How to Move Away from Home at 18 with No Money

Thứ sáu - 26/04/2024 23:11
Move into your own place without breaking the bankIf you're ready to move out at 18 years old, but don't know where to start, you've come to the right place! Although moving out of your family home can seem daunting, with a little...
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If you’re ready to move out at 18 years old, but don’t know where to start, you’ve come to the right place! Although moving out of your family home can seem daunting, with a little planning, you too can make that transition to adulthood without breaking the bank. In this article, we’ll give you the ultimate guide to moving out affordably to make sure your moving plans go as smoothly as possible.

Things You Should Know

  • Create a plan at least 6 months in advance to get a job, save money, build your credit, and figure out where you’re going to move to.
  • Open checking and savings accounts, create a monthly budget based on your income, and try to save 3-6 months of living expenses before moving out.
  • Tell your family your plans, find housing in your budget, and set up your utilities.

Get a job or side hustle.

  1. Apply for a job that will give you enough money each month to live off of.
    If you’re still in school, working after school and during weekends can help you make money that you can save for when you move out. You can also get a side hustle to explore potential business ideas and earn a little extra cash on the side. Here are some ideas for side hustles to get you started:[1]
    • Become a freelance writer
    • Pet-sit for your neighbors
    • Walk dogs in your neighborhood
    • Start a blog
    • Deliver food
    • Tutor students
    • Babysit or perform in-home childcare
    • Self-publish ebooks
    • Start a YouTube channel or live stream on Twitch
    • Sell homemade products online or at local markets
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Open a bank account.

  1. Open a checking and a savings account.
    Opening a bank account is a great way to keep track of your income and keep your money safe. Get a recommendation from a friend or family member for a bank or credit union they trust. Ask the bank what fees they charge, if they have online bill payment or a mobile app, and what interest they pay for savings accounts.[2]
    • When you go to open an account, you generally will want to take your social security card or another government-issued identification number, a driver’s license or passport, and either a bill with your name and address on it, your birth certificate, or your social security card.
    • You usually need to make an initial deposit between $25 to $100 to open a savings or checking account, so make sure you take money with you beforehand.
    • Look for a credit card that will earn you cash back on gas or groceries to help you save a little extra money.

Create a monthly budget.

  1. Make a list with your income and expenses.
    Creating a budget can help you figure out how you spend your money each month and limit any expenses that might be eating away at your savings. To see how you’re currently spending, write down all of your expenses for the month, add them up, and subtract them from how much money you’re making.[3]
    • You could also get a budgeting app that does the math for you, such as Mint or Empower.
    • Every month, write down how much you’ll earn and how much you’d like to spend. Write down what you spend every day and at the end of the month see if you spent what you planned to—this can help you plan the next month’s budget.
    • Even if you don’t have a job yet, keeping track of your expenses can help you be mindful of how you’re using your money so you’ll feel more financially ready when you move out.
    • Most rentals will have you pay a security deposit along with the first and/or last month’s rent upfront, so be prepared to have money saved in advance.
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Save money.

  1. Try to save at least 3-6 months of living expenses before moving out.
    Saving money not only allows you to have a cushion for unexpected expenses like car repairs or medical emergencies, but it can pay for housing when you move out. Try to put 20% of your income into savings per month to help you save up for the big day. Here are some additional ways you can save money:[4]
    • Cancel any unnecessary or unused subscriptions to streaming services, publications, etc.
    • Prepare and eat meals at home instead of going out.
    • Go grocery shopping with a list to avoid impulse buying.
    • Get a library card to check out books, movies, audiobooks, or board games. Some even offer household tools or free passes to museums and other attractions.
    • Look for free entertainment in your area. Many towns will have events, such as free concerts or local festivals that you can attend without paying an admission fee.
    • Buy generic brands instead of name brands at the grocery store.

Build your credit score.

  1. Build up your credit history to be eligible for loans and other financial products.
    Some milestones in life, like renting an apartment, can require you to have a credit score. Here are some ways that you can boost your credit score right now:[5]
    • Apply for a secured credit card, which requires you to make a refundable security deposit, and the amount you pay determines your credit limit. You can boost your credit score by repaying what you put on this card.
    • Pay off your credit card debt in full each month. Avoid hitting the total limit, or it could bring down your credit score. Instead, using your card to make small purchases like buying gas or groceries and paying it off quickly can help increase your credit score.
    • Become an authorized user on a family member or friend’s credit card so you can benefit from the primary account holder’s credit and establish your own credit history.
    • Aim to get a credit score above 620 before you move out to help get your rental application approved and prevent you from paying more upfront.
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Build your basic life skills.

  1. Work on your life skills ahead of your move-in date.
    Moving out can make you feel incredibly independent, but it can be daunting if you’re not sure how to cook for yourself, clean the house, do laundry, grocery shop, or make appointments. Don’t worry! Everyone starts from somewhere. Here is a complete list of skills you can start learning to prepare you for moving day:[6]
    • Eat healthy
    • Wash dishes by hand or using a dishwasher
    • Cook for yourself
    • Clean a house or apartment
    • Go grocery shopping
    • Do your laundry
    • Improve your time management skills
    • Solve issues quickly and calmly

Tell your family that you’re moving out.

  1. Sit your family down and tell them your plans for moving out.
    Telling your parents that you’re moving out can seem scary, but their support might help you when you’re setting up your bills and applying for a place to live. Prepare a plan to show them in advance, including your budget, when the move will take place, and what area you’ll be moving to.[7]
    • Telling your family you’re leaving can make them feel less important in your life, so be sure to involve them in the moving process to make them feel loved and involved.
    • Allow your family to have their own emotions, and give them plenty of space to work through the news if they need it.
    • Try not to keep moving out a secret from your family—if something goes wrong you might also be able to move back in with them for a while while you sort things out.
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Move any existing bills to your name.

  1. Switch whatever bills you have with your family to your name.
    If your phone or car insurance is part of a larger family plan, look into switching to a cheap individual plan. Shop around for the lowest rate, and if you’re able to, ask your primary account holder to help you make the switch.[8]
    • If you have a phone on a shared family plan, consider switching to a cheap and reliable phone service on your own. Compare plans offered by companies like AT&T Wireless, T-Mobile, Verizon Wireless, Boost Mobile, or Mint Mobile and choose the one that works best for you.[9]
    • Ask for a free quote from car insurance companies like Allstate, GEICO, Progressive, Liberty Mutual, or State Farm and choose the most affordable plan for you.[10]

Find reliable transportation.

  1. Figure out how you’ll travel back and forth to your job or school.
    Planning how you’ll go to work or school each day ahead of time can help you manage your time wisely and figure out how much you’ll spend on transportation each month on your own. If you don’t have a car, consider:
    • Carpooling with a friend and pooling your gas money.[11]
    • Riding a bike or scooter if the distance is short.
    • Getting a bus or train pass.
    • Buy a cheap used car from a certified dealer, and have a mechanic look it over after to make sure it’s working properly.
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Find housing in your budget.

  1. Aim to find rental housing that costs about a third of your monthly income.
    Calculate the limit of what you can afford by dividing how much you currently earn a month (without taking taxes into account) by 3. Explore the neighborhoods you’re thinking about living in and answer ad listings online to figure out how early you should be applying for places to live.[12]
    • Look online and in the local newspaper, or call a few property management companies to see what housing is available in your budget.
    • Tour at least 5 properties in the areas you’d like to live in.
    • Consider all the factors, including commute time, price, and the cost of utilities.
    • Many rental properties require you to have renter’s insurance before you move in, which protects your personal property and insures you if someone is injured on the property.[13]
    • If you’re worried about your credit score when applying, some landlords may instead allow you to pay 1 to 3 months of rent upfront as a security deposit. You can also apply with a cosigner who has a good credit score.
    • Read the lease carefully before signing, and if you have any questions, you can always ask the landlord to clarify.

Apply with roommates you already know well.

  1. If the cost of living is too high on your own, apply with a friend.
    Having a roommate can split the rent and living expenses. If possible, try to move in with someone you already know well with similar values and lifestyles to make the transition a little easier. Talk out your expectations early on and set boundaries—tell them what food or appliances are yours and what’s free rein for them to enjoy.[14]
    • If you’re attending school, your college or university might have off-campus housing boards where you can find someone to be your roommate.
    • Share responsibilities for the chores. Whether you create a chore chart, or just ask your roommate to clean up after they’re done with dinner, ensure that you and your roommate are both pulling weight to keep your space clean and organized.
    • Even if you and your new roomie are best friends, transitioning to a different living space can be difficult. Give your roommate a few hours to themselves each week and try to meet in the middle if their habits are causing conflict.
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Set up your utilities.

  1. Call your local utility companies at least two weeks before you move.
    If you pay utilities like water, gas, or electricity in your new place, ask friends, family, or people around the area which provider they’d recommend and compare prices. You can also ask your property manager if they have a preferred provider for any utilities you pay on your own.[15]
    • Most internet companies will base what they charge on how much network speed you need. If you’re not sure, try using this tool to find out.
    • If you watch cable TV, some network companies allow you to bundle your internet with your TV to save a little extra money.

Pack and take necessary items with you.

  1. A month before you move, begin packing what you’ll need.
    Start by packing things you use infrequently. Clearly label each box with what’s inside and what room it belongs in. Most leases end after 12 months, so you may have to move every year or two, so only take what’s absolutely necessary. Here are some of the things to take with you when you move out:[16]
    • Essential items like clothes, toiletries, pots and pans, kitchen utensils, cleaning supplies, towels, and bedding
    • Important documents like your driver’s license, passport, birth certificate, Social Security card, and insurance information
    • Your laptop, phone, television, or video game console
    • Small decorations, knick-knacks, or family photos
    • A toolbox with screwdrivers (flat head and Phillip's head), wrenches, a hammer, a measuring tape, pliers, a utility knife, and a level
    • A first aid kit and a flashlight for emergencies
    • A small amount of cash for unexpected expenses and emergencies
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Find furniture for your place.

  1. Fill your new home with your own stuff and low-cost housing goods.
    Reach out to family and friends to see if they have free furniture you can use for your place or join a Facebook local group to see if anyone’s giving items away. You can also go to thrift stores and find cheap dishes, pillows, chairs, and other decorations. Here are a few other ways to decorate your new home without breaking the bank:[17]
    • Join the Buy Nothing Project or Freecycle to see if anyone in your area has furniture they’re looking to give away.
    • Make a registry or create an Amazon wishlist so your friends and relatives can buy you furniture as a housewarming, birthday, or holiday present.
    • Search Craigslist or eBay for “OBO” (Our Best Offer) listings and ask if they’re willing to give their items to you for free.
    • Ask your parents for permission to take furniture items that you already have, such as your bed frame, mattress, or dresser.

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