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If you’re at a stage in your life where you’re planning to move and live on your own and are interested in what to expect, and how to best prepare yourself you’ll find lots of beneficial information here. The goal of this wall is to prepare you for all the unknowns of living alone and give you the best resources to help you overcome any issues you may face.

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This website highlights some reasons why living alone can be good for an individual and also gives the first five steps one should take when thinking about living alone. They highlight the importance of building a budget, staying caught up with your bills, and saving monthly leading up to your move as well as continuing this habit once you have your own place. While finances are important your mental state is too; making sure you’re mentally prepared for the new normal of a quiet house can be difficult for some but is important when trying to maintain good mental wellness to ensure the most positive experience for yourself.

I chose to include this website because it gives a simple breakdown with numbered steps unlike the other articles to ensure you are best prepared for living alone. I think it is interesting this article highlights the importance of being mentally prepared for the adjustment because if you’re not thinking straight it's possible your finances could be affected due to missed work or loss of a job due to having declining mental health which can affect an individual in a number of ways.

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Learn How to Live On Your Own – Nationwide

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Living on your own for the first time? From building a sound budget to getting comfortable being alone, there

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This website is unique because it highlights people living alone for all different reasons;  not just moving out of your parents when young, but after a breakup or the death of a spouse, all these times in your life you could be left living alone and this website helps make sure you know how to take control of your finances. They have the article split up into sections by headers and each header is something an individual needs to think about when living alone from emergency savings, to different types of insurance, and overall protection for you and your money.
I chose this website because unlike the others this one takes into account the different reasons someone may be living alone and the different actions one would have to take based on their circumstances. I like this website's approach because it allows for more of an individual takeaway as everyone is experiencing different things and no list will ever work for everyone that reads it; instead, this website gives you all the information you could need in the event you are living alone for countless different reasons.

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By Kathryn Hauer, CFP, EA
Learn more about Kathryn on NerdWallet's Ask An Advisor.
At some point in your life, you may find yourself living alone. It could be in your apartment when you get your first job after college. It could be after a divorce in midlife or in old age after the death of a spouse. Regardless of your age or relationship status, living alone carries unique financial circumstances. Following are some important considerations for your solo financial life.

Daily expenses

One benefit of living with another person is that you may save on rent or a mortgage, utilities, cable, food and other costs of living. When you live alone, all those expenses are yours to pay in full every month. If money is tight, it's worth looking at ways to minimize those bills. Many websites and resources offer tips on how to save on your monthly bills and budget your spending so that you make sure you're living within your means.

Emergency savings

Financial experts recommend having three to six months of expenses in a savings account for emergencies. When you are your sole support, you may want to have six to eight months saved up. You never know when you might lose your job, have an accident, face a legal issue or run into some other kind of trouble. Keep in mind that if you do need to use your emergency fund money, you want to replace it as soon as possible.

Life insurance

If no one else depends on you for support, you probably don't need life insurance, which is primarily used to help those who will suffer financially if you die. It's worth taking a moment, however, to be forward-looking. Perhaps you have a parent, sibling or someone else in your life to whom you'd like to leave money. In that case, term life insurance is inexpensive for younger people and could provide a benefit for a loved one if you were to pass away while young. If you are older, you may find life insurance prohibitively expensive. But if you are still concerned about providing for a loved one, you might want to consider other estate planning strategies or the purchase of an annuity, which in some cases will pay a death benefit or continued payments to a beneficiary you designate.

Long-term care insurance

Long-term care insurance pays for your stay in a care facility after you aren't able to take care of yourself alone. It kicks in when your doctor certifies that you need help with more than two activities of daily living, which include basic things like eating, dressing and using the bathroom. Not everyone needs long-term care insurance. Wealthy individuals may be able to cover these costs on their own. People with lower net worth and few assets, and even some middle-class consumers, could find it difficult to pay the high premiums this insurance requires. Additionally, long-term care insurance premiums can go up substantially between renewal periods. Be sure to do your research before you buy.

Keep in mind that even though after age 65 you will have Medicare, government-sponsored health insurance for the elderly, it pays only for medical care. It doesn't pay for you to live in a nursing home or to have paid help for your daily activities of life. Once your assets have dwindled to certain levels, you will qualify for Medicaid, which covers custodial care in a nursing home.

A will

You might think you don't need a will if you have no spouse or dependents, but if you have family members, a will would be very helpful to them. The state in which you reside decides how to dispense the assets of those who die without a will. This is the probate process and can take a long time. It may also result in dispensations you would not have wanted. Creating and signing a will can help your next of kin immensely. You can hire a lawyer to make a will or do one yourself with forms you buy online. If you have no relatives or friends you wish to leave your assets to, you can leave them to a charity, college, organization or any other entity you choose. Contact the charity or organization to find out how to make this happen.

Illness or incapacity

What happens if you have an accident or become too ill to manage your finances and bills? You might want to create a notebook of passwords, bills you pay, credit card numbers and other pertinent information so someone can step in and take over if you are temporarily incapacitated. Just make sure it's kept in a safe place. You can offer a trusted person an extra key, and show him or her where you keep the notebook in case something happens to you. This may be sufficient for short-term illnesses. However, if you become permanently incapacitated, you'll want to have a legal document, known as a power of attorney, in place. This gives someone else the right to manage your finances on your behalf. You can work with an estate-planning attorney to set this up.

Taxes

If you're living alone, you probably file your taxes as "Single," which offers fewer tax breaks and results in higher taxes than "Married Filing Jointly." If you're young or middle-aged, the best way to lower your taxes is to contribute the most you can (up to the limit) to 401(k) or IRA retirement plans. If you're older, you want to be sure to check "yes" for the "over-65" higher standard deduction, which will help reduce your taxes.

Financial protection

It may be challenging to be on your own, especially if it follows years filled with family. It could also be pleasant to be able to keep your own schedule, eat what you want when you want, and spend your money on your wants rather than those of others. Knowing that you are protected financially will give you a sense of security that will enhance your general well-being.
Kathryn Hauer This article originally appeared on NerdWallet. This article also appears on Nasdaq. is a certified financial planner and fee-only investment advisor with Wilson David Investment Advisors in Aiken, South Carolina. She is the author of "Financial Advice for Blue Collar America."

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Key financial considerations for people who live alone

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By Kathryn Hauer, CFP, EA Learn more about Kathryn on NerdWallet's Ask An Advisor. At some point in your life, you may find yourself living alone. It could be in your apartment when you get your first job after college. It could be after a divorce in midlife or in old age after the death of a spouse.

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This website is not so focused on living alone but it includes an extended list of ways one can save money to better their finances. This website also includes very helpful calculators which you can use to help determine how to pay off loans or taxes and even travel expenses, which is helpful because you can use them to get the best advice for yourself using your individual circumstances and can make the best decisions moving forward with your finances.
I really enjoyed this article because of the number of tips they give with explanations on how to execute them which is more useful than just telling someone to build their savings; this website actually explains how to go about it. This website is also beneficial because of the calculator features; being able to input numbers that mean something to you and your situation allows the individual to more easily take action because the calculator gives them real numbers which can be followed and used to further benefit each individual's financial future. This website includes lots of helpful links to help find the information you need to grow your savings and prepare the best you can for a successful financial future.

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When it comes to saving money, small changes can add up quickly. Adjusting a few daily habits, cutting monthly bills and leveraging tools that automate savings can collectively make a big impact.

We highlighted some of the best ways to save money right away. These money tips can help you save for a house or a car or simply save more money out of your salary.

Interest rates are on the rise for savings accounts , thanks to the Federal Reserve's actions this year.

By setting up automatic transfers from your checking account to your savings account each month, the money will accumulate over time without any additional work on your part. This technique can be especially useful when your savings accounts are dedicated to specific goals, such as establishing an emergency fund, going on a vacation or building a down payment.

2. Count your coins and bills

3. Prep for grocery shopping

A little work before you go to the grocery store can go a long way toward helping you save money on groceries . Check your pantry and make a shopping list to avoid impulse buying something you don't need. Learn how to get coupons and join loyalty programs to maximize your savings as you shop. In exchange for sharing your phone number or email address, your local store's loyalty program might offer additional discounts.

4. Minimize restaurant spending

5. Get discounts on entertainment

6. Map out major purchases

You can save by timing your purchases of appliances, furniture, , electronics and more according to annual sale periods . It's also worth confirming a deal is actually a deal by tracking prices over time . You can let tools do this step for you; the Camelizer browser extension tracks prices on Amazon and can alert you to price drops. The Honey browser extension pulls in coupon codes and checks for lower prices elsewhere.

When you're shopping in person, make sure you get the best deal by using the ShopSavvy app. It lets you scan bar codes and alerts you to better prices elsewhere.

7. Restrict online shopping

Before you build a budget

NerdWallet breaks down your spending and shows you ways to save.

8. Delay purchases with the 30-day rule

One way to avoid overspending is to give yourself a cooling-off period between the time an item catches your eye and when you actually make the purchase. If you're shopping online, consider putting the item in your shopping cart and then walking away until you've had more time to think it over. (In some cases, you might even get a coupon code when the retailer notices you abandoned the cart.) If 30 days seems like too long to wait, you can try shorter periods like a 24- or 48-hour delay.

9. Get creative with gifts

Refinancing your auto loan and taking advantage of lower interest rates could save you considerably over the life of your loan. Shopping around for car insurance regularly can also help you cut costs compared with simply letting your current policy auto-renew. You can cut ongoing car maintenance costs by driving less, removing heavy items from your trunk and avoiding unnecessary rapid acceleration.

11. Reduce your gas usage

12. Bundle cable and internet

13. Switch your cell phone plan

14. Reduce your electric bill

15. Lower your student loan payments

16. Cancel unnecessary subscriptions

17. Refinance your mortgage

20. Pay off high-interest debt

21. Keep savings in a high-yield savings account

22. Create a 50/30/20 budget

One smart way to manage your money - and hopefully hold on to more of it - is to follow a budget, which means setting priorities for your spending.

Frequently asked questions

Saving from 10% to 20% of your paycheck is a solid goal, but the details can get more complicated. Learn how to determine the right amount of savings for you .

Saving money more quickly often starts with making sure your money is working for you by placing it in a high-yield savings account. Learn more about making your money work harder for you .

An emergency fund can be there for you when you face an unexpected cost or income loss. Building one starts with setting a savings goal and working toward it. Get more ideas about how to build an emergency fund of your own.

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How to Save Money: 22 Proven Ways - NerdWallet

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When it comes to saving money, small changes can add up quickly. Adjusting a few daily habits, cutting monthly bills and leveraging tools that automate savings can collectively make a big impact. We highlighted some of the best ways to save money right away.

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This website has extensive information on everything one would need when living alone. The website includes everything from saving tips, mistakes made when first living alone, and things to include in your budget. This website highlights the importance of understanding your expenses and knowing how to calculate them if you are sure already. This website also includes a budgeting calculator which lays out the 50/30/20 rule which means 50% on essentials, 30% on wants, and 20% for savings based on a monthly income.
I feel this website is very useful because it not only covers a lot of helpful information but also the budgeting calculator which is a great beginner resource for those who are unsure how to start a budget. This site includes ways to save money just by cooking from home or quitting the use of credit to avoid overspending; the only problem I had with this was credit can be useful when trying to obtain a higher credit score as well as sometimes getting cash back, I feel it is important to use credit but to never spend more than you have, and if people are unable to do this than cutting out credit entirely could be a benefit for their financial future. In the end, I enjoyed the extensive information this website shared and the detail they go into to explain their points, so anyone living alone could definitely benefit from reading this article.

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If you can't wait to move out of your parents' home and start living on your own, you're not alone. Independence is amazing, but enjoying that newfound freedom can be more expensive than you might think. Fortunately, there are tons of helpful websites, mobile apps, and online budget calculators that can make managing your finances fun. And by incorporating these tools in your everyday life, you can develop a realistic budget and start saving money for the things you enjoy.

If you've been asking yourself "How much money do I need to move out?" here are a few tips to help you start adulting like you've been at it for years.

Common Mistakes When Moving Out for the First Time

Perhaps the biggest mistake young adults make when moving into their first apartment is not making a budget. The principle is simple: First figure out how much income you're earning each month, and determine how much you're spending and on what. Then, based on those numbers, set aside a certain amount of each paycheck for rent and utilities, and actively track your spending so you can prevent overdraft fees and don't run out of cash.

Budgeting apps like Mint automatically import and categorize your living expenses (like how much you spend on fast food and concert tickets each month), giving you a bird's-eye view of your financial standing in seconds. You can also use a notebook or spreadsheet to track your spending if you prefer to kick it old-school. The point is, creating and sticking to a monthly budget is the single best thing you can do to prevent a financial catastrophe. It might even be among the most valuable life skills you'll ever develop.

Another big mistake young adults make when first moving out of Mom and Dad's is not saving any money. You might wonder what the point of saving is if you only have a handful of dimes left over from each paycheck. It's difficult to save when you're living paycheck to paycheck , but even saving just $5 a week is better than not saving at all. And you'll definitely thank yourself for having stashed away that cash when your car starts making weird noises or if you sprain your ankle at a music festival. Learn a few easy ways to save money here.

Paying bills late is also common among the newly independent. Avoid this nasty habit by setting up reminders on your smartphone or using an online calendar to alert you a few days before bills are due. Or, better yet, start paying your bills as soon as they arrive. Not only are late-fees crazy expensive, but if you regularly miss due dates, you could be crippling your credit score. Paying a bill late, even if only by a day or two, makes it more expensive to borrow money when you want to finance a car, house or some other major purchase. Look out for your future self by paying your bills promptly.

Before You Move Out for the First Time

Answer a few of these questions before moving out for the first time:

Can you cover your bills?

The most important thing you need to determine before you move out is whether or not you're going to be able to pay your bills. You're going to have to create a detailed budget to determine what your living costs will be. A budgeting app can help you.

Do you have an emergency fund?

Some people spend so much on living expenses that they don't have any money to be used as emergency funds. An emergency fund is money you can use if you have an immediate and unavoidable expense, like a broken-down vehicle or medical costs. You might want to reconsider moving out if you don't have any emergency funds in the bank, or if you're not going to be able to save enough money to contribute to emergency funds.

Do you have renter's insurance?

Renter's insurance will cover anything in your rental that gets stolen. It's usually a good idea, because most landlords won't cover theft - and some even require that you have renter's insurance before signing a lease. If you're going to buy renter's insurance, you'll have to include that in your overall budget.

Will you have a roommate?

If you're going to share your apartment with a roommate, you might be able to cut down on certain costs significantly. For example, you and your roommate might be able to split rent and utilities bills.

Do you have money for rental fees and deposits?

When you move out for the first time, you'll have to pay a security deposit on your new apartment (typically it's one month's rent). Many rental applications have fees that you'll have to pay, which are typically around $50. Make sure you have money for these costs before you move out.

Do you have furnishings?

If you don't have furnishings for your apartment, you'll probably have to buy new furniture. You should include new furniture as a one-time living expense on your budget. Remember that you don't need a fully-furnished apartment right away. It's most important that you have a comfortable bed to sleep in. You can add cozy sofas, tables, and chairs later.

Preparing for Expenses You Hadn't Considered

In order for a budget to work, it has to account for everything you spend money on. This includes little things like parking lot fees, late-night drive-thru meals and random convenience-store purchases. Like to rent movies on the weekend? Add it to your budget. Tend to drop a few bucks on mobile apps or lotto tickets each month? Include those as well.

Those living away from home for the first time are bound to face a flurry of unexpected expenses during their initial months of independence. In the kitchen alone, you'll likely need to invest in dishes, cookware, and a dozen ingredients to stock your pantry. And when it comes to keeping your home looking good, it's easy to underestimate the cost of cleaning supplies. Netflix and Spotify subscriptions are also often overlooked, as are annual bills like vehicle registration and tax preparation. To create a realistic budget, you should first spend some serious time looking at last year's expenses to make sure you're not missing anything.

Money-Saving Tips for Moving Out at 18

Here are a few basic ways to cut back on expenses during your first years of independence.

1. Don Your Chef's Hat

Cooking your own meals on a daily basis can save you more money than just about any other change in your behavior. Knowing how to make five basic meals (say, chili, tacos, chicken and vegetables, spaghetti with marinara sauce, and a slow-cooked roast with veggies), and having a microwave handy for reheating leftovers, can cut your food expenses in half. An added bonus: Homemade food is almost always healthier than prepared meals.

2. Kill Some Kilowatt Hours

Get into the habit of turning off-or even unplugging-lights, appliances and electronics when you aren't using them. And consider getting a programmable thermostat to keep heating and cooling costs down.

3. Quit Using Credit

Only carry one credit card, and commit to only using it in absolute emergencies. Using cash or a debit card for day-to-day expenses prevents you from overspending and accruing budget-busting interest charges.

4. Explore Other Avenues

Consider all your transportation options. Do you really need to drive everywhere, particularly if you have to pay for parking once you get there? And with Uber, Lyft, Car2Go and other ride-sharing services now widely available, city dwellers might even consider ditching their cars completely. The cheapest gallon of gas is the one you don't use.

Things to Include in Your First Budget

Show Mom and Dad you know how to move out the smart way by creating a monthly budget and sticking to it. Summing everything up, here's a quick list of items you'll probably want to include.

Your rent expense is most likely going to be your largest expense. Try to sign a 1-year or 2-year lease so you can go as long as possible without any rent increases. Of course, bear in mind whether you'll need to move out before that. Another important rule of thumb is to try not to spend over 30% of your income on rent if you don't need to.

Lots of people who are moving out for the first time have to pay some sort of debt. Most of the time it's loan debt from student financial aid . Be sure to include these payments in your budget.

You'll have to pay a separate bill for electricity, gas, water, cable TV, internet, and other similar things. Internet and cable usually have fixed rates, but with electricity, water, and gas, you'll have to pay for what you use. Most people pay around $50 to $100 on their utilities, depending on the area.

Most people forget to factor in food costs. Food may not be one of your larger expenses, but it's a necessary expense. You can cut down on food costs by cooking your own meals.

Transportation

Transportation costs might include flights, cab rides, auto insurance, and vehicle registration. It's most important that you budget for the transportation you're going to use every day. If you're going to be driving to work, calculate your fuel costs and insurance costs. If you're going to use public transit, try to calculate daily transit costs. Lastly, try and leave a little extra space in your budget for rideshare costs and flight costs (just in case you want to fly home for the weekend and visit your parents).

If you have your own health care plan, be sure to include it in your budget. You should also leave some extra room in your budget for prescription drugs and appointment copays.

Entertainment

Some folks spend so much money on living expenses that they wind up being "house poor:" that means they have no extra cash for doing fun things, like going on vacation, having date nights, or going on impromptu adventures. Be sure to budget for fun things, too, and remember that you don't have to spend a whole lot of money to have fun.

Clothing and toiletries

A lot of first-time apartment dwellers forget to budget for clothing and toiletries. Be sure you account for clothing costs, as well as costs for soaps, shampoos, and shaving cream.

Subscriptions and memberships

Budget for your gym membership, magazine subscriptions, and subscriptions to streaming services.

From time to time, you'll need to buy gifts for birthdays, weddings, baby showers, and holidays. Leave some room in your budget for these expenses.

If you have a furry (or scaley!) friend, be sure to budget for veterinary costs and animal medicines.

You Need a Financial Cushion

A good rule of thumb you might've heard is, in the event of an emergency, everyone should have a financial cushion substantial enough to cover three to six months' worth of living expenses. And while there's no arguing the soundness of that advice, many people think that's simply not possible and they don't even bother trying.

But even if you don't have half a year's salary chilling in your bank account, having some money set aside is better than none. There are countless ways to work toward building an emergency savings account, from setting aside loose change at the end of every day and depositing it in the bank at the end of the month, to having a percentage of your paycheck automatically stashed away in your savings account. Many first-timers use the simple 50/20/30 rule of budgeting to ensure a balanced bank account, which splits your monthly expenses into:

Essentials: 50% of your income

Wants: 30% of your income

Savings: 20% of your income

Use our calculator to set up your own 50/20/30 budget.

50/30/20 Budget Calculator

Start now, and even if you only save a few dollars a week, it will add up over time, and help you avoid financial hardship later on.

Learning how to make a budget isn't the most exciting thing you'll do when first moving out and living on your own, but it can mean the difference between just getting by and making the most of your money.

Not using Mint yet? Download our free app today and you'll be budgeting like a boss before you know it.

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How to Budget for Living on Your Own for the First Time

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If you can't wait to move out of your parents' home and start living on your own, you're not alone. Independence is amazing, but enjoying that newfound freedom can be more expensive than you might ...

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This photo is of a woman in a dark environment and she appears to be thinking about the stresses in her life. This sad reality is what the stress of living on your own can do. Having to cover new expenses you didn’t know existed and adjusting to the new lifestyle can leave individuals feeling lonely, confused, and even depressed.

I chose this image because it demonstrates the importance of preparing yourself the best you can so you can avoid wasting money which will help relieve extra stress in one's life.

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This image is to show a woman shopping for necessities while using her list to ensure she only buys what she needs, and can afford. Food is one of the necessary expenses that can quickly diminish your savings if you don't plan appropriately; eating out is an easy option for many but the bills for these meals add up quickly and cant result in major financial stress.

I chose this image because when living alone, cooking for one can be difficult which is why it’s important to meal plan and even meal prep. It makes shopping and saving on food a lot easier and it helps ensure you don't overspend on things you don’t need while maintaining a healthy diet.

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What did you learn about your topic that surprised you the most?

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What did you learn about your topic that surprised you the most?

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The most surprising thing I learned about this topic is managing money as an individual is a lot more complex than one might think. It may seem simple, pay your bills, get groceries, and maintain some sort of income; but, after doing research I learned it was a lot more than that. Understanding how to budget is crucial when living alone, and understanding time and money both need to be budgeted are important otherwise it can lead to burn out and a loss of income which then has an affect on your budget. In the end managing your money is equally as important as managing your mental health because without one the other can deteriorate quickly.

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Provide a real-life example of how this topic is relevant or interesting for you.

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Provide a real-life example of how this topic is relevant or interesting for you.

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This topic is both relevant and very interesting to me because as a young first-time student I recently moved away from home, and was surprised by how difficult the financial aspect really is. This is relevant to almost everyone because we all will end up living on our own at some point; I feel this topic also interests me because I have a little sister preparing to move away for school as well and I want to pass on as much helpful information to her as I can, so she can succeed and not be as overwhelmed as I was when first living on my own.

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

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I would pass this information on to my little sister who’s planning to leave home for the first time to attend college and live alone. I learned a lot of valuable information but feel the most important thing I could pass on to her is learning how to properly budget her finances. I feel this is the most important thing to pass on because even if your income isn’t that great (while in school especially) understanding how to use your money efficiently allows for the best savings as well as minimal financial stress.

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This video is fascinating because it is focused on a book, but it is broken down into the most beneficial points which can influence the viewer toward a better financial future. The book title is The Psychology of Money by Morgan Housel, there are 12 lessons which are covered within the book and further broken down within the video. The benefits of these lessons are, they are for when an individual is preparing to live alone and how to continue being successful while being independent. To start, the attitude one has towards finances can be greatly shifted based on age; the attitude differences will cause a variety of different ways people will spend and save their money, so keeping an open mind and educating yourself in the financial world will give you the bests odds for a successful financial future. The video also explained compound interest and how even minimal savings can compound to give you more money than you thought was possible (many wealthy people are able to gain more money easily because of this). When planning to live alone it’s important to save as much as you can even if you have nothing, in particular, you’re saving for - you cant control stock or real estate returns but you can control how much you chose to save and spend. The important to focus on not making financial mistakes was also highlighted - losing money is more detrimental, than having a big win once in your life time. The last point I wanted to discuss is respect being more important than physical image; buying expensive cars and clothing is unnecessary and doesn’t let people respect you, but your possessions instead.

I chose this video because not only does it give the viewer a good grasp on basic financial understanding but includes some interesting points which can help someone planning to live alone. I found the fact everyone has different attitudes toward money which happens to be strongly suggested by the time they were born; this was interesting to me because it proves there's no one way of being successful, people have different views and this allows for success to be reached by taking different routes. In the end, this video is a helpful summary of a fascinating book that is surely beneficial to anyone looking to live alone, or someone struggling who may need some advice.

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The Book That Changed My Financial Life 🤑

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To start, this video highlights how important it is to start off your journey living alone with a plan as many habits you will pick up in this time are likely to stick with you for years, or even decades to come. This video is set up for someone planning to live alone and all the steps they should take in order to ensure a successful transition. First, make sure the place you're choosing is affordable for you; not just rent prices, but commuting as well, if your rent is affordable but you have a long commute to work or the grocery store the commuting fees can add up quickly - housing expenses should take no more than 30% of your income. Next, the importance of making a budget that works for you; everyone has different needs so as long as you create a budget that works for you and stick to it your finances shouldn’t cause extra stress. It is important to not spend more than you have, saving even a small portion every month is more beneficial than overspending. A simple piece of advice shared was learning to cook - cooking at home saves large portions of money which can easily be spent or saved rather than wasted on take-out. The last important point made was about understanding your lease agreement; this is important because not understanding could lead to penalties and unnecessary money lost due to misinformation.

I chose this video because I really liked how it was laid out and the way the information was presented. The breakdown is simple and goes step by step on what you should be doing, from where to rent, how to budget, and understanding contractual agreements which come with having a place of your own. The biggest difference between this video to the rest was the simple breakdown with steps on how to efficiently make a plan to live alone - but how there are things you can choose to splurge on and how it could affect your future. All in all, this video was easy to understand and great for beginners to get an idea of how to make a plan to live alone.

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8 FINANCIAL TIPS FOR LIVING ALONE! [rent, budgeting, money mindsets, and more]

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This video is set up like a discussion, two individuals talk about their experiences living alone for the first time and all the ups and downs they experienced during that. They explained how what they perceived as being affordable and what actually was were two very different things, so making a budget is crucial before planning to live away from home. They explain the location is important as well as how helpful roommates are, especially for the first place you live. They also explained it isn’t always easy, and eating cheap measles at home might seem boring or like too much work at the time but it saves you financially.

I chose this video because it was formatted very differently than anything else I came across. They chose to have a discussion and explain mistakes they made and things they did right for the viewers to understand what they can do to avoid these same mistakes. I enjoyed the honesty of the presenters and how they admitted to their mistakes, and the effects the mistakes had on them in the present time as well as the lasting impact which they carried with them for their next step in living alone. They also explained that it isn’t always financially feasible to live alone and accepting that is better than putting yourself in debt and having to learn the hard way

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Roommates vs. Living Alone | My Money Dilemma | WSJ

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This video was appealing to me because the presenter explained the importance of all the key points they were highlighting while also being sure to include resources to ensure listeners could follow these easy steps to a successful financial future. Like other videos, meal prep and eating at home was touched on because food can cause a major expense if not handled rationally. Making a grocery list to ensure you only buy what you need is smart and a great way at avoiding buying unnecessary things which will not fit in your budget. The importance of keeping documents and bills organized is also important, forgetting about a bill could result in the build of interest which is unnecessary money lost due to disorganization.
I chose this video because I thought it was unique due to how an individual was talking about how they adjusted their spending habits when living alone. Unlike other resources this video touched on the topic of cleaning, the burden it can be, as well as the cost; whether it be dry cleaning, cleaning products, or the time it takes to clean, budgeting your time is just as important as your money. Similar to what we did for a past assignment in class, they used a spreadsheet in excel to help keep track of their spending and this was the first step to making a budget! I liked how honest the presenter was and how they gave the listeners easy-to-access resources which ensured an easy setup for a beginner trying to learn how to budget.

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Adulting 101 for College Students // Budgeting, Meal Prep, Laundry, Organisation and Much More!