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Old 08-06-2010, 12:28 PM
 
Location: Uptown
1,520 posts, read 2,575,060 times
Reputation: 1236

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Quote:
Originally Posted by Lookout Kid View Post
Yeah, seriously. This means no iPhone with AT&T data plan. I'm shocked at how many entry-level workers I see with each new updated iPhone that comes out. Yet they have no 401K contributions. Just dumb.

mom and dad
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Old 08-06-2010, 12:53 PM
 
Location: Tower Grove East, St. Louis, MO
12,063 posts, read 31,623,677 times
Reputation: 3799
Quote:
Originally Posted by Aleking View Post
mom and dad
That's so true. Two things I've found are often still paid for by parents of the post-college crowd are car insurance and cell phones. Probably because both tend to be family plans.

I'm 25 and I'll admit my mom paid for my cell phone until about 6 months ago (I knew that gravy train would come to an end someday!)
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Old 08-06-2010, 12:56 PM
 
Location: Chicago
3,339 posts, read 5,989,780 times
Reputation: 4242
Quote:
Originally Posted by Lookout Kid View Post
Yeah, seriously. This means no iPhone with AT&T data plan. I'm shocked at how many entry-level workers I see with each new updated iPhone that comes out. Yet they have no 401K contributions. Just dumb.
I totally agree, what a waste of money! Yet, just about all of my friends have an iphone. My husband and I, who make the most money individually by far, spend a total of $70/month on both of our cell phones. Ridiculous...

As for living in Chicago on $25k, it's something I sure wouldn't want to do, but it is possible. My sister lives in Evanston, but she managed to buy a co-op 3 years ago on her $28k salary and has never struggled with money. She even had a new car when she bought her place and had a pretty significant car payment since she was trying to pay it off quickly. She's frugal, but she still goes out and had a pretty good lifestyle from what I can tell. I'm honestly not sure how she's made it look easy because I know there are times when I feel like I still don't have enough $$; that's due to my expensive hobbies though.
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Old 08-06-2010, 01:01 PM
 
19 posts, read 90,899 times
Reputation: 12
Quote:
Originally Posted by Lookout Kid View Post
Yeah, seriously. This means no iPhone with AT&T data plan. I'm shocked at how many entry-level workers I see with each new updated iPhone that comes out. Yet they have no 401K contributions. Just dumb.
i fave a smart phone with verizon unlimited dara, but it pays for itself since i can tether my phone to my computer and not pay for cable or dsl

and anyone with a similar salary care to itemize a monthly budget?
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Old 08-06-2010, 01:38 PM
 
Location: Chicago - Logan Square
3,396 posts, read 7,211,251 times
Reputation: 3731
Quote:
Originally Posted by aragx6 View Post
That's so true. Two things I've found are often still paid for by parents of the post-college crowd are car insurance and cell phones. Probably because both tend to be family plans.
And parents are trying to make it more likely their kid will pick up the phone when they call!
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Old 08-06-2010, 04:46 PM
 
Location: Berwyn, IL
2,418 posts, read 6,255,850 times
Reputation: 1133
Quote:
Originally Posted by celim View Post
i fave a smart phone with verizon unlimited dara, but it pays for itself since i can tether my phone to my computer and not pay for cable or dsl

and anyone with a similar salary care to itemize a monthly budget?
Rent for 1BR in Albany Park: $685

ComEd Electric: $16-$45

Clear Internet: $40

Car Insurance: $73

Life Insurance: $15

Car payment: $150

Gasoline: $180 (but I travel to and from Lake Zurich to Pick up/drop off my son, and occasionally visit my GF in Lockport. Without those two distances, I would drop to $60 a month.)

Cellular Phone: $60

Groceries: $100 (I shop at Aldi and eat PBJ, Ramen noodles, drink tea and water)

So, that's $1348 right there. As you see, that budget doesn't include health insurance or 401K. If you have debt, that'll eat away at your budget to. Obviously, owning a car is a HUGE expense. If I didn't have to have a car payment, car insurance, or gas expenses I'd save $403 a month. That doesn't even factor in the annual cost of paying for city stickers, registration, parking tickets, etc.


So essentially, without a car, you could get by on less than a thousand dollars a month. It would be a basic, basic life without frivolous activities, but you'd be fine. I have recently picked up cycling and I've always had a library card. Those two things have kept me busy. With an internet connection you can use HULU or download stuff if you have to. Since I've lived on my own, I have never had cable.

So, there you have it.
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Old 08-06-2010, 04:50 PM
 
Location: Chicago
15,586 posts, read 27,612,634 times
Reputation: 1761
Quote:
Originally Posted by MannheimMadman View Post
ComEd Electric: $16-$45...
Is this even when running A/C the last two months?
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Old 08-06-2010, 04:54 PM
 
Location: Berwyn, IL
2,418 posts, read 6,255,850 times
Reputation: 1133
Quote:
Originally Posted by Avengerfire View Post
Is this even when running A/C the last two months?

Yes Sir!


My previous winter bills were between $16 and $20 a month.

Now, with the A/C running from 9:30PM -6AM and a box fan and floor standing fan running 4PM -9:30PM, it has jumped to $45.

Keep in mind, the little window unit I have is only 5200 BTU, and it is super efficient.

I can't complain about the price. However, in my old section 8 roach motel apartment in Joliet, the old 1970s window unit cost me $85 a month to run. It was slightly larger but way, way less efficient.
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Old 08-06-2010, 04:57 PM
 
Location: Chicago
15,586 posts, read 27,612,634 times
Reputation: 1761
Quote:
Originally Posted by MannheimMadman View Post
...Now, with the A/C running from 9:30PM -6AM and a box fan and floor standing fan running 4PM -9:30PM, it has jumped to $45...
I turned my A/C off today (for more than just a deicing or reset) for the first time in several weeks. Maybe I will try your method for a bit.
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Old 08-06-2010, 05:54 PM
 
Location: Chicago - Logan Square
3,396 posts, read 7,211,251 times
Reputation: 3731
Quote:
Originally Posted by MannheimMadman View Post
So essentially, without a car, you could get by on less than a thousand dollars a month. It would be a basic, basic life without frivolous activities, but you'd be fine.
It is do-able, I lived in a very similar way for over a decade, but it can be really stressful.

Unplanned things like a trip to the dentist or doctor can completely screw everything up and set you way back for months (or years). Plus there can be things like buying clothes, household appliances, new glasses/contacts, traveling for holidays/weddings, that fall somewhere just below "essential" spending, but they can really add up.

It is always good to plan to have some extra cash left over at the end of every month - you'll go through it.
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