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Old 05-07-2009, 06:38 PM
 
92 posts, read 257,133 times
Reputation: 26

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Okay, so I've been working out where my money is going to go when I move to L.A. and wondered if you all thought it would work in practicality. Keep in mind that I am an actress and living fairly conservatively.

My savings: $8000

Apartment - rent and bills for 3 months (I'm going to be sharing a 2 bedroom, though not exactly sure of the rent yet): $1,100 per month, so totalling $3,300.

Security deposit: $1000.

Spending money for 3 months (again, being very careful): $700

Furnishing my room, i.e., bed, mattress, dresser, the basics: $1000

Second hand car I'm buying from a friend, plus registration fees: $2000

Is there anything I'm missing?
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Old 05-07-2009, 06:44 PM
 
11,151 posts, read 15,835,047 times
Reputation: 18844
Car insurance and food .....
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Old 05-07-2009, 06:50 PM
 
Location: Sherman Oaks, CA
6,588 posts, read 17,550,899 times
Reputation: 9463
Make sure that your friend provides a current smog certificate on the car you're buying. It's the seller's responsibility, and required with every used car sale in California.

Parking costs can add up, too, depending on where you have to go for auditions.
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Old 05-07-2009, 06:54 PM
 
Location: Planet Earth
1,084 posts, read 3,288,274 times
Reputation: 857
Until you get work I'd be sleeping on an air mattress and putting my clothes in a Tupperware type bin.
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Old 05-07-2009, 06:55 PM
 
92 posts, read 257,133 times
Reputation: 26
I've done 3 months of an air mattress already and can't do another 3 months...which is why I've budgeted for furniture!
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Old 05-07-2009, 06:56 PM
 
Location: Planet Earth
1,084 posts, read 3,288,274 times
Reputation: 857
I just think the money would be better off saved for an extra month of bills.
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Old 05-07-2009, 07:06 PM
 
11,151 posts, read 15,835,047 times
Reputation: 18844
Quote:
Originally Posted by SandyCo View Post
Parking costs can add up, too, depending on where you have to go for auditions.
And parking tickets !!!

(Supposedly it's good luck to get a ticket during an audition ..... )
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Old 05-07-2009, 07:06 PM
 
12,823 posts, read 24,402,599 times
Reputation: 11042
You have minimal savings and would be at high risk. While it may not be practical for you to have 1/2 year of income in savings (which is the normal recommendation for minimally effective financial planning), at very least, try to beef up your savings. One thing goes wrong, and you'll be in a bad way immediately.
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Old 05-07-2009, 07:13 PM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,761,592 times
Reputation: 17831
Quote:
Originally Posted by Clinton167 View Post

Is there anything I'm missing?
Health Insurance
Auto Insurance
Retirement savings: Regular or Roth IRA
Disability Insurance
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Old 05-07-2009, 07:14 PM
 
92 posts, read 257,133 times
Reputation: 26
My health and car insurance are already taken care of. I don't have any retirement savings as I'm not a US citizen.
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