Financial Ramifications for Teenagers Moving Out of Their Parent’s House

Are you a teenager wondering “how much money do I need” to be able to sustain myself? To live the life I desire for myself? If you are, you are not alone!

We live in a society where one’s personal worth may be measured in terms of how much dollars one can gather up to live the “good life.” Think of the entertainers, the business people, and the heirs to wealthy billionaires. There are popular magazines naming the annual who is who by telling us the net worth of the people. It is as if one cannot be defined without the money equivalent attached. Money takes us to places, purchases us our wants and desires, and it has become the yardstick by which our progress is measured.

Everyone needs money at some point in his or her daily life. Take teenagers for instance. They rely on their parents predominantly for their feeding, shelter, and clothing. These things cost money which the average teenager does not have. They are needs; everyone must eat to stay alive, everyone needs a roof over his or her head, and everyone needs clothing to protect the body from exposure to dangerous natural conditions such as cold/ pneumonia. The question of how much these things will cost boils down to the quality or brand of clothing, the kind of food, and the location of the habitat.

One can easily go through the day overspending if he or she does not keep track of money management. As we go from here to there, it is easy to spend a few dollars on junk food without realizing that these are expenses. We often do not add these to our normal expenses because we take them for granted. We don’t consider junk food after lunch as a meal, nor do we look at occasional bus fares as transportation costs. Until we change our way of viewing and tracking our spending, most people are going to keep spending more than they really need to on things that they can truly do without.

If you are a teenager considering making a move out of your parents’ home, consider the financial ramifications for your actions. Yes, it is easy to think that you need your space because Mom and Dad are driving you through the roof with their rules; the 11:00 PM curfew, the way your room should look, or which person is best for you. It might sound like a terrific idea to get your own place, but bear in mind that everything is attached to that mighty green bill. The following breakdown of expenses may help you think of how important money is in living the life you want or need.

GETTING AN APARTMENT – These days, renting an apartment can be very costly. Depending on where you are, the rental of a 1 bedroom apartment can go from $700 to $900. Two bedrooms can go from $1000 to $1250. Again, this depends on where you are looking. Most people try to meet up by rooming with others to make the cost more manageable. However, your privacy and that greatly needed independence may not be achieved after all. You get what you pay for. If you want a less expensive location, you can usually find it but it may be unattractive, may be further away from the city, or there are not much opportunities available. You need to do your homework before you start packing your things.

FURNISHING THE APARTMENT – Once you have your apartment, it is usually a natural reaction to want to furnish it with a sofa, a table, and perhaps a television with cable. Don’t forget the bedroom; which needs a bed. These are money waiting to be spent. There are plenty of low second hand shops where one can bargain for great prices on decent items. But either way you look at it, you are going to spend and spend. Telephone is another necessity. It will not be wise to live without one in your new home, as emergency situation may arise that won’t be dealt with by walking to a pay phone.

UTILITIES: Most apartments do not take care of the electricity and gas bills. You will then need to make sure you call your local provider to set it up for your apartment. They will bill you either monthly or bi-monthly so you need to add that to your cost of living. Some apartments pay for water, but find out from the management before you miscalculate.

MISCELLENEOUS EXPENSES: Hooking up your new place will not be easy. But if you really want to start and you are ready to experience the emancipated life, do go ahead. In your new place, you will need things you might have taken for granted at your parents’ house. Silverwares and dishes for your kitchen, towels for your bathroom, lamps and light bulbs for your rooms, toiletries such as soap and toothpaste to keep your body hygienic. Did I mention you have to do your own laundry now? And that costs money too? Reason well before you make that big move.

Getting your life of independence from your parents can sound like a lot of fun, but think twice. When friends visit you, you might be expected to run some bills. You would need to entertain them with food or drink. That is money. Normally, when you were still at your parents,’ that will not be a problem. You just whisk to the kitchen, check in the fridge, and viola! You have food, you have drink, and you entertain. Now, you have to think twice before you do that because you are running the show. You think harder now before you spend provided you realize all that you will need to sustain and live on your own.

I am not trying to deter you from living on your own. Quite the contrary. I’m merely advising you on the things involved with living and how important money is in living the life you desire. Should you wait a while before freeing yourself from your parents’ care? Can you handle the hassle and bustle of being in charge of your own life and care in your teenage years? Best wishes as you decide!

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