School is out and graduation parties are happening, the next step for High School graduates is usually to find a place of their own. Some teens can’t wait to move out and be on their own but have they considered the costs, the plan for their future or what being an actual adult consists of? Here’s a few tips for teens moving out on their own.
We posted this question on our Facebook page. Here are the tips which were shared by our readers.
“Don’t blow your money. You don’t need 734 pairs of shoes, 87 video games, or 314 purses. Put away some money, start investing.” – Erica H.
“Cash only, no credit cards!” – Brenda W.
“Be realistic about what you can afford. Make sacrifices on what you think you really need, in lieu of charging up credit card debt. You will not have everything your parents have when you’re just starting your independent life.” – Kay C.
“Life is expensive. Have a BIG cushion in the bank. Live VERY much within your means. Participate in your employer retirement plan, if applicable.” – Colleen S.
“Don’t do it. Be a child. Live with your parents for as long as they will allow you to. That being said, as you are living with them, have a job (do not be a mooch) and save, save, save and be realistic when you do move.” – Ali P.
“Take credit and scores very seriously.” – Kellye M.
“Don’t burn those bridges….You may need to cross back over them one day.” – Carol D.
“Save as much money as possible before moving out on your own. Be respectful to your parents, you might need them again.” – Lynette M.
“Learn the Dave Ramsey plan! Invest your money early!” – Patricia A.
“Live humbly, by the basics! You don’t have to have the newest, latest & greatest of anything. It is alright to have a credit card, use it wisely & w/dicipline! Make sure you pay it back! Shop consignment & thrift stores. Take a budget & coupon class! Always invest in yourself! Buy an IRA!” – Thereza M.
“Consider job benefits when applying for those first entry level jobs – free cell phone, tuition reimbursement, free or low cost health insurance – it’ll stretch your budget farther. Invite friends over to hang out instead going to bars/ clubs, you can blow a whole paycheck drinking and eating out but pizza and a 6 pack of beer rarely cost more than $20 and you actually get to have conversation!” – Samantha M.
I love tips from other moms who have already been through this. It takes a village and so listening to them can really make a difference.