How Can I Best Prepare to Move out on my own When I am 18?

Question

I am 17, I will be 18 in september. If I decide to move out when I am 18, what type of expences am I looking at, and what factors should I keep in mind. Is there some footwork I should start at now for better results later?

Answer 1

Just a few random thoughts ... I hope they help.

Going out on your own is hard ... there are lots of things to learn. I'm not recommending any particular track, but make note of the fact that people going into the military, certain structured programs (i.e. religious missions, peace corp, americorp, and etc), and people going to college get an in-between experience that eases the transition. Assuming you are making the jump all at once, your success will be dependent on developing certain life-skills:

Concerning Money: 1) You must earn money, 2) You must spend less money than you earn, 3) You must save/invest some money from every paycheck into an account you aren't expecting to touch for many years, 4) You need to avoid financial tangles, 5) You need to learn to spot people/things (like TV) whose greatest skill is separating money from the people who have it, 6) Until you get "far enough ahead", you will need to quickly develop a keen sense of the difference between "need" and "want" and must arrange your life to minimize your needs. This is something you can start to learn now.

Concerning Education: 1) If you won't be done with High-School, you must finish High-School ... no exceptions ... any honest way to do so is OK ... don't be afraid to ask for help from anyone worthy of respect, 2) You must learn something new everyday (that people worthy of respect would respect you for), 3) If you can find a way to go to college you should do so ... if you can do it full time you will have access to an in-between experience and resources that will really help. 4) Learn from the successes and mistakes of others. Another reason to go to college ... everyone around you is making mistakes you can learn from.

Concerning Work: 1) You need to do honest work that is good for your "soul/self-image". Ideally with people worthy of respect. Note that digging ditches is honest work ... dancing at a "gentleman's club" is probably unhealthy, 2) You need to be a good employee ... on-time for work, excited to be there, interested in learning, willing to accept responsibility, and consistently meeting or exceeding expectations. 3) Ensure you are focused on your work, but be aware of the whole environment you work in.

Concerning Friends: 1) Associate with people worthy of respect that will honor you with the respect you deserve. 2) Arrange your life so that you deserve respect. 3) Make healthy friendships a priority. If you've been true to your part of a friendship, don't lament the loss of one-sided or abusive relationships.

Practical things you can do now: 1) Learn how to open and properly follow/use a checking account, savings account, a retirement (Roth IRA or 401K) account, and (GULP) a Credit Card, 2) Get a job ... learn the work skills ... get experience on your resume ... establish references ... save as much of the money as possible ... there are lots of initial expenses, 3) Develop a network of people and resources to help you, 4) Evaluate housing options, 5) Identify possible roommates, 6) Prepare a sample budget based on realistic estimates of what you will earn and spend ... a high-school conselor or teacher can help you. Learn the true cost of a car (not less than $0.50 a mile), meals, a cell-phone, cable (w/HBO), and an internet connection, 7) Learn to read 3 time faster than you talk (450-500 words per minute) most people read the same speed that they talk, 8) Learn to type 40+ words per minute ... its not hard and will open up many additional opportunities, 9) Learn to write ... Jobs that pay more will be easier to excel at if writing is not a hurdle. Long-hand journalling for 15 minutes a day is a start. 10) Find a day to visit traffic court ... vow not to be a person who tells a truely lame story in court, 11) Read about avoiding financial tangles, 12) Learn moderate or better skills in Microsoft Excel ... the other Office Products are good to learn too. 13) Learn about "compound interest" and the "time value of money". Vow to use this knowledge to help you get ahead instead of enabling others keep you poor.

Answer 2

SAVE MONEY!! This is the best advice I was ever given, and it sounds so simple, but it's true. If you don't have a job and enough money when you're ready to move, you'll find yourself behind the 8 ball. Every landlord demands both first month's rent AND a security deposit (usually in the amount of a month's rent) and some also require that you pay the last month's rent, as well. This is a huge chunk of change! Consider that you will need to have electricity, phone and cable hooked up, as well as your internet service. Going in on an apartment with a reliable friend is always a good idea for someone just starting out, but make sure he/she is really trustworthy and responsible, or you could get shafted.

Good luck!

Answer 3

Why do you have to drop out at 18? Finish school and get your HS diploma. In NJ as long as you don't drop out at 18 you can be in high school until the end of the school year in which you turn 21. Most states are similar in their rules on the maximum age for high school. You'll have to get a job to help with expenses. I live alone and pay about $1600 a month in house hold expenses. Your monthly expenditure will depend on total expenses divided by how many people live together. But don't just go by that number to figure out what you need. Unexpected expenses always pop up, plus you'll want entertainment and luxury funds so make sure you can pay your portion of the bills and have a sizable savings (recommended savings is equaled to 3-6 months worth of expenses). But whatever you do- don't drop out of high school. You'll have more options if you see high school through to the end.

Answer 4

Responsibility, Maturity, Educated, Having A J.O.B.. Graduate
from high school, pass the exit exam. Then going to college
to study for a good career that will get you some where in life
not just a pay check to pay check. A Career is where it's at
and that is where the money is at, because minimum wage will
not cut it. It will not help you pay your bills, pay the rent, buy a
car and have money to spend on your self. You'll be stuck going
no where. So there is Lot's too do before you plan to go solo.
It sounds easy but it's not. It takes money and of course in order
to have money you need a job. And in order to have a good job
you have to finish high school then graduate college.

Answer 5

Don't be a fool. This is the time you should be planing on a career for your life. Spend this time going to college or taking some type of trade school. There is nothing worse than seeing a old person working for minimum wage because they had the same ideas as you.