rjs0416
3-7-11, 12:22pm
I've posted on this forum to some extent prior to the migration to the new domain. I'd just like some advice since I am going to have to pinch a little to live in a new location.
I just signed a lease for a BEAUTIFUL, albeit small alcove studio in Boston, right in the city-center. It is updated, beautiful views, and includes all utilities (even electricity). The space is approximately 500 sq ft and I will be living alone and paying for everything by myself. Does this monthly budget look appropriate? Any suggestions for cost cutting:
Income 4400
Car -385
Car Insr -110
Cell Phone -110
Internet -60
Gasoline -240
Food -300
Credit Card -500
Discretionary -350
Remainder 2345
Parking -100
Rent -1475
Savings 770
I've decided to take the following cuts already:
1. No cable television - will use antenna
2. No house phone - will use cell phone for personal and work
3. Cancel gym membership - use outdoor gym and sports at local park in summer, use friend's home gym in winter.
4. Require faster Internet for work - absolutely can't settle with less expensive package.
So I have three areas that I can absolutely cut from:
1. Food spending
2. Discretionary spending
3. Parking
In an urban area, I'm not sure if $300 is too much or too little to spend on food. In January, I made the following cuts:
- no longer getting morning coffee at shop - opting for free coffee at work. Might buy a cup of coffee at a coffee shop once a week, $3
- no longer eat out as much, withdraw $200 from checking account at the beginning of each month and use that for exclusive grocery store spending
Discretionary spending:
I figure $350/mo will go quite a ways in paying for the following:
- medical/dental expenses
- car maintenance
- entertainment (clubs/bars/dancing/movies)
- clothing
- unexpected bills (excise tax, occasional parking fine, travel costs)
Parking:
- to park or not to park, that is the question. For free, I can do resident parking (open street parking with resident sticker). If I can't find a resident spot, I can find my car a nice home at a parking meter, waking up early to move the car to a resident spot.
- parking behind the building is $100/mo for a single, uncovered spot. This is a STEAL for the neighborhood.
I haven't lived in an urban setting in four years. At the time, I was with two roommates so didn't have to worry about self-budget to save money.
Anyone with experience in small apartment living have any advice?
I just signed a lease for a BEAUTIFUL, albeit small alcove studio in Boston, right in the city-center. It is updated, beautiful views, and includes all utilities (even electricity). The space is approximately 500 sq ft and I will be living alone and paying for everything by myself. Does this monthly budget look appropriate? Any suggestions for cost cutting:
Income 4400
Car -385
Car Insr -110
Cell Phone -110
Internet -60
Gasoline -240
Food -300
Credit Card -500
Discretionary -350
Remainder 2345
Parking -100
Rent -1475
Savings 770
I've decided to take the following cuts already:
1. No cable television - will use antenna
2. No house phone - will use cell phone for personal and work
3. Cancel gym membership - use outdoor gym and sports at local park in summer, use friend's home gym in winter.
4. Require faster Internet for work - absolutely can't settle with less expensive package.
So I have three areas that I can absolutely cut from:
1. Food spending
2. Discretionary spending
3. Parking
In an urban area, I'm not sure if $300 is too much or too little to spend on food. In January, I made the following cuts:
- no longer getting morning coffee at shop - opting for free coffee at work. Might buy a cup of coffee at a coffee shop once a week, $3
- no longer eat out as much, withdraw $200 from checking account at the beginning of each month and use that for exclusive grocery store spending
Discretionary spending:
I figure $350/mo will go quite a ways in paying for the following:
- medical/dental expenses
- car maintenance
- entertainment (clubs/bars/dancing/movies)
- clothing
- unexpected bills (excise tax, occasional parking fine, travel costs)
Parking:
- to park or not to park, that is the question. For free, I can do resident parking (open street parking with resident sticker). If I can't find a resident spot, I can find my car a nice home at a parking meter, waking up early to move the car to a resident spot.
- parking behind the building is $100/mo for a single, uncovered spot. This is a STEAL for the neighborhood.
I haven't lived in an urban setting in four years. At the time, I was with two roommates so didn't have to worry about self-budget to save money.
Anyone with experience in small apartment living have any advice?