I just graduated from high school and I thought I'd give myself freshman year in college to stay at home and then move out sometime next spring or summer. I need to know about budgets, credit cards, saving money in college, finding a good place with good rent- just everything I need to know because I feel as if I am going into this whole thing blindly.
2007-05-29 14:08:53 · 4 answers · asked by Loreana 1 in Business & Finance ➔ Renting & Real Estate
The best thing that you can do is immediately start acting as though you were already living on your own. You should develop a spreadsheet listing how much you will spend for rent, utilities, food, and insurance, and any other costs that you feel is necessary like transportation. Put that amount of money away every month to see if you can really live on what you expect. If you can't you need to lower you rent goals, find a better job or do something until you and your spreadsheet can balance. Believe me you will learn a lot about yourself and about life by doing this.PP
2007-05-29 14:17:25 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
If you are young, I wouldn't even get a credit card. 99% of young people ruin their early financial life, if not more, with credit cards. If you can't afford it, you can't have it. Don't waste money. Don't buy pizzas, go out to eat all the time, go out to bars. You can't afford that, that's extremely expensive. Budgeting is useless, you can do that in your head, just live poor and don't waste money at all. You get the message? DONT WASTE MONEY. And save money as much as possible before you do this so you have some "cushion" to work with. Rent is usually pretty common in a particular area for the same type of amenities, but see if there are any places where you dont have to pay utilities and perhaps a not so great place so that the rent is a little lower along with no electricity, gas, water bills. May not exist in your area, but it is possible. The real key is that your mindset is set that you do not have to try to live like your parents do now. You can't have what they have at age 43 when you are 20!!! Don't waste money!!! Don't buy things that you don't need. You are essentially poor right now, so live like it, and reap the rewards at another time. Go for it!!!
2007-05-29 14:20:41 · answer #2 · answered by The Scorpion 6 · 0⤊ 0⤋
I know a lot of high school students won't like this, but ask your parents to help you. They did the same thing you are preparing to do once, and they can help you avoid some of the mistakes they made.
If you have some friends who are a couple of years older who have already moved out, check with them too. They don't have all the answers yet, but the mistakes they have made are fresher in their minds, plus you aren't their child leaving home for the first time.
2007-05-29 14:15:01 · answer #3 · answered by Brian G 6 · 0⤊ 0⤋
Congratulations! We're so proud of you. (sniffs, wipes a tear, toddles back to the house to get the camera ; bake you cookies...)
Everybody feels this way when we are first starting out. There should be plenty of life skills seminars at your campus. Take a business math class.
And keep the noise down after 11, please, wherever you go.
2007-05-30 00:34:01 · answer #4 · answered by NeighborLady 4 · 0⤊ 0⤋