Andrew2006 wrote:Not yet, and yes I do live in a area where it's a low cost to live.
At $1300 a month, you net (I am assuming you are netting 1300) $15,600/year. Houston TX has one of the cheapest COL's in the US as of 4Q'05. (I know, who knew!) Just a little tidbit there....anyway....
Say you an pay incredibally cheap rent of $500/ month. Add in $100 for basic utilities (H2O, electircity, gas, trash pickup).
That puts you at $600, leaving you $700 for everything else.
Do you own a car? Figure gas at $20-$40 a week, depending on where you drive. We'll go with $30/ week to go easy on you ($120). That puts you at $720 leaving you $580. Do you make a car payment? Add that on if you do. And if so, you are pretty close to not making it already.
Do you want groceries? Figure at least $200 a month for groceries ($50 a week is extremely modest for 2 grownups and a baby--this includes househould items such as cleaners, toilet paper, tissues...) Plue the $40 a week for formula ($120). That takes us to $1040 month leaving you $260.
Diapers run about $15 for 30 and you'll use 7-8 a day so figure $60 a month for diapers. So now we are at $1100 with $200 left.
Do you want cable? Internet? Phone? Tack on about $125 for those. (maybe a few bucks less) That leaves you with $75.
Plus, don't forget wipes, teethers, clothes, bedding, shoes, rash ointment...all those fun baby items.
And that is not including anything for you or your gf. No extras. That is assuming no car payment, no credit cards, no student loans to pay. That is assuming that you basically have no debt at all and could live pay check to pay check like that.
I am sure i am forgetting something but as you can see, $1300 doesn't go far.