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UK > NY/Hoboken Budget Help

Old Oct 17th 2019, 1:29 pm
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Default UK > NY/Hoboken Budget Help

Hi there,

I'm moving with my young family (4 & 6 yr olds) and wife to Hoboken in August next year. I've been trying to work our rough budget, would appreciate if anyone could verify if i'm roughly on the right track with the below: appreciate housing costs could be lower, but maybe more the other costs. Anything major missing?

Thanks,

Broadband/Cable $ 40
Netflix $ 15
Gas/Electric/water $ 100
Cellphone $ 75
Health Insurance $ 1,000
Rent $ 4,000
Total Fixed $ 5,230

VARIABLE
Subway $ 150
Food $ 1,156
Fun (going out etc) $ 711
Clothes $ 356
Kids Activities $ 356

Total Variable $ 2,728

Last edited by dsun2019; Oct 17th 2019 at 1:53 pm.
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Old Oct 17th 2019, 4:00 pm
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Default Re: UK > NY/Hoboken Budget Help

Broadband/Cable $ 40
Double that.

Gas/Electric/water $ 100
Double that too. Easily. NY is very cold in the winter and warm in the summer,

Cellphone $ 75
Could easily double this too. My monthly bill is $132 and that's with a single financed phone at $29 a month.
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Old Oct 17th 2019, 6:12 pm
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Default Re: UK > NY/Hoboken Budget Help

Originally Posted by dsun2019 View Post
Hi there,

I'm moving with my young family (4 & 6 yr olds) and wife to Hoboken in August next year. I've been trying to work our rough budget, would appreciate if anyone could verify if i'm roughly on the right track with the below: appreciate housing costs could be lower, but maybe more the other costs. Anything major missing?

Thanks,
Broadband/Cable $ 40
Our broadband in Mississippi is $80 per month

Gas/Electric/water $ 100
About right if you are renting a 2 bedroom apartment. Note that in major cities of New Jersey, as in apartment building in New York, heat is part of your rent. You do not pay extra for it. If you are renting a house, all bets are off.

Cellphone $ 75
About right if only two phones and not using a lot of data.

Health Insurance $ 1,000
Depends on what the employer is offering or if you need to buy on your own. On your own, I think it is too conservative for a family of 4.


You didn't say anything about owning or renting a vehicle. You will need one in Hoboken. Public transportation is not really what you want to use to get the kids to after school activities, pick them up from daycare, do grocery shopping, etc. If you get a vehicle figure in monthly payments/rental fees if not buying outright and cost of auto insurance. New Jersey has one of the highest auto rates for insurance in the US.

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Old Oct 17th 2019, 9:47 pm
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Default Re: UK > NY/Hoboken Budget Help

Where are you budgeting for cleaning supplies, toiletries etc? Also worth noting that although you'll have health insurance there will most likely be co-pays and deductibles to deal with too so you may need to budget for those too.
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Old Oct 18th 2019, 12:10 am
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Default Re: UK > NY/Hoboken Budget Help

Originally Posted by civilservant View Post
Could easily double this too. My monthly bill is $132 and that's with a single financed phone at $29 a month.
Ours is $120 all-in for three phones, two financed on Google Fi, and includes calls and 3 gig of LTE internet for all of us.
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Old Oct 18th 2019, 1:41 pm
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Default Re: UK > NY/Hoboken Budget Help

Health Savings Account - Minimum of $20 a month if no one uses medication on a regular basis
Trash
Hair
Emergency money
GIfts (Christmas etc)

Expect to pay around $60 per line, not counting any phone which adds a further $20 or so.

We spend around 6 grand a month to run a house and two cars in a very low cost of living state.
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Old Oct 18th 2019, 5:04 pm
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Default Re: UK > NY/Hoboken Budget Help

Originally Posted by notaclue View Post
Health Savings Account - Minimum of $20 a month if no one uses medication on a regular basis
This is taken from your salary before taxes so the savings might in lowering your taxes if you are lucky.

Trash
No fee for trash/garbage pickup in Hoboken, NJ.

We spend around 6 grand a month to run a house and two cars in a very low cost of living state.
WOW that is quite a lot but then again, you are in a new build house, have property taxes, probably pay for water, sewer and garbage. Larger home, more electricity used.

For the OP, you haven't mentioned:

House insurance/renter insurance. I paid $90 a year for renter's insurance in lower NYS for my one bedroom apartment through Nationwide.

You mentioned subway fees but how are you traveling from Hoboken to NYC? Are your using the PATH train, bus or ferry? Once in NYC you can then use the subway.
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Old Oct 22nd 2019, 4:36 am
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Default Re: UK > NY/Hoboken Budget Help

Couple of hundred here or there but you’re ballpark for sure.
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Old Dec 3rd 2019, 5:42 pm
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Default Re: UK > NY/Hoboken Budget Help

Thanks all-very helpful...although now having spent some time visiting areas in more detailed, switched to Park Slope.
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Old Yesterday, 3:32 pm
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Default Re: UK > NY/Hoboken Budget Help

Originally Posted by dsun2019 View Post
Thanks all-very helpful...although now having spent some time visiting areas in more detailed, switched to Park Slope.
So opted for Brooklyn instead. Park Slope is expensive but a great location.
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