Do I make enough or should I wait?

Question

I always rented a room, now am ready to rent on my own. I have saved up for first rent and deposit. I make enough to pay rent, but am scared that I won't make it. Should I jump for it or should I wait to save enough for another months rents, just in case?? Please help????

Answer 1

i'll never tell you not to save but if you're financially ready then go for it you have to stand on your own sometime in your life. and if you keep putting it off you'll never do it. so i say go for it and always save for any kind of emergency

answer mine

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Answer 2

before renting on your own, plan first your cash flow.

identify what are your sources of income:

1. salary

2. interests from investments or bank deposits

second; identify your expenses:

1. estimate of utilities (electricity and water)

2. usual meals

3. shopping and leisure.

4. rent

the net is your end cash flow; it can be forwarded to the next month or be included in your savings.

if you have a positive net cash flow; and you think it's enought to cover unexpected events (hospitalization, holiday trips, etc)  then go ahead for it. just be sure you are able to save for your dream house.

good luck kid. ;)

Answer 3

well you always want to stay ahead a month. You will also come across lots of "turn on fees". I wouldnt jump the gun. i would wait and save up at least another months rent.

Answer 4

jump in it, you're always going to feel like its just not enough.

You'll be fine, as long as the place is within your budget, and don't over spend on other things.

You'll be fine. Millions of people live in their own and pay rent :)

Good luck!

Answer 5

another months rent, that is what bankrupts you ( just having 1 months rent) there are other cost besides just the rent, it is best to have more than you need

Answer 6

You'll need to pay rent, buy food, pay utilities, travel expenses and probably more depending on your current life style. Sit for a few mins and add up all your expenses and savings after it and make sure that you are able to afford it.

Answer 7

You should have your deposit and three months rent extra saved up because if you got fired or if some family emergency happened you wouldn't have to even think about rent. :P

Good luck! :)

Answer 8

wait

Answer 9

wait save for othe expenses that come with renting on your own.

Answer 10

Congrats on working to get what you want. I would try to get at least one more month's rent saved for security sake. Budget your money well and good luck.

Answer 11

id wait to save for a few more months worth of rent, make sure you include everything else u need such as food and gas and what not

and always make sure you read the fine print on anything you sign, dont wanna get stuck in a mess.

Answer 12

i think you should go for it! but wat you should do is once you get it make a plan like take a little bit out of each pay so you wont be broke for a week or how ever your job pay works.