Question
I would like to move out of my parent's house somewhat soon after I graduate.?
I am currently sixteen and a half. I've finally reached the point where I'm no longer satisfied with living at home. Besides, I have no other choice. When I am eighteen I have to move out. My parents will help pay for college, but all other expenses are my responsibility. If I do not manage to find a family member to stay with or cannot find a roommate, I need to know what to do. In my Personal Finance class I learned about credit cards (how one should not use them), savings, and budgeting. The problem I am having is that I am not quite sure what I will have to use my money on. I know the basics: rent, utilities, bills, food, gas money, etc. I can get a job and save. I'm not a very materialistic person, and I can definitely sacrifice things to make this work. I don't need all the amenities an expensive apartment provides. In the next two years I plan to use my money on some of the essential items needed for a home. I know I can get a job a Wal-Mart (which includes discounts on thing I will need). I just need to know where to start with my planning. I like to plan things way ahead of time. Any advice on moving out for the first time? Anything you wish someone told you about living on your own?
6 months ago - 2 answers
Best Answer
Chosen by Asker
How hard it is. But you sound like you have a good head, just make lists for things you need, and also to get utilities on you need deposits so save those up. Make sure you have good credit.
by B
6 months ago
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Other Answers
First, congratulations on wanting to move out of your parents' home. It's not an easy decision to make. But, if your parents are going to help you pay for college (a luxury with which I was not afforded), then why would they make you move out? Moving out is a big step, and one not to be taken lightly. If you are serious about moving out, ask your friends if they're ready, too. You're more likely to enjoy moving out if you can have someone with a second income to fund rent and utilities. A part-time job at Wal-Mart will almost assuredly not give you enough money to do this on your own. Secondly, consider moving close to where your college is. You can save money you would otherwise use on gas by taking a bike, or walking (if geography and time permit). This is one of the things I learned very quickly when I moved out. Things you learn in your personal finance class will NOT help you manage credit card debt, nor should credit cards always be looked at as evil. When I moved out of my parent's house, I had $8,000 in CC debt, which does NOT include all my student loans. Getting ONE credit card to use for amenities is not terrible, provided you have a PLAN to pay it off. Paying your credit card debt off every month will not build credit. You're going to need a roommate, and find a place that is moderately-priced. Depending on where you live, a really nice apartment can be rented for $450 - $700 a month. Plan to spend somewhere between $25 and $50/week on food. You might not actually use that much, but plan for it anyway, so you can enjoy a popsicle once in a while. I do wish someone would have told me that you're going to need to be really comfortable with whoever you do move in with -- because you're going to see them a LOT. Try to get a place that's not too far away from your parents, or be prepared to rent a moving truck (our truck cost $900, but we WERE moving 700 miles away). Determine, with your parents, what is yours to take, and what is theirs. They're probably not going to fight you over you taking your bed, but you had be DAMN sure they don't want the dresser that THEY paid for. Make sure you box things up nicely and LABEL the boxes, because for the first few weeks, at least until you get situated, you're going to be living out of those boxes. If you're moving to a new state or jurisdiction, make SURE that you bring your birth certificate and have your parents sign over the car title (or the payments) to you. This was another thing I didn't even think of, and now it's going to be WEEKS before I can get my license in this state. Budget for the internet. Seriously. I can't stress this enough. Depending on where you live, it can be up to $60/month or more. Change your address once you move with all of your debtors, including your cell phone company. They're going to want to know that you moved. If I think of more things, I'll post them here.
by mitchsurp- 6 months ago