I'm a recent college graduate, and have been working a full-time job ($13/hour) since late May. Right now I'm living with my parents for free, and they seem happy to have me here. However, though we have a decent relationship, they're starting to drive me up the wall, and I feel emotionally ready to move out and truly start my adult life. Just not sure my finances are ready, and I don't want to make a stupid decision.
Rent in my area looks to be about $700-800/month, plus utilities (estimates on this seem to vary widely?). I'm incredibly lucky to have no student debt, and I have about $10,000 in savings, plus a mutual fund. I know from past experience that I spend roughly $40/week on groceries. I'm paying car insurance, but for various reasons, I'll be staying on my parents' health insurance for awhile yet, so I don't have to worry about that expense. I'm currently putting money into a 401(k) through work. After taxes, take-home pay has been hovering around $1,900/month.
I would love to move out, but I also don't want to make a stupid decision by leaving a rent-free living situation. Should I wait until I find a job that pays a little more?
TL;DR: I'm 22, making $13/hour, with savings and no debt. Am I financially capable of getting my own apartment?
Submitted October 18, 2018 at 10:33AM by alyria999 https://ift.tt/2yN7EW5
