Oh what a scary and exciting time! You’re getting ready to leave the nest and make it out on your own. However, it can be difficult trying to figure out how much to save up when Mom and Dad have been footing all the bills. In terms of how much you need to initially save up, assume that you’ll have to put down both a security deposit and first month’s rent –so two month’s rent. Call up local cable and internet providers and inquire about monthly costs. If you join the same company, you might get a good deal for both. Heating might be included in the rent, but budget another $100 just in case.
Now it’s time to think about groceries, supplies, and furniture. It’s a good idea to start slowly acquiring supplies over a period of time before you actually move out so you’re not hit with the costs all at once. If you’re moving in with roommates, print out lists and divide up the supplies and furniture. It’s better to each buy one piece of large furniture rather than splitting it because when it’s time to move out again, you’ll be fighting over the comfy couch.
Lastly, don’t buy unnecessary items until you finished purchasing all the necessities. Stay organized and open a savings account to make saving even easier.