Is it more economical to rent a 1 bedroom apt. with my fiancee?

I don't know what the minimum wage is in your area, but let's assume it's $7.25. If you work a 40 hour week, you will each make a gross of $290 a week. That's $1,160 per month, before taxes, social security, and any other deductions (health insurance?). Together, you earn $2,320 a month, again before any deductions.

You cannot afford $1,400 a month for rent with that income. In fact, most landlords would reject your application if you tried to get an apartment at that price. $700 might be do-able. But first count up EVERYTHING else you have to pay for. Heat and A/C, electricity, phones, cable (skip cable, if you can bring yourself to do that), food, entertainment, gas for the car, clothing, plus any regular bills like a car payment. Don't forget medical expenses, including the cost of contraception. You certainly can't afford a baby right now, so you must be extra careful about contraception. Then, add about 25 percent to whatever total number you come up with. Why the extra? Because there are always unexpected expenses, like going to the doctor, or a car repair.

Next, add in whatever amount you plan to save. Trust me, there will be months when you can't save anything, but at least you should be having some money taken out from each paycheck to put into savings.

Add all of that up, and subtract it from your actual pay. So, say your monthly expenses come to $800. Adding 25 percent makes it $1000. If you save $30 a week ($120 a month), your basic expenses are $1,120. Now, let's assume that your actual take home pay is $1,900 for the two of you. You have $1,900 minus $1,120 to spend on rent. In this example, it comes to $780.

But you have to figure your own actual expenses. Do you need to add money for cosmetics and such? Do you have a pet? Food and vet bills have to be counted as well. All of that comes off the top. If you want to save more than $30 a week -- and you should certainly TRY to save more, than that comes off the top as well. On the other hand, if your minimum wage is higher, you can start with a higher amount before taking your expenses into account.

See if you can swing it. If not, you may need to cut somewhere, stay with family a while longer and save up, or do something else. Just make sure to try to think of everything first. Good luck!!

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1400 a month for a one bedroom? Where is this apartment? Caesers Palace? Both earning minumum wage.... it'll be hard making ends meet on rent. I don't know where you live, but the average state minimum wage rate is $7.40. How can anybody afford rent on that? They cant.

I make 32k a year and sometimes have a hard month every now and then paying my $1150 mortgage.

It is a more economical approach than getting a two bedroom. Besides... I don't see why you wouldn't get a one bedroom. But I don't know what you're comparing it to. Living with your parents? If you both have steady jobs that pay decently, you shouldn't have any issues affording a one bedroom apartment.

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