How Much Does It Cost to Move?
THIS IS A REPEAT OF ONE OF OUR MOST POPULAR POSTS.
Here are some rough guidelines you can use when you start planning the move to your first apartment.
Monthly Rent = annual salary divided by 40
Security Deposit = one month’s rent
Furniture = one to two months’ rent
Starter Equipment = $250-$500 (Check Amazon for great prices on top brands.)
Starter Pantry & Staples $75-$100
Example @$40,000 starting salary:
First Month’s Rent $1,000
Security Deposit $1,000
Furniture $1,500
Starter Equipment $ 375
Starter Pantry & Staples $ 85
Total Initial Cash $3,960
Example @$30,000 starting salary:
First Month’s Rent $750
Security Deposit $750
Furniture $1,125
Starter Equipment $ 375
Starter Pantry & Staples $ 85
Total Initial Cash $3,085
Example @$20,000 starting salary:
First Month’s Rent $500
Security Deposit $500
Furniture $500
Starter Equipment $ 250
Starter Pantry & Staples $ 75
Total Initial Cash $1,825
Tags: budgeting, cost to move
[...] between 2008 and the end of 2011 get a one-time payout of $1,500 to $2,000, which for many will barely cover the cost of moving. One helpful proviso, however: Those who receive payouts don't forego the right to sue, as [...]
I am 26yrs old & Im bout to move from Wilmington, DE to Phoenix, AZ & I am alittle scared.
Im leaving the 1st week of December and I will have alil over $800: that includes gas, hotels (3 hotels til I get to Phoenix) & alil emergency $$ on the side. I have already found an weekly rental apartment there and I have also mapped out my routes during my extended road trip. I am excited and scared all at the same time. I guess it doesnt matter how old you get, there will always be alil anxiety.
Here is the deal… In your moving cost you have to incorporate a cost of move itself, which you can easily calculate by getting Free moving quotes from moving companies. It is actually a very good step in your moving process if you don't want to be ripped off by unscrupuleous movers…
Hi,
I know this post is a little old, but I just stumbled through looking for something else. I'm 27, about to move into my own apartment. I have been living with my mother for about 5 years out of college, and felt it was time for me to go.
My new rent is $950 a HUGE jump from how much I was paying before. I never paid utilities , but now I have to budget it in. I've had second thoughts, after second thoughts, after second thoughts….and still have them. However, I've come to learn that it's natural, and sooner or later they will disappear or not be as loud. If not, luckily it's only a one year lease.
Huge help is mint.com…a great service that keeps track of your budget. Some don't like to know what they're spending thier money on, but it's a great help, and it's free!
Hope this helps,
M
That is a tough one. Can you boost your income with a second job? Or maybe you can find a situation where you do some work for the landlord/landlady, in return for a break in rent. Or find a room with an elderly person who needs help with shopping and housekeeping. For someone older than 18, apartment sitting could also be a temporary option, but probably not for an 18-year old. Also, check out if your income level entitles you to some rent help from social services. Good luck.
Wait, what if you HAVE to move out by the time you’re 18 and you only make $7800 after taxes? There is no way the rent will be divided by 40 of the salary and still work because no place here is under $425 and even that needs $17,000 salary. What do you do then? That’s only divided by 18 instead of 40. Any help or tips? Oh yeah, also I have my own furniture for my bedroom and office that I can keep with me.
im planning on making a move from northern FL to southern ME
im 18 and i plan to move out about this time next year
how much money should i have saved up? before i move
including costs such as truck rentals etc. also what is the best (finacially) way to move?
the apartment im looking at has a rate of 640 a month
Hi, I’m getting my first Apartment ever and been saving for acopple months now I live in Canada Ontario and I’m kinda nervious I was wondering if someone could help me out with the average cost of living. Rent here is about 500 to 700 Hundred a month everything incl, but how much do you normaly on a average cost of
-Food
-entertaniment
-Phone
-clothing
-emergency
How Much would this normaly come up to a month is someone HELP me on this or give some advise that would be GREAT. thanks so much you can email me too at
x.o.x-Crystal-x.o.x@hotmail.com
thanks again
Hi Princess Scooby,
I’m assuming that you’re working and making enough money so that realistically you could live on your own. Put that to a test while still living at home. Use the system of envelopes suggested by the Anonymous above and pretend you have all the expenses you would have if you lived in your own apartment. If after two to three months it looks like you will be able to cover all the costs and still have a few dollars left over for fun, you are ready to start looking for a place. The money saved in those envelopes will cover your security deposit, first month’s rent and moving costs. Good luck!
Hi
I’m 18 and seriously considering moving out on my own but before I make the move, since I’ve been told if I leave I can’t come back, I’d really like to get some advice someone who has been in a similar situation so please if you’ve been in the type of situation and are willing to offer some advice, email me at princess_scooby_ashley@yahoo.com
I rented my first apartment when I was 18, literally the first one of my buddies who had their own place. The learning experience was tremendous, just trying to survive actually, and I came up with some novel ways to do things. One of the most difficult things for me to do was handling my paycheck week to week and at the end of the month I always seemed to come up short.
The solution came one Saturday as I was watching this local TV show called Bozo the Clown. Bozo took some nesting blocks, and as I sat there eating my Frosted Flakes, he told the kids to put pennies in the smallest block, nickels in the next size, dimes in the next one, and quarters in the biggest box. They would be all separated and you would always know where your money was.
That was an epiphany. I ran to the desk and took out some regular business envelopes, then I labeled them with all my bill names. Phone, Electric, Gas, Rent, Emergency. Then I calculated how much of each paycheck I would need to put in these envelopes to make a payment every month ON TIME.
I began feeding these envelopes at every payday, placing the money needed inside, then putting the envelops inside a locked box, for total safety. At the end of the month, I would write out the checks for my bills, deposit the money in my checking account, balance it out, and I was done!
Oh, and, by the way. At the end of every month, I would use any unused emergency fund money to treat myself to a night out with my girl, or to buy a new video game.
These formulas apply to apartments in large cities in the United States.
Here’s another quick monthly budgeting rule of thumb for those living in small cities with cheaper rents:
1 week’s take-home pay for rent
1 week’s for fixed expenses (commuting, electric, phone)and food
1 week’s for discretionary expenses (clothing, entertainment, travel)
1 week’s for savings
Hi
Great blog.
Can you tel me if this math will stay the same in other cities? like London? Tokyo?
is good for homes? like Prague? Moscow? or for Israel Real estate??