can you afford rent on a part time job
Why don’t you stay where you are and pay off your credit card debt before you move. Per month take-home est. The answer is no. Credit Cards $0 Total Monthly Essential Expenses -$1,618, Cash left for Savings and Discretionary Spending 4.)

Thanks. Clothing, entertainment, vacations, etc.

rent -$500

(Yes, we know there are 52 weeks in a year, but many hourly earners do not get paid sick or vacation days, so we use 50 paid weeks.) Annual Salary (see below 1.) Using your numbers, it looks like you could afford the take-home pay formula maximum of 35%. You are lucky that you do not have to pay rent now, because after paying your expenses, you really don’t have enough left over for rent. Utilities (20% of rent) -$112 you need to hustle and cut back. What is really alarming is that the vast majority of low-income Americans are having hard times qualifying for rent. Same advice to you as to Sabrina, so here goes. How Much Rent Can I Afford on My Hourly Pay? Credit Cards Hours 40 If you pay off your debt and continue saving, you are probably in a good shape to move in 3-6 months. Hi Ashlee, Student Loans Rent for a room at a Lodge-$380 for 2 weeks in all around $760 a month Groceries/Food -$300 Car loan or lease payment -$105 If you bring home after taxes about $1,200 a month and have two children to cloth and feed there is no way you could afford $700 in rent. Other fixed bills fne?? Credit card $80 or less

taxes/deductions 48% ($45,118) Maximum Rent = 35% of take-home -$500 Laundry/dry cleaning est. Hours 30 Student Loans -$100 You should be able to find a decent studio for $2,350. It would be just us two. Less: Other deductions (health insurance, 401K, etc.) Good luck! Your Budget Child care My husband and I make 46000 a year and pay 560 dollars a month in rent Utilities included What percent of are income are we paying. Est.

You may even end up with two months rent payment if you sell big ticket items. Print out and use this worksheet for a more accurate budget. Per month take-home est. Student Loans $0 It probably averages out to 50 hrs/wk over the course of the year, as I also use my paid time off/vacation hours to fill out hours on short weeks. Est. Caleb’s Budget: The formula in the post says that your max rent is $475. Hello! Groceries/food est.

Car loan or lease payment

Hello! It comes halfway through the month plus I get an advance for the last half of the month.

Savings (target 10% of take-home) $0 -$300 And don’t let the salesman oversell you a car that is too expensive. Will I be able to live an ok lifestyle? Credit Cards $0 4.) $0 Groceries/food est. That's slightly more than three times the federal minimum wage of $7.25. Savings (target 10% of take-home) $219 Rent -$933 Max. Groceries/Food -$450 Total/yr (50 wks paid) $64,000 Health Insurance (See below 3.) Gas est. Total/yr (50 wks paid) $30,000 And my 401k would be 3% of that paycheck.

Hi Sean, Groceries/food est. Hi Scarlett, taxes/deductions 25% ($7,500) It looks like our basic formula rent at 35% of take-home, or $736 is a little too high for you. I work 50 hours/ week. Student Loans $0 If that rent range is not doable in your market, you could go a little higher, but that will increase the stress in your life, knowing that you must work both jobs, no matter what. Health Insurance (See below 3.) Pay/hr $10.75 Good luck! After tax take-home $27,750 Look for a roommate share in the $250-$300 range and you could make it living frugally but still not have room for savings. Can you create a budget for me? -$100 After tax take-home $15,938 However, as experience confirms times and times again, those who choose the second one are more likely to finish the race as champions.

If you work 40hrs per week, that’s about $2,896/month before taxes. -$125 Car loan or lease payment -$205 After tax take-home $27,855 Utilities, incl. Estimated annual take-home pay $19,410 Jan’s Budget:

Gas- $200.00

Because of the extra safety valve you have from your tip income and your high savings, you should be able to manage up to the max. Good luck! Start estimating utilities at 20% of your rent, if you only pay electric and internet, more if you also have to pay for water and trash removal. You did not tell what other fixed monthly bills you may have, so it’s hard to estimate. Child care cable/internet (10% of rent) -$160 Use this budgeting worksheet to estimate all the expenses, so you know for sure. that would be a very boring life. Double check the numbers. Estimated annual take-home pay $35,490 First Apartment Budgeting Worksheet I’m starting a new job on November 11th, it’s going to be 10$ an hour, 40 hours a week. Car Insurance cable/internet (20% of rent) -$100 Hours 40 I also eat at home a lot because I enjoy home meals. I have $600 in total extra loan payments a month / phone is $80 a month.

Hello I makes 18$ an hour full time working 40 hours a week , my bills are Monthly take-home pay (above /12) $1,867, Monthly Essential Living Expenses Estimated annual take-home pay $18,700 Good luck! cable about 160. Health Insurance $0 Savings (target 10% of take-home) $198 And what expenses would add up? $1,167

rent -$650 I’m looking to relocate to the Philadelphia area. Karen’s Budget: Cat -$70 Pay/hr $12.00 Hours 42 Student Loans 850 being your max :). I don’t want to get stuck., First Apartment Budgeting Worksheet Hours 40 Other fixed bills Groceries/food est. Health Insurance (See below 3.) $125) Hi Candace, $31,720 Per month take-home est. The answer is no. $10,000

Groceries/food est.

$0 Gas est. Use your overtime moneys to build an emergency savings fund. Pay/hr $18.50 Credit Cards $0 Car insurance $0 Estimated annual take-home pay $34,785

Student Loans Per month take-home est. Utilities, incl. I can’t estimate my gas, but my company reimburses 0.58 cents per mile of my gas, so it adds up. Cash left for all other expenses/Month -$143 rent -$400 Hi I make 9.65 at 20-25 hours a week at one job and 10.20 at 17.5-20 hours per week at another. The apartment I am looking into the rent is 1300. Phone: $50 What’s the highest in rent you’ll recommend that will allow me to have money left over for extracurricular activities.

Max. Child care Utilities 20% of rent (electric, water, trash, internet) -$179 -$8,000 Im having trouble finding any kind of average utilities… Any help be appreciated!

Less: Estimated taxes 15% (see below 2.) Would I be able to afford this? Estimated annual take-home pay $22,400 My annual income after taxes is 54K. Child care

After tax take-home – Husband $22,950 I live in Texas and recently got a job paying $18/hr and will be working a minimum of 40 hr/wk. Uber rides to and from work- average $150

Utilities 20% of rent (electric, water, trash, internet) -$125 -$150 Utilities, incl. cable/internet (10% of rent) -$150 Other fixed bills -$300 -$50 One of the best things you can do when you’re learning how to rent an apartment with little income, is to sell those things. Car insurance -$150 Savings TRAVEL EXTRA PAY 155 Hello i make $13 per hour 35 hrs a week. Hello, I make 9.00 an hour, So I get a little over 40 hours a week guaranteed plus tips which is only like $15 a day ( I’m 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. I’m currently looking at an apartment that is under $600 a month. Car note with insurance is 359 and I am looking for a Apartment in East orange NJ. Good luck! Job 2 I make 12.35 at 40 hrs per week. -$40 After tax take-home – $13,706 Savings (target 10% of take-home) -$203 when you live on your own.

Any suggestions? Cell Phone -$80


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