Wednesday, 31 May 2017

How much cash should I stash - before I dash?

So you’re thinking about moving out? If this is your first time away from your parents, then you may be thinking party time!

That said, you must be careful not to neglect what’s really important here - How are you gonna afford to pay your own bills? In this article, we’ll break things down!

So first and foremost, you must ask yourself - Am I truly ready for this? This is an important assessment because you’ll accumulate a wide range of expenses outside of just paying the rent.

To get things rolling, you can get key insight from the people you trust the most, like friends, siblings, parents and loved ones. They’ll be able to provide first hand experience about what it was like when they moved out for the first time.

You’ll also want to gauge your current expenses. This can give you a good indication of how much you’re already spending. And once you come to a hard figure, then look for any hidden expenses that may occur.

Additionally, you’ll want to make a budget. This will help you determine just how much you should pay for rent. There’s generally two ways of going about this. The first and most common method is to divide your monthly income by 3. And the second way is to divide your annual income by 4. It really doesn’t matter which way you choose. But what’s most important here is that you stay within your means.

Most apartments will want a security deposit up front. This figure is generally double the amount of the rent you should pay. That said, you should get your cash back at the end of your lease - that is, if you don’t trash the place! And don’t forget to factor in any additional charges, like credit and background checks. These should generally between $30 and $100.

As for moving costs, they can vary depending on how far you plan to live, and can range up to $1000. If you rent a truck for around $40 - $150, and move everything yourself, you’ll save on paying for labor. Heck, you can even use cheap moving boxes that you may have laying around. The downside to this method is you may mess up some of your own stuff in the process, being that you’re not a professional. That said, hiring a professional moving company can be a bit pricer at around $300 - $600, but chances are, your stuff won’t break, even though they’ll most likely be using their own cheap moving boxes as well. :-) Keep in mind that it’s more if you’re planning on leaving the state. Then you have to factor in gas prices, motel stays and other transit expenses that may apply.

If this is your first move, then furniture may not be a huge deal for you, and you probably won’t have much to fill those cheap moving boxes with. So you’ll save money up front. If you look into a partly furnished placed, it may be more expensive, because of the furniture add-ins. And with furniture, keep in mind that the better the quality, the more you’ll pay for it. I’d recommend picking up lamps, chairs and tables piece by piece from thrift stores and garage sales.

Utilities are always mandatory. After all, you gotta have your light, water, heat and electricity. Other utilities like cable and internet may not be as important. Getting renters insurance may be a bit pricey, at around $185 a month on average. But it may come in handy in the event of a flood or fire.

And food will always be at the top of your list of needs. You’ll most likely be eating out more initially, until you get the basic things for your kitchen, or learn how to cook without burning the place down! I’d say $150 should fill your pantry enough for the time being.

Transportation expenses will vary, depending on the location and proximity of your apartment. You’ll probably spend upwards of $100, depending on how you choose to move about.

That said, you should always be prepared for any unaccounted expenses that may pop up. Who knows when you’ll be out with friends and see that must-have hand bag, or that coveted roach farm you’ve been pining for all your life! You’ll probably want to have about $250 - $500 saved up, just to be on the safe side. I’d say after adding all of your expenses, you’ll be looking at around $2800 to $3700, to get things situated.

Happy Moving!


  1. top 10 distance mba in india

    I'm extremely satisfied to find this site. I need to thank you for your chance for this especially brilliant read!! I certainly adored each and every piece of it and I have you spared to most loved to see new things on your site.

  2. GB Instagram official APK Download for any Android device. Download GB Instagramapp for any Android device for mod Instagram app

  3. Epsxe app has a plethora of options so that you can fine-tune your game to the best and most optimal quality that can be achieved. Epsxe latest version is very compatible with almost all of the devices

  4. Lucky patcher allows you to Modify the apps and Control the permissions. Download Lucky patcher from

  5. You need more regarding that. No matter what, dont ever start unprepared. You need to be fully prepared for anything you do. redbox tv apk download

  6. I know it was my choice to read, however I genuinely thought you would have something useful to say. All I hear is a bunch of whining about something that you could fix if you were not too busy seeking attention.
    psl 2019 match schedule
    Pakistan Super League Live Score Ball by Ball

  7. The downloading always happens in the background so you can keep doing your important work while surfing to the Internet, tweeting and listening to the music as you download.Sometimes you want a lot of videos from different websites like you tube, vimeo and others videos hosting websites. You often need to download yours desired video. Now there is a perfect solution of this Tube Mate  is one of the best apps to download a lot of videos from different websites. It makes it very simple to access the video of your choice through the in app browser. It features the easy to use user interface.