Gut Check; Is this budget doable?

Budgeting

I was living with my parents since I graduated college and things have always been tense. My parents were super helpful when it came to letting me live at home and offered to let me stay rent free and covered some groceries here and there. I aggressively paid down loans for 15 months, but it was becoming too much of a mental and social strain to live there. The constant fighting and jockeying for personal space was too much. It all came to a head two weeks before Thanksgiving and vowed to be out by end of the month. I rushed into a lease because it seemed great and I felt I was prepared, but now am having major doubts on how I will be able to pull this off. Please feel free to pick apart my budget and help with anything I may have over looked.

Assets and Income

Current Emergency Fund: $2000

Primary Income: $2,400 net

Secondary Income: $200 - $300 net

Debts

Federal Student Loan: $23,xxx @5.45% Min:$510

Private Student Loan: $18,xxx @4% Min:$193

2011 Malibu Loan: $12,xxx @2.79%

Total: $53,XXX

Current Budget

Rent: $427.5

Electric:~$15

Gas: Variable ~$200-$300 for winter

Phone: $100 (family plan and helps pays for sisters phone)

Cable/Internet: $25

Car Payment: $315 (1 mo. ahead for cushion)

Auto Insurance: $100

Renters Insurance: $30

Gym: $40

Student Loans: Min $710

Food: $250

Savings: $200/variable

Looking to build up a 2 mo. Emergency fund and dump the rest in the private loans and avalanche down. My job is really secure and has mobility so I feel comfortable with only 2 mo. Emergency fund. I am matching 6% on 401k and considering down sizing the car, its got only 45,xxx miles on it so I was looking to have it till it dies. Let me know what you guys think!

Posted Dec 2, 2015, 10:41 PM UTC

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