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I got a quote for renters insurance for $250 a year. I'll be paying that up front. As for auto insurance, my parents are gonna be helping me with that. so I don't have to worry about paying that. .
This is way too high for an apartment. I lived in the Everett/Mukilteo/Harbour Pointe area for about 22 years, while renting for several of those years. I never paid over $100 a year for renter insurance, and this was with Allstate.
Check out eInsurance online. They should give you a better choice than the $250. Also, most if not all apartment complexes have an insurance company they work with, since renter's insurance is mandatory just about everywhere you go. They should also be able to beat the $250 amount. If your parents are paying for your car insurance, maybe they can include the apartment insurance and get a multiple policy discount. You could always pay them for your apartment insurance.
Also, $650 in Tacoma might be pretty iffy. Sounds too cheap. There are a few bad areas in Tacoma concerning crime, drugs, etc. Would it be possible to fly out to Tacoma for a couple of days just to check out the apartment and neighborhood ? I left Washington 2 years ago and don't remember seeing any apartments in Western Washington for $650.
This is way too high for an apartment. I lived in the Everett/Mukilteo/Harbour Pointe area for about 22 years, while renting for several of those years. I never paid over $100 a year for renter insurance, and this was with Allstate.
Check out eInsurance online. They should give you a better choice than the $250. Also, most if not all apartment complexes have an insurance company they work with, since renter's insurance is mandatory just about everywhere you go. They should also be able to beat the $250 amount. If your parents are paying for your car insurance, maybe they can include the apartment insurance and get a multiple policy discount. You could always pay them for your apartment insurance.
Also, $650 in Tacoma might be pretty iffy. Sounds too cheap. There are a few bad areas in Tacoma concerning crime, drugs, etc. Would it be possible to fly out to Tacoma for a couple of days just to check out the apartment and neighborhood ? I left Washington 2 years ago and don't remember seeing any apartments in Western Washington for $650.
Its a low income community.
And as for insurance being so high, that was just a guess. I looked at state farm, they quoted me at $128/year
I'm taking a quick trip to Seattle next month and see where I can live.
Where do you recommend, for no more than $750/monthly? Somewhere with a short commute to Seattle, about 30 minutes.
Last edited by thespykidinseattle; 08-06-2014 at 09:37 PM..
Kid, there are two good choices: live near where you work or work near where you live. That is the rule in Los Angeles. I've visited Seattle a few times but not real familiar with it, but I see no reason why it wouldn't be the same category.
Here is my rule of thumb, for Los Angeles, for everywhere. Never live more than 30 minutes from work, or vice versa. That is one hour out of your life 5 days a week, spent sitting in your car and buying expensive gasoline.
A week has 168 hours. If you spend 8 hours each day sleeping that leaves 112 hours. If you spend 5 days a week commuting 1 hour a day and 1 hour for lunch that leaves 62 hours a week of free time.
During that free time you are going to have to clean your house, do your laundry, go to the dentist (maybe you'll get time off for work).
Let's say you spend 7 hours a week cleaning and washing clothes, now your life is 55 hours. This is your maximum leisure time for most of America. If you commute 1 hour each way instead of 30 minutes each way that is 5 more hours in the car and 5 more hours of gasoline, and now you have 50 hours of free time. That extra 30 minutes cost you 10% of your leisure time.
Trust me on this, make the distance between home and work no more than 30 minutes one way. And test this drive time during commute hours, not on the weekend.
And as for insurance being so high, that was just a guess. I looked at state farm, they quoted me at $128/year
I'm taking a quick trip to Seattle next month and see where I can live.
Where do you recommend, for no more than $750/monthly? Somewhere with a short commute to Seattle, about 30 minutes.
If you don't have a lot of expensive stuff, I think you can still beat the $128, but not by much.
It is about 40 miles between Tacoma and Seattle, depending on where you start and where you will go. There is also a lot of traffic on these 40 miles. If traffic is going 60 mph, then it would take 40 minutes to go 40 miles. This hardly ever happens between Tacoma and Seattle, especially during rush hour.
Also, I-5 interstate is the only major road between these 2 cities. There is Highway 99, but this is a surface street with a lot of traffic lights. When I-5 gets jammed, then a lot of people will switch to the 99, and then this is a nightmare. Traffic jams on I-5 can add at least a hour to your driving time.
Sounds like you will work in Tacoma, but go to school in Seattle ? If so, then maybe look for a place in between the two, like Des Moines or Burien. These are considered to be bedroom communities and have many apartment communities.
Last edited by New2Tucson; 08-06-2014 at 10:26 PM..
New2Tucson what you just said could equally apply to Los Angeles with only a minor change in the names. We even got I-5 and the same problems here. I-5 goes almost right by my house. I-5 is the only way to get to the San Fernando Valley and the rest of LA, other than "The Old Road." You would call it Highway 99! I'm serious. Google it.
At least The Old Road is known by only about one-third of the commuters. The rest are cattle. It's how I sneak into the Valley when I-5 is jammed by commuters.
And as for insurance being so high, that was just a guess. I looked at state farm, they quoted me at $128/year
I'm taking a quick trip to Seattle next month and see where I can live.
Where do you recommend, for no more than $750/monthly? Somewhere with a short commute to Seattle, about 30 minutes.
No, you need to find something even cheaper.
Rent a room for a few hundred a month, feed your savings acct and when you have 6-9 mths worth of expenses saved, then think about going on your own.
Ideally you should have no less than 12 mths expenses saved (we keep 24) but this isnt' going to be easy. You don't make enough money, even with the $300 you're 'saving' from your car.
Do have a job already lined up? I can't remember and I'm too lazy to back read. If you don't then your budget could be totally out of whack.
Rent a room for a few hundred a month, feed your savings acct and when you have 6-9 mths worth of expenses saved, then think about going on your own.
I agree. When I left home I lived in a hostel for a few months where I shared a "dorm room" with five others, then moved into a shared room with a friend (communal kitchen and bathroom with other tenants) and I don't think I had my own place for a few years. But I lived within my means, didn't rack up any debt - and met all sorts of new people I never would have met had I been living on my own.
Having a budget is a good and essential first step but additional expenses crop up however realistic you are - and your margins are dangerously slim.
The only place I can see to save is the $300 car payment. Can you work over-time hours and use that $$ to pay down the loan? Maybe pick-up some pet siting gigs? I would diivid any exta $$: 40% to pay ahead on loan, 60% emergency fund. When you have loan paid ahead by 6 months, pay 20% on loan and 80% emergency.
I would also skip the renter insurance altoghter--check out the deductable and what the policy acctually pays for and what's excluded.
$2k for strat-up furnishing sounds high. Keep it basic. Don't get sucked into the trap of making your apt look like the IKEA set-up. Maybe mom and dad have extras you could mail ahead using UsPO: Not new but, having familiar items may help with the emotional tranistion: Bed linens (eletric blanket is great idea), simple pots and pans and dishes (four is all you need), towels. Basic items you'll want to buy new are matress and shower curtian. A table with two chairs for dining and paperwork is good idea. I'd budget $1K for strat-up. Don't worry about filling -up space with Furniture right away. Stuff will come. Never bring an item or furnature into you home unless you truly love it and need it. Keep it simple.
When I was young I lived with roommates for 3 years until I could afford to be on my own. Having your own place is so much better than sharing with roomates. If you can make it work, go for it.
I agree. When I left home I lived in a hostel for a few months where I shared a "dorm room" with five others, then moved into a shared room with a friend (communal kitchen and bathroom with other tenants) and I don't think I had my own place for a few years. But I lived within my means, didn't rack up any debt - and met all sorts of new people I never would have met had I been living on my own.
Having a budget is a good and essential first step but additional expenses crop up however realistic you are - and your margins are dangerously slim.
The OP has a career tracked employment with promotion possiblity and is actively pursuing an college degree. Furthermore the OP appears to have two parents activley supporting his/her success.
The OP should not be fearful of the future or of taking calculated risk. Too many young people sabotoge thier chances at success by "playing it safe". Seventy years later, they see themselves in the same tiny rented room still doing dishes and collecting food stamps.
Last edited by Ultrarunner; 08-07-2014 at 12:40 PM..
I know I gotta save more money, and eventually I'll be making way more money too.
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