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Ready to move out of your parents’ house? Let’s calculate the costs

So, you’ve got that itch to move out of your parents’ house. Spreading your wings is a powerful one. It signifies independence, adulthood, and maybe even a little rebellion against those pesky curfews (we feel you).

You dream of having your own space, decorating it to your taste, and blasting your music without complaints (well, maybe besides the occasional thin wall). Moving out of your parents’ place and becoming independent sounds like a total blast – and it can be!

But before you pack your bags with dreams and ramen noodles, let’s get real about the financial nitty-gritty. Moving out on your own is an exciting adventure, but it’s also a financial undertaking that requires careful planning.

This guide will help you navigate the costs, plan effectively, and move out without the rude awakening of running back to mummy and daddy because you forgot how much laundry detergent costs.

The price tag of freedom when you move out

The exact cost of leaving the nest varies wildly depending on your location, lifestyle, and moving strategy. Here’s a breakdown of some key expenses to consider when you move out:

Rent and deposits

This is the big one. Factor in monthly rent, security deposit (often equal to a month’s rent), and potentially even a last month’s rent requirement. When you move out, depending on your landlord’s policy, you might be responsible for paying up to three months’ rent upfront!

Moving logistics

Hiring movers? Renting a truck? Bribing friends with pizza for their muscles? These costs add up quickly. The cost of getting your stuff from point A to point B when you move out can be significant, so factor in packing supplies, gas, or hiring muscle (with pizza as a peace offering, of course!).

Furnishing your pad

From beds to fridges, equipping your new home can be expensive. When you move out, you’ll need furniture and appliances to make your new place feel like home. Consider creative solutions like buying used furniture or borrowing from generous relatives (with a promise to return it in pristine condition!).


Electricity, water, internet – all essential, and all come with a monthly bill. Don’t forget to factor in the cost of utilities like electricity, water, and internet when you move out. These are essential expenses that add to your monthly costs.

Planning makes perfect before you move out

Here are some essential steps to take before taking flight:

1. Budgeting is bae

Create a realistic budget that factors in rent, utilities, groceries, transportation, and even fun money (because yes, you deserve it!). There are budgeting apps and online tools to help you crunch the numbers.

This will be your financial roadmap when you move out, so make sure it’s detailed and reflects your expected income and expenses.

2. Job hunting hustle

Moving out often means a new job that supports your independent lifestyle. Polish your resume, hit the pavement, and consider side hustles to pad your savings.

Finding a job that allows you to cover your expenses comfortably is crucial before you move out.

3. Talk it out

Discuss your financial plans with your parents or a trusted mentor. They may have valuable advice and might even be willing to offer a temporary safety net (with clear terms, of course!).

Open communication with your support system is key before you move out. They can offer guidance and potentially some financial assistance (with clear expectations) to help ease the transition.

More than just boxes: Settling in after you move out

Moving out isn’t just about the physical act of getting your stuff from point A to point B. It’s about building a new life with its own set of challenges and rewards.

While the initial excitement is high, settling in takes time and requires adjusting to new routines and potential hiccups along the way.

New routines, new realities: Welcome to Adulting 101 when you move out

Gone are the days of relying on mom or dad for the necessities of daily life. When you move out, here are some new routines and realities to embrace:

From laundry piles to clean clothes chronicles

The magic laundry gnomes officially retire! Washing, drying, and maybe even ironing (gasp!) become your responsibility.

Developing a laundry routine when you move out is essential to avoid living in a world of dirty clothes. Stock up on laundry detergent, learn to decipher fabric care labels, and be prepared to conquer those stubborn stains.

Mastering the art of meal prep

Say goodbye to those pre-made meals mom used to whip up. Budgeting for groceries and planning meals becomes an essential skill when you move out.

You’ll need to learn the art of meal prep, which involves planning your meals for the week, creating a grocery list, and sticking to your budget. This doesn’t mean you have to become a master chef overnight, but learning some basic cooking skills will save you money and keep you fuelled for your busy adulting adventures.

Budgeting bonanza: Taking control of your finances

Sticking to a budget goes from optional to crucial when you move out. You’ll be responsible for managing your entire financial picture, including rent, utilities, groceries, transportation, and that oh-so-tempting takeout!

Creating a realistic budget when you move out is key to financial independence. This will help you track your income and expenses, avoid overspending, and reach your financial goals (like that dream vacation or a new gadget). There are plenty of budgeting apps and online tools available to make this process easier.

Roommate romp (or rumble?): The delicate dance of shared living when you move out

Moving out often means sharing your space with roommates. This can be a fantastic way to split costs, combat loneliness, and create new friendships. However, it also introduces a whole new layer of adjustment:

Communication is key: The foundation of a happy coexistence

Living with others requires open and honest communication. Talk to your roommates about everything from chores and cleaning schedules to noise levels and guest policies.

Discuss expectations upfront and be prepared to compromise. Regularly checking in with each other when you move out helps to avoid misunderstandings and fosters a harmonious living environment.

Respecting boundaries: Your space, my space, our space

Sharing a living space means respecting each other’s personal space and belongings.

Establish clear boundaries around things like using each other’s stuff without permission, entering someone’s room unannounced, and respecting quiet times for studying or sleeping.

Be mindful of noise levels, especially during late nights or early mornings.

Negotiating noise: Finding the harmony between study sessions and jam sessions

Finding a balance for noise levels can be tricky when you move out and share an apartment with roommates. If someone has a late-night study session planned, while another wants to have an impromptu jam session, open communication is key.

Discuss noise limitations, designate quiet times, and be willing to compromise. Maybe invest in some headphones for individual enjoyment, or establish specific nights for louder activities.

Roommate ruckus: Resolving conflict when things get rocky

Disagreements are inevitable when living with others. The important thing is to address them constructively. If there’s a roommate ruckus brewing, try to talk things out calmly and respectfully.

Focus on finding solutions that work for everyone. If communication seems impossible, consider involving a neutral third party to mediate.

Remember, a little effort towards communication, respect, and compromise can turn a roommate romp into a rewarding experience when you move out and forge new friendships along the way.

Life happens: Unexpected hiccups when you move out

Living on your own comes with its own set of challenges that can test your adaptability:

Neighbourly noise

Thin walls or inconsiderate neighbours can disrupt your peace and quiet. Maybe your new neighbour loves heavy metal music, or has a barking dog that seems to have a grudge against bedtime.

When you move out, there’s no guarantee of a peaceful environment. Be prepared to have a polite conversation with your neighbour, or invest in some noise-cancelling headphones.

Landlord lowdown

Dealing with landlords can be a mixed bag. Be prepared to handle everything from repairs to unexpected policy changes. When you move out, your landlord becomes your point person for any issues with the property.

Be sure to understand your lease agreement thoroughly, and communicate openly with your landlord about any maintenance needs or concerns.

Crime and security

Security concerns might be heightened when living alone. Understanding your neighbourhood and taking precautions is important.

Moving out might mean living in a new area, and it’s important to be aware of crime rates and safety precautions. Research the neighbourhood before you move in, consider renter’s insurance, and be mindful of your surroundings.

Keeping your stuff safe

Unfortunately, theft can happen anywhere. Investing in renter’s insurance and being mindful of your belongings is wise.

Just because you left the nest, doesn’t mean your possessions are immune to sticky fingers. Secure your apartment, keep valuables out of sight, and consider renter’s insurance to provide some peace of mind.

Rent rollercoaster

The financial responsibility of rent can be a constant source of worry. Budgeting effectively and having a plan B for unexpected expenses can ease some of this stress.

Rent is likely to be your biggest monthly expense when you move out. Sticking to a budget, having a steady income, and having a financial safety net can help ease the worry of making rent every month.

Settling in is a journey, not a destination

Remember, feeling truly settled takes time. Be patient with yourself as you navigate these new experiences. There will be ups and downs, unexpected challenges, and moments where you might miss the comforts of home. But these are all part of the journey towards independence and self-reliance.

Embrace the challenges, learn from your mistakes, and enjoy the sense of accomplishment that comes with building your own little world. Every hurdle you overcome and every new skill you learn is a brick in the foundation of your future.

So, take a deep breath, celebrate your victories (big and small), and enjoy the adventure of living on your own!

Building your nest egg: Saving for a future home even when you move out

The dream of homeownership doesn’t have to disappear just because you’re moving out to rent your first place. Here are some strategies to save for a house while you’re enjoying your newfound independence:


Consider co-living with roommates to share rent and utilities. This can free up a significant portion of your income to save for a down payment on a house in the future.

Be frugal

Embrace home-cooked meals, free entertainment (parks, libraries!), and second-hand finds. Living frugally doesn’t have to mean sacrificing fun.

Explore cost-effective ways to enjoy your free time, and focus on quality over quantity when it comes to your belongings. Look for deals on furniture and appliances, or consider buying gently used items.

Prioritise savings

Set aside a fixed percentage of your income every month for a future down payment. Even if it’s a small amount to start, consistently saving will help your nest egg grow over time. There are automatic savings options available with many banks, so you can “pay yourself first” and watch your savings accumulate effortlessly.

Remember, every dollar saved today brings you a step closer to that dream house! Consider setting a specific savings goal and rewarding yourself when you reach milestones. This will help you stay motivated on your journey towards homeownership.

Financial finesse: Moving out and moving up

Living independently is a thrilling chapter in your life’s story. It’s a chance to spread your wings, explore your individuality, and create a space that truly reflects you. But amidst the excitement of moving out, it’s important to remember your long-term goals.

Financial responsibility is key to a secure and fulfilling future, and moving out doesn’t have to derail your dreams of homeownership or financial security.

This guide equips you with the tools to navigate the financial realities of living on your own, all while laying the groundwork for moving up the property ladder in the future. Remember, responsible financial planning is the key to unlocking your dreams, both big and small.

See also:

Adulting 101: Why financial planning now can set you up for life

Start a business and be your own boss: A guide for young entrepreneurs

Why remote work rocks for young adults: Ditch the commute, embrace the flexibility

Why insurance for young adults is a smart move

Your first car: The ultimate guide to the perfect ride

Crafting your ideal resume: A guide for young professionals

Life after O levels: A world of opportunities awaits

10 Real-world uses of algebra in everyday life

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