Can I move out on my own with 1600-1800 a month income?

[powerballin]

Alot of "proud peacocks" in this thread trying to put others down for not wanting to set themselves up for failure.  If you can't afford it, you can't afford it.  Just make sure you are making an effort to change your situation and thats all you can really do.

 

[ksteezy]

I don't understand why it's such a bad thing to stay at home with your parents in your 20's, as long as everyone's getting along... You're only hurting yourself by rushing to get out on your own when you more than likely aren't financially able to do so.. I realize that everyone's family situation might not be the same, but I get along with my parents great... When I graduated from college my dad told me "I couldn't afford to pay for college or buy you a car as a graduation present (they did give me and old Jeep that I rode until the wheels fail off 6 years later), but what I can do is let you stay at home as long as you need to put yourself in a better position". I took his advice/offer and moved back home from the age of 21 to little over 25 and it was the best decision... I saved a very large sum of money that put me in position to buy/furnish a condo, pay for my wedding, buy/rehab a four unit building, and my credit is 800+... During the time of living with my parents, my friends that were living on there own were calling me 'cheap' and a 'momma's boy' for still being at home, but I could care less... Some of those same friends are back home living with their parents and they're telling me they should've just stayed until they were truly ready to be on there own... Bottom line: Staying at home (If Possible) will put you in a great position in your future, providing that you save properly and take advantage of the situation... Heck, I have neighbors from India who have kids in their 30's that still live with them so maybe this is just an American thing... 

IMO there is nothing wrong to lean on your parents, as long as you actually NEED to, if you can land a job straight out of college, or if you simply never went to college and have trouble getting your income, which would be unfortunate, that's what parents are for, to help you along the way....now you cannot possibly tell me, that raking in 6k monthly, or between 100-200k you are NOT ready to branch on your own, at this point, you simply don't want to...the what if I lose my job reason, is something that unfortunately will always linger no matter how old you get....at that point if your parents allow you to stay and you chose to, it seems a bit like you scared to be on your own, I've been on my own since before I even made a 1/3 of 200k...I still get to go away, have a car, splurge and save some and I live in NY, not the city, but my neighborhood is not the cheapest.

 

[krazyl3gz]

I just don't know why anyone would put themselves in a position where they would be living check to check unless living at home was unbearable. Too small of a margin of error.

 

[ksteezy]

I just don't know why anyone would put themselves in a position where they would be living check to check unless living at home was unbearable. Too small of a margin of error.

You are definitely right, tell you what though....it varies depending on your culture...speaking for Hispanics, a lot of times...parents can be a bit much, as far as how much love they show you and how they view you, I swear I feel like Hispanics parents will never treat you like an adult, till you step out on your own, while you reside under their roof you are their kid, they will call you at 3am asking you where the hell you are, they won't have much respect for your privacy, they will stay up at night till you get home, that can push a lot of dudes to branch out on their own before they are fully ready, you gotta keep in mind majority of people in NYC don't live in houses, we talking 3 BR apartments at most, at one point my room was the living room, I had a sofa bed which was my bed at night in a 1 BR apt....I got along perfectly fine with my mom, but as a man you need your space

 

[chez]

IMO there is nothing wrong to lean on your parents, as long as you actually NEED to, if you can land a job straight out of college, or if you simply never went to college and have trouble getting your income, which would be unfortunate, that's what parents are for, to help you along the way....now you cannot possibly tell me, that raking in 6k monthly, or between 100-200k you are NOT ready to branch on your own, at this point, you simply don't want to...the what if I lose my job reason, is something that unfortunately will always linger no matter how old you get....at that point if your parents allow you to stay and you chose to, it seems a bit like you scared to be on your own, I've been on my own since before I even made a 1/3 of 200k...I still get to go away, have a car, splurge and save some and I live in NY, not the city, but my neighborhood is not the cheapest.

I definitely understand your point... I guess it goes back to what I think you said earlier, as long as you're living at home with a purpose (ex. saving for house, paying off loans/medical expenses, etc)... I'm just saying move when you're actually in position to make a successful move and not because society says that you're too old and make too much to live at home with your parents... I understand that certain circumstances won't allow most to take this approach...  

 

[johnny cakes]

Wasn't speaking on OP....he's in no position to move out, he will struggle, I was speaking on people making 6k monthly, 100-200k yearly....like get real....don't feed people this BS of stacking paper for something better, you like the idea of minimal responsabilities and more money, it's a simple idea and what's not to like about it....

I completely understand your point and what you've been saying, I just think everyone's situation is different. There are people who are leaning on their parents, who can definitely be out there on their own..And then there are those who are just saving a little in order to do well when they get out on their own. Basically if the opportunity is there, why not? I just got my job and I plan on saving for about 6 months before I get out.

 

[krazyl3gz]

You are definitely right, tell you what though....it varies depending on your culture...speaking for Hispanics, a lot of times...parents can be a bit much, as far as how much love they show you and how they view you, I swear I feel like Hispanics parents will never treat you like an adult, till you step out on your own, while you reside under their roof you are their kid, they will call you at 3am asking you where the hell you are, they won't have much respect for your privacy, they will stay up at night till you get home, that can push a lot of dudes to branch out on their own before they are fully ready, you gotta keep in mind majority of people in NYC don't live in houses, we talking 3 BR apartments at most, at one point my room was the living room, I had a sofa bed which was my bed at night in a 1 BR apt....I got along perfectly fine with my mom, but as a man you need your space

Haha yeah definitely. In that situation it would be something to consider but I think that falls back on whether or not living at home was unbearable. My brothers shared a room and my parents slept in the living room so I know how valuable personal space is.

To the OP, at 1600-1800 take home in NYC you would have a hard time enjoying being young. I'm making almost double that and I'm having a hard time finding something in Seattle right now... The every day bills are one thing but you should consider other things too. Are you going to go out? What if you lose your job? How are you going to afford new clothes? Vacations? If you didn't have something lined up it's going to be a struggle to get by.

 

[foamtothedome]

all depends what your cocaine/stripper habit costs..

 

[88th]

soo much learned from all of you.
Graduated a year ago and have yet to look for a job.
I'm working retail like 3 days a week and make jack compared to all of you. I'm working on making a webshow with my friends, but this thread makes me wanna lace up a business suit and go corporate.

 

[ksteezy]

soo much learned from all of you.
Graduated a year ago and have yet to look for a job.
I'm working retail like 3 days a week and make jack compared to all of you. I'm working on making a webshow with my friends, but this thread makes me wanna lace up a business suit and go corporate.

If the web show is what you are passionate about, invest yourself in it.

 

[rocky437]

Is it better to live at home, save up, and buy a condo as a young single man or is it better to move out earlier, rent something modest and within your budget, and save money wisely to eventually make a condo purchase and pay maintenance? I'm guessing this depends on how badly you want to move out of your parents house and the housing market in the area in which you live.

Cuz buying a condo can be scary since you're tied down to it, but you don't wanna be renting for too long do you?

 

[theprinceofde]

I wish I made 100-200k a year. I'd move out pay my bills and majority of my mothers


Again as long as you have your **** straight and are trying to better yourself while still helping out around the house then it's cool, especially right out of college. I can't wait to finish grad school so I can jump into my career.

 

[celticsfan9783]

1600 - 900 - 96 - 350 = 254
Will $254/mo cover gas, auto insurance, electric/gas/water bill, cable/internet, food, clothes, entertainment?

Plus you're in debt (at least with the car loan) with little to no savings

Smart? no
Possible? probably not

Agree with this. Just keep saving up OP, it's important. Do you want your savings account to be bone dry every single month just so you can say you live on your own and just barely get by? At least consider getting a roomate. If that's not an option, better job, second job. You should be aiming to live on your own, pay all the bills, while saving some $ per paycheck. It's tough to do in today's economy.

 

[oidreez]

I just don't know why anyone would put themselves in a position where they would be living check to check unless living at home was unbearable. Too small of a margin of error.

You are definitely right, tell you what though....it varies depending on your culture...speaking for Hispanics, a lot of times...parents can be a bit much, as far as how much love they show you and how they view you, I swear I feel like Hispanics parents will never treat you like an adult, till you step out on your own, while you reside under their roof you are their kid, they will call you at 3am asking you where the hell you are, they won't have much respect for your privacy, they will stay up at night till you get home, that can push a lot of dudes to branch out on their own before they are fully ready, you gotta keep in mind majority of people in NYC don't live in houses, we talking 3 BR apartments at most, at one point my room was the living room, I had a sofa bed which was my bed at night in a 1 BR apt....I got along perfectly fine with my mom, but as a man you need your space

Replace hispanic with Nigerian and its the story of my life

 

[stunnafasho03]

Depends

 

[nazdrowie]

for those that are advocating saving up, what did you guys do with the money you saved? did you just let it sit in your accounts, sort of a **** hits the fan fund, spend it, or invest it?

*i know some people are saying use that money for a down payment on property but how much of your savings are you taking to put for it? i dont really have much of an interest in buying property right now but was just wondering...

I took 12k from savings and opened up an account at a trading firm. my friend is an adviser there and he dropped it into some mutual funds. id like to add more but dont want to deplete my liquid savings too much. hopefully i made the right move.

 

[OG44NJ]

OP, I'm about to buy a house. It's intimidating to say the least but you should know your finances. I suggest you sit down and do some budgeting. There are tons of free apps and software out there that can help you project your expenses. I'd do this first. 

At the end of the day, you will have your reasons to move out or to stay at home. Just make sure you're making an informed decision.

 

[ricky409]

so... cats moving back in with there parents...

WHILE making more money than they're parents?

#datslameb

 

[captainsneakerhead23]

so... cats moving back in with there parents...

WHILE making more money than they're parents?

#datslameb

NOW that's definitely lame.

 

[harlemtothebronx]

I just don't know why anyone would put themselves in a position where they would be living check to check unless living at home was unbearable. Too small of a margin of error.

You are definitely right, tell you what though....it varies depending on your culture...speaking for Hispanics, a lot of times...parents can be a bit much, as far as how much love they show you and how they view you, I swear I feel like Hispanics parents will never treat you like an adult, till you step out on your own, while you reside under their roof you are their kid, they will call you at 3am asking you where the hell you are, they won't have much respect for your privacy, they will stay up at night till you get home, that can push a lot of dudes to branch out on their own before they are fully ready, you gotta keep in mind majority of people in NYC don't live in houses, we talking 3 BR apartments at most, at one point my room was the living room, I had a sofa bed which was my bed at night in a 1 BR apt....I got along perfectly fine with my mom, but as a man you need your space

This 100%.

I never had the privacy or respect issues at my parents' house. The good thing was they always respected me as an adult and allowed me to come and go as I pleased...

But man, living in a tiny two bedroom with my mother and father wore on me. On top of that living conditions weren't great. House wasn't dirty, but roaches and mice were always popping up. Neighborhood sucked. Gunshots every night. My bedroom was tiny. I HAD to go. I took time to stack, and moved out about 7 months ago at 26. Held on for as long as I could.

Now, I don't really live check to check. My bills are all always paid on time. I go out and splurge here and there. I can put money away and my fridge is always full.

Main thing is I didn't go until I was absolutely ready and sure that I could survive and wouldn't end up back home. Nothing wrong with staying at home until you're ready at all.

Although being 26 and still at home in a teeny tiny bedroom is not the business.

 

[harlemtothebronx]

soo much learned from all of you.
Graduated a year ago and have yet to look for a job.
I'm working retail like 3 days a week and make jack compared to all of you. I'm working on making a webshow with my friends, but this thread makes me wanna lace up a business suit and go corporate.

Man, I was out if school working as a waiter 2-3 times a week. Then I lost that job and was straight unemployed for a while. That depression was real.

Things seem to work themselves out. I'm not rich, but I get by a million times more comfortably than I did growing up. Hard work always pays off.

 

[rocky437]

the worst thing about living with your parents still is not being able to bring women home at random times. And in ur very early 20's ur horny as hell. This is also one of my biggest motivators right now to get out - be able to bring women home.

 

[powerballin]

so... cats moving back in with there parents...

WHILE making more money than they're parents?

#datslameb

nobody is doing that tho...i don't even know why it was brought up

 

[ksteezy]

so... cats moving back in with there parents...
WHILE making more money than they're parents?
#datslameb

all about the bigger picture though....i know many married couples who make that sacrifice, move in with the inlaws, but for no longer than a year to save money.....obviously not living rent free and helping around the house....these are usually people who are stacking to buy a house though....lol....

ive contemplated the idea, specially since my inlaws spend half the year in DR anyways.....have to battle it out with my bro-in-law though, son has the same plan.....lmao

 

[captainsneakerhead23]

so... cats moving back in with there parents...
WHILE making more money than they're parents?
#datslameb

all about the bigger picture though....i know many married couples who make that sacrifice, move in with the inlaws, but for no longer than a year to save money.....obviously not living rent free and helping around the house....these are usually people who are stacking to buy a house though....lol....

ive contemplated the idea, specially since my inlaws spend half the year in DR anyways.....have to battle it out with my bro-in-law though, son has the same plan.....lmao

I agree, I know a few ppl at work who have moved in with the inlaws for a short period of time.

If your making 100-200K like someone mentioned earlier, and your parents only make half of that combined, that's an issue.

I think Ricky was tryin to say it's lame if your making more than your parents and staying in their house FREELOADING.