BG Apartments: Moving out soon: Some advice plz.

[Odesseiron]

Okay folks. This isn't meant to be a blog kinda post, but I'll probably get into a couple things. Mostly I'm just asking how to properly budget as I'm saving money to move out soonish.

First off, a couple things. And yes, I still live at home. So let's get all of that out of the way first. If you're going to just ask "Why the fuck are you still living home at 29??" Please save it. I've heard it all before, and it's just not helpful. I'm doing what I can NOW to fix what I fucked up in the past. I was never adverse to doing it. Just didn't have the money.

The reason why I hadn't moved out way before this was because I had a massive (not getting into exact figures) amount of debt that I was paying off for years. I was putting almost every penny I earned towards debt. I would rather be completely paid off owing no money, than paying minimums for the rest of my life scraping by, and saying I could own an apartment. I think what I am doing is the more responsible (and sensible) thing to do.

Since then, I have done a 180. Now I save money, and rarely buy anything anymore. I realize now there is almost nothing I really NEED to buy. I'll buy a game once in a while, but that's really it. Aside from that, there's normal expenditures. Food, gas, and rent (I do pay a decent amount to the 'rents) As of right now though, I can put about $1400-1600 in the bank. At that rate, plus what I have saved currently, I can get together $10,000-15,000 pretty fast. I think that is a decent enough chunk of change in order to move out.

The places I'm looking at are a pretty decent area, and the prices are $850 for a studio, and $1050 for a 1BR. Income wise, after taxes, I'm pulling in about $2100 a month. I'm thinking the 1BR might be a bit too much after factoring in the cost of food, gas, electric, cell phone, internet/cable, parking, etc. The $850 seems a lot more reasonable. Would give me the extra $200 to pay monthly bills.

What could I roughly look at for each? Like how much extra should I set aside for stuff other than rent? The reason I want to have a decent amount in the bank is just in case I go over my budget for the month. To be honest, I'd much rather the 1 Bedroom as it's quite a bit more roomy, but the studio is more manageable price wise. I can find something cheaper most likely, but the area would be pretty questionable. Where I'm looking at now is pretty nice for the price.

Just as a quick note: I Have no car payments, insurance is paid through October, one credit card bill with 0% APR for a year with a $600 balance. I've not got a ton of bills. Right now all I can say for monthly fees are cell phone & parking.

[Eratosthenes]

Have you considered getting a 2 bedroom place and a roommate? It should be cheaper to split rent and utilities with somebody than to live alone.

[izembo]

i think the figure they say to realistically look at is about 33% of your income goes to rent/mortgage. above that you start having to cut back on other things. so use that as a baseline for what you can realistally afford and still live comfortably

[Odesseiron]

Have you considered getting a 2 bedroom place and a roommate? It should be cheaper to split rent and utilities with somebody than to live alone.

I never wrote it out of the equation, but to be honest I'd rather move in with somebody I know rather than with a stranger. It makes more sense financially, but I'm just weird like that. All my friends are either living at home or with their significant other already.

[Headspace]

Don't most lease agreements require that you make 3x the rent or you have to pay months in advance/bigger deposit/have a cosigner? Even if you do all that, there's a reason they say 3x the rent.

[Kurokikaze]

Where are these apt you speak of? You live in NY ya...? >.>

^ some not most. He will have to do a credit check for most places though.

[Odesseiron]

Where are these apt you speak of? You live in NY ya...? >.>

^ some not most. He will have to do a credit check for most places though.

Over on Riverdale Ave. in the Bronx. My friend has a place in the building I'm looking at. He's got a 1 BR for $1050. They have studios open for $850. I'm not worried about my credit as it is in the 750's at the very least. Pretty nice area and building.

Like I said, I make about $2100 a month gross right now. As it stands right now, I could pay up to 6+ months rent for a 1BR with what I have in the bank. The reason I'm holding off is I want to have a lot more saved, just in case an emergency comes up.

[Kurokikaze]

Waaaaaat. Thats not bad at all. Might have to keep that in mind for the future since I'm looking into moving out later this year. It's about that time. ;x

I'd say most important thing is making sure that your job situation is stable...

[tyven]

go studio. if half of your income is going to rent alone its really gonna hurt. cable, internet, utilities, cell phone really adds up, especially when you are the only one paying for it. you are gonna find its next to impossible to put away any money

[tyven]

also moving out with 10-15k in the bank is epic. i moved out with like a grand and a dream

[Xerlic]

Do you make $2100/mo gross or net? In the OP you said it's after taxes, but in the above post you say gross. Either way, spending half of your income in rent is pretty tight.. Most advice I've heard is to try to keep your rent costs to 1/3 of your income.

Since you're asking about food, I'm assuming your parents did most of the grocery shopping. The cost of food is subjective. If you're eating steaks every night, you're gonna be spending more than if you eat instant ramen every night. Best tip is to shop smart and buy stuff on sale. For example, chicken is usually like 4$/pound at most supermarkets in NY. When it goes on sale for like $2/pound, buy it in bulk and keep it in your freezer. Browse those fliers and clip coupons for stuff you know you use.

For gas/electric, do you use ConEd in NYC? I'm in Westchester, and that's what we have up here. We spend roughly 80-100/month during non-summer months with 2 computers and TV . That doubles once we start running the AC in the summer.

Cell+Cable all depends on your plan. Look at the different providers and choose one that meets your price range.

Do you have to pay to park? Is there street parking available for free?

Riverdale is a pretty nice area. I was actually looking at it when my last lease was up, but decided to stay in Westchester.

[Odesseiron]

Do you make $2100/mo gross or net? In the OP you said it's after taxes, but in the above post you say gross. Either way, spending half of your income in rent is pretty tight.. Most advice I've heard is to try to keep your rent costs to 1/3 of your income.

Since you're asking about food, I'm assuming your parents did most of the grocery shopping. The cost of food is subjective. If you're eating steaks every night, you're gonna be spending more than if you eat instant ramen every night. Best tip is to shop smart and buy stuff on sale. For example, chicken is usually like 4$/pound at most supermarkets in NY. When it goes on sale, buy it in bulk and keep it in your freezer. Browse those fliers and clip coupons for stuff you know you use.

For gas/electric, do you use ConEd in NYC? I'm in Westchester, and that's what we have up here. We spend roughly 80-100/month during non-summer months with 2 computers and TV . That doubles once we start running the AC in the summer.

Cell+Cable all depends on your plan. Look at the different providers and choose one that meets your price range.

Do you have to pay to park? Is there street parking available for free?

Riverdale is a pretty nice area. I was actually looking at it when my last lease was up, but decided to stay in Westchester.

I meant after $2100 net. I don't know why I put gross. Probably too engrossed with the Yankees game.

Actually, doing a little searching on google, it seems near 30% of New Yorkers spend 50 % or over on their rent. I'm sure I could do it, but I don't know how much I could do. I'd probably be confined to home and work lol.


I'm in Westchester now. Yeah it would most likely be Con Ed. There is street parking, and it's almost always available there. Work I have to pay to park. $50. As it stands for food, yeah, my mom does all the shopping. So I'd have to do an extremely large shopping for the first time. After that, ramen! All day every day!

[tyven]

you should really find a roommate. then you can get the fastest internet possible and run the AC whenever you want

i live with 3 other shmucks but we got fastest internet ever, every god damn channel, hd boxes and big ass TVs errywhere.

plus a stripper pole in the basement and like a 10 foot white board to draw giant cocks on

[AoE]

My dad lives in Riverdale. One of the few places in The Bronx I'd gladly live if I had the cash. Don't have any real decent advice other than good luck, if I were to move back to the Bronx, I'd pick that area hands down. The Sand and Sea restaurant is pretty tight if you've never tried it.

[Amelya]

I'd go for the studio personally. I make close to the same amount as you and I can definitely say it does get tight sometimes. Granted I'm not living off of ramen noodles or anything, but I'm not blowing money on unnecessary things very often either. I also live in oh so lovely Wisconsin which is fairly low for cost of living I think compared to NY.

Very basic generalization of my costs:

Mortgage $840
Electric/Gas $220
Water $30
Cable/internet $130
Groceries $300 (two people)
Dog food $50
Gas $60
Cell phone - nothing (yay family plan with my mom)

Even if you have everything planned out monthly, eventually you're going to have to buy yourself new clothes, sheets, cleaning supplies, crap like that. 50 bucks here, 80 bucks there, it can add up. And I assume you're going to want to go out and have fun once in a while. Living paycheck to paycheck sucks, so if you're able to save a little bit every month I think you'd be better off overall.

[Jefe]

Fuck roommates, if you're moving out just to end up in a place w/ a bunch of roommates, I'd rather stay at home. You sound like you have a stable jerb. so yeah why not? Just keep an eye for pesky neighbours that can potentially ruin your experience. Do your homework, set your budget, and you should be A OK.

[tyven]

you would rather live with your parents than your peers?

you cant bring a whole grip of drunk chicks back to your parents house, can you? if you can you should stay there forever

[Odesseiron]

you would rather live with your parents than your peers?

you cant bring a whole grip of drunk chicks back to your parents house, can you? if you can you should stay there forever

Well I mean I could theoretically. But with my one room and Twin XL mattress, it wouldn't do much good. I have to say, my parents are really cool for parents. But WOULD I is the question. No is the answer. That shit will get you turned down almost every time. So yeah, that's another reason I'm getting my own place.

I'd go for the studio personally. I make close to the same amount as you and I can definitely say it does get tight sometimes. Granted I'm not living off of ramen noodles or anything, but I'm not blowing money on unnecessary things very often either. I also live in oh so lovely Wisconsin which is fairly low for cost of living I think compared to NY.

Very basic generalization of my costs:

Mortgage $840
Electric/Gas $220
Water $30
Cable/internet $130
Groceries $300 (two people)
Dog food $50
Gas $60
Cell phone - nothing (yay family plan with my mom)

Even if you have everything planned out monthly, eventually you're going to have to buy yourself new clothes, sheets, cleaning supplies, crap like that. 50 bucks here, 80 bucks there, it can add up. And I assume you're going to want to go out and have fun once in a while. Living paycheck to paycheck sucks, so if you're able to save a little bit every month I think you'd be better off overall.

This seems about what I would pay, but less for the groceries. Seems somewhat manageable then if I go with the studio. I'll definitely be doing the math out over the next few months as I save money. I don't expect to be able to buy whatever I want like I do now, so if I want any big purchases, I will do them sometime soon, or just save extra so I can go ahead and get it with the new place.

I also want a cat or two. My parents are allergic, and we can't have dogs in our building, so a cat is definitely in the game plan. Pets are expensive, but I'm willing I think if it means giving up something else.

[Alvein]

Man those rent prices are crazy, I have my own one bedroom near Portland, OR for $585 a month, and that includes all appliances including personal washer and dryer, and utilities except electricity. Must be that you live in New York.
Likely because you have no rental history they're going to want a hefty security deposit as well, so take that into consideration.

[antihero]

Man those rent prices are crazy

no kidding, I live close to KSU (semi-close to atlanta) with my fiance in a nice area and our rent is $618 after 10% employer/student discount, $850 for a studio in the bronx?