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Moving Tips for First-Timers

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By : Leticia Carvalho    99 or more times read
Moving home for first-timers is not that simple. You need to contact moving companies to do the back-breaking job of carrying out, loading and carrying in your appliances, furniture and other stuff.

You not only should consider your moving cost but also the cost involved of living on your own.

Here are some financial tips to prepare you for moving home and living on your own:

  • The first thing every person considers before making a decision to move out is whether he is financially capable of really doing it and live on his own. First you need to assess whether you have the means to pay for your monthly rent, your food, laundry and utilities. You also need to consider if your finances can sustain your lifestyle for a period of time.

  • Review your budget and determine how much you can afford. Prioritize expenses on monthly rental and utilities. Adjust your budget around food, toiletries, entertainment and others.

  • Include one time costs in your budget, such as rental deposit, damage deposit, pet deposit, utilities deposit and parking rent.

  • After determining your monthly budget on rent and expenses, add a 5 percent extra for savings or emergency fund. Setting aside even just 5 percent of your income is one of the wisest things you can do while living on your own.

  • Knowing that you are financially capable of moving home and living on your own, it is now time to look for an apartment that fits on your budget. You can save money if you find an apartment that includes costs of utilities in the monthly rental.

Making a decision to move house and live by yourself, is not just a walk in the park. It involves a lot of planning and preparations. But making that decision and taking steps to fulfill it can be one of the most rewarding experiences in your life.
Leticia Carvalho has been educated in the finer points of the foreclosure market over 5 years.

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