Living on your own is probably one of the most exciting times of your life. You’re officially moving out of mom and dad’s house, enjoy being independent, and do whatever you want, whenever you want. It’s truly exhilarating – until you realize how expensive it is outside of your parents walls. That $700 you put away into your savings is now going into your monthly lease, and those Target runs and movie nights are no longer a thriving necessity.
Life is expensive when you’re living on your own, and you need to be prepared before you move out of your parent’s house. After the constant search for houses for rent in Austin, TX, here’s what to expect before signing your life away.
Your parents are no longer there to ask you what snacks and food you want for the week, so it’s up to you to go shopping every week and get all your groceries. Breakfast, lunch, and dinner are things you’re going to have to cover, and any cleaning products, toiletries, and drinks you need. On average, a person spends about $300-$400 on groceries each month if they shop smart and don’t grab the most expensive food items.
Rent and Utilities
Rent is of course the highest living payment you’ll expect every month, and this amount won’t change. Utilities such as electric, gas, internet, water and sewage usually aren’t covered by the landlord, or only a few of them are. Most likely you’ll be paying for the most expensive utilities like gas, electricity, and your internet. This adds another couple hundred dollars to your monthly rent, so you’ll need to expect a lot of money to just be going into your rental. You can get a smart meter to gain useful insights and understand your electricity expenditure better.
Enjoying the Town
Of course on the weekends, you’re going to want to get together with your friends and go out to the movies, dinner, and go shopping. Setting aside money from every paycheck for these personal expenses is a necessity to making sure you don’t blow your budget for the month and end up in the negatives. You’ll notice that you will have a different perspective on the things you used to frivolously buy like that cute shirt or pair of jeans, and now those things won’t be a “need” anymore.
You’ll realize what is important, and what can wait now that you have other expenses to think about first.
Of course the new space you’re living in is going to need to be filled. The first month of renting, you’ll notice that you’re spending loads of money just because you’ll be buying large expensive items like a couch, armchair, carpets, coffee tables, as well as kitchen and bathroom necessities. Once you get all of these things purchased and set up, your monthly finances will start to balance out again.