Draft for a possible budget (Boston: sales, apartments, income)

[efrenb5]

Hi all,

I'm seriously thinking about relocating to Mass. As of now the more worrying aspect is, of course, how to manage monthly expense.

I went out of a limb and started to play with a possible budget to live in Mass. If you can please give it a look and let me know of any inconsistency you might find. I really loved Boston when I visited my brother during last December. The extended winter is not a problem for me because I'm tired of the all year heat of Puerto Rico.

The budget might be too detailed, but I'm like that.

50000 gross year income
4166.66 gross month income

5.3% Mass. income tax
7.65% ss + medicare
18% federal tax
-----------------
30.95% total payroll tax percent

$2877.08 - net income

MONTHLY EXPENSES
--------------------
1500.00 apartment
100.00 cable + internet (hopefully)
0.00 water (included in rental, hopefully)
150.00 electricity
59.00 subway (unlimited T and busses)
231.00 food ($7 per working day + 6.5% sales tax, only eating lunch outside)
0.00 heat (included in rental, hopefully)
60.00 cell (I barely make calls, mostly would be to my folks in Puerto Rico)
0.00 car expenses (I plan on travelling using the T)
0.00 phone (I use my cell exclusively)
--------------------
2100.00 TOTAL MONTHLY EXPENSES

$777.08 -> free net income

Do you think I could make a good living using $777? I live alone and have no children.

I'm yet not worried about where I would like to live. Besides, you guys give excellent advice about where are the good places, a quick search of the forum gives excellent results.

A quick search using craiglist looking for apartments at 1500 yielded a couple of interesting hits, even some 2 and 3 bedrooms where found during the search. However a studio would be enough for me, I just need enough room for my Rock Band 2 stuff (I'm a video game junkie ).