living on my own?

Question

im gonna be moving out on my own at 19 years old..i plan on living with my friend in a $450 a month townhouse. I will be working at a local clothing store. Will me and my freind be able to make it on our own with out going bank rupt. I also plan on opening my own store after a few months on my own. will it work?

Answer 1

living by yourself can be very fun.. but you have to realize that by now you have to take more responsability in everything! What about going to college? are you considering that idea? I suggest that you find the tiime to get a career and a good education.. then you'll be very successful in life.. You still need to live and learn a lot of stuff.. so don't hurry! you'll have the time to do everything that you wish!!

Be careful, take care and good luck!!

Answer 2

You'll have to write down your expenses, and your take-home pay, to determine whether you'll have enough money to get by. If you don't live high, and are both working full time, the two of you together will most likely have enough money.

But you might want to reconsider your plan to open your own store in a few months. Startup business cost a lot of money, and you probably won't have that much available - and they usually take a good while, maybe a year or more, before they start making money. And you'll need your income from the clothing store job to live on.

Answer 3

make a written budget - all the expenses and when they are due. Then add up the expenses and take a look at your income. If you split all the bills and each of you pay your share you should be ok. As far as opening your own store, make sure you have enough money set aside to pay your bills for 1 year and then investigate the cost of opening your store. Rent, stocking, payroll, insurance on the stock and liability for your business. utilities, a lawyer fee for setting up your business, do you need any licensing or fees?
Once you have the cost, your 1 year savings for expenses, then you can figure out when you can open the store. Good luck.