Pow 8: On Your Own: Personal Experience

Factoring in the additional expected maintenance, insurance, and taxes to the monthly payment, the total monthly payment is $3474, slightly under $3600 rental payment. That said, a slightly lower monthly payment is the only positive aspect of purchasing instead of continuing to rent.

let us consider what the total cost of living and attending a four year private

Whether a student is looking to stay in-state or move out, the cost is still very high. According to College Board, expenses, on average, to attend a 4-year university add up to around $9,000 a year for in-state residents. Triple this amount and non-residents must pay that. Private school expenses tend to add up to around $35,000 a year (College Costs). During the 1995-1996 academic years, 66% of four year students in public institutions received some form of financial aid (Losco). Although the financial aid sounds like a good plan at the time, it causes the ones who take aid to being their adulthood in a large amount of debt. Even though there are a number of scholarships and financial aid programs available, each student must qualify and meet certain requirements that are not always met.

$400 on the low end to more than $1,000 a year.1 Food and care is a lot of money a

By getting a house instead of living in Powhatan, I would actually save money.In living in Powhatan the annual rate per year is $6,124 an additinal $800 a year for the block 25 meal plan that is required.For grand total of $7,000 for an entire year of housing expense. In comparison living in the house I calculated average annual cost of $5,865 with utilities included an furthermore an additional $300 for food at costco,For annual total of $6,165 a year. This is a $835 savings a year if i were to live in the house.

The auto insurance will cost me $64.52 a month or $774.24.00 a year and the renters insurance

The renting of homes in this city is fairly affordable with an average rent of $771. Notwithstanding whether it is a rented home or owned, the average living expense remains 25.66%. The crime rate of Syracuse is quite high just like the other cities we have been talking about, ranked as the 8th city with the highest crime rate.

Second, you should calculate what you spend your money on every month, but this should only consist of your priorities. Yes, this means you have to tell yourself no about candy and etc. So, you would take that total and subtract

that for later, but what about the rent. That will just have to wait, I don’t care about that I need to

One reason I enjoy living in my apartment is that despite the cheap rent, the facilities are kind of good. There are two bedrooms, a living room, a kitchen and a bathroom in the apartment. The cost of my apartment is $1,200 per month. Four girls share the apartment, so each of us pays $300

This difference of $1,848 is primarily due to the difference between the Medical and Other categories. Table 3.1 and Table 4.1 shows the budget plan proposed by each source. However, what both of these sources fail to consider is the average housing cost within the city. Upon further evaluation of methodology that each source implemented, I discovered that they considered the Fair Market Rent (FMR), set by the Department of Housing and Urban Development (HUD). Essentially, the FMR is a baseline amount used to determine assistance to many government housing assistance, effectively designed for low-income families [3]. Thus, FMR is not a realistic amount to be considered for a middle class family. A better representation of rental prices that a potential newcomer might see listed, would be approximately $1,778 per month, $21,336 annually. Table 3.2 and Table 4.2 reflect the updated values. Overall, after adjusting our housing cost, the total required annual income after taxes is approximately between $76,775 and $79,763 in 2016. Adjusting for inflation, in 2017 these values would be $78,489.36 and $81,544.08 respectively.

Over the past month, we were given out an assignment to create a budget plan for a given possible situation in our future. We had a gross yearly income of $43000 (or a monthly one of $3583.33) and were given a series of categories that we would have to budget the expenses for. After finishing the project, we had to answer a series of questions reflecting on our experiences and learning. I thoroughly enjoyed this project, and found it genuinely eye-opening.

On average, residents in 85m apartments pay around 200€ per month on utilities, which include electricity, heat, water, and garbage service. A typical 6 mbps Internet connection with unlimited data costs around 21€ per month.

My housing situation is very simple because I am only accommodating for myself. I plan on living and working in Lakeland for at least the first year after I graduate from college, this will allow me to decide if I want to live permanently in Lakeland or move to a different city. Therefore, I will be renting a two bedroom apartment; with two bedroom I can either have guests or I can later decided to get a

from 2002-2008 was $42,754 (during the period I thought my PSU advisor paid for my monthly allowance),