How do i go about moving out of my parents house?

I think its time for me to get the hell out of here. I am 21 years old and i am still in college with a couple years still to go. I pay for everything myself (food, school, gas, the works) the only thing i dont pay for is rent. My familly is also pretty damn poor. I have some credit cards out but they are in good condiotion, I have never missed a payment or anything like that. I have a job...but am about to get laid off ( you sears) so i am going to be looking for a new one...i also already have a room mate lined up.

So other than the simple...save money how do i go about setting in motion a ways to get the out of my house?

I dont have any money saved up now (all of it goes to bills)

Help!!?!?!

You really need to save up money. Shit happens and you don't want to be caught with your pants down and have to go crying back to mumsy and daddy.

A good idea would be first and last month's rent, a deposit, and at least a grand for a rainy day. Then, you'll probably have to convince your parents to co-sign on your first lease. Shop around(call for open houses, set up appointments, etc.), find a decent spot (no more than %50 of your monthly income) and sign the papers.

get up and get out. The hardest part is doing it. Once you get out you get wokken up to the real world. Bills suck. I wish I could live at home with mom and dad again. But hey the sex is much bettre in your own bed. Its hard to sneak around when mom and dad might come home

It may be a good idea to get a roommate to split the cost.

It may also be a shitty idea so don't hold me to it.

[quote name='TimPV3']It may be a good idea to get a roommate to split the cost.

It may also be a shitty idea so don't hold me to it.[/quote]

One of my best friends for about 13 years is going to be my roommate.

The hardest thing for me is for some reason i ahve the worst luck with jobs. This is the second time i have gotten laid of and i am not even 22 yet!!!

So now have to look for a new job all over again.

Here are some suggestions:

1) Your roommate should be splitting the rent with you to make it easier. If he refuses to do so expect to see some additional mooching if you two room together.

2) Get more money in your pocket or in a savings/checking account before getting your own place. Try and have about a month or two of rent on you, along with any additional starting-up costs, before striking out on your own.

3) Get out there on foot and ask places if they are hiring or if you can have an application, at least. Hit as many places as you can locally so you can save on travel expenses and, even if places aren't hiring, give them what you've got. You never know if and when they may need you and, if you hit a point where two places need you at once and they're both flexible and they both work for you, perhaps you can get some additional money under your belt.

4) Curb your spending. Yeah, I know, that's hard enough to do and CAG certainly helps a bit when it comes to saving, but you may have to go a few months where maybe a single game or two for $10 total are going to have to hold you.

5) Try not to eat out when you can help it. If you know how to cook and don't mind spending around $40 or $50 max to get some basic kitchen utensils and knick-nacks you will find yourself saving a hell of a lot of money with simple food shopping and prep. I did some budgeting myself this past year and noticed that my "home-cooked" meals usually cost around $4 a day (this is breakfast, lunch, and dinner, mind you) as far as food expenses were concerned whereas, if I were to eat on the go (frugally) it would average out to around $11 a day.

And with #5 I'm not talking about eating only ramen or whatnot. Various pasta dishes are easy to make, are voluminous, and various as well. That and they're sickeningly cheap if you shop around (and this is WITHOUT coupons). Buying meat on sale is also another cheap method as well. Back at school I was picking up a good few pounds of ground sirloin (Black Angus, at that), sausage, bacon, roast beef, and chicken whenever they would hit around 89 cents a pound to $2.59 a pound.

Roommate should definitely be paying half the rent. I'm hoping that's a given with the guy you have lined up. I know around here (back when I rented) a double would only be like 30% more than a single so having a roommate is a massive money saver. Not to mention utilities, etc. is less when you pay half even with two people consuming them.

Frankly, you might want to just sit tight with your folks until you find a new steady income. If you can't save any money while you are living rent free with your folks I don't know how you'll be able to swing paying rent on top of those living expenses. You really need to cut anything extra you're doing now and save some money.

I have no idea what rent runs in your area, but try saving at least that each month while living with your parents for a few more months and see how you do. That will also give you some savings.

[quote name='wubb']If you can't save any money while you are living rent free with your folks I don't know how you'll be able to swing paying rent on top of those living expenses. You really need to cut anything extra you're doing now and save some money. [/QUOTE]

Exactly. Without a steady job, how the hell are you going to move out? And you're having a hard time finding jobs.

Not trying to diss you or anything so please don't take it that way. I think it's great that you are managing to support yourself and work your way through school. I have a lot of respect for anyone that does that.

Open a savings account with ingdirect.com. Their savings account pays 4.15% with just one dollar to open (try finding that at a regular bank). Put every penny you don't need in there.

Also try hsbcdirect.com they have a similar rate as well.

However, you have to have a checking account at another bank in order to open an account with either.

[quote name='wubb']Roommate should definitely be paying half the rent. I'm hoping that's a given with the guy you have lined up. I know around here (back when I rented) a double would only be like 30% more than a single so having a roommate is a massive money saver. Not to mention utilities, etc. is less when you pay half even with two people consuming them.

Frankly, you might want to just sit tight with your folks until you find a new steady income. If you can't save any money while you are living rent free with your folks I don't know how you'll be able to swing paying rent on top of those living expenses. You really need to cut anything extra you're doing now and save some money.

I have no idea what rent runs in your area, but try saving at least that each month while living with your parents for a few more months and see how you do. That will also give you some savings.[/QUOTE]

You just spoke more wisdom to me then you will ever know.

Thank you.

STAY AT HOME AS LONG AS YOU CAN. I'm 23 and plan to stay with my parents til' I marry or turn 30 which ever comes first. Benefits......lets start....... 5k in checking.......75K in savings account (ingdirect.com)...........21K in my margin account (I like to swing trade alot especially ETFs)......19K in 401 K........24K in Roth IRA (I swing trade alot in there too)........782 FICO SCORE, HELL YA!!!!

Now, people my age living outside parent's house (at least the ones I know)....jacked up credit......paycheck to paycheck...... no savings.......haven't started saving for retirement yet......sad!

Like one my professors once said you don't get rich by following social conformity (in this case moving because "society" tells you its time to).

Roufuss - Wow! That just made my night

If you're a bit more adventurously responsible, consider buying a 2 unit apartment complex and rent it out to 2 more ppl in addition to your roommate. It'll help you do a couple of things:

- buying an apartment is a major responsibility and it reflects on your maturity
- owning a property (and using it as an investment) allows you a lot more economic freedom
- you don't have to pay the full amount of the property (unlike other investments) and if you structure it right, can have your tenants & roommate pay for the mortgage via their collected rent
- having a well-maintained property is seen as a good thing from banks & will lead to easier-to-obtain loans
- setting up a real estate management company allows you to make many deductions you wouldn't be able to make as a regular employee
- any money derived from rent, after paying any costs associated with the property (such as property tax, maintanence, etc.) can be directed to yourself and considered your salary)
- the real estate company you establish (which doesn't cost a lot) can replace most of your economic needs (provided you justify it using a journal as well as receipts) such as groceries, utilities, etc.
- tax refunds for a corporation are better than for an individual
- this property can be used as a jumping off point to purchasing more properties (or investments) and increasing your net worth as well as establishing an investment portfolio

[quote name='wubb']Roufuss - Wow! That just made my night [/QUOTE]

It's just I'm in the same position as Soodmeg... I'm 23, still in college, got laid off awhile ago but have been supporting myself through Ebay (it pays what bills I have, with a little on the side), and got offered a chance to move in with a friend.

I've been feeling shitty about it for a week or so now, and your post (along with Dberuvides) hit the nail right on the head.

What is the point of moving out, if my parents don't bother me at all and I pay for my own shit? To live paycheck to paycheck, scramble to find some sort of job, end up selling my own stuff just to make due.

I think if I'm going to move out with somebody, it's going to be my girlfriend, and the two of us need to get stable jobs and start saving. Your post just enlightened me so much to that.

I was in the same situation as Soodmeg... how do I get the ball rolling, how do I tell my parents? I didn't tell them yet, and you know why? Because I know they would call me on all the same stuff that was in your post, Wubb.

A little addition to what others are saying:

If you are about to lose your job and don't know when you will get a new one, plus your parents aren't the richest people in the world, I would say stay at home for now.

You don't have a steady income and you don't know for sure when you will have one after you lose your job. Which means you have guaranteed way of paying rent. Also if you move into a new apartment and you cannot afford the rent, and by chance have to mooch of your parents, then that will be a greater economic burden to them than you are now. Right now you are integrated into their budget, but if you move out they'll most likely still be feeding you some of the time and helping with laundry when you visit and such, and if they have to help pay rent for you it may be hard to find the extra cash.

I would, as you and others have said, just stick where you are and save your cash for now. Wait until you save up a good about and know you can be finacially independent enough and secure in your job.


And one more little suggestion...

Don't live with your best friend!!!

Yes, it sounds cool and awesome and fun now, in theory. Remember, in theory, communism works...in theory[/Simpsons quote].

I have heard about and seen first hand way too many best friends broken apart by living together. I know it's a cliche thing to say that everyone warns you about, but you and your best friend have known each other for 13 years. Nothing could break you two apart...except living together. Bills, rent, mooching and the little ing annoying things you never really minded/knew about each other will all come out and destroy you two. I know it looks good on paper and you think you'll have an awesome time. You will for the first little while, then you'll never speak to him again.

If you like your friend, then don't be roommates with him.

I'm in a similar position that you're in, OP...

Fortunately for me, I got a too-good-to-pass-up deal and I'm going to make the most of it. A buddy of mine (who has since moved away for college) used to live in a duplex with his parents. They actually own the place. The other half is now going to be open, and he's offering it to us... three bedroom for $600 a month -- including utilities! So really, I'm going to get by on like $300 (or less) for rent (with cable, internet...etc). Yeah, there are a lot of other things to factor in (food, gas, phone), but I know I'm fortunate enough to be in a situation where I'm saving a lot of money. Rent is expensive, but I guess I lucked out in some sense.

And then as far as moving out goes... that's really a personal decision. I'm going to be 21 next summer. That means going to bars, getting drunk, bring a girl home every once in a while. Do I want to do this in my parents house? Of course not. I feel like I fit the "big gamer/computer nerd, still-in-his-parents-basement" cliche way too much, so I'm going to shed that. Moving out is a right of passage; it's growing up and supporting yourself.

It's going to suck having to work the 25-30 hour weeks I'm going to have to while going to college, but at least I'll feel confident in knowing that I'm moving closer and closer to independence!

i'd start with boxes and a vehicle...also a new place to move in to helps.

edit: in all seriousness...i just read the part about not having money saved up. prepare to be poor for a while. moving out adds up fast the first year. make friends with craigslist. people's cheap old junk is your new furniture and dishes and tv. cut corners everywhere you can for the first few months until you can save money. live at home as long as you can stand it and start saving while you're not paying hundreds in rent.

If you need to save money, stay at home with your parents until you land a steady job. You'll need at least 2-months rent saved before you move (you'll be required to put down at least a month's rent for a security deposit).

If you're living at home, what bills do you have to pay (other than school and credit cards)? Cut out any extra expenses you can live without.

I hope that you and your friend can remain friends once you move into a place together. Having to share bills and other expenses can seriously stress a relationship.

Oh, and to save money...STOP BUYING GAMES!!!

First if you don't pay rent and do not have any money saved up, you're in a world of trouble. Second if your family is poor what the hell are you not paying rent you ingrateful son ( unless you are helping them with groceries or bills) Also if you have bad luck with jobs I would not recommend moving out since you could get fired again and then what.

God damn. Thanks guys. Seriouly....those were very very good responses and they helped me very much.

Thanks again...i will be taking alot of this to heart and deciding what i will do soon.

Get those rental applications in, if you're lucky there won't be a waiting list like with my crapshoot apartments. Good luck