I have wanted to move out my whole life and am finally biting up the nerve to do so. I have no knowledge about this stuff so any advice would be really helpful. I am 25/m Chicago.
Right now I make 1200/mo at my current job working PT 19 hrs, TWTh and Sa morning I can pick up a second job on my days off and my half shift day. I plan to make at least 12-13/hr at this second job, bringing my monthly to 1600. After tax. No insurance with this option.
OR, I will quit my current job, and pursue a job in the same field making 15/hr FT. This will earn me roughly 1800/mo, after tax, before insurance but I have the option of getting insurance.
My phone and car are paid for, and I am on my dad's insurance for another year. So my planned spending so far are as follows, monthly:
Utilities - 80
Internet - 60
Gas - 80
Groceries - 150
Dog stuff - 50
Misc - 50
Hopefully, I rounded up. If not, please let me know. This adds to 470, leaving me with either 1130 or 1330.
I am probably going to spend about 900 on rent.
This leaves me with 230 or 430 a month to save/ spend on entertainment. So 50/100 dollars a week to go out on the weekend, or buy something for myself.
I also plan to save 5k before I move, leaving 2k to furnishing and 3k for emergencies/bumps in the road.
What do you guys think? These are just my initial thoughts. I have been held back from moving by my parents for a while and due to my upbringing I have no sense of this stuff so any help is greatly appreciated. I work as a bank teller and for my hobbies I make music, play games, and do outdoors stuff. I do not mind living frugally, right now I just want to experience life. But I understand that viewpoint may skew my financial planning. Thoughts?
Submitted April 14, 2018 at 11:38PM by durian_smoothie https://ift.tt/2qAAvsn
