Top 7 tips to be financially independent when you move out

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One of the hardest things when you’re facing adulthood is moving out on your own for the first time. Society expects us to live on our own as early as the young age of 18.

But, we see this all the time, you finished college, no longer qualify for the dorms and still don’t have a job to live alone, so you move back in with your family until you find a job.

Then, after you’ve started working, you’re kinda stuck and not sure how to prepare to move.

move thoughts

This part of “adulting” is often paired with anxiety and stress, partly because you don’t know the first thing about what to expect when you move out.

What if you’ve never learned how to save money, buy groceries, pay bills?

If this is you, then you’ll get a lot out of this post.

Just know, this isn’t going to happen overnight, so just be consistent with the process and you’ll be successful.

Here are 7 tips you should know to help you move out on your own….and never look back!

1. Open up a savings account

This is small step but it makes a HUGE difference.  Keeping your savings separately from your checking/spending account helps you save more and spend less. The money in your savings is out of sight, out of mind (most of the time).

2. Save rent money 6 months in advance

Research the rent rates in your area and start building your rent stash. It’s easier to save when you are with family because your bills are relatively low.

So, bulk up your savings by taking advantage of your current low expenses.

It also trains your brain to “pay” rent on a monthly basis, so when you’re out on your own, it won’t be such a shock.

3. Start cooking at home

Look, we all love going out with friends, but you’re at the point in your life when you have do some “adulting”. Part of that is buckling down and getting your finances in order.

cooking-move out

You’re going to save a lot of money when you cook at home. Groceries cost much less than those marked-up entrees at your favorite restaurant.

To save more on groceries and get some awesome food tips, read this.

dinner-move home

I’ll tell you what, maybe you can have a potluck with friends instead of eating out. You’ll save money and you won’t feel like you’re missing out…uh YOLO!

4. Make a mock budget

By now, you need to have a budget to manage your spending. If you’re new to budgeting, join the Budget Workshop to learn how to create a budget that works for you.

budget to move

In your mock budget, you should add all the future expenses you’ll have. Include rent, groceries, utilities, and even laundry care. After all, once you move out, all those “freebies” will come out of your bottom line. It’s wise to have a good estimate of how much you’ll spend living out on your own.

Your mock budget will also reveal if you make enough money to cover all of your future expenses when you move out or if you need to make more money first before thinking of moving out on your own.

This will prepare you for all the expected expenses so you don’t have to wonder how much it’ll cost to move out on your own.

5. Start an Emergency fund

Emergencies come up all the time and if you’re not financially prepared, you’ll end up borrowing from family or even worse, you’ll get behind on bills and that downward cycle will eventually get you back to living with family. No one wants that to happen!

This article will help you save an emergency fund in no time. 

6. Start buying or accumulating furniture (if you can)

I know this is not ideal for everyone, but if you have room to store some pieces, this tip will help a lot.


Visit the thrift stores frequently for new or gently used pieces, you’d be surprised at the great quality furniture you’ll often find.

I recently bought a set of 6 dining room chairs for $25 a piece! Let me tell you, they were brand spankin’ new, donated from a large furniture store, still wrapped in plastic!

They’re grey velvet and they’re tufted on the back and the seat. They’re currently my favorite piece in my house and the deal was unbeatable.

When you start shopping for furniture before you move, you’ll have enough time to shop around for deals and bargains, which will save you money.

It also means you get to buy things at your own pace (when you can afford it) rather than trying to buy EVERYTHING right when you move in.

Remember, when you first move in, you’re paying a deposit and first and last month’s rent, so if you have some of your furniture already, then you’ll be able to help keep your first months expenses relatively low.

7. Cut current expenses

Sure, you want to save, but you currently don’t have money left over to start saving enough.

Well, start reducing your expenses. Cut the cable, gym membership, bring your lunch to work, stop mindlessly shopping, and cut anything else you can to get your savings at its highest.

This strategy will not only bulk up your savings fast, it will also train you to take control of your spending habits while there is no pressure.

This skill will be tested time and time again when you’re living on your own. If you are disciplined with your spending BEFORE you move out, you’ll more likely succeed when you’re a renter/buyer.

So, there you have it. 7 awesome, easy, tips to get you ready to move out on your own! You’ve got this, welcome to adulthood!

Until next time my frugal friends,

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