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Saving Tips for Moving Out for the First Time

Getting ready to head out on your own for the first time? Although moving into your own place is super exciting, if you're not careful, it can also break the bank.

One of the most important aspects of your move is the financial side of things - moving out requires some meticulous planning and sound financial judgment, from figuring out your budget to choosing the right place to move into. 

Saving Tips for Moving Out for the First Time

Here are five financially savvy tips for first-time renters to help you through this exciting change without going over budget.

Start Early and Plan Ahead

A smooth and cost-effective move is going to need early planning and preparation. Make sure you take enough time to assess your financial capability, plan your budget, search for the perfect place, and save up for the items you’ll need

Making snap decisions and rushing the process will almost definitely cause you unnecessary stress down the line, so take things as slow as you can and plan carefully.

Differentiate Between Splurging and Saving

When you’re designing your very own space for the first time, it can be so easy to go overboard. However, it’s absolutely essential that you learn to differentiate between the areas where you can splurge, and where its best to save. 

Choose simple, affordable decor that fits your budget, and consider DIY projects or second-hand pieces. Look for sales on necessities like kitchenware and cleaning products. However, prioritize spending money on items that should last longer, like sofas and living room tables, mattresses, and kitchen appliances. 

Compare Moving Options

You’ll have a few different options to choose from when it comes to moving, each with its own pros and cons. Get some quotes from reputable moving companies,  look into the costs of hiring a moving truck to do it yourself, or ask your loved ones for help.

Depending on your budget, where you’re moving to, and how much stuff you have, the best choice will be obvious to you. Remember to account for additional moving expenses like insurance, fuel, packing supplies, and the obligatory pizza and beer for whoever helps you out on the day.

Look for Deals and Discounts

There are always areas where you can save money or snag a discount, which is another reason why taking your time with the process can be helpful. 

Look for sales and bargains on necessary moving items to save some money. You can look for used boxes, cheap packing tape, and bubble wrap on online marketplaces, and take advantage of the discounts and freebies that many businesses. 

Create a Realistic Budget

Last but not least, make sure to set and stick to a reasonable budget – not just for the move itself but for your day-to-day life when you’re roughing it on your own!  

Think beyond your rent – and plan for expenses like utility bills, debt repayments, monthly groceries, internet and phone bills, entertainment, clothing, savings, and unplanned things that might come up. This will help you make sure that you really are ready and able to move out and take care of your own finances.

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