Moving out without money or a job can be taxing, but it does not have to be a total nightmare.
Find out how to plan ahead and move out of your family home with no money sooner rather than later.
Figuring out how to move out with no money or job is not an impossible task. What you need is plenty of research and a viable plan that you can immediately put into place to get on more solid ground.
Moving out is not a decision you should make on the fly. You need to consider where you want to go and first choose a location for your new home.
There are plenty of variables you have to think through before settling on a particular city or town, including the cost of living and crime rates. But with the added factor of having no money or job, you need to carefully review each one so you choose a home that suits your needs.
For instance, Cedar Park in Texas is considered one of the most affordable places to live in the United States. Aside from the low cost of living, the city boasts of high-income levels, excellent amenities, and lots of job opportunities.
Other inexpensive cities to move to are Ogden (Utah), Raleigh (North Carolina), and Provo (Utah). If you are planning an interstate move, you may want to consider Alabama, West Virginia, and Arkansas.
You can always use an online cost of living calculator to compare cities based on finances and other factors.
Check for affordability not only in terms of housing expenses, but also prices of groceries, gas, and utilities. This is crucial as you must live comfortably within your means.
Public transportation options and commute time should also be part of your research.
If you plan to live in a small town, chances are you need a private vehicle to get around. Trains or buses are inexpensive and time-saving ways to travel, too.
Before moving, you must know exactly how much money you will be working with so you can plan your budget accordingly.
The budget for your move includes both packing and travel costs. If you still do not have a place to stay and will secure one post-move, include that in your plans as well.
Some people find room rentals that allow them to keep costs at a minimum while getting settled.
Moving out of your parents’ home is no joke at first, so you need to make some real changes.
Many do not understand what it entails to live on their own and underestimate what they will need and what it will cost.
Making the transition is easier if you sit down, make a budget for yourself and stick to it. This will help ensure that you get your finances in order sooner.
It helps to adopt an economical spending habit after your move.
While the concept of living on your own is undoubtedly exciting, it means less monetary support from your parents and more bills to pay so it pays to save.
When moving out, you can gain extra cash by selling off things you will no longer need. This will also lighten your packing load.
Aside from not spending too much on moving supplies, you will also have fewer articles to bundle in your car (or the moving van).
You can sell your belongings and turn them into cash by offloading them at a local flea market or on online marketplaces. If you have time and inclination, you may also host a pre-move garage sale.
You should not sell items that you will need as you get your footing post-move. For instance, you should keep your laptop and interview-worthy clothes for future job hunting.
Of course, you should save essentials like basic toiletries, changes of clothes, and anything else you cannot live without.
The best way to move out of your parents’ house without money is to already have a job. If not, make sure that you have one ready and waiting for you wherever you plan to settle.
It does not have to be a regular 9 to 5 job. You need a source of income that will help tide you over until you find more financially sustainable work.
The gig economy nowadays offers a wide range of options if you need to make fast cash. You can be a babysitter or a rideshare driver. If you have a particular background like writing or basic design, you can try remote work.
We have put together a basic guide on how to start earning money with Fiverr.
When you have a plan on how to bring in money post-move, this will take some weight off of your shoulders and give you adaptability as you move forward.
Moving out takes a chunk out of your finances. You no longer have your parents to support you, so you need to live within your means.
If you have taken the time to budget, then you know what you are working with and how much you can afford.
You should stay within that limit to stretch your current funds as far as they can go.
If you can find ways to cut down on rent, do so.
A rent bill can be quite expensive when you are living on your own. If you have trouble coming up with enough money to pay for your rent costs, there are ways to reduce your financial burden.
One way is to rent a smaller place. You may also consider having a roommate who can split the rent.
When you share an apartment with friends, rent can be affordable, especially when divided among several people.
You should also try to stock up on food and avoid going out as often. Frequent eating out will not be good for your finances.
Once you are relatively settled in your new home and may have landed a job, you must start to prepare for your financial future.
It is easy to give in to temptation and use your extra cash for frivolous purchases, but when you live on your own, you should be more responsible with your finances.
Opening an investment account is an excellent way to manage your savings.
While retirement seems so far away when you are in your twenties, it is recommended that you start saving and investing money early.
When you invest in your twenties, you are giving your saving several decades to grow. For instance, investment in the stock market typically gains 10% per year.
Investing can be a challenge for young people because there is very little disposable income. You may also encounter unexpected expenses that drain your savings.
In such cases, you may opt for short-term investments that put your money to work but still be able to withdraw at short notice
Living on your own can be liberating as you do not have your parents scrutinizing your shopping spree. However, you should be wary of overspending.
Setting a budget is an excellent starting point.
Once you have got a grip on your finances, you must not become too dependent on using credit cards or other payment forms that encourage effortless spending.
Any time you use your credit card for a purchase, you should always monitor your monthly statement and keep track of how much money you owe and when it is due.
This way, things will not get out of hand.
It might be awkward to ask, but your best course of action when moving out with no money or job is to request your parents or friends for help.
A little extra cash will go a long way for starting on your own. After all, your money situation is only temporary.
Soon enough, when your circumstance improves and you get settled, you will be able to pay back whatever you owe them.
Think of it as a loan from your loved ones as a way to get on your feet. Who knows, you may even get free interest from them.
Help does not always have to be about money. You can also get assistance regarding referrals for cheap apartments, furniture, and moving vans.
If a family member already has packing supplies, you may ask to use them for free. This is an excellent way to cut costs of moving.
Hiring movers can also be expensive. If you get your family and friends to help, you can save a big chunk of your budget.
Often enough, there are plenty of resources out there that you can tap on, as long as you are willing to make the first move and ask.
Even if you are living on a tight budget, you should leave money aside for emergencies.
An emergency fund is critical in case something unexpected comes up, like a car in need of repairs or a sudden trip to the dentist.
If you have extra money set aside, you can pay for those expenses without resorting to loans and going into debt.
In building an emergency fund, you should start small, about $1,000 to $2,000. You must save enough money, around three to six months' worth of living expenses, before you move out.
This way, you have adequate funds to handle unanticipated expenses, such as medical bills, and even vacations.
If you commit to your monthly budget, you can swiftly tuck away a good-sized emergency fund for you.
Let us be real – even the best-case scenarios when moving out involve a bit of a struggle. You need to be practical in your decisions to avoid bigger setbacks.
With no money or a job, you are looking at several weeks solely depending on whatever money you have. What will happen when your funds run out? You have to be aware of what you are in for.
If you will be temporarily staying with a friend, you both need to be on the same page about how long your stay can last.
You should also clear up what is expected of you as a guest. This includes your part in helping pay for the bills, food, and other necessities.
What about if there are no immediate opportunities for you in terms of job and housing prospects? You should figure out your steps as soon as possible or start reevaluating your decision to move.
You should reconsider if the move is urgent or if you can wait a few more months, just until you have enough budget to subsidize yourself.
Getting an accurate feel of what you will be facing will ensure that you do not make mistakes early on.
Although you have yet to move, you should anticipate that things might not work out. For this reason, it is essential to have a backup plan.
Anything can happen when you move out. Setbacks are unavoidable, but if you have a contingency plan, you can get back on your feet in no time.
If you fail to secure the job you are hoping to get, you should be prepared with a second option on where to get your income. This can be a side job that is lucrative enough to keep you afloat until you get more stable work.
Failing to secure your target house can be quite disheartening. However, if you have several other alternatives lined up, this should not put you off your decision to live on your own.
You should also keep your family and friends in the loop early on. This will help ensure that you have a support system in place. Knowing you have your loved ones' encouragement can go a long way.