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Old 01-28-2017, 08:22 PM
429 posts, read 277,303 times
Reputation: 1178


I agree with other posters. Start hunting for a place of your own. First make a budget and decide what you can afford while still paying down your debt. As for furnishings go to garage sales, second hand stores or make do as you can. Would have to agree that a new matress sould be considered, other stuff can be previously owned or fashioned yourself. Another issue would be to discuss your move with your parents. They in one way or another assisted you to where you are now. Don't burn bridges. Be grateful for what you had and look forward to your next chapter. Good luck.

Old 01-28-2017, 08:59 PM
Location: In a state of mind
5,998 posts, read 6,810,130 times
Reputation: 11284
Agree with the others. Find a one bedroom. Avoid roommates, they usually bring trouble. Buy furniture as you go. Particle board, particle board, IKEA is your new favorite store.

Go read Dave Ramsey's site and follow his steps and you will be good.

Or do what I did.

I bought a three bedroom house on a lake, rented two rooms (to stable working people), lived for free, saved my money and bought more rentals. I more or less retired at 45.
Old 01-28-2017, 09:09 PM
1,010 posts, read 1,262,657 times
Reputation: 1795
If you can save $12k a year living at home why not live at home for a few more years and continue to save. Depending on where you live in 4 more years you could have $60k saved up and have a down payment for a house heck in some parts of the country you could buy a house with $60k.
Old 01-28-2017, 10:50 PM
Location: Evanston
1 posts, read 589 times
Reputation: 10
You have more than plenty to move out. If you can keep your housing cost, e.g., mortgage or rent, 30% or under of your monthly gross income you will be doing great!
Old 01-28-2017, 11:06 PM
Location: State of Transition
78,025 posts, read 69,950,573 times
Reputation: 75799
OP, if I were you, I'd stay with the parents maybe through spring, and keep saving. The extra money you save, you can use to make a big payment to the principal on your debt. Then after that, your monthly payment on your debt will be significantly reduced.

In the meantime, you can be studying the rental market, figuring out what type of apt. goes for how much in which neighborhoods. You can gauge how much to spend on rent based on that info.
Old 01-29-2017, 01:08 AM
Location: colorado springs, CO
4,872 posts, read 2,241,000 times
Reputation: 16434
Oh, gosh! I think you will be fine ...

I left home at age 16, while having a temper tantrum & throwing all my stuff in a Lawn & Leaf bag & my mom screaming "Just don't come back pregnant!" out the front door.

And I've been on my own ever since.

I did apologize to my parents about 5 years later but my mom just said "I'm just glad I raised such an independent kid"!
Old 01-29-2017, 02:38 AM
473 posts, read 323,583 times
Reputation: 324
The costs are all totally variable by location. Looks like it is time to do some research. --
Roommate or solo living?
Apartment or detached house?
Studio, One bedroom or more?
What do you want in apartments? Kitchen use, Laundry, pool, gym, location, outside room, pets ...
Furnishing it is the fun. If you have access to some storage room, you can purchase things as you go as it is cheaper...Will probably at least have to buy kitchen table and couch to supplement your bedroom's contents.

ENJOY! Is always a fun and exciting time!
Old 01-29-2017, 10:30 AM
10 posts, read 9,514 times
Reputation: 16
Thank you everyone for your wisdom and guidance! I read every response here and really appreciate it
Old 01-29-2017, 01:48 PM
Location: Georgia
4,560 posts, read 4,066,710 times
Reputation: 15762
Originally Posted by Auronz View Post
Hello everyone,

I just wanted to see your opinions to see if you think I have enough money saved up to move out of my parents house.

I make 45k a year
The only debt is student loan which is about $350 monthly
I have a car all paid off

I have $12,000 saved up, do you think it is enough to move out of my parents house? not to a different state or anything but just somewhere else close by my parents place.

Note: I will also need to buy new furnitures if I move out

Thank you for your advice in advance!

If my son could move out on his own making $23,000 a year in his first job, you can certainly survive on $45K.

You won't be moving into a model home or apartment, but it depends -- do you value your independence? Or do you value saving money? (How can you only have $12,000 in the bank if you are living at home and making $45K a year?!?! You should have been saving at LEAST 50% of that each year!)
Old 01-29-2017, 04:40 PM
4,248 posts, read 8,117,383 times
Reputation: 5080
Originally Posted by dblackga View Post
How can you only have $12,000 in the bank if you are living at home and making $45K a year?!?! You should have been saving at LEAST 50% of that each year!
Good question. Say $500 a month on food/incidentals, one can save closer to $30K.
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