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Old 11-26-2013, 04:33 PM
 
Location: North Idaho
32,632 posts, read 47,964,911 times
Reputation: 78367

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My very best financial advice: do not get pregnant.

 
Old 11-28-2013, 12:33 AM
 
16,488 posts, read 24,471,880 times
Reputation: 16345
Quote:
Originally Posted by oregonwoodsmoke View Post
My very best financial advice: do not get pregnant.
I love my kids to bits, but it is very expensive to raise children, even if you try to do it cheaply, it isn't.
 
Old 11-28-2013, 01:19 AM
 
30,891 posts, read 36,937,375 times
Reputation: 34511
Quote:
Originally Posted by oregonwoodsmoke View Post
Also, I suspect that you could get the rent down lower by accepting a less expensive place to live that wasn't quite as big.
This is what I'm thinking. Why do 2 people with no kids need a 2BR townhouse???? Heck, there are people in my apartment building with 2 people sharing a studio.

It's really not worth it to stretch your income to rent a place. The stress it causes is just not worth it.

The "don't get pregnant" advice was also quite good! Should be obvious, but not when you look at the rate of unplanned pregnancies.
 
Old 11-28-2013, 05:59 PM
 
Location: Ontario, NY
3,516 posts, read 7,778,964 times
Reputation: 4287
Quote:
Originally Posted by bkm091 View Post
We're trying to figure out if we can realistically afford it.

...

We only make a combined income of about $1700-1800 a month.
My suggestion is to pretend you moved in together for a few months and see how you do.

So you take all the money budgeted for living together and deposit it into a saving account and see how you get along without that money. This way if you find out you can't stick to your budget before you jump into it in real life. I only wish I did the same thing before I purchased a big house with my Wife, to showed her the budget numbers before we purchased, but after only a few months after buying the reality of having so little money after expenses made her very unhappy.
 
Old 11-28-2013, 06:17 PM
 
Location: In America's Heartland
929 posts, read 2,091,805 times
Reputation: 1196
It can be done if you can stick to a strict budget, by living on much less than you make. If you can't, it really doesn't matter how much you make. The extra job would be a good idea and I would work real hard to build up a solid emergency fund from that extra income. When one needs extra cash... go to work.
 
Old 12-03-2013, 07:07 AM
 
18,547 posts, read 15,570,971 times
Reputation: 16225
Quote:
Originally Posted by bkm091 View Post
I'm a 22-year-old college student and my boyfriend and I are looking to move into our own apartment. We live in western Pennsylvania, where the cost of living is quite low and we have found a decent two-bedroom townhouse nearby for $575, including sewage. It has central air and gas heating. We've never lived on our own before and we're nervous about making the move. We're trying to figure out if we can realistically afford it.

We only make a combined income of about $1700-1800 a month. We are very lucky in that we do not have car payments nor do we have any credit card debt whatsoever. So our main expenses would be electricity, gas, cable/internet, car insurance, gas for the cars, and groceries. I believe that we should be able to pay our utilities and rent with about half of our earnings. The other half would go towards the cars and food. This is what worries me the most because they will undoubtedly be our biggest expenses. Is it possible for two people to eat relatively well for under $250 a month? This is assuming that we don't eat out. Both of us have to travel about 15-20 minutes on the highway 4 to 5 times a week to get to work and school. I don't really track it at the moment so I'm nervous about how much gas will cost.

So what do you think? Can we do it? I think that some odds are in our favor, such as the fact that we don't have the burden of car payments and that we will live in a low-cost area. So if we follow a budget and aren't careless, can we get by alright? And perhaps even have a little extra money to occasionally eat out or see a movie? I might take another job part-time that would earn me an additional $350-400 a month. Do you recommend this?

Your help will be greatly appreciated.
How secure are the jobs?

Unless you have good protections in place, you cannot afford that long of a commute on your income. Remember that it's not just gas, but you also have to put away more money for car repair and replacement . There is no such thing as driving without wearing out the vehicle.

Move closer to work.
 
Old 12-03-2013, 04:58 PM
 
Location: Where I'm At
582 posts, read 1,118,310 times
Reputation: 1388
Quote:
Originally Posted by oregonwoodsmoke View Post
My very best financial advice: do not get pregnant.
Quote:
Originally Posted by mysticaltyger View Post
The "don't get pregnant" advice was also quite good! Should be obvious, but not when you look at the rate of unplanned pregnancies.
Totally agree ! While doing some research I discovered that November 12, 2013 was recently celebrated as the first annual Thanks, Birth Control Day (Thanks, Birth Control | The National Campaign) by The National Campaign to Prevent Teen and Unplanned Pregnancy. (I think I just found my volunteer project for 2014.)

Personally, I hope that Thanks, Birth Control Day (November 12th – mark your calendars for next year!!) becomes as well known as Black Friday and Cyber Monday – two completely useless days that women (and some men) love to celebrate each November.

Anywhooo, OP, please, please, please do not get pregnant right now. You've been warned, young lady. Carry on .
 
Old 12-03-2013, 05:31 PM
 
30,891 posts, read 36,937,375 times
Reputation: 34511
Quote:
Originally Posted by clevergirl05 View Post
Totally agree ! While doing some research I discovered that November 12, 2013 was recently celebrated as the first annual Thanks, Birth Control Day (Thanks, Birth Control | The National Campaign) by The National Campaign to Prevent Teen and Unplanned Pregnancy. (I think I just found my volunteer project for 2014.)

Personally, I hope that Thanks, Birth Control Day (November 12th – mark your calendars for next year!!) becomes as well known as Black Friday and Cyber Monday – two completely useless days that women (and some men) love to celebrate each November.

Anywhooo, OP, please, please, please do not get pregnant right now. You've been warned, young lady. Carry on .
Thank you for the link!

The Alan Guttmacher Institute, a pro-choice organization, says:

• Forty-six percent of women who have abortions had not used a contraceptive method during the month they became pregnant.


No matter where one stands on the abortion issue, this statistic should be seen as absolutely unacceptable by everyone.

http://www.guttmacher.org/pubs/fb_induced_abortion.html
 
Old 12-03-2013, 08:08 PM
 
2,420 posts, read 4,367,597 times
Reputation: 3528
Do you have some kind of health insurance? If you are in school, I know your parents can keep you on their plan until you reach age 26. Your biggest uncontrollable expense is going to be the vehicles. Gas is going to cost you a pretty penny with two vehicles, then there is insurance and unless you both have newer cars, you will have unexpected car repairs, tires, etc, which can be quite costly. You will probably find utilities quite expensive too. I recommend investing in two very warm robes for the winter, and make sure you have a ceiling fan in your bedroom for the summers to keep that thermostat from going too low in summer.

Costs you can control will be food, clothing, cable, phone, internet. I strongly recommend you ditch any expensive phone plans as soon as you can, as well as data plans. You can buy service quite reasonably for two phones from Ting. About $20 a month for both of you for just phone and some texting if you must.
Forget about cable, and just subscribe to internet and purchase Netflix for $7.99 a month. You can rent DVD's from Redbox for $1.50 for your big Saturday night date night. You can also go to your local library and get 10 DVD movies at a clip for nothing. If you must have clothes, try your local thrift store for any items you may need for either clothing or furnishings. (except underwear )

I agree also that you don't need a two bedroom apartment. If you can save another $150 for a one bedroom. Being in a safe place is all that is necessary. Your probably in love, so that will bring you all the comforts you crave (provided you are suited to each other ) But setting up the ground rules ahead of time will make things much easier for you in the long run.

I would write out a list of expenses, and who is going to pay for what and when. I would address house cleaning and laundry and who will do what and when, including cooking, clean up, grocery shopping etc. I would discuss friends issues, drinking, drugs, smoking, and family influence. Call it your co-habitative contract with each other. If you just didn't have the expense of the cars, all could be golden I think. Is there anyway of making due with just one car?

Last edited by modhatter; 12-03-2013 at 08:17 PM..
 
Old 12-04-2013, 09:45 PM
 
2,420 posts, read 4,367,597 times
Reputation: 3528
Something else that should have been added. In order for anyone to say if you can make it you should give some more information.

Such as: What kind of cars do you drive and what kind of gas mileage do you get.

How old are the cars.

How much is car insurance for each car?
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