![]() Without a roommate, you’d have to work full-time (160 hours) earning around $19.00/hour to afford this budget (this takes taxes into consideration for a person with single filing status). We also discussed how much he would need to save up for that first apartment, including first month’s rent, last month’s rent, and a deposit (equaling one month’s rent).įinally, I broke down approximately how much it would cost to afford this lifestyle of moving out on your own or with a roommate. I wanted to show my brother how much of a difference it could make if he lived with a roommate – at the time he had a one-bedroom apartment, and so he’d have to move to make that happen. The cost of living in NYC, for example, is going to be wayyyyy more than in the middle of Texas. Note: this is “typical”, but the numbers may vary wildly depending on where your teen is going to live. We sat down, and created what a typical young adult’s budget might look like. He was having trouble visualizing what his next step in life would look like – moving out into an apartment as an older teen. This is the sample budget I created with my own 18-year-old brother several years ago. Sample Budget for 18-Year-Old – Who Will be Getting an Apartment Psst: wondering how much money an 18-year-old should have saved? 2. Next up, a sample budget for teens that will be getting their own apartment. However, they are both paying rent and their gas costs – keeping their parents happy – and will be looking at a better tomorrow (since they’re saving as aggressively as they can for a car). There’s not much wiggle room with this budget.
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