I have to move out of my current living situation by September, and if I don’t find a decent place to live, I am going to have to move back home to live with my Mother. I’ve found someone who is offering a bedroom in a fully furnished townhouse for $550 a month, which includes all necessary utilities. If you subtract utilities, the rent is basically $400. I’m used to paying $325 plus utilities. It’s in downtown Charlotte, NC in a good location. It sounds great, I am just worried about whether I should make the move financially or not.
I make $350 a week, roughly $1,400 a month, and I’ve heard that you should be making your rent within a single paycheck. My monthly expenses outside of rent/utilities/food/gas averages $500 (which includes student loans, health/car insurance, and credit card debt). So, adding that & rent would be about $1,050, leaving me $350 a month for gas, food, and entertainment. I could pick up a part-time job to give me some extra money. Does this sound stupid?
Yes, I’d be moving in with a roommate. I talk to him on Saturday to see if we are compatible. My Mom doesn’t live in Charlotte, she lives in SC about an hour away, so I’d have to commute each day to work. The paycheck I listed is the net amount, and I just realized that I actually make a bit more $370 a week. I am about to receive another small raise, so every bit helps. I think I can swing this, I just needed some reassurance because I am a bit nervous.
In a perfect scenario you should spend about 30% of your pay on housing. Don’t kill yourself on housing. NEVER LIVE PAYCHECK TO PAYCHECK!
Is this $350 gross or net? I’m guessing net.
Do you work in Charlotte? Does your mother live in Charlotte?
You did not give enough info to fully answer this but I think a second job would be a good idea. Try to find it in a field you might be interested in. Even better would be figuring out a cheap way to start you own business.
Is this a bedroom in a roommate situation? If so would rather have your mom as a roommate or this new person?
Please update this with more info.
