I graduate high school in May 2009 and plan on moving to Chicago. I was accepted into a community college. The main reason I think I can afford it is because I wont have to have a car. My car + Insurance = 230 a month. Here is what I'm thinking:Car0Ins0Transit75Rent450Misc223( 200 + sales tax of 11.25)Total748The minimum wage will be 8.25 when I arrive, or very soon after. 748/8.25 = 90.6 hrs/mo or if I work 20 days: 4.5 hrs/dayI'll skip some more math but I would prolly want to work 6.15 hrs/dayand have 49flexiblele $ each month.(1) Does this sound reasonable, am I missing anything important or is anything wrong?(2) Will it be easy or hard to find a job in Chicago? I jusdon'tnt want one in food. (3) is it okay to have work, college, and apartmenspreadad around since there is a subway or should I keep them really close together? Like can you travel across town really fast?(4) What else do you think I should know? when I said 49flexiblele $ I ment 490$

As a fellow college student, I believe that some of your figures are correct...but you have to separate Misc into a lot more categories, such as: groceries, cellphone bills, electric bills, water bills, and possibly cable bills - which depending on whether you have room mates or not, may fluctuate. I share a house with 5 people, and last month the bill split between 5 was 80 dollars - it was 50 dollars more than normal. So you have to expect a lot of ups and downs in bills.If you aren't taking a car, which would definitely reduce your expenses, you should probably either invest in a bike, subway, or find out about any public transportation buses around your area (of where you live and where you want to go.) I do not know the rent averages of where you are planning to live, but I highly suggest you do some research, OR, you check into where you want to live (you also need to calculate a deposit, which can range from 100-300 for an apartment.)On last notes, you should definitely keep some extra money for emergencies. Emergencies such as getting ill or an accident happening. So don't try to cut your budget close.And for your third question, I have no idea where you are living so I have no idea if you can make it "really fast" or not. You have to google map it and see how long it would take to walk, bike, or drive to see an approximation of how long it would take. It is suggested to keep all of your locations close to eliminate time problems (getting up early, sometimes having to turn down jobs because you don't have enough time to get from point A to point B). However, the closer you get to a college the more expensive houses are.

Don't forget taxes are subtracted from your job prior to you receiving your paycheck.UtilitiesFoodThe college you are attending should have a cost of living sheet.

So if you want to live in a neighborhood in Chicago where you're not going to fear for your life, your rent money is way low.An average one bedroom apartment here in the city, in a reasonable neighborhood should run you around $600 and that's not even throwing gas & electric into the mix...Also, the closer you live near a subway or elevated train, the more expensive your rent will be for sure.You can cut soe cost by finding an apartment with a radiator which would make your heat free, but you still have to pay for cooking gas. You can even find a lot of garden (basement) apartments where the total cost for all utilities are included in your rent which would eliminate the guessing on your utilities.This also doesn't include a things like a cell phone or your internet.I would say in the end, if you tack on $500 extra to your budget you'll be fine.