2 answers
Ava
Student
New Bedford, Massachusetts
16
Questions
Asked
166 views
money I need to move out
I want to move out at 18 im 16 and a half now how much money should I put aside for moving out for when I am 18 I have a year and a half whats the goal I should be looking for. im not getting any help from anyone when I move out
Login to comment
2 answers
Kim Igleheart
Career Counselor | Police Officer
1738
Answers
San Antonio, Texas
Updated
Kim’s Answer
Ava,
Wanting to move out is a very common teenage goal!
I fear it may be difficult to do at 18, but, let's take a look. . . do you have anyone you can rent a room from, or share an apartment with? Do you currently have any bills you are responsible for paying? (cell phone, car, etc). Do you have established credit? That is, can you prove that you are a good risk - you pay your bills, in full, and on-time? Apartments may not want to rent to you if you don't. You will also need a job that pays a certain percentage more than the rent.
It appears the rent for a basic one bedroom/one bath apartment in your area is about $1000 a month. There are many options available, including apartments where you have a private room but have to share the kitchen and bathroom with other tenants. It is common for apartments to want your income to be 2-3 x higher than the rent. Also expect to make a security deposit (at least $200, maybe more), a pet deposit if you have a pet, and to have to pay the first month, and possibly last month rent up-front.
You will need to find out if utilities are included or if you have to pay them separately. if so, you will need to open accounts with the utility departments (water/gas/electric) and give them deposits as well.
If you can rely on public transportation, and don't have a pet (except maybe goldfish?) that will keep your costs down. pets are expensive. Extremely!
You are young, and at your age we don't think about getting sick, but. . . things happen. If you are working, you will want health insurance, and, if possible, disability insurance.
Now, about furniture, clothing, groceries, haircuts, etc. I know Massachusetts is expensive, so I can't even begin to give you these numbers. If you are creative, you can do a lot to furnish the apartment from second-hand stores. But, you really don't want a used mattress! I remember when I moved out, and I went shopping simply for cleaning supplies, how shocked I was at the price!
So, to answer your question: Assuming the apartment is $1000/month, with a $200 security deposit, and they want two months rent up front, that's $2200. And let's add $300 to that for utility deposits (not sure on this). That's $2500. Furnishing the apartment? Furniture, dishes, towels, pots and pans, even if getting as much as possible through thrift stores, I'd budget $2500. And another $500 for first time grocery shopping - stocking up on flour, sugar, spices, canned goods, etc. So, honestly, at least $5000.
Beyond that, do you have a monthly budget worked out? You would want to find out average utility bills for apartments. Winters can get expensive. Do you have an emergency fund set up? It is advisable to have in savings at least enough money to cover 3 months of living expenses, so if emergencies come up, you can pay your own way rather than using credit cards (suppose a tooth needs to be pulled?)
Now, having said all that, I will simply say this. Economically, it's not easy out there right now. If your situation is tolerable at home, and if you can stay home and build up some savings, maybe go to school, that would be to your advantage. If not, I understand. Another alternative is to consider military enlistment. You get away from home, get to travel, get some good training, and get a paycheck. Something to think about!
I wish you the best as you plan for this big day!
Kim
Wanting to move out is a very common teenage goal!
I fear it may be difficult to do at 18, but, let's take a look. . . do you have anyone you can rent a room from, or share an apartment with? Do you currently have any bills you are responsible for paying? (cell phone, car, etc). Do you have established credit? That is, can you prove that you are a good risk - you pay your bills, in full, and on-time? Apartments may not want to rent to you if you don't. You will also need a job that pays a certain percentage more than the rent.
It appears the rent for a basic one bedroom/one bath apartment in your area is about $1000 a month. There are many options available, including apartments where you have a private room but have to share the kitchen and bathroom with other tenants. It is common for apartments to want your income to be 2-3 x higher than the rent. Also expect to make a security deposit (at least $200, maybe more), a pet deposit if you have a pet, and to have to pay the first month, and possibly last month rent up-front.
You will need to find out if utilities are included or if you have to pay them separately. if so, you will need to open accounts with the utility departments (water/gas/electric) and give them deposits as well.
If you can rely on public transportation, and don't have a pet (except maybe goldfish?) that will keep your costs down. pets are expensive. Extremely!
You are young, and at your age we don't think about getting sick, but. . . things happen. If you are working, you will want health insurance, and, if possible, disability insurance.
Now, about furniture, clothing, groceries, haircuts, etc. I know Massachusetts is expensive, so I can't even begin to give you these numbers. If you are creative, you can do a lot to furnish the apartment from second-hand stores. But, you really don't want a used mattress! I remember when I moved out, and I went shopping simply for cleaning supplies, how shocked I was at the price!
So, to answer your question: Assuming the apartment is $1000/month, with a $200 security deposit, and they want two months rent up front, that's $2200. And let's add $300 to that for utility deposits (not sure on this). That's $2500. Furnishing the apartment? Furniture, dishes, towels, pots and pans, even if getting as much as possible through thrift stores, I'd budget $2500. And another $500 for first time grocery shopping - stocking up on flour, sugar, spices, canned goods, etc. So, honestly, at least $5000.
Beyond that, do you have a monthly budget worked out? You would want to find out average utility bills for apartments. Winters can get expensive. Do you have an emergency fund set up? It is advisable to have in savings at least enough money to cover 3 months of living expenses, so if emergencies come up, you can pay your own way rather than using credit cards (suppose a tooth needs to be pulled?)
Now, having said all that, I will simply say this. Economically, it's not easy out there right now. If your situation is tolerable at home, and if you can stay home and build up some savings, maybe go to school, that would be to your advantage. If not, I understand. Another alternative is to consider military enlistment. You get away from home, get to travel, get some good training, and get a paycheck. Something to think about!
I wish you the best as you plan for this big day!
Kim
Michelle M.
Entertainment Industry
1879
Answers
Updated
Michelle’s Answer
Hello, Ava !
Advisor Kim's advice and information is superb and I would like to add a few more things to think about.
In order to obtain mainstream housing, most landlords and apartment managers expect people to have a full time job, so you will need to decide if you'll be going to college or working fulltime after high school. In your town and nearby area, one bedroom apartments can be over $2,000.00 a month. I wouldn't suggest getting a low rent apartment in a dodgy neighborhood where repairs can sometimes be neglected. You also will need to figure out if you can afford an apartment as well as a car. Being alone or living with a roommate warrants being conscious of safety and having a car to travel with will be a good idea.
Again about rent, rents increase every year, so people always need to be able to keep up with the increases. During the past ten years, on the east coast, I have observed that landlords and apartment managers started doing something that they never did before. If someone wants to or needs to move before their lease is up, they are charged for the remainder of the lease. I have worked with mainstream housing for many years when I was a social service case manager and just started seeing this charging for the remainder of the lease in about 2015. So there are a lot of responsibilities that come with being a tenant and things to think about.
If you decide to go to college, you could always live in the dorms, but you will really have to want to go to college - don't just do it for the housing aspect.
Now I will explain Supportive Housing to you - not advise or suggest it, but depending on some details you haven't mentioned, it is possible that you may qualify for it. It is a program during which you get a regular apartment pay one third of your income for rent and the program pays the remainder or you pay your share to the program and they pay all the rent. You also get a case manager who does home visits. There are specific categories that this program qualifies people for - veterans, people with disabilities homeless, and maybe there are other categories, too that I am not aware of. These programs are few and far between, but you can visit your local social service department and they can inform you further. There is also services for young people aging out of the foster system, too. Contact your Child & Family Services CBHC office as they offer services for teens. Try social services agencies where you live, visit and see if they could help you with housing. Make sure you offer specific details about your situation. The more you discuss with them, the better they can help you. Only consider this if you are definitely set on getting your own apartment and don't want to go to college or enlist in the military as Advisor Kim has mentioned.
Another thing to consider as our country has no borders is that program housing and certain other types of housing are full and this is something to consider if you cannot meet a private apartment expense. Living in the college dorms adds a cost to your tuition, too. So, the question is more like how much can you make to save before you're 18 ? Can you obtain a high paying job that will support the expenses of having an apartment ? Only you can answer these questions. Another type of housing is Transitional Housing which is only for people in homeless shelters and I do not advise going to a homeless shelter just to get the services that transitional housing can provide (they help people get an apartment).
So, now that I've mentioned all of these options, I would advise that you remain living where you are and not move out until you know that you can afford move in costs as well as monthly expenses for an apartment. Do feel free to return here and ask more questions providing your concerns around having to move out when you are 18. We are glad to help out.
Advisor Kim's advice and information is superb and I would like to add a few more things to think about.
In order to obtain mainstream housing, most landlords and apartment managers expect people to have a full time job, so you will need to decide if you'll be going to college or working fulltime after high school. In your town and nearby area, one bedroom apartments can be over $2,000.00 a month. I wouldn't suggest getting a low rent apartment in a dodgy neighborhood where repairs can sometimes be neglected. You also will need to figure out if you can afford an apartment as well as a car. Being alone or living with a roommate warrants being conscious of safety and having a car to travel with will be a good idea.
Again about rent, rents increase every year, so people always need to be able to keep up with the increases. During the past ten years, on the east coast, I have observed that landlords and apartment managers started doing something that they never did before. If someone wants to or needs to move before their lease is up, they are charged for the remainder of the lease. I have worked with mainstream housing for many years when I was a social service case manager and just started seeing this charging for the remainder of the lease in about 2015. So there are a lot of responsibilities that come with being a tenant and things to think about.
If you decide to go to college, you could always live in the dorms, but you will really have to want to go to college - don't just do it for the housing aspect.
Now I will explain Supportive Housing to you - not advise or suggest it, but depending on some details you haven't mentioned, it is possible that you may qualify for it. It is a program during which you get a regular apartment pay one third of your income for rent and the program pays the remainder or you pay your share to the program and they pay all the rent. You also get a case manager who does home visits. There are specific categories that this program qualifies people for - veterans, people with disabilities homeless, and maybe there are other categories, too that I am not aware of. These programs are few and far between, but you can visit your local social service department and they can inform you further. There is also services for young people aging out of the foster system, too. Contact your Child & Family Services CBHC office as they offer services for teens. Try social services agencies where you live, visit and see if they could help you with housing. Make sure you offer specific details about your situation. The more you discuss with them, the better they can help you. Only consider this if you are definitely set on getting your own apartment and don't want to go to college or enlist in the military as Advisor Kim has mentioned.
Another thing to consider as our country has no borders is that program housing and certain other types of housing are full and this is something to consider if you cannot meet a private apartment expense. Living in the college dorms adds a cost to your tuition, too. So, the question is more like how much can you make to save before you're 18 ? Can you obtain a high paying job that will support the expenses of having an apartment ? Only you can answer these questions. Another type of housing is Transitional Housing which is only for people in homeless shelters and I do not advise going to a homeless shelter just to get the services that transitional housing can provide (they help people get an apartment).
So, now that I've mentioned all of these options, I would advise that you remain living where you are and not move out until you know that you can afford move in costs as well as monthly expenses for an apartment. Do feel free to return here and ask more questions providing your concerns around having to move out when you are 18. We are glad to help out.