<prompt> Human: I am a student at the University of Oklahoma and am about to start a year long internship with a Fortune 500 company. This is my first time be totally on my own and I know very little about personal finance. My monthly income before taxes is 4.5k. I am living in an apartment that is 914 a month. First of all, I am trying to figure out how much I will take home monthly after taxes. Other than that I am looking for some advice on what to do with the rest of my income. The only thing I really need to save for is the summer, for which I will spend 3 months out of work. Thanks in advance for any advice!  <response>: 30-40 to taxes would be a very safe bet. So that leaves you with at least 2,800 dollars per month. Rent should be at max 13rd of your income, which it is, so good for you.You should be able to live on the other 1,900 dollars each month, in fact I think you should indeed be able to live on about 700-1,100 a month depending on expenses on transport and food. So put at least 800 in your savings account after you get your monthly salary or 400 if you are paid bi-weekly and you should be able to live fine on the rest of the money. If you have money left over a the end of the month, dont hesitate to put it away, too. Who knows when youll need it...Other advise: track your spending. This will help you understand where your money is going, and it also, after a while, helps predict future expenses. 