Living on $25,000 after taxes - Young adult.

[Anonymous]

20 years old and just a few weeks until I finish college. Have a Manager position at a retail store that pays more than what I can find with my degree (At this moment and I'm always looking). Its a two year basic associates degree. Work full time. Where and how can I cut expenses when I move out on my own. Zero college debt since I worked and paid it off. Went to community college. Staying at home is not an option once I graduate. My sister is willing to let me stay for up to 6 months for "really cheap" in NC. Here's my question- Should I move to NC and transfer stores while making the same thing? Allowing me to hopefully save up some money to go back to school?


Expenses
$130-150 month on groceries/eating out. Lots of sandwiches and soups, waters, juice, salads, etc.
$400 Car with insurance and gas
$25 Personal care items
$30-60 average month on clothing,school supplies + pet cat
$60 phone


I will be looking for a room mate to share a one bedroom. Still what I'm seeing is $1200-1500 for a studio to 1 bedroom. Plus utilities. Or move and get my own one bedroom for $800-850 month while making the same thing. I'm visiting right now and we are going to look at places.

Did i forget anything to add to my expense sheet. My sister plans on giving me a sofa, tv, bed,dressers, desk, lamps and small kitchen stuff that she wants to upgrade. Every time we run the numbers it seems very very do-able if I move.

[Anonymous]

Look for an employer that will offer tuition reimbursement, so you can go to school while working to get your BA.

You can live on the cheap and get a few roommates.

[Anonymous]

I made about that when I was a Nanny. I rented a room in a shared townhouse and paid $400 a month. Im sure it will be a bit more now but not that much more.
Your car payment seems high, I drove an older car that I bought outright. When I bought a newer car and had payments I made sure they were less than $300 a month and not for more than 5 years.

[Anonymous]

Why would you spend money on water? We're in America. Are you planning to move to Michigan?

Just buy a water bottle and a Brita filter and don't pay beyond that for water.

[Anonymous]

You can easily do this. I am not sure your food budget is realistic, but right now this only looks like 7-800 dollars a month.

[Anonymous]

Sell your car, buy something much cheaper either with no payments or payments that are half the cost. Get a second and third job if need be.

[Anonymous]

Anonymous wrote:Why would you spend money on water? We're in America. Are you planning to move to Michigan?

Just buy a water bottle and a Brita filter and don't pay beyond that for water.

I only drink bottled water even though I have a filter on my refrigerator water and faucet water. A 32 pack for $4 is not going to matter to your budget.

[Anonymous]

Your money would certainly go much farther in NC, but I think your longer term career goals are more important than the immediate budget. How do they vary depending on location? If there's no reason to be in DC, I would choose NC.

[Anonymous]

Remember to budget in entertainment. Young people like beer. And wine. And social stuff.

I am old, but I vaguely remember that and assume that hasn't changed much!

[Anonymous]

I think food will be more expensive unless you rarely eat out or prepackaged .

[Anonymous]

Are all your health care costs covered by your employer?

I understand your not budgeting savings/retirement yet, but you need to start sometime.

I don't know how anyone eats on $150 a month.

[Anonymous]

$150 for groceries is definitely optimistic. That's under $5 per day.

I find that people tend to grossly underestimate their food costs.

I would anticipate at least $200-250, unless you are super disciplined and frugal.

[Anonymous]

Move to nc

Drink tap water

[Anonymous]

Move to nc

Drink tap water

[Anonymous]

Look up how long you need to live there in order to qualify for in state tuition. And look up how long you can be away from your current state before you no longer qualify for in state tuition. You may be looking at not going to school for 1-2 years while you establish residency for the purpose of tuition.