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Tayties t1_jabp2ut wrote

I recommend staying with your parents a little longer. It is easy to underestimate the cost of moving out, especially if you forget to account the occasional expenses, such as six-month insurance payments. Add on lifestyle creep of wanting to go out more often, hosting parties, and other things that won’t happen as much at your parents’ house. If possible, save up a down payment on a small house. Let the equity build a little and roll into a slightly better place.

Now for the other side, your social life will be somewhat diminished. However, it is possible to maintain if you are intentional about staying connected with your friends. Another bit of advice is to live out of your vehicle - keep a strict gym schedule after work and keep extra changes of clothes for different situations in the car. This will let you avoid running back home in the middle of the day and you won’t get sucked into sitting around. Casual relationships will be more difficult to impress living at home, but a significant other that cares will be supportive. It it possible to get through with your mental health intact, especially if your parents aren’t too intrusive.

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hems86 t1_jablo03 wrote

A basic 50/30/20 budget would be a good place to start. That is 50% of your net pay to essentials (rent, utilities, bills, food, car, etc), 30% for wants (eating out, having fun, buying clothes and other wants), and 20% to savings / retirement. At your income would be:

$2,200 for rent, utilities, bills, car, groceries, etc $1,320 for fun $880 to savings

Based on that, $2,200 a month for rent alone is too high for your income. Even cutting back on the 30% wants category, it’s still too high. You probably need to be around $1,300 to $1,400 per month for rent. That means you either need to find a cheaper place to rent or get a roommate to live in a nicer place / area.

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TheCSUFRealtor t1_jabr1n7 wrote

OP, I’m in Orange County as well. Kinda in a similar boat, living at home and saving lots of money. If I were to move out, I would strongly consider a roommate so you don’t have to pay $2k+/mo. The rental market here is expensive and you pay a huge premium for 1 bed units. Can’t blame you for not wanting a roommate though.

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sephiroth3650 t1_jach0ml wrote

I don't think it's a great idea to spend more than 50% of your net income on rent. What are you estimating for each of your other expenses?

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fatfafi t1_jado9ki wrote

I agree, thank you. I was estimating groceries, utilities, leisure etc.

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sephiroth3650 t1_jadrhro wrote

I should have been clearer. I was wondering what you were budgeting for, and how much you were setting aside for each item. Basically trying to rough out a budget to see if there was any way that this would look affordable. Without seeing it all, and just looking at your income and the rent number, I'd guess your best bet is to find a roommate.

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jgomez916 t1_jacnomf wrote

I would say move out with a roommate so your rent can be sub $1,400/month and you can still add generously to your savings for a future real estate purchase in SoCal or somewhere else.

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801intheAM t1_jabm0d6 wrote

I think you’re overestimating your groceries and utilities. What city do you live in? $2400/mo would get you a decent sized house in many US markets (aside from the big three or four cities).

You make plenty to move out. Living at home too long isn’t good for your self esteem and it doesn’t prepare you for real life. Life gets way too comfortable when you stay at home.

Moving out will be the best thing you’ll ever do.

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fatfafi t1_jabm45v wrote

I live in Orange County, CA. I overestimated slightly for utilities and grocery just in case.

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thewitchof-el t1_jachyzg wrote

How much do you gross a month? I doubt you’d be approved for an apartment in the $2,200 - $2,400 range, and that’s way too much to spend considering your income.

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fatfafi t1_jadnxpr wrote

I make 72,000 a year. My dad makes 300k+ and was going to co-sign the lease.

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CompetitiveBig5178 t1_jad0i81 wrote

Well if your not ready to pay your own car insurance or payment then your probably not ready to move out.

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