment $80*4 -$320 I plan to have a roommate and wanted to know how much I can afford to pay for rent. And once a month I usually get a 175 dollar bonus it could change alittle but with the bonus. -$40 For $13/30 hours, the max. I have monthly bonus incentives but choose not to include as its not guaranteed. Utilities 20% of rent (electric, water, trash, internet) -$130 Car Insurance $0 Groceries/food est. With your high fixed expenses, you will have hard time affording even a $250 a month roommate share, if one of those would be available. https://www.myfirstapartment.com/2017/08/budgeting-bootcamp-budgeting-worksheet-single/ Good luck! I make 14 an hour. Gas -$50 Thank you :), Also as a side note, I would absolutely need internet which is about $40 a month. When you are on a straight salary estimating the number is easy. Gas- $200.00 Start your budgeting by using the formula max. First Apartment Budgeting Worksheet I get paid weekly and I plan on moving with 2 other roommates soon. Heres what your numbers looks like at $500 rent. Good luck! $125) See below. Est. Your Budget Gas -$50 Savings (target 10% of take-home) $0 Gas est. Double check your numbers, to make sure you did not forget anything. Monthly take-home pay (above /12) $1,906, Monthly Essential Living Expenses Groceries/food est. Student loan 129, Hi Parie, Good luck! You can also use our Affordable Rent Calculator if you want to estimate your target rent from your salary or your after-tax income, even if your income varies week by week. Cell Phone Total/yr (50 wks paid) $9,000 If you make more than that, put the extra into savings, so youll build an emergency fund for those months when the salon is a little slow. As always, double-check the numbers. Gas -$50 Health Insurance (See below 3.) Less: Estimated taxes 20% (see below 2.) And I work 40-52 hours a week, but never under 40. If you want to do it faster you need to live very frugally, or, if you have the space, take in a short-term roommate. Good luck! Currently at 17.69/hour. Hi Nautika, Can I afford anything at this time?
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can i afford an apartment on $15 an hour
