Tips For Moving Out Of Your Parent's Home For The First Time
According to Fortune, more adults are moving back in with their parents after college to save money for a place of their own and because of debt caused by the pandemic. Because of this, the average person decides to move from their parent's home and into their own between 25 and 26 years old (of course, this varies person-to-person). No matter which age you choose to leave, moving out of your parents' home is a big step. It's one of the first times you get to showcase your independence and start making decisions on your own. There's no one to enforce a curfew or tell you that you can't have cookies for breakfast. It's exciting!
However, there are challenges nearly everyone faces when moving out for the first time that you may not know how to navigate, from budgeting to planning the big move. Fortunately, we have compiled a list of tips and tricks to make your move from your parents' home an easier one. Let's take a look so you can get started on your journey!
1. Start Saving Up
One of the biggest challenges of moving out on your own is figuring out how much money to save ... but where do you start? It's a good idea to start by putting money aside into a small emergency fund of about $1,000 to $2,000. Once that emergency fund is in place, it's time to start saving around three to six months of living expenses, according to The Balance, before the big move.
2. Learn How to Budget
As we all know, nothing in life is free, so whether you're moving into an apartment or your very own home, it's important to establish and stick to a budget, which, Bank of America says, requires knowing how much money you have coming in, how much you'll have going out, and a plan on how to keep these balanced. It's important that you understand your cost of living, which, according to Bankrate, includes food expenses, housing costs, and even health care expenses. You may want to budget for fun activities, like shopping or going out to dinner, too!
3. Practice Good Habits
Growing up, you've probably had your parents tell you that they won't always be there to pick up after you, and they're right! Sure, living on your own means more freedom, but it also means more responsibility. While you're still living at home with your parents, it's a good time to practice good habits, like those discussed on ReallyMoving, such as washing your own dishes or (finally) learning how to do your own laundry. This is also another chance to practice budgeting. Remember, practice makes perfect.
4. Decide If You Want a Roommate
One of the biggest decisions you'll make in the moving-out process is whether or not you want to live with a roommate. Of course, there are pros and cons to each, so it's important you weigh them before making a decision, says Rent.com. For example, having a roommate means cutting costs on rent and utilities by splitting the bills; however, roommates may miss payments, which can cost you in the long run (and, in extreme cases, may even lead to eviction or the power company turning off your lights).
5. Prepare Yourself Mentally and Emotionally
Leaving the nest for the first time is not only a financial journey–it can be an emotional one as well. You may have anxiety about living away from your family or wondering if you really are ready to move out. Moving anxiety is extremely common among first-time movers, so keep in mind that you're not alone. To help ease your mind, M1 Psychology says to make a list of your concerns and address them individually, and remember that it's okay to ask for help.
6. Solidify Your Moving Plans
Now that you've decided where you're moving, it's time to figure out when and how you're moving! This is essentially the most important step in your moving-out journey, so make sure you have everything ready for when the big day rolls around. To get started, set a moving date, which, Suddath says, requires a few considerations, and coordinate with professional movers (or, if you want to save a few bucks, ask friends or family for their help). By sticking to this date, you force yourself to get all of your affairs in order to avoid last-minute panic.