3 Tips to Avoid Being Broke When You Move Out For the First Time

I don’t know about you, but growing up I was often told how the real world would slap me in the face when I moved out. We’re talking bills left and right, eating ramen and bread once a day, scraping pennies together to buy enough gas to get to my 12 hour shift at my minimum-wage job just to have enough money to repeat this life.

I know for some people this is the case, and it’s the way they have to live for a while. That’s fine, life is tough sometimes.

However, despite all these warnings, I managed to escape this life I was warned of. If you’re 14-19 (pre move-out age), these tips will help you do the same.

1. Save, Save, Save

Get a job.

Did you see this coming? Yeah, I bet you did.

I really don’t care what kind of job you have. The important part is that it pays, and that you can gain some soft skills, and hard skills if possible, from this job. This is important for your future.

The money you make from this job, you NEED to put it in a bank account, and then you don’t spend it.

For us job-holding people who are moved out and paying bills, the rule is to not spend more than you make. For you, a young person with no bills, (you still should avoid spending more than you have) the rule is barely spend anything.

Are you buying Starbucks or Dunkin’ Doughnuts every day with your friends before school?

Stop that. Get it from home or don’t drink it at all.

Did Grandma send you $20 for your birthday? Save it.

Do you see a shiny new piece of sports equipment at the mall? Put it on a birthday or Christmas gift list, explain to your parents why you legitimately need it, or think on it for a few weeks before buying it yourself.

Save. Your. Money. When. You. Have. No. Essential. Expenses.

I mean, always save your money as much as you can, but especially when you’re young.

Your future self with thank you.

2. Avoid Debt (This Might Include College)

Listen, if you intend to go to school for something you can learn online (whether for free for via a course) or through real-life experience, don’t go.

I had a job as a BDR (business development rep) a little while ago, and close to the end of my time there, the company was in the process of bringing on a new BDR. This guy had gone to college specifically to do the same job I was doing. I was (and still am) debt-free, younger than this guy, and already more successful.

Let me repeat that.

This man spent thousands of dollars to go to school for years to learn to do the thing I had taught myself in the few short months working there. He was starting his career in his early 20s with thousands of dollars of debt in the same role I was doing at 19, debt-free.

If you do plan on going to college, then Tip #1 will be crucial. You’ll need to be building up a savings to help pay for college, and will helpp

Avoid credit card debt your whole life. Pay your credit bill off in full every month and don’t spend more than you have.

Don’t start out your adult life with a debt you’ll have to carry on your shoulders your whole life.

3. Already Have a Steady Income Source

No matter how frustrating it is at home, do not leave until either you’re forced to or until you have a steady source of income. Most apartments won’t allow you to lease a space without providing proof of income anyway.

Before you leave, make sure you have enough monthly income to cover not only the cost of your rent, but also utilities, food, and “luxury” items like entertainment or eating out.

Your goal should be to not only have enough income to be putting a profit into the bank, but you should have enough saved up to sustain you for about 6 months should you loose your job before you move. And if you don’t, your first priority should be on building that financial cushion.

If you don’t value a social life or are just want some extra income, there are many side-hustles you can take up to provide that. Uber Eats, Doordash, Instacart, are all jobs where you can set your own schedule and how much money you make depends mostly on you, and all you need to do is set up an account and have a car.

If you can, get roommates to split the price of rent, utilities, furniture, and possibly groceries if you think that’s sustainable.

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If you’re planning on moving out of your parents house anytime soon, it is important to have enough money to avoid fear of having to move back in with your parents.

These tips will not only set you up for future financial success, they are also good general habits to build that will serve you well throughout life.

Comment below your favorite money-making or money-saving tip!