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Are you lingering in your parents’ house and thinking how to afford moving out
Before you rush the decision, did you ask yourself how to move out with no money
Perhaps it is not the wise decision to pursue at the moment
Your parents endure many sacrifices just to see you successful in your life
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Moving out in a way that causes you to incur debt won’t make them happy
I am sure about this feeling or at least I will speak about myself as a parent
Below I will discuss steps to consider before moving out and settle in your own home
1- Stick to a tight budget
First step on how to afford moving out is to stick to a budget
Your parents were paying the mortgage or rent without bothering you with details
I heard stories about sons who moved out from their parents’ home
Then they realized they are paying more than 40% of their income just to cover rent
So start now by learning how to create your own budget
And start helping your parents by paying some bills out of your own pocket
2- Set a timeline for moving out
Before you think how to afford moving out
You have to think about a timeline on when you will be able to take this action
There are so many factors that can affect your moving out date decision
It can be a new job you were accepted
Or it can be a matter of time till you save the first and last month rental deposit
Also you may need a solid credit score or guarantor
If your parents can help you to act as a guarantor – just check with them
3- Get a job or increase your income
I know it may sounds obvious but some graduate rush up the decision of moving out of their parents’ house
What I meant by that – they work a minimum salary job and because they seek the freedom they get themselves in trouble of falling into debt
They forget that they still have part of their students loan to pay
Start first by securing a job in your field of study and if necessary work another job
You are young and energetic so afford moving out with extra money in your pocket
The more you pay your student loan, the best for you in the long run
4- Find a roommate
If you cannot pay full rent in big cities then find a roommate
There is nothing wrong about that even if you get paid well
Think about a roommate so you can put your 50% saved in rental towards your student loan
5- Rent your room and pay your parents
Let’s say now you have a budget and you are very dedicated to this budget
You got a decent job and have a plan on how to afford moving out
This is something you have to do to show your parents how grateful you are
Speak to your parents and ask them to make a monthly contribution for your room
Make them feel responsible as I want you to remember the following
Your parents are still going to be your parents – no matter what
You will still keep the good relation and take care of them when they get old
I always believe in the way you treat your parents will be the way you will be treated when you get old
Finally, if you like this post then as a new graduate you may need to save money buying a new car
Make quick easy cash now
Survey Junkie - Earn up to $35 per survey
Rakuten - Cashback on shopping - $25 welcome bonus
Be Frugal - Earn $10 when you sign up
Flipper - buy cheap sell high and make huge profit
Acorns - turn your spare change into more money
Follow me for updates on quick cash programs
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