Moving out, please help!?

Question

Okay, so I'm 16 right now and I plan to move out once I turn 18. We have picked out an apartment and plan to visit it soon and check the town out n stuff. But we are unsure as to what all expenses we need to pay and if we can support ourselves financially. We, being myself and my best friend, are just afraid that we will forget to factor in something i.e like food and be screwed.

A complete list of expenses and tips would be terrific.

Answer 1

Expenses:

Rent (and deposit to get started)
Natural Gas
Electricity
Phone
Water
Food
Renter's Insurance
Car
Gasoline
Car Insurance
Car Repairs
Bus fare (if no car)
Entertainment
Clothing
Laundry
Furniture
Appliances
TV
Cable
Internet
Computer
Health Insurance
Dental Insurance
Personal Care Items (Toothpaste, deodorant, soap, tampons, makeup, perfume, etc.)
Linens
Cleaning Supplies

Tips:

Figure you'll need about 3 months worth of rent to get moved in to cover the first month's rent, security deposit, and utility deposits. Shoot for 4 or 5 times rent. It will make life much easier.

You'll generally need income of at least 3 times your rent to be approved for a lease.

Once you sign a lease, you are legally obligated for the full term of the lease. If you break the lease, the landlord will go after you for unpaid rent until they can place a new tenant.

As a general rule of thumb, all of the things that you though you had planned for will cost you twice as much as you had estimated. Make sure that you have enough income to cover that before you make the move.

Answer 2

Two years away...alot can change.

Keep in mind that COLLEGE should be priority and not trying to play house before you are ready.

Unless you like flipping burgers and working on minimum wage the rest of your life, education is the key to success. You can live on campus and qualify for grants and financial aid that will pay for everything, even meals.

It was the BEST time of my life and I've never talked to anyone that ever said that they hated the years they spent in college....you only get to experience it once in your life, and once that window has passed, it is hard to go back.

Trust me, it will be the best decision you have ever made in your life...if you think life is hard now, wait until you try to make it with little to no money.