How To Move Out Of Your Parents House THE RIGHT WAY | Budgeting and Planning

So I was at Church this Sunday and a friend of my mine Came over, and ask us, How Do I Move out my Parents house, and more important how do I know when I’m Ready. After 2M I break everything down.

So then I checked out on youtube to see whats up with this Topic, a lot of my ladies have made videos on it but I’m about to be one of the first guys really breaking down like this. So I gotta represent.

And I know most of you Guys watching this Video right Now:
- You just had an argument with your mom or dad
- You feel like your trap and can’t grow
- Most of you though just want your own space

For context, just because you live with your parents you are not loser, I was living with my mom while I was making 20-30k per month and I finally moved out in June that was 3 months ago. ( So I’ll teach you everything I know) – luckily for most of you ( you wont be move from New York to Puerto Rico, because that’s a different Game)

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1. Plan For Future ( soft Plan, because a lot can change)
- No more than 12 months into the future, I know people love 5 year and 20 years plan but lets keep simple

Few Ideas to Focus on:
- Cost of Living and location
- Income and your What you’ll do

Tip: And remember moving out, doesn’t mean you’ll never see your parents again. You can Still Visit.

2. Skill/ Job ( separate not the same )
- This is where you actually go and get a Job ( any job, the goal is to use that money to save money to help you Get ready )
- However Job and Skill are different ( some of you will work at Walmart or Mcdonalds but are 4 years away from becoming a Finance Advisor or an accountant )
- So Use your Job income To Pay for School, ( the Rest of The money can go towards Savings )

Idea: Not a Very Popular Opinion but its What I did
- If you Want you could move out and Go to School, and have a job at the same time ( its hard, and eats up a lot of your Income – but it’ll help building Character )
- If you want you could just stay at home save all that money ( Finish School and then Move out – but you need a job ) – this is what I did

3. Budget ( 33% )
- Keep track of your Expenses ( the Main 4 are Shelter, Utilities, Groceries and Transportation )
- Everything else ( just don’t buy )
- Most of us, use are money to buy cars, Cloths and Stupid stuff ( don’t do it ) – save the Money

Tip: if you need to Buy a car, buy a used one

4. Emergency
- Save for 3 Months of Emergencies in a Separate Account ( you should have a soft estimate of your Cost of Living )
- If you Want to be Super Safe then Save 6 months )

5. Moving Cost Savings
- You will have to pay the Following

Apartment: 1 Months Rent and 1 Month Deposit usually
Mattress: Amazon it for $200
Car: $1000-3000 Max
First Month Shopping For food ( you know all the sauces in your parents Fridge those don’t come with your apartment

However:
- If you are in a bad space ( meaning you are getting phusically and mentality hurt )
- Then you can Get a job, Save One month for emergencies, and then Get a Room instead of an apartment



Extra Question:

Building Credit : One Bill method

Qualifying for the First Apartment

Room Mates or No Room mates ( if shelter will cost more than 33% then yes)

Girlfriend or no Girlfriend

Expensive or Below Budget ( all apartment are tempary and just place to save money for your first house eventually)



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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.