Financial Literacy!

fuzzywuzzy, CNA · Apr 3, 2009

I'm really good at saving money. I don't know the first thing about investing though, and I know I should!

Serendipity, PCT · Apr 20, 2009

Question: Things have been a little (a lot) rocky lately at home. Is there anyone out there who is living on their own as a CNA? Is it doable? If so, how do you do it? How many hours a week do you have to work to pay the rent, etc.?

I know that whatever is going on at home will pass, and as a family we will always learn and grow from any mishap, but I can't help but wonder how problems at home are going to influence me in Nursing School next year.

There is no peace; you always come home to bickering and arguing-there is always family gossip and someone who is trying to get under your skin. I've been living like this at home for the past 2 years. It is taking it's toll on me until the point where I lock myself in my room all day and night.

Serendipity, PCT · Apr 21, 2009

This will be my monthly budget breakdown if I am to attempt to move out on my own on a CNA salary:

Rent = $1,000/mo 1BDRM Apartment.
Food = $400/mo or $100/wk Grocery shopping and/or eating out.
Transportation = $80/mo for MTA Metrocard.
Cable/Home Phone/Internet package = $100
Cell Phone =$80

TOTAL Monthly expenses = $1,660

Is this doable on a CNA salary? Am I missing anything from my budget equation?

Do you guys have any advce/suggestions for me since if I go through with this, this will be the first time I'm moving out on my own??

* I have decided that I wont attempt this until I've secured a job for at least 6 mos as a CNA- so I know its a stable one. Unless of course, things are that bad.

Until then:

1. I'm going to keep myself busy to avoid family problems at home.

2. Be frugal and save as much as possible.

Ninja Nurse, ASN · Apr 23, 2009

This will be my monthly budget breakdown if I am to attempt to move out on my own on a CNA salary:
Rent = $1,000/mo 1BDRM Apartment.
Food = $400/mo or $100/wk Grocery shopping and/or eating out.
Transportation = $80/mo for MTA Metrocard.
Cable/Home Phone/Internet package = $100
Cell Phone =$80
TOTAL Monthly expenses = $1,660
Is this doable on a CNA salary? Am I missing anything from my budget equation?
Do you guys have any advce/suggestions for me since if I go through with this, this will be the first time I'm moving out on my own??
* I have decided that I wont attempt this until I've secured a job for at least 6 mos as a CNA- so I know its a stable one. Unless of course, things are that bad.
Until then:
1. I'm going to keep myself busy to avoid family problems at home.
2. Be frugal and save as much as possible.

I'm so sorry that you are living with this.

But let me tell you from personal experience, that your expenses almost equate mine and I get help from my Father, and I'm 33. No kids, just a doggie and a wonderful boyfriend. But I decided to leave the bartending scene that has financially taken such good care of me all this time to pursue nursing. It's been a shock, but I believe it's doable. And I'm soooooo much happier not being around such a negative environment.

But enough about me, as for you, I would try to stick it out at your house until you know fer shur that you can survive on that salary. But at the same time, if it's too much to take and it's affecting your sanity, you always have the option of getting a room mate and splitting living expenses. Lots of students do that!!!

llg, PhD, RN · Apr 23, 2009

This will be my monthly budget breakdown if I am to attempt to move out on my own on a CNA salary:
Rent = $1,000/mo 1BDRM Apartment.
Food = $400/mo or $100/wk Grocery shopping and/or eating out.
Transportation = $80/mo for MTA Metrocard.
Cable/Home Phone/Internet package = $100
Cell Phone =$80
TOTAL Monthly expenses = $1,660
Is this doable on a CNA salary? Am I missing anything from my budget equation?
Do you guys have any advce/suggestions for me since if I go through with this, this will be the first time I'm moving out on my own??
* I have decided that I wont attempt this until I've secured a job for at least 6 mos as a CNA- so I know its a stable one. Unless of course, things are that bad.
Until then:
QUOTE]
I see nothing in their for clothes, etc. or for miscillaneous expenses like entertainment, toilettries, haircuts, etc. Also, you'll need money for health care (insurance, copays, etc.) Are you sure you have identified EVERYTHING that you will be spending money on?
I'd also recommend looking for a roommate to share your housing expenses. That can save you a LOT of money.
1. I'm going to keep myself busy to avoid family problems at home.
2. Be frugal and save as much as possible.[/

fuzzywuzzy, CNA · Apr 23, 2009

What about school- do you go to college? Because until you're 24 the federal government assumes that your parents are supporting you, even if they aren't giving you a dime.

Are you including ALL of your utilities in your rent?

You'll also need to buy a lot of stuff when you first move. Furniture, pots and pans, plates, towels, whatever. One day you'll realize you need a can opener. The next day you'll have to go out for something else. Not to mention all those ongoing expenses like toilet paper, cleaning supplies, laundry, etc.

If you really think it's best to move out now you should get a roommate. Or 2. I had 2 when I moved. One was my boyfriend. Our roommate left about over a year ago (wow!) and we've been able to live on our own. Bf is in a lot of credit card debt from a trip we went on but I save money.

Serendipity, PCT · Apr 24, 2009

I'm so sorry that you are living with this.
But let me tell you from personal experience, that your expenses almost equate mine and I get help from my Father, and I'm 33. No kids, just a doggie and a wonderful boyfriend. But I decided to leave the bartending scene that has financially taken such good care of me all this time to pursue nursing. It's been a shock, but I believe it's doable. And I'm soooooo much happier not being around such a negative environment.
But enough about me, as for you, I would try to stick it out at your house until you know fer shur that you can survive on that salary. But at the same time, if it's too much to take and it's affecting your sanity, you always have the option of getting a room mate and splitting living expenses. Lots of students do that!!!

Thank you so much for sharing some of yourself with me and giving me this advice. By "knowing for sure whether I can survive on that salary" do you mean see if I can live off of only the money that will be left over after I pay for all of my monthly expenses?

How exactly would I go about testing this out? Sounds like a great idea, though! :idea:

Serendipity, PCT · Apr 24, 2009

This will be my monthly budget breakdown if I am to attempt to move out on my own on a CNA salary:
Rent = $1,000/mo 1BDRM Apartment.
Food = $400/mo or $100/wk Grocery shopping and/or eating out.
Transportation = $80/mo for MTA Metrocard.
Cable/Home Phone/Internet package = $100
Cell Phone =$80
TOTAL Monthly expenses = $1,660
Is this doable on a CNA salary? Am I missing anything from my budget equation?
Do you guys have any advce/suggestions for me since if I go through with this, this will be the first time I'm moving out on my own??
* I have decided that I wont attempt this until I've secured a job for at least 6 mos as a CNA- so I know its a stable one. Unless of course, things are that bad.
Until then:
QUOTE]
I see nothing in their for clothes, etc. or for miscillaneous expenses like entertainment, toilettries, haircuts, etc. Also, you'll need money for health care (insurance, copays, etc.) Are you sure you have identified EVERYTHING that you will be spending money on?
I'd also recommend looking for a roommate to share your housing expenses. That can save you a LOT of money.
1. I'm going to keep myself busy to avoid family problems at home.
2. Be frugal and save as much as possible.[/
If I move out on my own, I'm aware of the fact that I will have to live a very simple and frugal life. That's why I didn't add any miscellaneous "play money" in my budget. Until I finish nursing school, the only clothes I will be buying, are SCRUBS, LMAO! I also do hair, by trade. So I will be able to do my own hair. I will have to work my butt off if I attempt to move out on my own- based on a CNA salary. I'm fine with that.
Toiletries, etc. I will probably buy in bulk? From Costco or something? Those are definite necessity.
Thanks a lot for your response. It means a lot! :heartbeat

Serendipity, PCT · Apr 24, 2009

What about school- do you go to college? Because until you're 24 the federal government assumes that your parents are supporting you, even if they aren't giving you a dime.
Are you including ALL of your utilities in your rent?
You'll also need to buy a lot of stuff when you first move. Furniture, pots and pans, plates, towels, whatever. One day you'll realize you need a can opener. The next day you'll have to go out for something else. Not to mention all those ongoing expenses like toilet paper, cleaning supplies, laundry, etc.
If you really think it's best to move out now you should get a roommate. Or 2. I had 2 when I moved. One was my boyfriend. Our roommate left about over a year ago (wow!) and we've been able to live on our own. Bf is in a lot of credit card debt from a trip we went on but I save money.

I thought that can opener statement was charming , LOL!

I hear you. Another day, another want. Huh?

But, I will not invest a lot in the apartment as I will not be able to afford it. The apartment will already be furnished; and all utilities are going to be included. If it's not furnished, I will keep furniture to a bare minimum- as I will not be home enough to entertain, and I wont be able to afford to entertain. Also, I wont be home unless it's to study (for PN entrance exam), or sleep- I will practically be working nights, weekends, 7 days a week, and holidays in order to rack up enough cash to get me through LPN school. I need to save at least 20-30K to get me through the year of LPN school - without me having to work much, or at all.

All I need is a good couch, tv, coffee pot, alarm clock, laptop, bed, dresser, juicer, dining room table, 2 chairs, and an office desk. (LOL!).

It's comforting to know that you are still able to save, though. I will give getting a roommate a good thought. My only fear is the other persons responsibility level.

Serendipity, PCT · Apr 24, 2009

What about school- do you go to college? Because until you're 24 the federal government assumes that your parents are supporting you, even if they aren't giving you a dime.
Are you including ALL of your utilities in your rent?
You'll also need to buy a lot of stuff when you first move. Furniture, pots and pans, plates, towels, whatever. One day you'll realize you need a can opener. The next day you'll have to go out for something else. Not to mention all those ongoing expenses like toilet paper, cleaning supplies, laundry, etc.
If you really think it's best to move out now you should get a roommate. Or 2. I had 2 when I moved. One was my boyfriend. Our roommate left about over a year ago (wow!) and we've been able to live on our own. Bf is in a lot of credit card debt from a trip we went on but I save money.

I thought that can opener statement was charming , LOL!

I hear you. Another day, another want. Huh?

But, I will not invest a lot in the apartment as I will not be able to afford it. The apartment will already be furnished; and all utilities are going to be included. If it's not furnished, I will keep furniture to a bare minimum- as I will not be home enough to entertain, and I wont be able to afford to entertain. Also, I wont be home unless it's to study (for PN entrance exam), or sleep- I will practically be working nights, weekends, 7 days a week, and holidays in order to rack up enough cash to get me through LPN school. I need to save at least 20-30K to get me through the year of LPN school - without me having to work much, or at all.

All I need is a good couch, tv, coffee pot, alarm clock, laptop, bed and bedding, towels and washcloths etc. (7 of each), dresser, juicer, dining room table, 2 chairs, and an office desk. (LOL!). - I WILL BE HITTING TARGET OR WALMART FOR MOST OF THESE THINGS!

It's comforting to know that you are still able to save, though. I will give getting a roommate a good thought. My only fear is the other persons responsibility level.

Serendipity, PCT · Apr 25, 2009

Firstly, I want to thank you all SO much, you have all been a great help to me in this journey so far, and I'm loving the sense of "community" and dialogue I am making with each and every one of you!

I spoke to one of the 3 potential roommates last night and we seem to be on the same page so far. We are looking to move in either February, May, or September of next year into a 2BDRM apartment for around $1,200 a month. We will split the rent. Besides rent, we only have to split the cable, internet, and home phone triple play package which is going to be $80/mo from Verizon. This means my total cost will be $640/mo for my future living arrangement,as will hers - as far as the apartment/ apt. fees are concerned. All other utilities will be included in the rent.

I was bored, so I created a list. We aren't sure if we are going to go for a furnished or unfurnished apartment as of yet. This is a list of things we will need to purchase pre-move in and post move-in dates:

Things To Purchase For 2010 Apartment!

Short Term - Individual Purchase(s)/Items I'm Bringing:

• Flat Screen TV

• Bed and Bed Set (7)

• Shower Set (7)

• Office Desk

• Hangers (30)

• Juicer - House Item!

• Coffee Pot - House Item!

• Alarm Clock

• Laundry Bag

• Dresser

• Book Shelf

• Full Body Mirror

• Treadmill

Long Term - Joint Purchases/Split Purchases:

• Living Room Couch Set

• Dining Room Table and Chairs (4)

• Living Room TV

• Living Room Entertainment System

• Dish Set For Kitchen

• Refrigerator

• Welcome Rug

• Window Blinds

Comments/ Concerns about the list? Is there anything I left out? Or

anything on the list you think we don't need? I'm thinking that the move in cost,

for me, is going to be 10K. This is including the 4K emergency fund money

that we both agreed to maintain to cover 6 months worth of rent and rent fees :heartbeat.

So my new breakdown is this:

Rent = $640/mo

Food = $200/mo

Transportation = $80/mo

Cable/Home Phone/ Internet Package = $50/mo

Cell Phone = $80/mo

Total = $1,050! :yeah:

Old Total = $ 1,660! :down: