NEW HERE? LEARN MORE
closeclose
Last visit was: 24 Apr 2024, 02:37 It is currently 24 Apr 2024, 02:37
Decision Tracker
My Rewards
New posts
New comers' posts

Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

What's your monthly budget for everything?

SORT BY:
Date
Kudos
 1   2   3   

How much?

You may select 1 option
View results
User avatar
rhyme
GMAT Club Legend
GMAT Club Legend
Joined: 05 Apr 2006
Affiliations: HHonors Diamond, BGS Honor Society
Posts: 5916
Own Kudos [?]: 3083 [0]
Given Kudos: 7
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Products)
Send PM
What's your monthly budget for everything? [#permalink] New post   02 May 2007, 12:03
Everything ... excluding tuition of course...

Rent:
Internet:
Electricity:
Cell Phones:
Renters Insurance:
Car Insurance:
Food:
Entertainment:
Dry Cleaning:
Public Transport:
Heating:
Gas:
Land Line Phone:
Dining Out:

For instance... my numbers are looking painful...

Number of people: 2
Rent/PITI : $2300 <--- I cant find anything cheaper that would take my dog, is near public transport (we have one car)...
Internet : $30
Electricity : $70
Cell Phones : $140 (for two people.. looking to find cheaper plans)
Owners/Renters Insurance: $50
Car Insurance: $100 (roughly)
Food: $600 (may be a bit high)
Entertainment: $200 ($50 a weekend seems plausible.... even low)
Dry Cleaning: $50
Public Transport: $60
Heating: $30
Gas for car: $100
Land Line Phone: $0
Dining Out: $100 (one nice meal a month)

~ $4,000 month for 2 people.
User avatar
B
pelihu
SVP
SVP
Joined: 31 Jul 2006
Posts: 2209
Own Kudos [?]: 520 [0]
Given Kudos: 0
Schools:Darden
 Q50  V51
Send PM
[#permalink] New post   02 May 2007, 12:17
Ok, I'll play. You forgot a big one for some people, car payment. You also forgot health insurance, which you now have to pay for. Another big one for some people might be debt service (credit card bills and such).

Rent: $600
Internet: included
Electricity: $50
Cell Phones: $80
Renters Insurance: $20?
Car Insurance: $60
Food: $300 (not including wine, but I hear you eat for free a lot too, so maybe lower)
Entertainment: $500
Dry Cleaning: $50
Public Transport: $0
Heating: included
Gas: included
Land Line Phone: $0
Dining Out: included in food/entertainment
Car Payment: $0
Health Insurance: $200

Total: $1860

My entire budget will be less than your rent! Funny thing is, I actually found apartments I'd be happy in for $350-450 (I'm not too picky). It's really cheap around there. I'm not bringing my dogs so that will be a complication if I bring them next year. I guess I should include some amount for bribing my parents to take care of my dogs for the year.
User avatar
rhyme
GMAT Club Legend
GMAT Club Legend
Joined: 05 Apr 2006
Affiliations: HHonors Diamond, BGS Honor Society
Posts: 5916
Own Kudos [?]: 3083 [0]
Given Kudos: 7
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Products)
Send PM
[#permalink] New post   02 May 2007, 12:37
$600 a month rent? Wow.

$300 a month rents me a parking spot here.
User avatar
dabots
Director
Director
Joined: 18 Sep 2006
Posts: 955
Own Kudos [?]: 34 [0]
Given Kudos: 0
Location: Chicago, IL
Schools:Chicago Booth 2010
Send PM
[#permalink] New post   02 May 2007, 13:51
$500 a month for entertainment at darden? i guess it's expensive driving in and out of charlottesville.
User avatar
darren1010
Manager
Manager
Joined: 06 Feb 2006
Posts: 219
Own Kudos [?]: 5 [0]
Given Kudos: 0
Send PM
[#permalink] New post   02 May 2007, 15:04
Yes, I didn't see many entertainment places there at Darden. Maybe pelihu has some expensive types of entertainment? :lol: :roll:
I entertain by sleeping and surfing internet, so I estimate my budget around 1400 per month

This is my estimate:
move in, buy a moderate car: 15. 000

Monthly:
Rent: 750 for everything
Food: 200 (I don't eat much)
Gas: 100(I wont go out much)
Others: 350
9 months: 12.600. Let's assume it's 14000.

2.5 months on Summer I will go to work, so I hope I can cover the cost.

Tickets back to Vietnam on winterbreak: 1200
International Lead Trip: 4000

Roughly, I will have to spend 20.000 for living expense for 1 year or 40.000 for 2 years.
Tuition, fee and Health insurance for 2 years: 20.000

Total debt after school: 75.000

Man, that's a lot :shock: :shock: . Maybe I should look for a rich and beautiful wife in Atlanta.
User avatar
rhyme
GMAT Club Legend
GMAT Club Legend
Joined: 05 Apr 2006
Affiliations: HHonors Diamond, BGS Honor Society
Posts: 5916
Own Kudos [?]: 3083 [0]
Given Kudos: 7
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Products)
Send PM
[#permalink] New post   02 May 2007, 15:21
Who else voted $3500 to $4000 ?
User avatar
B
pelihu
SVP
SVP
Joined: 31 Jul 2006
Posts: 2209
Own Kudos [?]: 520 [0]
Given Kudos: 0
Schools:Darden
 Q50  V51
Send PM
[#permalink] New post   02 May 2007, 16:29
Hehe. I included dining out, which for me includes wine, in my entertainment estimate. I could blow through $500 easily, but I'm going to try to take it easy while I'm at school.

That and all the hookers of course. :lol:
User avatar
rhyme
GMAT Club Legend
GMAT Club Legend
Joined: 05 Apr 2006
Affiliations: HHonors Diamond, BGS Honor Society
Posts: 5916
Own Kudos [?]: 3083 [0]
Given Kudos: 7
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Products)
Send PM
[#permalink] New post   02 May 2007, 17:05
pelihu wrote:
Hehe. I included dining out, which for me includes wine, in my entertainment estimate. I could blow through $500 easily, but I'm going to try to take it easy while I'm at school.

That and all the hookers of course. :lol:


$500 is reasonable.... I usually spend between twice and three times that amount per month - thats dining out, ordering in, wine, beer, etc.

That said.... I've scaled back a lot already -- I'm down to maybe $100 a week and trying to grow accustomed to $50 if I can do it.
User avatar
dukes
Director
Director
Joined: 07 Aug 2006
Posts: 572
Own Kudos [?]: 8 [0]
Given Kudos: 0
Send PM
[#permalink] New post   02 May 2007, 17:45
rhyme wrote:
pelihu wrote:
Hehe. I included dining out, which for me includes wine, in my entertainment estimate. I could blow through $500 easily, but I'm going to try to take it easy while I'm at school.

That and all the hookers of course. :lol:


$500 is reasonable.... I usually spend between twice and three times that amount per month - thats dining out, ordering in, wine, beer, etc.

That said.... I've scaled back a lot already -- I'm down to maybe $100 a week and trying to grow accustomed to $50 if I can do it.

I budgeted a bunch for entertainment. My weekend trips to Bali and Thailand are going set me back quite a bit. 8-)
User avatar
B
GMATT73
CEO
CEO
Joined: 29 Jan 2005
Posts: 2887
Own Kudos [?]: 1117 [0]
Given Kudos: 0
Send PM
[#permalink] New post   Updated on: 02 May 2007, 21:32
You guys really left out quite a bit. Here's my conservative estimate:

Rent: $1100 (2bdrm/2bath)
Food: $400 (at least it's good home made Chinese)
Health Insurance: $120 (dirt cheap UW family plan)
Cell Phone (x2): $100
Utilities, including cable and BB: $120 (considerably more after the baby arrives in late '08 or early '09)
Wife's hair/skin care products: $200
Entertainment: $300 (Easily double this figure if you enjoy eating out, triple it if you are a moderate to heavy drinker)
Used books, WSJ/Business Week subscriptions and Misc. computer software: $100
Dry Cleaning: $50 (we use the washing machine for shirts)
Dental cleaning (not covered by insurance): $50 ($100 p/every four months x 2)
Haircut: $60 (she cuts my hair for free)
Training Supplements (Protein powder): $25
STARBUCKS: $100
One annual road trip ($1200 p/yr): ~$120
One flight overseas to visit in-laws ($3600 p/2yrs): ~$150
Fuel: $100 (Trading the Tahoe in for a four banger Honda)
Car Insurance: $80
Parking: $50
Maintenance and licensing: $50
Downtown parking (three times a month): $50
Public Tranportation: $10 (discounted UPASS rate, yeeehaaa!)

Realistic total monthly expense estimate: $3335

Roughly 75% of our current budget in Osaka.

Originally posted by GMATT73 on 02 May 2007, 21:06.
Last edited by GMATT73 on 02 May 2007, 21:32, edited 1 time in total.
User avatar
B
GMATT73
CEO
CEO
Joined: 29 Jan 2005
Posts: 2887
Own Kudos [?]: 1117 [0]
Given Kudos: 0
Send PM
[#permalink] New post   02 May 2007, 21:21
rhyme wrote:
$600 a month rent? Wow.

$300 a month rents me a parking spot here.


Back in the 90s I actually knew a really skinny surfer guy who lived out of his van while attending undergrad (all four years). He showered and used the public bathrooms on the beach to keep his monthly expenses under $250.
User avatar
B
pelihu
SVP
SVP
Joined: 31 Jul 2006
Posts: 2209
Own Kudos [?]: 520 [0]
Given Kudos: 0
Schools:Darden
 Q50  V51
Send PM
[#permalink] New post   02 May 2007, 22:45
Thank god I only have to budget for one person. I'm also glad I don't have any inlaws to visit overseas. One of the benefits of running my own business the last few years is that I've got plenty of miles saved up for flying back to the west coast.

But expenses like those are not really requirements for school. You could cut them out if you had to.
User avatar
3underscore
Current Student
Joined: 11 Dec 2006
Posts: 1428
Own Kudos [?]: 233 [0]
Given Kudos: 6
Location: New York, NY
Concentration: Finance (Corp Fin, Financial Instruments)
Schools:NYU Stern 2009
Send PM
[#permalink] New post   03 May 2007, 01:15
woah rhyme. I think my rent will be less than yours in NYC!

I really, really don't have a clue on the numbers yet. Looking to rent at $1600-$2000 (1 bed for the two of us).

Beyond that - no idea. Depends on the job she gets a bit, and what all happens. A few of those numbers look fair though.

I love how Matt's wife's skin and hair products are the fourth highest thing on the budget, above health insurance!
User avatar
sm176811
VP
VP
Joined: 29 Apr 2003
Posts: 1041
Own Kudos [?]: 83 [0]
Given Kudos: 0
Send PM
[#permalink] New post   03 May 2007, 01:21
dukes wrote:
rhyme wrote:
pelihu wrote:
Hehe. I included dining out, which for me includes wine, in my entertainment estimate. I could blow through $500 easily, but I'm going to try to take it easy while I'm at school.

That and all the hookers of course. :lol:


$500 is reasonable.... I usually spend between twice and three times that amount per month - thats dining out, ordering in, wine, beer, etc.

That said.... I've scaled back a lot already -- I'm down to maybe $100 a week and trying to grow accustomed to $50 if I can do it.

I budgeted a bunch for entertainment. My weekend trips to Bali and Thailand are going set me back quite a bit. 8-)



Which campus or INSEAD r u planning 2 join?
User avatar
sm176811
VP
VP
Joined: 29 Apr 2003
Posts: 1041
Own Kudos [?]: 83 [0]
Given Kudos: 0
Send PM
Re: Wahts your monthly budget for everything? [#permalink] New post   03 May 2007, 01:24
rhyme wrote:
Everything ... excluding tuition of course...

Rent:
Internet:
Electricity:
Cell Phones:
Renters Insurance:
Car Insurance:
Food:
Entertainment:
Dry Cleaning:
Public Transport:
Heating:
Gas:
Land Line Phone:
Dining Out:

For instance... my numbers are looking painful...

Number of people: 2
Rent/PITI : $2300 <--- I cant find anything cheaper that would take my dog, is near public transport (we have one car)...
Internet : $30
Electricity : $70
Cell Phones : $140 (for two people.. looking to find cheaper plans)
Owners/Renters Insurance: $50
Car Insurance: $100 (roughly)
Food: $600 (may be a bit high)
Entertainment: $200 ($50 a weekend seems plausible.... even low)
Dry Cleaning: $50
Public Transport: $60
Heating: $30
Gas for car: $100
Land Line Phone: $0
Dining Out: $100 (one nice meal a month)

~ $4,000 month for 2 people.


Does it make sense 2 buy an apt if u are paying so much rent? Thots?
User avatar
B
GMATT73
CEO
CEO
Joined: 29 Jan 2005
Posts: 2887
Own Kudos [?]: 1117 [0]
Given Kudos: 0
Send PM
[#permalink] New post   03 May 2007, 05:20
This is what $475 p/month gets you an hour outside of Seattle these days.
Attachments

VhX5rH9Th1NrFjCTDmmOSVfjC1BG.jpg
VhX5rH9Th1NrFjCTDmmOSVfjC1BG.jpg [ 12.36 KiB | Viewed 6161 times ]

User avatar
dukes
Director
Director
Joined: 07 Aug 2006
Posts: 572
Own Kudos [?]: 8 [0]
Given Kudos: 0
Send PM
[#permalink] New post   03 May 2007, 05:20
sm176811 wrote:
dukes wrote:
rhyme wrote:
pelihu wrote:
Hehe. I included dining out, which for me includes wine, in my entertainment estimate. I could blow through $500 easily, but I'm going to try to take it easy while I'm at school.

That and all the hookers of course. :lol:


$500 is reasonable.... I usually spend between twice and three times that amount per month - thats dining out, ordering in, wine, beer, etc.

That said.... I've scaled back a lot already -- I'm down to maybe $100 a week and trying to grow accustomed to $50 if I can do it.

I budgeted a bunch for entertainment. My weekend trips to Bali and Thailand are going set me back quite a bit. 8-)



Which campus or INSEAD r u planning 2 join?

Fonty, but I'm guessing that I'll spend at least one (if not two) terms in Singapore.
User avatar
rhyme
GMAT Club Legend
GMAT Club Legend
Joined: 05 Apr 2006
Affiliations: HHonors Diamond, BGS Honor Society
Posts: 5916
Own Kudos [?]: 3083 [0]
Given Kudos: 7
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
WE:Business Development (Consumer Products)
Send PM
Re: Wahts your monthly budget for everything? [#permalink] New post   03 May 2007, 06:27
sm176811 wrote:
rhyme wrote:
Everything ... excluding tuition of course...

Rent:
Internet:
Electricity:
Cell Phones:
Renters Insurance:
Car Insurance:
Food:
Entertainment:
Dry Cleaning:
Public Transport:
Heating:
Gas:
Land Line Phone:
Dining Out:

For instance... my numbers are looking painful...

Number of people: 2
Rent/PITI : $2300 <--- I cant find anything cheaper that would take my dog, is near public transport (we have one car)...
Internet : $30
Electricity : $70
Cell Phones : $140 (for two people.. looking to find cheaper plans)
Owners/Renters Insurance: $50
Car Insurance: $100 (roughly)
Food: $600 (may be a bit high)
Entertainment: $200 ($50 a weekend seems plausible.... even low)
Dry Cleaning: $50
Public Transport: $60
Heating: $30
Gas for car: $100
Land Line Phone: $0
Dining Out: $100 (one nice meal a month)

~ $4,000 month for 2 people.


Does it make sense 2 buy an apt if u are paying so much rent? Thots?


I am buying actually. Rent would have been more like $2600 to $2700. That $2300 is a purchase payment price.
User avatar
B
GMATT73
CEO
CEO
Joined: 29 Jan 2005
Posts: 2887
Own Kudos [?]: 1117 [0]
Given Kudos: 0
Send PM
Re: Wahts your monthly budget for everything? [#permalink] New post   03 May 2007, 06:30
rhyme wrote:
sm176811 wrote:
rhyme wrote:
Everything ... excluding tuition of course...

Rent:
Internet:
Electricity:
Cell Phones:
Renters Insurance:
Car Insurance:
Food:
Entertainment:
Dry Cleaning:
Public Transport:
Heating:
Gas:
Land Line Phone:
Dining Out:

For instance... my numbers are looking painful...

Number of people: 2
Rent/PITI : $2300 <--- I cant find anything cheaper that would take my dog, is near public transport (we have one car)...
Internet : $30
Electricity : $70
Cell Phones : $140 (for two people.. looking to find cheaper plans)
Owners/Renters Insurance: $50
Car Insurance: $100 (roughly)
Food: $600 (may be a bit high)
Entertainment: $200 ($50 a weekend seems plausible.... even low)
Dry Cleaning: $50
Public Transport: $60
Heating: $30
Gas for car: $100
Land Line Phone: $0
Dining Out: $100 (one nice meal a month)

~ $4,000 month for 2 people.


Does it make sense 2 buy an apt if u are paying so much rent? Thots?


I am buying actually. Rent would have been more like $2600 to $2700. That $2300 is a purchase payment price.


How many square feet?
User avatar
squali83
Current Student
Joined: 04 Dec 2006
Posts: 440
Own Kudos [?]: 24 [0]
Given Kudos: 0
Send PM
[#permalink] New post   03 May 2007, 06:36
If that is a house then not too bad, if you wanted a house around U of MD, the monthly rent was between 3500/5000. It is horrible how supply and demand works in college town where students are on a measly fixed income... thank God H-town real estate is MUCH more affordable rent is about $1/sq ft. and 2 bedroom condos < 1 mile from campus are about 150K :-D
GMAT Club Bot
gmatclubot
[#permalink]
03 May 2007, 06:36
 1   2   3   

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions