It looks like I am going to be moving of out the parents house in the next couple of weeks if I get my new job. I live in SC, and would be moving to Cocoa Beach, FL. I am also going to have to get a new car soon. To be honest, I'm fucking scared I'll get out and fall flat on my ass. I am a very independed and responsible person, but if I lose my job (contracting) I'll be screwed, living back with my parents, no car, and fucked up credit. Any advice? Is this just one of those things you have to do and hope for the best?
Moving Out
- Thread starter dmb8485
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dollface007
Literotica Guru
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Congrats! This is a big step, and the fact that you are a bit scared shows your maturity level. You should be cautious. It's very very common for young adults to end up back with their parents after they've moved out. If you have a great relationship with your parents and don't mind living with them, that's great. But I think most twenty-somethings like their independence...even if it's difficult can get lonely at times.
A few things off the top of my head:
First of all, LIVE WITHIN YOUR MEANS. This means that you don't buy anything you can't afford. Don't worry about having the latest model cell phone or buy $200 worth of dvds a month if you can't afford them.
Pay your bills as soon as you get them in the mail.
Don't buy things on credit that you can't pay off IN FULL when the credit card bill comes. I made the mistake of accumulating credit card debt and I'll be literally paying for that mistake for the next few years to come.
Don't buy a new car. Yeah, it's really nice to have a brand new car. I even bought a new car once. But now I regret it. New cars plummet in value the second your foot hits the gas. Go to a reputable dealership and get a good quality slightly used model. Also, shop around for low-interest car loans. Don't just take the loan the dealer offers you. Also, a good driving record and good credit will keep your insurance rates lower.
Save save save! Ideally, you should have 6 months salary saved up in case you lose your job. That's a lot of money, but saving the money will save you from having to move back in w/mom and dad.
There is so much to learn about credit, debt, savings, and finances that no one, not even our parents, teaches us about. I'm going to make a strong recommendation for any book you can find by Suze Orman. Her books teach you technically how to handle your money, but they also teach you how to approach money emotionally so that you don't end up in over your head. I have her book "9 Steps to Financial Freedom" which is sort of a basic guide to finances. I believe she has a new book called "Young, Fabulous, and Broke" which I haven't read yet, but I'll be sure to pick up...and it sounds like it's right up your alley. I'm serious, you should read her books.
Did I mention, you should read books by Suze Orman?
A few things off the top of my head:
First of all, LIVE WITHIN YOUR MEANS. This means that you don't buy anything you can't afford. Don't worry about having the latest model cell phone or buy $200 worth of dvds a month if you can't afford them.
Pay your bills as soon as you get them in the mail.
Don't buy things on credit that you can't pay off IN FULL when the credit card bill comes. I made the mistake of accumulating credit card debt and I'll be literally paying for that mistake for the next few years to come.
Don't buy a new car. Yeah, it's really nice to have a brand new car. I even bought a new car once. But now I regret it. New cars plummet in value the second your foot hits the gas. Go to a reputable dealership and get a good quality slightly used model. Also, shop around for low-interest car loans. Don't just take the loan the dealer offers you. Also, a good driving record and good credit will keep your insurance rates lower.
Save save save! Ideally, you should have 6 months salary saved up in case you lose your job. That's a lot of money, but saving the money will save you from having to move back in w/mom and dad.
There is so much to learn about credit, debt, savings, and finances that no one, not even our parents, teaches us about. I'm going to make a strong recommendation for any book you can find by Suze Orman. Her books teach you technically how to handle your money, but they also teach you how to approach money emotionally so that you don't end up in over your head. I have her book "9 Steps to Financial Freedom" which is sort of a basic guide to finances. I believe she has a new book called "Young, Fabulous, and Broke" which I haven't read yet, but I'll be sure to pick up...and it sounds like it's right up your alley. I'm serious, you should read her books.
Did I mention, you should read books by Suze Orman?
Thanks for all the replies. I already have a budget made out. I do owe about $900 on my credit card, but I plan to debt free in a year. (I also owe my parents some money) I wanted to be debt free, and have a few months salary saved before I left, but it looks like I'm about to lose my current job, and need to take this one in Florida if I get it.
Munachi
Sumaq Sipas
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well it is scary, but other people have managed before... and believe me, once you notice it works living by yourself, managing your own stuff, etc. - you will also realize it is great to finally be independent (of course me saying that i am not really that independent yet... but in parts and that independence i have i woulnd't want to give up again for anything...)
Ezzy
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- Apr 16, 2000
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- 2,252
Rent the biggest place you can with the most bedrooms, make sure you can sublet, rent out the other rooms, if you can find an area near either a school or a hospital both always need rooms for staff or students.
Buy a good cheap car or truck DON'T lease!
Save your money buy property, buy it cheap do it up, rent it out, keep going. When you have an income stream that means you don't have to go out to earn a crust, you are well enough off to keep doing it and live on the profits.
Buy a good cheap car or truck DON'T lease!
Save your money buy property, buy it cheap do it up, rent it out, keep going. When you have an income stream that means you don't have to go out to earn a crust, you are well enough off to keep doing it and live on the profits.
dollface007
Literotica Guru
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Ezzy said:
One step at a time, Ezzy. dmb has to get out of debt before he becomes a real estate tycoon. And yeah, subleting a rental like that is illegal in most places, and renting to students is not the most reliable source of income if you don't have the law & the business know-how to back it up. He's asking how to keep his head above water, and making large risky investments right away is not the road he should be taking. Maybe a few years down the road when he has his ducks in a row....and after the real estate bubble bursts so he can buy up all those forclosed properties.
You're right about leasing a car, though. It's just a bad idea purely on principle.
Undomiel
Really Experienced
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I moved out at 17 cause I was starting college. My parents support me for the college year and my grant pays the rent. But in the summer I pretty much have to support myself. My rents still give me a little bit towards food. What they don't know is I'm saving up most of my money so I can give them €2000 at the end of the summer. Its half a loan they payed for me and weren't expecting me to pay it back any time soon. I just write down every little thing I spend money on to make sure I don't spend too much. But I've always been good at saving. Don't know what I'd do if was completly on my own though. I love living away from home.
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