Note: This guest post was not written by a Movers.com employee, therefore the views and expressions of the author do not necessarily reflect those of Movers.com.
Moving out of your parents’ home can be an exciting (and scary) undertaking. But let’s be honest, everyone has to fly the coop eventually. Moving out builds character, develops responsibility and helps to create a path to a well-heeled, independent adulthood.
To help guide young adults into the real world, we have gathered some pointers to prepare them for this big adventure.
Start paying bills nowThere’s no better time to start paying bills than when you’re still in the comfort of your parents’ house. Paying bills can be tough, especially in the beginning, and drowning in debt is one of the main reasons why millennials who do move out find themselves back in their childhood homes after a couple of years. By learning the important skills of how to set a budget by paying rent (or at least your own car insurance and cell phone bills) and contributing to household needs (you eat food too, so pay for some groceries!), you won’t be as surprised by the impact of bill-paying once you get out in to the real world.
Begin the job hunt
One of the reasons that you may be stuck at your parents’ house is that you don’t currently have a career -- or perhaps you don’t have one that allows you to comfortably move out of the house. In order to get on your feet, take some time to spruce up your resume, or possibly look into some certifications or extra learning opportunities in areas that you’re interested in. Using available time to further your dream-career education will pay off big time when you finally land that job you’ve been eyeing.
Pay off any outstanding debt
If you have any student or credit card debt looming overhead, now’s the time to really take control of your finances and get those debts paid off -- or at least drastically reduced. Starting off your adult life with a relatively clean slate can be very liberating, and also build your confidence knowing that you can handle money matters. Since the rent (or extra bills) you pay your parents is probably not as expensive as it would be on your own, use the difference to put toward debt.
Cut expenses you don’t need
Learn to navigate that very fine line between needs and wants. You should cut some expenses that aren’t necessary. Bring home-brewed coffee to work rather than that daily trip to Starbucks, cook your own meals rather than ordering out, do your own manicures and budget extra spending with your future in mind.
Set a deadline
Deadlines bring goals into focus. Set a deadline (it may be months, or even a year depending on the circumstances and the amount of money you can save) on when you plan to move out. Research apartment prices in areas you’re interested in moving to (and maybe ones that you aren’t -- you might be surprised!), calculate security and pet deposits, utilities, cable, etc. and budget yourself accordingly. Create a savings account primarily for the purpose of moving out and add a percentage of your paycheck to it each month. By having attainable and achievable goals that you commit to, your move will become a reality sooner than you think.
Moving out on your own is scary, but don’t worry, it was scary for your parents too. Talk to them about it. Rest assured they’ve made some financial mistakes themselves and it’s likely they want to help you get on your feet and teach you everything they’ve learned over time. Having that kind of un-biased guidance and advice is priceless. By setting yourself up responsibly now, your future will be that much brighter.
This article was written by Danielle Esposito. Danielle writes for multiple blogs including A-1 First Class Moving and Storage. A-1 First Class has been a reputable and trusted NY moving company since 1941. For more industry insights, see A-1’s blog on all things moving.