Whatever the reason millennial’s tend to have an issue with leaving their parent’s homes. So, it would be beneficial to make some sort of a Millennial’s guide to moving out of your parent’s home as help for millennial’s. Moving out of the parent’s home and heading to NYC can be even more intimidating so let’s try to make a short guide on how to prepare and step into this unknown.
How to start living independently
Moving out and living independently, by yourself or even a roommate may be intimidating. One of the dominant reasons for avoiding the process of moving out is finances. So how to overcome this issue and take the step to independence. There might be a few steps to follow to prepare and gain insight before taking the step:
- pay your fair share
- find a job
- set a moving deadline
- change your habits.
Pay your share – finances
Nowadays we are experiencing problems with regards to millennial’s living too long with their parents. Statistics show that more and more people are continuing their life in their parents’ homes long after college. Some are even overstaying their welcome. The reasons might be different, from the inability to find a job in a poor job market, decreasing wages, or increasing the cost of living.
Before stepping into financial independence and pulling your own weight it’s wise to get accustomed to the requirements of living away from home. Millennials should try to get accustomed to paying rent and bills prior to moving out. It is good to make an arrangement to contribute financially within your parent’s household to get a sense of obligation and the expenses that living alone requires. This also means taking part in performing choirs and being helpful around the house.
Another idea is to start putting aside money as if you are paying rent and expenses. This will help you get a feel for budgeting and balancing the living expenses and also make a fund for moving out of your parent’s home when you get ready for a long-distance move ahead.
Find a job
Be proactive in searching for a job. It is good to start job searching as soon as possible. This will help you get the feel of what employers need and require. Even if you are not successful at first you will be able to assess the needs of the market and adapt to them. Besides taking a few courses that would make you more employable and desirable to employers in the future and it will be good to gather experience in job interviewing
Set a moving deadline
Once you decide on moving out, it’s good to set the deadline and stick to it. Be realistic and make a deadline by which you can make all of the necessary financial preparations. You should assess the initial moving expenses, furniture cost, security deposits and save up for at least the first month’s rent. Also start an apartment search to get a sense of the living costs and to adjust your estimates.
Be realistic – change your habits
When living alone it’s crucial to plan your budget realistically. At least, in the beginning, try to save up by rethinking your habits in terms of expenses. For example, try to cook instead of eating out. Think of the groceries and other supplies you will need during the month instead of paying for an expensive gym membership or partying out.
Try to be realistic and rational in order to be able to be self-sufficient financially. You should also consider having a roommate if you can’t handle the rent and other expenses yourself.
Ask for help and advice
Moving out does not mean to cut all relations with your parents. It is important to realize that you have the net to fall back on if you need help or can’t succeed. Always try to get financial advice from your parents and even try to get loans from them if you are in trouble. As you get more and more self-sufficient try to learn from your mistakes as well as to gather knowledge from their mistakes and successes.
The best time to move out is – now!
So, moving out and starting your own life can be difficult and intimidating but it is not impossible. If you are a Millennial all you have to do is make the decision and stick to it. There is plenty of advice, guides but there is also help as support. Try to be proactive, learn and gather experience to get more confident when you take the first step moving out of your parent’s home.