Hey everyone! Anya here.
Today, I want to chat about something many of us face when we’re starting out: the big move from our parents’ house to our own place. It’s a huge step towards independence, but let’s be real, the cost can feel a bit daunting. I’ve heard from a few of you (and experienced it myself!) who are making around $3,000 a month and looking at rent that takes up about half of that. It’s a super common situation, and figuring out how to make it work is key.
So, rent is roughly $1,500. That leaves $1,500 for everything else: food, utilities, transportation, fun, saving, and of course, art supplies! It’s totally doable, but it requires a smart approach.
1. Get Crystal Clear on Your Budget
First things first, we need to know exactly where every dollar is going. Beyond rent, list out all your fixed expenses (things that stay the same each month, like loan payments, subscriptions) and your variable expenses (things that change, like groceries, gas, going out). There are tons of great budgeting apps out there, or you can keep it simple with a spreadsheet or even a notebook.
2. Hunt for Smart Housing
Living alone is the dream, but sometimes sharing a space is a more realistic first step. Consider finding a roommate. Not only does it cut your rent in half (or more!), but it can also mean sharing utility costs and having a built-in buddy for movie nights.
Also, think about location. Rents can vary wildly even within the same city. Could you find a slightly smaller place, or a neighborhood that’s a bit further out but still accessible? Sometimes a 15-minute longer commute saves you hundreds on rent.
3. Trim the Fat (Without Sacrificing Joy!)
This is where we get creative. Look at your variable expenses. Are there subscriptions you don’t use? Can you meal prep to save on eating out? Could you find cheaper alternatives for entertainment?
For example, instead of buying new art supplies every time, maybe you can trade with a friend, look for sales, or even repurpose materials. I love finding inspiration in unexpected places and sometimes that means using what I already have in a new way.
4. Boost Your Income (Even a Little!)
Can you pick up a few extra freelance gigs? Sell some of your art or prints online? Even an extra $100-$200 a month can make a big difference when you’re stretching your budget.
5. The Long Game: Saving & Future Goals
Even with tight finances, try to set aside a little for savings. An emergency fund is crucial, and so is saving for future goals, whether that’s a bigger place, a new art studio, or just a cushion for peace of mind. Automating even a small transfer to savings each month can help it grow without you even thinking about it.
Moving out is a big adventure, and it’s totally achievable with a bit of planning and smart choices. It’s about finding that balance between independence and financial sense.
What are your best tips for saving money when moving out? Let me know in the comments!