Friday, August 12, 2011

How much money would I have to save to move out when I'm 18?

Hi, G C is right. It is the ongoing expense that you need to consider. Research first It is ok to want to be independent. but when you do leave, try not to leave on a bad note. Watch out for room mate situations.I would nt get involved in one. My kids tried that and ended up coming back home (they left on good terms) because the room mate ended up free loading and not paying their share. (AND this was a great friend that had a job). go figure. That is why its best to make sure you can swing it alone. Look at newspaper ads in areas you want to live. Ask. Contact a rental agency. If you do not have a credit history, they may not give u an apartment so prepare for that. But if some one does, they will want to know you have a way to pay. Then contact your utility companies. (phone, cable , internet, electric, etc . and ask them what the average cost would be for the amount you might use. (a way to save is if you already have a wireless lap top and go to places that have wi fi,, use the desktop at the library, just use ur cell phone not a land line, do with out tv, decide what you can really scrape by with out. as these things u may have taken for granted all cost money. Then of course food, cosmetics, cleaning products, etc Try to get an apartment that has heat included in the rent. Then consider how stable your job situation is. What if you got laid off of your job.? Would it be ok to return home? (thats why I say try to leave on good terms.) also will you need transportation ? do you own a car? consider insurance and repairs, etc... CAREFULLY write out a budget with EVERYTHING in it that you might need.. I know around my way a one bedroom heated goes for around 850- 950 a month. So it could well cost you around 2 thousand a month to live, easily. Dont plan on having a pet (extra expense) for food and vet bills, and dont let friends think they can come and eat your food , etc.. you will need every penny you have for your own expenses. and of course if you get sick (hope not) and have to stay out of work will you get paid? What if you go over your sick time? Also apartments usually want first and last months rent up front and some want a security deposit of perhaps 300 -500 dollars in case you break or damage something... SO its not easy thats why some may try to encourage you not to do it for awhile... Again if you do just dont leave in anger and have a back up plan if you run into trouble or your land lord asks you to move in case he or she needs the apartment for their own family member, sell the place and the new owner tells you you have to leave cuz he wants it for his own family. or raises the rent... ask how often rent increases are allowed under law, call your zoning board or town hall to find the right department.. its like tenants rights or something... so see there is a lot to it.. Good luck and God bless. What ever you do dont move in with some one of the opposite sex who may be totally wrong for you just to get away from home... your life will be miserable..

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