How do you live on your own?

Question

What should you know before moving out of your parents house and move out on your own? It's time that this pigeon flew its coop, so what are some major things to know before I fly away?

Answer 1

BUDGET: most important thing...most people find themselves in over their head when they don't realize how much their monthly expenses are going to be.

Answer 2

Most people in up in debt cause they get an apartment that is too expensive, and go for lots of material things.

The book "Rich Dad, Poor Dad" which can be found at the library will help you get into the financial mindset so that you can start out correctly.

Definitely get a cheap apartment that is in a safe area. Definitely need a job first and budget. Watch how much you spend on "having fun".

The Millionaire Mind Intensive is a great seminar to help you budget in a very, very easy way. Here it is in nutshell:
Take the amount of cash you bring in (income):
10% Savings
10% Long-Term Savings (for the big items like a new car, vacation, new wardrobe)
10% Education (always need to learn and grow)
5% Give (need to give back to society)
10% Play - have to have some fun
55% Necessities (rent, food, cleaning supplies, car payment, utilities - all normal monthly living expenses)

So, take your income (net cash amount) and multiply it by .55. That will tell you how much you have for rent, food, etc. Think about finding someone to be a good roomate. That helps a lot with the rent issue.

Good Luck!

Answer 3

There is lots to know - but most of it you will learn along the way. Here's a few pointers:

1 - a magic fairy will not scrub the toilet, or dust, or clean out the refrigerator....or do any of the other things that seemed to magically happen when you lived at home.

2 - Get your money and bills organized. You have to pay bills, and they prefer you do it on time. I suggest investing in a calendar.

3 - If you have central heat / AC, you have to change the filter once a month.

4 - Don't get a dog. Everyone who moves out on their own wants to get a pet. Don't. You need to be comfortable taking care of yourself before you add an animal in the mix.

That's all I can think of right now. Good luck!

Answer 4

In order to be self sufficient you need a steady source of income. Everything is based on what you can afford. Rent. Electricity. Garbage. Water. Telephone. Food. Gas. Car Insurance. etc... Everything costs money and you have to live within your limits.

As a general rule of thumb, you should be earning enough money to cover 3 times your rent.

So if you find a studio apartment that costs $350 a month, in order to be able to live and cover your monthly expenses, you should be earning at least $1050 a month. Budget your money so that you can cover all your monthly expenses and still have a little bit left over.

Do that, and you're on your way.

Good luck.

Answer 5

I sugguest being sure that even without a room mate you know you can pay the bills. You don't realize how much you take for granted intil you move out. Little things like dish soap and toliet paper aren't just there anymore, you have to go buy them. Also it wouldn't be a bad idea to start buying the things you'll need like a toaster or sofas before you move out and have to pay rent.

Answer 6

Yeah, you will eat Junk! Save up money. Buy stuff cheap like used furnature. Try craigslist.com in your area for that. Remember if youre into movies or video games that adds up FAST you can always sell them or trade them. Sont collect stuff like I did thinking "one day i'll need this" I moved into a new house after 6 years in an apartment and didnt need any of it.... THROW IT OUT! keep your place clean! One thing we did to save money was... a few friends would get together every WED. We'd cook dinner for the group. Lots of pasta is cheap like $5 for everyone! We'd all have a nice sit down dinner. another thing I did was portion stuff. Freeze the rest. Most everything isnt made for one!

Answer 7

* Be careful not to over spend. Pay all your bills first before anything else. Make sure you have an updated personal phone book near the phone. Be careful who you bring back to your home. Be kind to your neighbors. Enjoy your life, think smart and live sincerely. You like all those who have gone before you will find your own way in life. I wish you well and have fun... ;-)

Answer 8

Make sure you are earning decent money. Do not leave until you have enough to pay moving in costs and have a spare months rent in the bank. You may have buy everything from flatware to toilet paper unless your folks are helping out.

Money and regulating its in and out ratio is your biggest concern.

Answer 9

Always factor a lot more expenses into your budget than you expect - sh*t happens like a flat tire, you break a tooth and the dentist bill is huge, etc.

Always pay your bills on time. Nothing will ruin your life like bad credit - it can haunt you for so many years.

Good luck!

Answer 10

Make sure you can afford all bills: rent, utilities, etc. Make sure you have a lot of money to buy the essentials. It's amazing how much the little things you need cost.

Answer 11

Money management
time management
don't hook up with unemployable hippy types
don't help people that do not return the favors
try to establish credit
call the utility companies and find out what security deposits are.
Get a lease, find out what the deposit amount is.
Get all your ecords together for the move and legal stuff as results of a lease.
Pray to god that you can do well and do it.

SPEND LESS THAN YOU MAKE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!