Moving Out?
Are you ready to move out?
Just recently we encountered a young man, just starting out in life. He’s nineteen years old, attending college, working, and was evicted from his home. Now he’s looking for a new place to hang out but living quarters are not cheap. After providing a lot of advise, the young man discovered that he can’t afford to move into a new place. Many other people are discovering this same situation. Luckily for him, he was able to return to his previous home, but many others cannot. Therefore, we came up with a simple worksheet to determine if you can afford to move out on your own.
| Lump Sum Costs | Monthly Costs | ||
| Lodging | Security Deposit | $ | |
| Furniture | $ | ||
| TV & Appliances | $ | ||
| Rent | $ | ||
| Rental Insurance | $ | ||
| Utilities | $ | ||
| Other | $ | $ | |
| $ | $ | ||
| Food | Groceries | $ | |
| Dining Out | $ | ||
| Coffee/Soda | $ | ||
| Other | $ | $ | |
| Transportation | Car Purchase | $ | |
| Registration | $ | ||
| Lease/Car Payments | $ | ||
| Car Insurance | $ | ||
| Gas | $ | ||
| Parking | $ | ||
| Maintenance | $ | ||
| Repairs | $ | ||
| Bus | $ | ||
| Taxi/Uber/Lyft | $ | ||
| Other | $ | ||
| Personal | Eyeglasses | $ | |
| Contacts & Solution | $ | ||
| Clothing | $ | ||
| Personal Care Products | $ | ||
| Haircuts | $ | ||
| Club Memberships | $ | ||
| Health Insurance | $ | ||
| Disablility Insurance | $ | ||
| Doctors & Dentists | $ | ||
| Prescriptions and OTC Drugs | $ | ||
| Other | $ | ||
| Education | Tuition | $ | |
| Books | $ | ||
| Supplies | $ | ||
| Fees | $ | ||
| Other | $ | ||
| Pets | Veterinarian | $ | |
| Pet Food | $ | ||
| Supplies | $ | ||
| Other | $ | ||
| Entertainment | Restaurants & Bars | $ | |
| Hobbies | $ | ||
| Event Tickets | $ | ||
| Books & Magazines | $ | ||
| Music Downloads | $ | ||
| Video Games | $ | ||
| Other | $ | ||
| Total Lump Sum Costs | $ | ||
| Total Monthly Costs | $ | ||
| Cash on Hand | -$ | ||
| Monthly Income | -$ | ||
| Cash Left Over | $ | ||
| Extra Cash per Month | $ |
To complete this worksheet for yourself, you can download it here. Determining how much you can reasonable afford is the first step. If you have questions regarding budgeting and expenses, please give us a call.
Authors
 Keith Huggett |