Do i make enough money to live on my own?

Question

this will be my first move away from home. I am 19 and work full time and bring in averagely 2,100/ month $16/hour plus expense cheque. i was interested in moving into a 1 bedroom basement suite. They are asking for $600 (canadian) per month with utilities already included. I am not sure if i make enough to move out because i have never done it! i also have other payments per month like insurance-206, car-120, gas-200, phone-60, and food costs etc..

ps. i know this shouldnt be in "home and garden" but i am looking for more answers :D thank you!

Answer 1

Make a budget. Your monthly plan:

Income: 2,100

-Rent: 1500

-Insurance: 1294

-Car: 1174

-Gas: 974

-Phone: 914

Food can easily run up to 500 a month, then you have random costs like car repairs, entertainment, overages (most places charge an overage fee if you go over the electric cap), not to mention the initial fees of moving in. Do you have furniture? Can you cover the move-in fees? Do you have savings? If you have some savings away that can help you out the first month with all the big stuff, I say go for it. I go to college and I survive off of about $10,000 a year. That's in the US. It's gets a bit tight, but I survive because I have to. My Mom lives out of state. Good luck. Make sure you have a back up plan incase moving out doesn't work.

Answer 2

with the payments you have listed so far that total is 1,186.00 that leaves you 914.00 to buy groceries and a few necessities if you budget your money right you can make it on your own. do you have any furniture at all ? after you add what you are going to use for groceries see what is left this is what you would have monthly extra. do you already have the deposit as well as the first months rent? if not then you need to get that together first so when you move in you wont be in a bid from the start after that then you can see what you will have left. also when buying groceries try to buy in bulk that helps alot. even if you have to buy one thing one month and something else the next.the superstore is a great place to get things in bulk by bulk i mean buy by the case (beans,corn,peas) and if your the only one going to live there buying the pack of ground beef they have you could divide it into 4ths and have 4 meals out of one pack. same with pork chops or any other kind of meat. and if you buy in bulk you wont have to spend so much every month on groceries.  

Answer 3

By allowing you only $100.00 a month for food that only left you about $200.00 a week for everything else. That would have to cover clothes, entertainment, if your car breaks down, If you need bed linens and lots of other little things that can crop up. You could probably do it, but man, you're going to be cutting it VERY close.

Answer 4

Only you can know if you make enough.  Make a list of all your expenses.  First list essentials, then things you could do without.  If the essentials cost more than you make, forget it.  If extras make it more than you make, would you be happy without those extras?  Is it worth trying?

Make a list of what you spent last month without the extras that you will need living away from home.  Would you have had enough when you added in rent etc.  Would you have been happy cutting back.

The rent sounds very reasonable.  

People can manage on what you say, but all people have different needs and wants.

Answer 5

i dont make as much money as you and i can do it, so im sure you can too. a good idea would be to get a roomate for your 1st time moving out just so you can be sure you can afford it.