I'm running a hypothetical scenario for a paper. How do these look?

[Massacure]

A guy earns $10 an hour (20,800 per year).
He loses 4300 to income tax, social security, and medicare
He spends 600 a month on a cheap apartment
175 a month on a cheap car
1000 a year on required auto insurance
Then I figured 250-300 a month on food, gas, clothing, etc...

After all those he has about $210-$260.

A $50,000 hospital bill means he has to take out a 30 year loan for 5.34% interest and pay $275 a month.

Do these numbers look right?
Utilities may or may not be included with the apartment, right? So I assume I can't calculate those, and I don't really need to, I make my point, he is bankrupt.
Is 250-300 about right for monthly food, gas, and clothes?

EDIT: OH! I Forgot to ask. The auto insurance is what I'm most worried about.

[Extend a Hand]

1. that would be pretty darn tight

$60 per week for all food clothes and gas. He better not eat out, date, or have to drive very much. :(

[Massacure]

3. I know. But he is already short $15 minimum.

Plus I'll mention the eat out, date, etc... after.

[dweller]

or have a kid, or 2....or 3 or more.

being realistic,



dp

[Cleita]

11. Yes, and he's have to buy his clothes at a thrift shop.

Even Wal-Mart would be too expensive. And gas? Unless you are filling up a motor scooter, you couldn't buy gas on that. It would be either get gas or eat.

[snowbear]

2. I'm not the best numbers cruncher..

$250.00 a month for food, gas, & clothes? :shrug: ..I suppose it all depends on where he lives, how much he drives, how often he buys clothes..

Bump for someone who has a real answer.. :hug:

[Massacure]

5. It does depend on where he lives. This would probably be a cheaper area.

[nashville_brook]

4. depends on where you live -- water and electricity differ

we have TVA, so it's cheap. about 25 mo water -- 75 for elect (back when we had small apartments). gas in the winter is paid thruout the year -- 70 bucks -- since prices went up a couple years ago.

[nashville_brook]

6. phone? cable? internet?

[Massacure]

8. Forgot about those. Thx.

[Massacure]

7. I forgot to ask about auto insurance. Is $1000 fair?

The car payments are based on a used car priced just under $10,000.

[snowbear]

9. I think that's about right...

$1000 year for auto insurance..

Then again, that depends some on his driving record, year of vehicle, type of coverage, etc... But I think $1000 is a good estimate for vehicle insurance.. :)

[Massacure]

10. Cool.