Whether you are moving out on your own, with a partner or friend, or setting off for a few years at college or university, you will be filled with excitement at flying the nest. You finally can fully decide how late you can walk through the door or go to bed, and how messy your room can be before it needs a tidy. However, all too soon you may realize that your many years in school did not prepare for the independence that comes with becoming an adult. Suddenly, you’re also in charge of paying all your bills on time, checking your smoke detector has battery life and doing your own weekly food shopping. It can become intimidating and overwhelming when it gets to moving day, and it dawns on you that you will no longer be living with your parents and are fully in charge of the good, the bad, and the ugly life will inevitably throw at you. Here are a few tips on helping your transition into adulthood be as smooth and hiccup-free as possible.
Set of 12 Budget Worksheets
Budget
This is one of the most important things you will need to do when you move into your new accommodation. It can be easy to get lost in buying new furniture and trinkets to decorate your new place, and planning the best housewarming party of the year – but you will need to keep track of your finances if you don’t want to be caught short at the end of the month. Making a list of all bills and when they come out of your bank will determine your outgoings. Be sure to include money for petrol, food and other necessities to ensure you have an accurate determination of your disposable income.
It’s also a good idea at this point to include a percentage of your income that will be transferred to savings. This may not seem like a priority at the moment, but future you will be thanking your past self for starting to save early – especially if any surprise bills or car repairs come your way. Once you have an idea of how much money you have left – you will then need to determine what you will need for your new place. If it is unfurnished, you may find your budget doesn’t stretch to how much you need. Unfortunately, this does not mean you can cut into your bill money – this can become a nasty habit that leads to debt you don’t want.
Looking at charity stores, or buy and sell apps like the Dealdash iOS App can give you alternatives to the pricey new items you’ve been lusting over on Pinterest. Essentials are at the top of your priority list – you can always save for an upgrade on certain items as you become accustomed to budgeting and living by yourself.
Prioritize Your Spending
Following on from the last point, it is important to continuing budgeting and make a monthly habit out of it. Spending all your disposable income on the first weekend of the month on a night out will leave you no money for activities for the rest of the month. Life can get quite boring if you can’t afford to see your friends or pay for the budget-friendly hobbies that you love. So ensure you have a weekly budget that will spread your money out over a four week period. This will make sure you don’t have to miss your favorite Zumba class because you can’t afford it. And remember, just because it’s disposable doesn’t mean you have to spend it all. Any money left at the end of the month can be transferred into your savings.
Hopefully, this has helped you to feel a little more prepared for stepping out on your own. It is inevitable that you will make mistakes at first – you are only human – just be sure to learn from them and continue striving forward.
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