Moving away from your parents is a big step, which also indicates your willingness to become an independent and independent person. You need to be well prepared to be able to take care of yourself and your needs on your own. Before you move out from your parents, you need to think through your budget to cover all the upcoming expenses, and also make sure to make a financial plan for monthly living expenses. Your life will be easier if you address part of your moving to professionals. Check moving company reviews and ask for a moving Quote. Expenses are always disappointing but using nowadays tools like approximate moving cost calculator or numerous apps will help you to plan and even save your money.
In addition, it is also worth thinking about the emotional adjustment that you will have to face. Living apart is a great idea, but remember that your life will change a lot from now on. Think about whether you are really ready for this.
Learn to control your budget
Find out more information about how much money you will need to meet basic needs and pay for housing per month. When you start living separately, you will have a lot of bills and receipts. It’s just inevitable. Therefore, before moving, you should learn about the cost of renting housing, utilities, food and transport. Make a list of everything you use every day (water, heating, Internet) and try to figure out how much you will have to pay for all these services (per month) in the city where you are going to live.
Calculate your budget.
Make the necessary budget calculations and write down the result on paper. In addition to calculating how much money you will need for such necessary things as paying for rent, heating, and so on, try to add other items to the budget (less necessary, but also important). For example, try to calculate how much money you spend on various kinds of entertainment per month. Do you like going to the movies? Don’t forget to note it in the financial plan.
Calculate how much money you earn. If you do not have a stable income, try to calculate the budget based on the minimum that you can always earn. You don’t want to run out of money.
It is also important to take into account the cost of transportation, because you will need to move around the city. Find out how much money will be spent on gasoline and public transport.
Try to include “sudden spending”in your monthly financial plan. Everyone has unexpected expenses. For example, each of us from time to time needs a pizza or a bar of chocolate after a hard day’s work.
Don’t be afraid to make some adjustments to your financial plan over time. Prices for products and services will change, as will your income and priorities.
Open a bank account or apply for a loan.
A loan or simply having free cash is an important part of financial independence. Before you move away from your parents, it is important not only to make sure that you have the necessary free funds (or get a loan), but also that your credit history is in order. When applying for a loan, you may be asked to issue a credit card. Find as much information as possible about different offers, banks and interest rates and choose the option that will be most optimal for you. You need to be sure that you will be able to pay your bills and credit on time.
You can ask your parents to identify you as one of the owners of the property. The fact is that in this case, you will have a better chance of approving the loan.
Take care of the so-called “financial safety net” when moving
What will you do if your car breaks down? What happens if your superiors suddenly cut your work hours or shifts? Unfortunately, trouble happens from time to time. That is why it is so important to save money “for a rainy day”. When you start living separately, set yourself a goal-to save at least 35,000-50,000 rubles in case of an emergency. Ideally, the amount of the financial cushion should be so much that you can live on this money for a year. However, in reality, things are not always the way we want them to be. Make sure that the money is enough for several months in case of something.
Arrange a “trial run” when moving
Before you decide to move, spend a couple of months working out how to fit into your budget. To do this, calculate a financial plan and strictly adhere to it. You can even go a little further and try to pay an imaginary rent to your parents in order to prepare mentally and financially for the fact that soon this amount will have to be paid to the owner of the rented housing. It is unlikely that your parents will be against such training!