Japanese & White Couple Moving to Hawaii

[John719]

Hi board, I have made a prelimanary budget. This is for two adults and one four year old child, not in school. Monthly budget.

Rent (two bed one bath) $1,100
Utilities $140.
Food (groceries) $600.
Medical (Kaiser) $580.
Phone/TV/Internet $150.
Misc.(gas, entertainment etc.)$140. (corrected)

$2,610.00 (per month)

Would need a job that paid at least $16.56 per hour and was 40 hours per week. Or two jobs, one that was 40 hours and another that is 20 paying at least $11. per hour. But this would cover basics only, so wife would have to work at least 20 hours per week, which could bring our monthly take to; $3,520. but then you have the daycare issue. How much is daycare on Oahu?

We decided to come in July and bring enough funds to live for a minimum of six months and pay for six months rent up front. But the more I think about it, if we wait until September we can bring enough funds for one year. But the longer we wait the more chances of us never getting their increase.

My wife has been toying with the idea of going ahead of me, leaving me behind here in CA to finish closing out my business. Were going beginning of May for ten day's to research apartments, cost of living, furniture, schools & drive coomute times from different areas.

Well I'm just venting and looking for feedback on my budget. Is it realistic? Is anything being left out? What type and where would a place rent for $1,000 -- $1,200, we prefer East Oahu, Downtown, Salt Lake & of course Waikiki convention area.

[PacificFlights]

The Misc. is way low. Gasoline could be $40 per week.

What about debt payment such as misc credit cards? did you figure life insurance, money set aside to travel off the island, clothing, vehicle insurance, vacations, car repairs, and all the other things you spend money on each year.

[John719]

Misc. should of been $140, it was a typo. Life insurance, no have. Tavel off the island, no intention for at least the first year. Ok vehicle insurance needs to be factored, that will add another $60 per month, vacation? I'm in Hawaii, I think the vacation concept of Hawaii will take at least a year possibly two to wear off. car repairs; car is pretty new, so basic maintenance is all that is needed, plus the mileage driven on Oahu wont be as much as in CA. Here I drive up to 20,000 miles per year. Lot's of times around the islnad for that much mileage. Dont have credit card debt because I dont have them. I live on a cash basis. If I dont have the money then I dont buy it. I got all caught up in the real estate refinance cycle robbing Peter to pay Paul thing here in CA. Have two forclosures and filing chapter 13 for the business and possibly 7. But I can still milk around $40K -- $60K by July, Aug or Sep.

[SkyBob]

If I am doing the math right your line items add up to $2,710 instead of $2,610. That's probably because you upped the miscellaneous from $40 to $140 but not the total?

You say your job needs to pay $16.56/hour but that will only cover the listed expenses if your employer does not take anything out for income tax, social security, etc. As was already mentioned you are not budgeting anything for retirement or the unexpected bills, like the occasional flat tire, or worse.

Bob