Question:

Living costs?

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ok so my friend ash is moving out soon. she is 17, so she isnt that young or nun. and she wanted me 2 ask what are the kind of things you would need to be paying for living on your own? she gets about 1000 bucks a month, same with her bf. so they get 2000 a month.

so yea, what are sum of the things? and how much are they?

u know like utilities, rent, taxes, stuff lyk dat.

and in lyk 3-5 years they wanna hav a kid. they will be making probly as much as they r now. about how much wood a baby add to their bills do u think? and wood they be able to afford it?

thanxx for ur help =]

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  1. Ok here is a simple breakdown of how to go about being independant. This example should give her and her b/f a simple worksheet of how to finace.

    Things you must pay for:

    Rent(i.e mine is 875 monthly)

    Utilities(i.e. about 130 power then another 150 for TWC bundle for phone, wi, and cable t.v. TIP I just cancled the voice mail(4 extra a month) since I have speaker phone with answering service)

    Car bills? Insurance for health or car? Car insurance will have to be paid or risk losing you privlagies, buy a used car paid in full to aviod monthly expenses! Health coverage with a f/t job comes out already, so you may only be looking at the car insurance, basic could be anywhere from 40-100/month.

    Food!! Yep that too. About 130 every 2 wks for me(add in the 2 kids)

    Kids will need insurance for her future plans= deduct more from the paycheck if the child can be included.

    Credit card bills if any are open? 50 is the min. monthly papyment usually, but you should only borrow 20% or lower monthly!!That will help out with the credit score and trust me it matters when it comes time to grow up more and buy a house for themselves or because they now have kids and need a bigger place to live. Also, establish a rental history. That is also significant when it comes time to move up

    Start off small, get used to life, (oh and add in gas prices for work commut), once financially able, then move up and have kids; providing they would be in a safe environment!

    Once all is secured and money is LEFT OVER then add things. Like maybe a newer and safer car for the baby. Or splurge once in a while on clothes and dates. It sounds rough. but those smaller yet money costing items come in last place in the real world. You always want to have some money left over once the monthly bills are paid. If you are walking away with nothing then view your job or finances. Something will have to change. Be wise about money and budgeting, it will really help out 10 years down the road.

    One last tip. Try not to open any credit cards, maybe one to establish credit, but pay it off every month and only use the BORROWED money in the amount that you can pay off every month. Rememeber, a credit card is a loan of a set amount of cash, it does not buy you anything until you pay for it.

    I hope this helps you and your friend out. Wish I had someone to lay it out for me years ago. Best of luck!


  2. the most important thing is to live below their means, that said.  they should not pay more that a 1/3 of their take home pay in rent, second the will pay utilities, cable, phone, transportation, food, clothing and of course at first they will have to pay to furnish the apartment.  my suggestion is to try to study something so in 3-5 years they can get a better job in order to have a child.

  3. They have to add up everything that they need. Starting from Rental, Elect, Telephone, Cell phone, Food, Clothing, and etc.

    So basically they have to pay for everything they do or need.

    add up all the expenses and divid the cost between them.
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