What life expenses do you pay out of college?

Question

I am trying to calculate how much money I will need to make to live on my own after college. I am 20 and still have 2 more years to go. I have saved about 4000 through my teen years of my own money and I work during the semesters for personal money.

So far my car and health insurance are under my parents. Also college is being paid through savings. I'm trying to come up with how much I will need to make a month to live and budget that ahead of time on my own. Here is my list of expenses, what else is there? can you add to the list?

Car insurance

Car maintainence

Gas

Rent (apartment)

Health insurance

Bills

Tax

Personal spending

Any other insurance?

Anything else?

Answer 1

Usually besides paying your rent you are responsible for gas, electricity, phone, cell phone, water/sewage.  Health insurance doesn't cover everything including your appointments, depending on your insurance you will probably have a co-pay for doctor visits as well as a co-pay for any medication you need, same with the dentist or eye doctor. You will need money to buy furniture for your apartment (couch, bed, bed frame, linens, tv, dvd, lamps, hangers, vacuum cleaner, dishes, cookwear, utensils, garbage cans, cleaning supplies, washer & dryer, laundry detergent, food) You get my point.... it adds up quickly!

Answer 2

You missed a big one....FOOD!!!! lol.  I think you will be okay if you are already thinking ahead.  I'm an 18 year old college student, I'm married, and have a daughter.  My income comes from the websites I've designed, so I don't have to really work, and neither does my wife.  I mean I don't make a lot, but we're making it, and I beleive you can too man.  Just don't be another one of those bums who lives at home with their parents until their 25.  People like that disgust me.

Roy

WebMaster at http://MilMaker.com

Answer 3

Groceries

Clothing

Life Insurance & Renters Insurance

Furniture

Entertainment

Answer 4

Car insurance. - 300-1000 depending on state and company

Car maintained - look at 500  for a biggie, 30 dollars for oil changes.

Gas - 200 a week at these prices and depending on how much you drive.

Rent (apartment) - with a roommate, look at 500 for your share, without one, look for astudio or one bedroom at 500-900 depending on which section of town you live in and amenities.

Health insurance - try to get through your job.  other wise it is about 500-1000 a year.

Bills:  eletctic could run from 50-150, a month gas isn't expensive, like 15 a month, cell phone or regular phone, 70 dollars average,  and trash and water, but if your apartment has that already you won't have to worry about it.

Tax - taxes will be taken out of your paycheck, then file and get a refund.

Personal spending:  movies, dvd's, games, going out with friends, could be 200 - 500 a month, so watch it.

Any other insurance?

Anything else?  I made 2400 a month (net) and made rent, paid electric, paid for my car, insurance, gas and cell phone bill, still was able to go grocery shopping and get what I wanted, and went to a movie or to the bookstore and was okay.  you can do it!!

really compare insurance and apartment rents.