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Got a Job? Saving Up to Move Out of the House

December 20th, 2009

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Congratulations, you have managed to land a great steady job and now can officially begin planning your independent future. For many recent university graduates, this will be the first time that they will be capable of truly supporting themselves. However, before jumping the gun and packing up your belongings the moment your first paycheck comes in, there are a few things to consider before you leave the nest for good.

Employment can be a fickle business, especially if you are not used to holding a permanent job. Many students do not have experience with holding one job for more than a year because of schooling requirements. Being employed on a more permanent basis after graduation can prove an entirely new experience. For this reason, recent graduates need to ensure that they can see themselves working with their current employers on a long-term basis before planning to alter their lifestyles dramatically, such as moving out. Imagine your life two years from now – do you see yourself still working at the job you have been offered? If so, you can safely begin planning for your new life because you will likely have a steady source of income for years.

To make certain that the moving out and living alone process will be easier, you should begin saving before moving as well. Determine how much money you would be willing to spend on rent, bills, and other monthly expenditures. Be certain that this total is not more than half of your monthly income because if emergency were to strike, you would want to have extra money on hand. To see if you can handle having that amount taken out of your paychecks every month, begin saving that amount of money every month even before you move out. This will not only let you know if you can feasibly survive on the amount that you plan to live on, but it will also allow you to save up to buy furniture and other moving expenses when you do move out.

Moving out is a big step to take and is also an exciting affirmation that you are beginning your own life and blazing your own trail after all of your hard work in college. However, as excited as you may be to leave the nest and find a place of your own, do not be so eager to do so that you end up finding yourself in a situation where you need to move back home because you did not adequately prepare.

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