Starting my own life

Any helpful ideas?

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109 Replies - 3481 Views - Last Post: 15 April 2010 - 05:20 PM

#1 Holden117  Icon User is offline

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Starting my own life

Posted 10 April 2010 - 09:02 PM

Please no: "go away, we hate you"s or anything else you people might come up with. K, thanks.

I'm thinking of moving out soon, I graduated highschool early and have one full time job. I know I will need a room mate or a second job to come up with the money for it. The main thing I am trying to do is get away from my step-mom. I more or less live by myself here, the only difference is paying bills.

This post has been edited by Holden117: 10 April 2010 - 09:04 PM

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#2 no2pencil  Icon User is offline

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Re: Starting my own life

Posted 10 April 2010 - 09:04 PM

View PostHolden117, on 10 April 2010 - 10:02 PM, said:

I more or less live by myself here, the only difference is paying bills.

Paying bills is quite a difference. Do you have any sort of savings account, or something set aside?
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#3 Holden117  Icon User is offline

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Re: Starting my own life

Posted 10 April 2010 - 09:10 PM

View Postno2pencil, on 10 April 2010 - 08:04 PM, said:

View PostHolden117, on 10 April 2010 - 10:02 PM, said:

I more or less live by myself here, the only difference is paying bills.

Paying bills is quite a difference. Do you have any sort of savings account, or something set aside?

Yes to both. Not much right now but over time it will increase. I dont drive so I dont worry about car insurance/car payments. I can take city transportation and its cheaper as well. 2 dollars a day can get me just about anywhere where I live.
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#4 no2pencil  Icon User is offline

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Re: Starting my own life

Posted 10 April 2010 - 09:16 PM

The only advice I have is :

1.) Make sure once you move out you are able to do so without going back. Nothing sucks worse than having to give up.
2.) Don't get any credit cards! Maybe one with a manageable $500 balance for emergencies only.
3.) Stay out of a serious relationship for about six months until you get on your feet. No point in feeding two mouths when you are just starting to feed your own.
4.) Learn to cook. Fast food is shit, it will make you fat & it's horrible for you. Healthy fresh food is reasonably priced & cooking fresh, healthy food is a great way to stay healthy.

When I moved out I think I was paying $500 every 6 months for car insurance & I owned my own vehicle so no payments. It's easy to get on a pay-in-advance schedule & helped me to keep from living pay-check to pay-check.
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#5 Holden117  Icon User is offline

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Re: Starting my own life

Posted 10 April 2010 - 09:23 PM

Thanks, that is what I was looking for. I am trying to find a cheap place to live right now. I also might wait just a little longer untill my friend hets out of highschool as well. But I am told that living on your own is great and it tells you alot about yourself.
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#6 Sethro117  Icon User is offline

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Re: Starting my own life

Posted 10 April 2010 - 09:38 PM

Excuse me for anyt typos as Im a little bit drunk. But as a young person who movied away from home soon after high school then moved evenfurther away I' m somswhat of a seasoned veteran. dont know where Im going with that introduction.

Pretty mcuh what number2 said seems legit. Roommates can be beneficla financially butpersonally they might not be. People are different behind closed doors then out in pUblic and you dont get to see that part of a person until you're alreayd living with the,. So save up at least a months worth of wages, two would be better befoe movcing out. It ensures youree taken care of is anytjhing should cxome up unexpectedly.
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#7 no2pencil  Icon User is offline

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Re: Starting my own life

Posted 10 April 2010 - 09:40 PM

& on that note... please don't post while drinking :)

lol, just messing w/ you Sethro Toll. Just messing w/ you.
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#8 macosxnerd101  Icon User is online

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Re: Starting my own life

Posted 10 April 2010 - 10:18 PM

View Postno2pencil, on 11 April 2010 - 12:16 AM, said:

When I moved out I think I was paying $500 every 6 months for car insurance & I owned my own vehicle so no payments. It's easy to get on a pay-in-advance schedule & helped me to keep from living pay-check to pay-check.

On that note, work to reduce your debt and trim your budget. Honestly, debt sucks ass, though a certain amount of debt can be healthy for establishing/maintaining a good credit history and for tax benefits (ie., mortgage payments). However, if you are just getting out on your own, best to keep extra debt to a minimum as you will have enough of it with bills. You may consider doing things like clipping grocery coupons from the newspaper, internet, etc; forgoeing a landline and sticking to your cell phone, not going for premium packages with TV, etc.

The last suggestion I have is to save up $5000 and shove it in a 1 year Certificate of Deposit. By doing this, your money will not be liquid. If you choose to withdrawl early, you will get a penalty on the interest you are earning. By doing this, you will be ensuring yourself some cash reserves a year from now in addition to forcing yourself to save and rebuild your short-term reserves. In a year, your plans may change, and having that extra cash on hand can't hurt.
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#9 Gloin  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 03:43 AM

Don't move out early just to get out of your parents house, unless they threaten to kick you out. I got my own appartment when I was about your age but now afterwards, I would have chosen to live with my father until I was maybe 25 if I had the option to relive my life from that point.
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#10 Gloin  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 03:52 AM

Like no2pencil said, don't get a credit card. The harder it for you to get hold of your cash, the better. That means you won't spend it on unnecessay things until at least you saved up some reserves.
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#11 Skaggles  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 03:57 AM

View PostHolden117, on 10 April 2010 - 07:02 PM, said:

... the only difference is paying bills.


That's still a big difference. I didn't like my step-mother, but I put up with her because I knew that she wouldn't be in my life forever. My suggestion, and this is not knowing your situation entirely, is to stay with your parents at least until you finish college. Then when you move out you can have a much better prospect for a career than just jumping out after high school.
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#12 BenignDesign  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 04:04 AM

Even with a roommate, it's a totally different world out there on your own. For as much as you may have crunched numbers and said, "Yeah, I can afford it. The utilities won't be that bad," and, "I can live with $25 of extra spending money a month. That works out to... $6.25 per week. I can deal with that."

Ask yourself what happens if your utilities come up to be 15% more than you budgeted for? Or electric rates double? Or the place you're living isn't as well insulated as you had hoped and your heating and cooling bills go through the roof? What happens if your buddies want to go out every weekend? What if you need new underwear? Did you budget in money for laundry? If your roommate gets his girlfriend pregnant and moves out in a hurry, are you prepared to cover the entire cost of the apartment until another roommate can be found?

The big point I'm trying to make is don't let the twinkling, glittery enchantment of "being out on your own" cloud your judgment. Be 100% honest with yourself about how to handle bad situations and how to handle cash shortages.

I keep hearing everyone rattle on about "put back $5K so you have cash to fall back on..." WTF for kind of job did you have right out of school!?!

This post has been edited by BenignDesign: 11 April 2010 - 04:06 AM

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#13 Lava79  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 04:58 AM

Being on your own really does kick ass for the most part, but I agree 100% with what BenignDesign said. There are a lot of things that can and will come up that you didn't plan for. Wait a little while longer if you can (obviously, we don't know what your current situation is like) and save up everything you can. The better of a financial cushion you have, the easier it can make the transition to being out on your own.

Roomates are cool, but they can also completely screw you over in a heartbeat, and just because you like them, it doesn't necessarily mean that you can live with them. Keep that in mind. :bigsmile:

This post has been edited by Lava79: 11 April 2010 - 05:00 AM

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#14 baavgai  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 05:31 AM

Roommates can be a fiscal requirement. They can also be a huge liability. Choose with care.

I've had a single roommate, to as high as a row home with three other guys. When the concern is cash, and it always is or it wouldn't be worth putting up with other people, having a reliable roommate is a requirement. Having more than one lessens the impact of the other guy not cutting it.

I wouldn't wait for a buddy to get out of high school. I wouldn't even wait on a mate who's been thinking about it but is noncommittal. Find someone who's been living away from home for a bit and is looking for a plus one. Or friends when they're loosing someone.

Not to scare you. If you like your roommates, it can be a blast. Parties are a given. In one place we had a bar, with a tap, and full sized pool table. I recall one time my girlfriend sticking her head out the window to puke. She then started having a conversation with the guy on the first floor doing the same thing. Good times. :P
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#15 Holden117  Icon User is offline

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Re: Starting my own life

Posted 11 April 2010 - 10:56 AM

Thanks all. This helps me a bunch, right now I'm more thinking of paying my mom rent untill my parents sell the house. After that I'm moving with my dad, along with my brother. Also Im thinking of getting my own cell phone along with paying for it all. Start out with some small stuff then kinda work my way up. Right now I'm really going with the Navy for a job and education. The only thing holding me back on that is physical requirement and being off anti-deppresents and ADD meds. Both of which I have been off of foe about 3 months, I'm thinking that they might wave it when fall rolls around. But thats a wish. The rule on that in case you dont know is off prescribed meds for a year.

I'm kinda supprised that sloth has not said anything, considering he hates me and all.....

This post has been edited by Holden117: 11 April 2010 - 10:57 AM

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