b Facebook
a Twitter
r YouTube
c Google +
x Instagram

MY CU Online
Online & Mobile Access

Registration | Forgot/Reset Password


Give us a call:


Branch Locator
ATM/Shared Branch Locator

6 Tips For Living On Your Own

September 25th 2014 by
0 comment

Are you moving out of your parents’ home? Or are you finally able to ditch the roommates? Moving out on your own is both exciting and chaotic. You don’t want to forget to organize your finances and recreate your budget for your new life.

The tips below explain what you can do before and after you move to keep your finances on track.

Before the Move

1. Create a spreadsheet 

It’s always a good idea to set up a budget for your monthly expenses. This can help you organize your monthly bills and due dates, but don’t forget to add things like groceries, entertainment and gas for your car.

People tend to spend thousands on a move. You’ll have application fees, security deposits, fees for turning on utilities and you may need to rent a moving truck. When you’re creating your “new life” budget, don’t forget to factor these in the first month.

2. Contact important companies

You need to find out what you’re responsible for as far as electric, gas, water, trash, cable, etc. Once you have the list, contact those companies to get your account set up, start date and possibly an estimate.

You’ll also want to contact other companies you do business with (cell phone, credit cards, etc.) and let them know you’re changing your address.

3. Get your basics

Chances are you’ll need some stuff! At the very least, make sure you have:

  • A bed and linens
  • Lamps and light bulbs
  • Clothes hangers
  • Shower curtain
  • Toilet brush
  • Trash cans
  • Pots and pans
  • Cutting board and knives
  • Can opener
  • Microwave

Keep in mind that this is a basic list and you’ll probably want to expand on it – so add some padding when you’re making your budget.

After the Move

1. Pay your bills on time

You’ve probably heard this time and time again – it’s important you pay your bills on time every single month. Your landlord expects rent on time and you want to have a good reference for when you’re ready to upgrade your living arrangement again.

For other bills, falling behind can negatively impact your credit score. This can also impact future rental applications, loans and even job opportunities.

2. Stock up on healthy snacks

You’re hungry and there’s nothing to eat – what do you do? Probably order some unhealthy takeout food.

Not only will this do a number on your health, it also adds up. It’s easier to stick to your food budget if you have plenty of healthy snack options available.

3. Stay organized

Keep your new space tidy and free of clutter. A study in the Journal of Consumer Research found that a clean space can curb the urge to spend.

Plus, you’ll be in a much better position to host friends and family if you keep things presentable.

Want more tips for saving money at home? Click here to download our free guide!

Leave a Reply