Are you apartment hunting because you’re “too old” to live with your parents?
Sick of living on campus?
Moving to a new state?
We’re going to discuss
- 2 key elements of financial indepence | Credit & a solid Money Plan.
- Ensure you have great credit to reduce the likelihood of deposits on utilities, apartments, cable & phone bills, or car note… all of which applies to me because I followed 3 simple rules.
- Understanding your lease terms
- Taking pictures of the property before and after
I was NOT WISE in that I used grant money to move-in and almost couldn’t pay it back in time to enroll for class. However, lesson bought and crisis averted.
So, while my credit score was 781 (now 750) all those hard inquiries and a new credit card later, I’m now a proud apartment owner for the second time.
If you don’t know how to build your credit score, read here.
Currently I live with youtuber and influencer #crownnation Royalty is like my brother; and we have an awesome time laughing and cooking all day.
Our house is filled with laughter and singing. We also split the cost of bills down the middle and agree to keep our thermostat blowing snowballs, no matter the season.
Looking for roommates? Start with sites like this one.
My Tips to Moving Out Your Parent’s House
Be 21 Years Old!
Have an excellent credit history 700+
Save 1200+ for moving out and then six months worth of expenses for an Emergency Fund
Pack a bag of essentials for the first 3 nights (You don’t want to realize all the basics of a good bubble bath are still packed up) electronics to
A hot and ready to eat meal – College students should apply for SNAP (EBT) if you work at least 19 or so hours a week
Make Dollar Tree and family/value packs your bf
Moving Out In College
Usually involves loans…unfortunately there’s almost no escaping it.
Offset the cost by applying for a work study job on campus and after school. If your schedule or lack of transportation disallows a hectic schedule, utilize your skills to make yourself richer. Read how to make money moves and go to school here.
After grants, use federal loans, then private bank loans with low interest rates, or borrow from mom and dad.
A Constant Money Plan
is vital to college and life survival
For instance, rent is due the 1st, lights and internet both at the middle. Your car loan, insurance, and phone bill follow towards the end.
To save large sums in short spaces chunk your savings by thirds, or halves until you have the total.
Learn to eat on 15.00 a week if you need to, but here’s how I budget.
Lastly, life happens fast. Create a comfortable cushion of at least 6 months worth of rent, utilities, and groceries; before you tuck it into an online account that collects interest like dust. Check out nerdwallet.com to compare them.
Know when to adjust, and if you need more hours/pay to pay all bills in full and on time. Sometimes that means extra hours tutoring, or working late, then studying.
As a sophomore I juggled 3 jobs with 15 hrs and 2 with 12 as a college senior. I never feel comfortable with one source of income; I follow a strict study plan and I’ll admit that if I didn’t have to work and if I study better I could be an A student… but I’ll be wiser one day.
I save 3/4 of my income to pay for cost of living, car note, etc and I do save and invest with apps like Acorn and Robinhood or Stash.
Toaster oven/ microwave
Water filter / ice tray
Dollar Tree’s cleaning and basic supplies
Walmart as a last option
My Apps that make life entertaining
Spotify Student discount that includes Hulu
Want more, or a budget sheet to help keep you organized…
Word to the Wise – Click right here!