View Single Post
Old 2019-02-02, 02:16   #1
jvang's Avatar
Nov 2015
Middle of Nowhere,AR

22×3×37 Posts
Default An Attempt at Financial Responsibility

My parents wanted me to do a practice budget for a typical month. I decided to determine how much money I'd spend in a month while at college.
  • Gas - Probably $10-20 depending on how much I'd ride around. I don't think public transportation is very big in Fayetteville, and at best there may be Uber service that I wouldn't normally need.
  • Food - No more than $50 per month, since food is covered in the cafeterias for free. This would only be for going out to eat with friends or something.
  • Phone bill - ~$50 per month, unless I can find a better deal (which would be nice!)
  • Medicines/prescriptions - I don't order this stuff too often, but $25 per month would be a good estimate for if I needed something like that.
  • Life insurance - $12 per month. I don't really get why I need this, other than to cover whatever expenses would come up if I were to die. No dependents or anything...
  • Auto insurance - It'll probably come out to $20-25 per month for a small motorcycle, which would be all I need.
So about $75 per month is recurring (and semi-necessary) costs, the other $100 isn't necessary cost. Now if I am not at school, the cost per month is about $1400 for everything, with food ($300), rent ($700 avg in Little Rock, 1 bedroom apt), and utilities (~$125) being the major additional costs. I could split the apartment and part of the food costs with a roommate or something, but otherwise it costs a lot to live in a mid-sized city with job opportunities.

Is there anything that I missed that would be significant? And maybe you feel like sharing your monthly costs to compare
jvang is offline   Reply With Quote