All this talk of budgets has got me thinking - so I went online and looked for a budget program. As I'm older than most of you looking for your apartments on an entry level budget, the first budget program that I looked at was AARP. I'm hoping the printout will publish here and that we can have a discussion of just how much someone can/should spend for an apartment. (note that on page 2 the first two columns are based on inputs and the second 2 columns are based on their recommendations, with the 5th column being the difference betweein input and recommended numbers.)
The attached budget allows for a $54K salary and $500 contribution to an employer savings plan and $110 for savings. It includes $1,200 for rent and a combined $200 for cable/telephone/internet. It has a $300 car payment and minimial debt payment of $100/month (listed as credit card payments). Other than that it is a pretty lean but liveable budget.
What do the rest of you think? Is it liveable for someone making $54K to spend $1,200 on rent?
Home Budget, Monthly Budgeting Calculator : AARP