Cost of living on your own?

Answer 1

How much it costs to live on your own depends on the area of country, the size of city, where in the city, and the type of area it is.

Housing costs or rent varies also from country to country, state to state, city (especially based on size), and whether rural or city.

In the USA, a monthly rent can be anywhere from $350.00 per month to upwards of $4,000.00 a month.

Utilities vary based on the size of house and size of rooms, along with type of heat and whether you live in a colder area or warmer location. As well, electricity costs vary in the summer depending on if you use fans or air conditioner. Whether a stove is gas lit or electric will affect the corresponding utility.

Next after housing and utilities comes food in terms of human needs. Again, food costs depend on the location, availability of foods, and price ranges in the area. Using coupons and low priced markets can reduce food costs by $100.00 or more a month.

Phone is important. You can get a land line or cell. Plans can be as cheap as $30.00 a month, or run hundreds of dollars a month.

Transportation is next. Cities often run buses and offer bus passes. If you own an auto, you must figure in gasoline, maintenance and repair, and wear and tear costs. One tire can cost several hundred dollars in certain areas.

Almost everyone enjoys cable TV. That can run anywhere from $100.00 a month to $200.00 a month depending on the residence/location.

There are also additional costs when you first move, including having "first and last month's rent" and security deposit upfront, upfront fees to turn on utilities and phone, moving van and helpers, and new curtains or furniture.

About the only "free" part of moving is doing a change of address card at the post office!

So, sit down and put at the top of the paper how much monthly income you'll have. Do rough estimates for each item listed above. Add up the costs and subtract it from your income... the remainder is how much pocket money you'll have left. If the expenses exceed your income, re-think your estimates. Maybe you'll need to look at smaller apartments or in less-than-desirable locations. Maybe you could be a roommate in someone's house. Or, maybe you could work as a 'housesitter' to have a roof over your head plus make a little money. Look at the "I wants" like cable. Maybe you'll have to forget premium channels and just do basic cable instead. Look carefully at phone plans so you don't exceed limits. Maybe you'll have to do without internet Access too for a while.

The best plan is, after making your estimated budget, start saving for a move. You may need a year or more to save just for moving costs and to have a little extra left over.