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Is moving out a bad idea?
So I'm 18, graduating high school in a couple weeks, and I'm attending college in a little city that's about 30 minutes away from home.
My friend and I are going to the same college, and we've been thinking about getting a small apartment together. I've always liked the idea, but yesterday she messaged me saying she found a possible place, and all of a sudden this is becoming real and I'm not sure if it's possible and or a good idea.
Money of course is the main issue here. We both have jobs making minimum wage. I'm going to be working full time this summer, so that's approximately $800 a month. I figured during college I would work 3 days a week, so that's around $420 a month. The apartment she is looking at is $475 a month (w/ water and electric and all that included), and of course we'd split it, so I would pay around $230ish and and would have about $180 left. But there's also other expenses like gas money and food. (I am fortunate enough that my parents are paying for my insurance and phone bill).
I don't know. I'm just nervous that we're jumping into something that we're not quite ready for yet. I'm nervous that I might find myself having to work more than 3 days during college, and I don't know if that is going to affect my studies or not.
Thoughts?
11 Answers
- ?Lv 75 years agoFavorite Answer
Why not sit down and discuss this with your parents?
Frankly, it sounds like you are financially too close to the edge... meaning that it will be a struggle. That's a problem. Attending College is not like going to highschool. You're supposed to focus on your courses. If you're too busy thinking about where to find your next month's rent, then it's going to cost you academically. Be careful.
- RoaringMiceLv 75 years ago
First, make sure your college doesn't require freshmen to live either on campus or with their parents. If it does not require this, then ask your friend if you can postpone the apartment idea until next year, or until the spring. Tell her about your financial concerns - because you are VERY right on that one. You can't afford this right now, and it's really best if you guys commute from home and save money that way, while you see how things balance out re: work and school during your first year there. It's just not a good idea to get an apartment right now.
- 5 years ago
Eh. Since it's your first year, I would encourage you to live in dorms or on campus. You'll meet more people there and it'll be an easier transition to living on your own. Dorms usually provide resources like dining halls, RA's, study spaces, and are safer and closer to campus than an apartment. Sometimes they can be more expensive but only by a few hundred dollars.
Living in an apartment may be cheaper and there aren't any real rules you have to follow, but you have adult responsibilities like cleaning, cooking, buying food, paying rent, communicating with the landlord, etc. Sometimes it can be a lot to handle especially in your first year.
- LaurieLv 75 years ago
And what will you do if you lose your job, or you get sick and miss a week of work, or your employer cuts you down to 1 day a week? Even worse, what will you do if your roommate loses HER job, or fails to pay her share of the bills?
Unless your parents have agreed to be your financial backup plan, I would stay where you are. You have your whole life to move out; wait a while and put your money to better use!
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- Anonymous5 years ago
NO apartment complex will rent to you - or anyone else for that matter - unless you have a source of income that provides 3 X your income vs the rent + you need good credit
example: the rent is $ 500; your income needs to be $ 1500 per month..................there are some apt mgt companies that will accept a 2 X income vs rent
- 5 years ago
Its an amazing idea, but it all falls in the hands if its going to be stressful managing your apartment and college studies/work.
- Donald BLv 75 years ago
You can't afford it even if the landlord would let you rent it. Most landlords will not rent to 18 year olds.
- Be an AngelLv 65 years ago
have you communicated with the financial assistance office of your college or university. Also see if you can go directly to university. compare to the dorms, etc.