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future_mommy 07-14-2008 11:39 PM

Im 18 and just trying to figure out some prices of things. I want to adopt after college, I guess around the age of 25. I need some resonable prices for bills, living in an apartment. The apartment im looking at is $540-$630. 1 bed 1 bath. I guess the range is because they said they offer furnished apartments.

AuntNi 07-14-2008 11:58 PM

Hi there! I think everyone's percentages are different. But I just read a couple of statistics today: your rent/mortgage should be no more than 30% of your take-home, and your car shouldn't be more than 10%.

Can I recommend a couple of really good books? Personal Finance For Dummies by Eric Tyson (don't be put off by the "Dummies" title - it's such a good book!) and Debt Proof Living by Mary Hunt. They both should be available at the library, and I found them both really helpful.

SuzyLee 07-15-2008 10:16 AM

It really really depends on the area of the country and the cost of living. For example, in minnesota we have no AC in our house but our heating bills are crazy in the winter, and in FL you have the opposite.

With the way gas prices are going, I don't think there is any way to predict what your bills might be 7 years from now. I think the best course of action would be to live frugally and save as much as you can now.

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