Can I live on my own if I make $500 per week?

If I find a job where I make $500 per week, is that enough? Or do I need a roommate? I want to live in a nice area. I don't spend a lot. My student loans are not super high because I paid out of pocket some semester. Thanks guys 🙂


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Most Helpful Guy

  • That's about $25k a year. You probably wouldn't have to pay that many taxes. However, living in a nice area may be a bit above your means.

    Make a budget with all of your expected expenses and then you'll know what you can afford. Also, you want to consider whether this job has opportunities for advancement or is likely to be taken away if the stock market goes south. Certainly don't expect to support a kid on this income; for two people that's under the poverty line.

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    • 3mo

      Thanks. Awesome advice. No I don't have any kids yet and I plan to have them when I'm making much more money. lol

    • 3mo

      Good idea haha

Most Helpful Girl

  • Depends on the cost of living where you're planning to live, what type of lifestyle you want, and how you spend money on groceries. You could survive on that, but you may have to make some sacrifices.

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What Guys Said 22

  • You can for a while, but something will go wrong and you won't have enough money to deal with it. You could get sick and HAVE to see a doctor. Your car may need a repair or new tyres. You may get a ticket or have to pay a fine. Something can happen to the place you live in, you need to hire a plumber or electrician, get something in the house fixed or replaced.

    Sometimes bills are way higher than you expect or you forget the credit card bill or some other bill. That's really just the obvious stuff. Life gets us from the last places we expect it too and you need to be financially prepared.

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  • I think you can but it would be a little tight for you.

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  • $500 a week.
    $2,000 a month.
    $14,000 a year.
    The 30% Housing cost rule. If you can find a place that's rent is below $600 , then go ahead.

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    • 3mo

      Your math is a bit off. 2,000 x 12 = 24,000 not 14,000 :)

    • 3mo

      @JetBoy797 Fark you're right. Whoopsies.

    • 3mo

      The 30% rule is for mortgages, where peole are making more money and have more discretionary income. Even there, its too high as shown by the foreclosure rates. 20% is more realistic.

  • Depends on where you live.

    Living on your own in a nice (high-demand) area costs pretty good money.

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  • Is that take home? If so, then it sepend on your local housing market. Your housing should not exceed one weeks pay.

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  • No, you can't
    Let's say your rent is $500 a month
    thats one weeks salary out of the month
    then you have food, which is $500 a month probably.
    then you have phone bill/transportation costs etc, lets say thats $200
    If you have a car gas and insurance =$300 per month
    So 3 weeks of salary just to maintain yourself.

    Not to mention unforseen expenses, you will be scraping by.

    And you have debt...

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    • 3mo

      Ugh I know. That's why I wanted to pay off my student loans before I graduate.

    • 3mo

      Try finding a boyfriend to live with, that way with a combined income $1000 a week, you both will do much better.

    • 3mo

      Yeah definitely.. when the time is right.

  • We need more info. where do you live? Seriously doubt you'll can get a place by yourself in a nice area. You'll likely be living paycheck to paycheck.

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    • 3mo

      Pennsylvania. I do not want to live paycheck to paycheck😐. The girl I'm contemplating being a roommate with makes around $300 a week. Will that still not be enough?

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    • 3mo

      Nope, not having a roommate made things financially tighter but i lived in a single room with a small bathroom. It just would have sucked to share with another dude and seriously doubt a women would have wanted to share that space lol.

    • 3mo

      LOL. Yeah that's true. thanks for your input!

  • Is this after taxes?
    Monthly bills like cell phone/car/utilities if seperate/room/house/apartment per month.
    Check how much that is, then estimate gas, any medical payments, food, clothes, soap n shit.

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  • That depends on where you live and what kind of expenses you have.

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  • It's better to have a roommate, but that will also depends on where you live and how much the rent and food costs are for you.

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  • Not here but maybe in some rural towns out of state

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  • Totally depends on where you live. Many regular sized cities in the USA (population under 500,000) you can easily live on that if you want a normal place to live and a regular or economy car.

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  • It depends on where you live and how much you have in expenses.

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  • Hells yes it's enough

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  • It really depends on your living costs

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  • Depends on where you live

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  • Well.. we can live together and maybe.. perhaps... a miracle will happen 😳😳😳

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    • 3mo

      LOL. I guess we could huh. haha

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    • 3mo

      Yes, so in that case, my plans to move in with completely random guy on the Internet is cancelled. 🤓

    • 3mo

      In that case ill dress in batman costumes everytime i kum outta dat door so u wouldn't see the HAWTS 😃 i could be ur own personal batman If u juz lemme 💂🏼

  • That's plenty

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    • 3mo

      Everyone is saying it's not gonna be enough though. I might just get a roommate then.

    • 3mo

      That's because they are babies

  • That's a decent wage to live off. If you find a roommate obviously you'd be able to spend/save money

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  • Yea sorta, it's going to be hard tho

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  • In Alabama sure, in NYC no way

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  • So $2000 a month so probably

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What Girls Said 4

  • I think it would be easier with a roommate but how do you make so little and have completed college?

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    • 3mo

      No I'm still in college. But I spent a lot of years and money in college so Im hoping & praying I find a job right after I graduate that pays much more.

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    • 3mo

      No I'm living at home with my parents at the moment and nope I'm not a big spender

    • 3mo

      Girl then you have plenty of money don't even worry about it.

  • Hmmmmmm ooooohh I know!! Get a care taker job!!! You don't need a degree

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  • 2 grand a month is actually a pretty decent salary depending on where you live.

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  • depends what state you're living in... in Connecticut no; either have a roommate or get a second job. i make a little over 1600 every two weeks and that's about enough money right there

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