Jee, I can remember this like it was yesterday. I was so nervous. But believe me, eighteen feels no more different than seventeen other than you hitting a milestone by becoming an adult.
I do want to advise you that living on your own is not as easy as you think. Take all of this into consideration. You might want to really, really think about the entire picture. It is much much harder than living at your mothers. So please, think long and hard about it, and i'll giv you some suggestions from my personal experiences.
1. Factor in the cost of rent/mortgage. Most young people start out renting: however, it is best to own. Of course, you'll need credit before a lender will give you a loan for a home. A good and quick way to build up your credit is to get a couple of secured credit cards. Secured credit cards is when you put a certain amount of money towards the card, and you borrow against yourself. It is treatd like a regular credit card that you cannot be late on your peyments. If you are, negative marks will go on your credit report thus lowering your score. When the creditors see that you can pay your bills on time for a period of time--a varies for each credit card issuer--it will turn into an uninsecured credit card, meaning that you won't be borrowing against yourself. Try to get those now so you can start building before the age of eighteen. But back to the renting and owning thing. Make that as part of your budget.
2. You'll want to open a savings and a checking account. the checking account will be for bill paying, and the savings will be for money that you should be saving for a rainy day. I urge you to put away at least $100 a month, and do not touch it.
3. To shop cheaply for cleaning supplies and toilet paper, go to the dollar store. When you are at the grocery store, do not shop name brand. Buy everything generic. This is what I do. Walmart will also become your new best friend.
4. You'll also need to factor in the price of car insurance and gas, as well as your other utilities, such as gas, electric, and water. If you'd like, do some research. Call your utilities' companies in your area and get the average price people pay for utilities. Electricity and gas are monthly, and water is quarterly. You can even talk to some other people to get an idea. Here, I try to keep electric under $200 a month. The water bill under $50, and the gas at no more than $50. You always want to budget at least twenty percent higher then you'll normally spend to allow you some room on a rough month or on a month you accidently consume more than planned.
This is my two sense. I hope it helps.
It is very hard out here.