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Forum
-> Household Management
-> Finances
imasinger
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Wed, Jan 18 2012, 2:51 pm
I hope the title is self-explanatory. If you or your children are newlyweds living in Lakewood, how much does one need to live on? How much is rent? Food? Car insurance? Other incidentals I may not be thinking of?
I've been hearing figures all over the map, and am trying to decipher what is real.
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amother
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Wed, Jan 18 2012, 4:38 pm
My father gave $1500/month. Our rent was $850. I still needed to work to cover our monthly budget but I wasn't stressed out to find a high paying job.
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sky
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Wed, Jan 18 2012, 4:38 pm
don't forget health insuranace - its expensive.
For rent - it can be all over the map.
Would you rather a basement or apartment. Washer and dryer in the apartment or just in the building. Number of bedrooms. Within walking distance to yeshiva or the other side of town. If its a basement then within a development or in a stand alone house. There are different price ranges between the options so that is maybe why your numbers are all over the map.
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Faigy86
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Wed, Jan 18 2012, 4:49 pm
I'll try for bare bones ball-park estimates:
rent+utilities - 8-9, but that is assuming most probably a development, which means that one car is a stretch - not impossible, and you can find closer to the center for around that price also.
food + household expenses - being careful and budgeting, 3-400 can work, but that is probably a low end estimate.
car insurance - depending on the model of the car and how old the drivers are and what sort of record they have - 6-700 anually could work.
health insurance - are they getting through their parents? if they need their own plan count another 5-700 a month.
What else am I forgetting?
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faigyl
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Wed, Jan 18 2012, 4:52 pm
There's no way you can get by with $300-$400 month on food, gas, and the little things that will ALWAYS crop up. It costs me $50 alone for each Shabbos- even when I'm trying to be cheap.
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Faigy86
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Wed, Jan 18 2012, 4:55 pm
faigyl wrote: | There's no way you can get by with $300-$400 month on food, gas, and the little things that will ALWAYS crop up. It costs me $50 alone for each Shabbos- even when I'm trying to be cheap. |
you are right - I forgot about gas. that is another big expense. I definitely don't spend 50 on shabbos though. gas would be another 50-75 a month near to the center without a big commute, I don't know the numbers for further out or if someone is commuting.
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chocolate chips
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Wed, Jan 18 2012, 5:06 pm
amother wrote: | My father gave $1500/month. Our rent was $850. I still needed to work to cover our monthly budget but I wasn't stressed out to find a high paying job. |
WOW! I shouldn't really live in BP.
When I was newly wed we paid $900 for a tiny 1 bedroom inc. utilities. Our weekly foods and other stuff (shampoo, tissues etc) was $50-$100. We didn't have a car. We both had to work to cover expenses (me f/t and dh p/t)
Now $1500 is not even our rent!!!! (3bdrm) we still utilities, expenses (+baby stuff) we still don't have a car and I don't work.
Our friends in lakewood told us for what we pay for our apartment here in BP, we could have a 5bdrm house in Lakewood
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lkwdmommy
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Wed, Jan 18 2012, 5:11 pm
These days rent is way down. You can find a decent apt. close to center of Lkwd for under 800; even cheaper if you go way out.
To add to the budget, if your family lives in NY, add about $50/trip each time you go in for Shabbos or a Simcha.
Utilities, cell phone?
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amother
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Wed, Jan 18 2012, 5:48 pm
lkwdmommy wrote: | These days rent is way down. You can find a decent apt. close to center of Lkwd for under 800; even cheaper if you go way out.
To add to the budget, if your family lives in NY, add about $50/trip each time you go in for Shabbos or a Simcha.
Utilities, cell phone? |
That's true. $850 was when I got married 4 years ago for a 3 bedroom basement apartment. Today I live in a 5 bedroom townhouse that goes for $1400/month. Utilities not included in either.
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small bean
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Wed, Jan 18 2012, 8:10 pm
I say around $2000 total a month...
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Fabulous
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Wed, Jan 18 2012, 8:12 pm
small bean wrote: | I say around $2000 total a month... |
sounds about right. For bare bones and with NO health insurance.
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Tova
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Wed, Jan 18 2012, 8:19 pm
Re: health insurance - note that under the new healthcare act, you can be covered UP TO AGE 26 under your parents' policies, even if married. This can be HUGE for NJ priced insurance.
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Tova
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Wed, Jan 18 2012, 8:21 pm
And wow have rents gone down. When I got married in 2001 we paid $700/month for a one bedroom basement apartment (14th street area, not too far from yeshiva - we managed on one car and my husband walked to yeshiva). There was a huge supply-demand issue then, as less couples were going to E"Y due to the situation at that time, and all apartment openings had large waiting lists.
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mom2be1
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Wed, Jan 18 2012, 9:19 pm
I would say 2500 bec were paying 1000 for rent. Remeber its also possible to be eligible for programs-WIC, Jersey Care, Heap, HUD...
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Faigy86
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Thu, Jan 19 2012, 9:59 am
I just looked at my real numbers, and we are very careful - I would say 1800 is the barest bare bones (almost no extras - ie, I do my own sheitels etc. but I do pay a bit more in rent) and that isn't including health insurance.
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