To move out of your parent's house, about how much should I save in the bank and how much should I earn?

The answer to this question would depend on whether you live in New York City or in Haiti. It would also depend on how high you base your standard of living. Want to live in a one bedroom studio in the ghetto, or would you be more comfortable in a spacious 3 bedroom home overlooking the sea?


Do you like Ritz crackers or tea and scones?


Top ramen or Top sirloin?





Find out how much an apartment costs in your area per month and make sure you're earning about 3 times that much per month. There's a good start. It would be nice if you had at least 6 months worth of living expenses in your bank account, or a credit card that you could use in an emergency.





Good luck with this.To move out of your parent's house, about how much should I save in the bank and how much should I earn?
Rent


Utilities (gas, electric, water %26amp; sewer, Trash service)


Phone, cable and internet service provider


Furniture ( unless you rent a furnished apt)


Auto %26amp; auto expenses (unless you use public transportation)


Tenant's insurance


Maintenance costs, (your expected to pay for many)





To set up housekeeping you're gouing to need; pots %26amp; pans, dishes, silverware, kitchen utincils, bedding, curtains %26amp; drapes, broom/mop, cleaning supplies, vacuum cleaner, washer/dryer, and a 100 other little things.





To rent any decent house or apt costs $400-$500 + a security deposit ( could be 2 X as much as a month's rent) Utility connections also require a large deposit.





To answer your question, you'll need about $10,000 to set up your own home, and you'll need to earn $700 - $800 a month to pay your bills. That doesn't include groceries and personal expenses or auto expenses.To move out of your parent's house, about how much should I save in the bank and how much should I earn?
Look around at apartments and see what the rent is. Decide if you are going to take in a roommate. Roommates may make it more difficult emotionally, but financially it is easier.





Here's the formula: take your monthly rent or your share of the rent, multiply it by 4 and that is what you need in gross pay per month. Other expenses will fit into the rest of the 75% provided you don't go overboard.





So, during the time between your paychecks, just buy what you really need, then when your check comes, see how much you have before you deposit and you can spend that much on non-essential items.





Start saving now. Save only a little but save with each check, later in life you will need that money for an emergency or a big purchase.





You need in the bank enough for the security deposit, and enough groceries to get you to your next check, if you have a job that can cover your rent. If you don't, wait until you have the job or you find a place with cheaper rent.





Make a friend with a pickup truck and buy them food or beer to help you move.
well your gonna want enough money for rent and bills including gas I figure $1000 but you can do it with less but not much less and a good job 40hr a week making $8/hr or better to get by.
Prepare a budget showing how much it will cost for rent, transportation costs, food, etc then save an amount equal to about six months worth. Also don't forget that many places to rent require security deposits. A budget will tell you how much you need to earn. For help contact Crown Financial Ministries and find a local budget counseler.
I would say at least $10 per hour or about $21,000 if salaried.





For savings I would say SAFE is in the $10,000 range. But you can do it for only maybe $3,000. Depends on where you live too... Cost of living will be different in New York vs. BumF*ck Arkansas.