Ah, freedom. This is what we've been waiting for since we've been sneaking out at the age of 16. It may all sound wonderful when you're at that age, but what about now? Are you intimidated by the thought of taking care of yourself? Doing everything...even cooking...for yourself? Well, it's not that bad, I promise. This is for all of you ready to go out on your own, get your own place and all of that.
1. Figure out your expenses.
Rent, cell phone, electricity and water might be bills that come up in your mind first. But there are a lot of little things to worry about. Renter's insurance, trash removal, internet, gas, laundry, groceries and the initial security deposit are all equally as important.
2. Get a job that makes it so you make three times the amount of your rent.
This is very important. Say rent is $800/month. Making $2400/month through working will do a few things. It will get you approved to rent a place. (Yes, they need to know you make more than enough to cover rent. Most places state on their application that they want you to make three times your rent monthly.) It will give you enough money for your bills, assuming you're not going crazy with the electric and whatnot. And, also, it will give you enough leftover for emergencies or some fun. Some. Did I make that clear enough?
3. Buy things on sale. Don't pay full price for anything you don't need. Groceries are not supposed to break your bank.
Buy the store-brand food. Get some Ramen noodles. Shop at the dollar store. You don't need the brand name of Cheerios. Go for the "Toasted Honey Nut-O's." Most importantly, use coupons. Find them online or in a newspaper. Combining a coupon with a sale going on in the store makes it so you hardly pay anything for an item. And, an important thing to remember: Fast food will not save you money. It becomes expensive. Shop at the store and eat at home.
4. If possible, room with someone.
Get one of your friends to move in and split expenses with you. Or, get your significant other to join you. It lightens up the pressure. Just make sure they agree to do their part!
5. You will live without things you didn't realize were actually pretty important. And you'll get used to it.
You might not have a microwave or toaster for a while. If your place comes with a stove, deal with that. Most things can be cooked on or in the stove; it just takes longer. You need to buy eating utensils, a pot or two for the stovetop and a pan for cooking inside the oven. Ask around to see if some people will donate things to you. They can get pricey if bought new. Especially with large furniture, like couches and beds. But, if you can't get your hands on them, that's what that extra money is for. Save it.
6. Make sure you choose a good place to move into.
Is it in a good neighborhood? Are any expenses covered like water, sewer, trash, etc? Is there on-site laundry? Is the landlord reputable? Are you close to stores and gas stations? These are all important to consider.
7. Believe it or not, even if you're a first-timer, you need good credit.
This is where it can get hard. If you're just moving out of your parents, there's a good chance that you don't even have any credit. This usually won't fly with a landlord. They do a background check and a credit check. If you're not comfortable with a credit card, get a co-signer on your lease. This is just someone signing to say they will cover your rent if you can't make it. (The idea is to make the payment yourself either way.)
8. Don't be afraid to ask for help from your parents.
They're there to support you, and they understand what it's like to start off all alone. In most cases, if they can, they will help you if you have some financial trouble in the beginning. Just don't make a habit of it and pay them back every penny.
It will be hard and stressful starting off, but it's easy to get the hang of, and definitely worth it. The biggest thing is to just make sure you can handle it and have enough money!
