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Old 09-14-2016, 12:02 PM
 
1 posts, read 1,332 times
Reputation: 10

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I am 18 years old with a 4 month old daughter. I want to move to Ames, IA, as that is where my job and my child's daycare is. As of right now I only have fixed incomes of a phone bill, car payment, daycare fee, and diapers. I am aiming to move out in February or March, and I just want to know how much is a decent amount to save up? I have no money saved up yet (yes I know horrible) and I have no furniture of my own that I can take along with me so EVERYTHING will be brand new. If your in the area could you list the prices or amounts you pay for rent, utilities, your own budgeting system, etc, or how much you saved up that left you in a comfortable place after moving in! Thank you!
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Old 09-14-2016, 01:13 PM
 
Location: Wisconsin
18,763 posts, read 19,686,539 times
Reputation: 47412
While I do not know the rent in Ames, Iowa, Be prepared to pay for first month's rent, last month's rent and a security deposit equivalent to one month's rent. Utilities can vary dramatically, you could be paying $100 for electricity, $100 for heat and $100 for internet & cable each month or half that amount or more than that amount. Some apartments may have included.

In my area, nice 1 bedroom apartments can range from $600 to $1,000. In round down areas a I bedroom apartment may be $300 or $400 a month. Most young people get room mates as they usually can't afford an apartment on their own.

Look at some old threads. I know that there was someone who had posted who had saved up $10,000 and he was concerned that he did not have enough money to move out from his parent's home. Another poster stayed at home until she had saved $20,000 (I think that she just liked that her Mom & Dad paid all of her bills & did all of the housework & cooking). OTOH, some people are OK with only a few thousand dollars saved up if they have a larger paycheck at a secure job.

It is also important to save up at least three to six months of expenses in case you lose your job. If the worse happened and you lost you job a week after you moved into your new apartment what would you do?

BTW, I have never even once in my life met an 18 year old who had the money to buy new furniture. While many may buy a new mattress & box spring basically everything else came from relatives or Goodwill, Craigslist or a used furniture store. And, even then it can get pretty pricey. Check on the prices now and see what you can get from friends or relatives that are getting rid of furniture.

To give you a personal example, by the time that I was 24 the only new furniture that I had ever purchased was a small TV, a bed and a card table & chairs.

I bought my first new couch & dining room table when I was 26 after I was out of college & graduate school and had a professional job. BTW, that was almost 40 years ago and I am still using the same dining room table & card table and all those chairs.

Good luck.
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Old 09-14-2016, 02:54 PM
 
1,585 posts, read 1,560,109 times
Reputation: 4944
Quote:
Originally Posted by kaliahh429 View Post
I am 18 years old with a 4 month old daughter. I want to move to Ames, IA, as that is where my job and my child's daycare is. As of right now I only have fixed incomes of a phone bill, car payment, daycare fee, and diapers. I am aiming to move out in February or March, and I just want to know how much is a decent amount to save up? I have no money saved up yet (yes I know horrible) and I have no furniture of my own that I can take along with me so EVERYTHING will be brand new. If your in the area could you list the prices or amounts you pay for rent, utilities, your own budgeting system, etc, or how much you saved up that left you in a comfortable place after moving in! Thank you!

You have not put numbers down, but I am assuming at 18, hopefully a high school grad, your wage is somewhere around $10 an hour. This move out adventure really needs to put on hold. YOU ARE BROKE WITH AN INFANT!

If you are with your parents you need to crawl on your knees to them and beg to stay, work out a plan for you to get your life together and a career path.

If you go, be forewarned the chances of you having a good life for you and more importantly your baby are darn near zero. Give these guys a call, I am sure they can put you in contact with people who were just like you. Broke teenager with a baby, I bet they have some wonderful stories on how it worked out.

Ames Emergency Residence Project
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Old 09-14-2016, 04:02 PM
 
43,364 posts, read 17,891,688 times
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In addition to a deposit on your apartment, you are may need a deposit to get the electricity turned on as well.

Start working up a budget. You mention phone bill, day care, diapers, and car payment. I assume you also have formula, food, car insurance, and gas as well.

After you pay for these items, what do you have left for rent and utilities?

You may want to consider going back to school to increase your earning potential instead of moving out on your own right now.

PT and OT assistants make a decent salary. Check with the counseling center at your local community college. They will have a better idea of what is in demand in the area.
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Old 09-14-2016, 04:33 PM
 
258 posts, read 274,709 times
Reputation: 472
Will you have to pay for daycare for your daughter as well?

I'm not sure of the rents in Ames, but in your situation I wouldn't move out until you had about three months worth of expenses saved up. More is better, but three months of expenses will get you into an apartment, and cover the first month and provide you cushion of savings so that if you lose your job or you need to take unpaid leave you can still cover your expenses.

And, I'd also suggest that you save up money for a mattress for yourself and a crib for your daughter, and then plan on buying furniture from thrift stores or ask family and friends for hand me down furniture. You can then replace that furniture in the future with new things.
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Old 09-19-2016, 11:18 AM
 
Location: Dallas, TX and Las Vegas, NV
6,551 posts, read 5,377,853 times
Reputation: 14451
You will need $6,357.48 exactly

Also, that assumes you will be making purchases of used furniture on Craigslist.

If you by new furniture you will need $8,942.21 exactly

If you rent a furnished place you will need. $7,888.63


So Plan for the above and you will be all set.
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Old 09-19-2016, 05:58 PM
 
525 posts, read 482,942 times
Reputation: 1610
Quote:
Originally Posted by kaliahh429 View Post
As of right now I only have fixed incomes of a phone bill, car payment, daycare fee, and diapers.
Those are your BILLS, not your income.

Aim for not new, USED!!!!

Used furniture can be had, sometimes for free. Keep an eye on Craigslist/freecycle/Nextdoor and when people post things for free, go get it.

You need first and last month's rent as well as deposit, usually equal to one month rent. You need deposits for all utilities. You need transportation, insurance for the transportation and your and your child's health. And then food, clothing and childcare. Most likely, at age 18, you will need a co-signer.
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Old 09-21-2016, 11:51 PM
 
Location: Des Moines, Iowa
5 posts, read 5,298 times
Reputation: 20
Ames is a tricky place due to it being a college town. Your best bet and cheapest would be to wait til college is out and get something then. Apartment/Housing rent prices do go down when college is out and people leave.
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