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Happy Sunday everyone!
On Friday, I received the following question/message from a reader:
I was wondering what you think is a safe estimate for monthly living expenses for a 26 year old moving to Washington DC?
This boggles me due to living expenses beings higher in that area. In college in the Kentucky, I could live on $1,000 per month in living expenses, making next to nothing in income. I am currently in Saint Louis and have $2,000 per month for expenses, making $62,000 total per year in income.
Reader Financial Details:
- Reader will be splitting rent, utilities, and other household expenses with their significant other. The price range of the places he is looking at is $2,150 total per month (includes parking fees and utilities).
- Has no kids.
- Has about $15,000 in student loan debt and will be attending graduate school in January part-time, getting a very low student loan interest rate.
***Photo courtesy of http://s0.geograph.org.uk/photos/59/51/595137_ca89e33e.jpg