Affording the cost of living?

I%26#039;m a new graduate, and have started my dream job earning $44,000 a year, a lot from where i come from but not so much in NYC. I%26#039;m having problems budgeting and figuring out how much i can honestly afford to pay in rent here. I only think i can handle $800 or $900 a month, but all my coworkers pay about $1,100 -1,200 for studios and one bedrooms. With all other housing bills, what is the amount of rent I should be able to pay AND not starve and still have somewhat of a life? HELP

I don%26#039;t have school loans to pay and only $4000 in credit card expenses. I CANNOT HAVE A ROOM MATE UNDER ANY CIRCUMSTANCES!!!!

Affording the cost of living?

If you don%26#039;t have a car and survive almost entirely on the subway (NY subway is amazing!), you should be ok on $1,200 rent.

Here is my estimation of your budget:

Federal Tax: $6,500

State Tax: $2,200

Social Sec %26amp; Medicare: $3,200

Rent: $14,400

Utilities: $3,000

Subway: $1,000

Credit Card Payment: $2,000

Food: $5,000

TOTAL: $37,300

That leaves you $4,700 to play around with. It won%26#039;t be a glamorous life for sure, but you%26#039;re doing better than some... and remember, your income goes up with age/experience. So you%26#039;ll be better off in the future. If these are the poorest years of your life, you%26#039;ll do just fine.

Congratulations on landing your dream job!! Do what you can to increase your income while still doing what you love. That will be crucial if you want to start saving within the next few years for retirement. And any expenses you can minimize will simply add that much money to your excess money to be used however you want. So find ways to cut costs.

Best of luck in NYC! It can be a tough town.

Edit to add: And I fully understand the NO ROOM MATE clause. For some that%26#039;s simply not an option. Although I%26#039;ll just pose this question to you: If I offered you $6,000/year to share an apartment rather than have your own smaller apartment, would you take it? When thinking about it in those terms, many people change their mind. However, it%26#039;s totally ok if you don%26#039;t, I%26#039;m just making sure you realize the choice.

Affording the cost of living?

It will totally depend on what other debts you have. How much do you want to put into savings? How much to do you want to spend on food? Cab fares or car payments and fuel? The size of your apartment will also determine how much your utilities will be. A bigger apartment will cost more to heat. All that needs to be figured. However, my husband makes less money than you do and we would easily be able to afford a $1100 or $1200 rent payment if he made that much.