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Old 03-20-2008, 05:53 PM   #1
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Default Turning 18 soon, Need help

Im turning 18 in june and need help preparing myself. Im moving out that month. Ive heard that its best to stay at your parents for as along as possible, but i would like to grow and mature myself, so what are things i should do to help myself. I will be attending part time school, and a full time job. Im studying to become a Network Admin, etc. These things are what i considered...

What should i do with money? ( i.e. accounts, etc)

Where should i shop? (markets, online, etc)

What is the best thing i can do? :/

I would really like some help getting set on the things i need to do to start my life of...

thanks guys
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Old 03-20-2008, 06:17 PM   #2
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Default Re: Turning 18 soon, Need help

Plan out a budget. And be realistic. Ask your parents how much everything costs, calculate that with how much you are making a month, and make sure your not going to have less than $0 in your account.
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Old 03-20-2008, 06:26 PM   #3
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Default Re: Turning 18 soon, Need help

don't take it too seriously.
I moved out when I was 15. You don't have to plan a budget or anything like that since you have a full time job. Ohh and not plan a budget doesn't mean that go and buy a ferrari with your first pay check, it means that don't spend too much money on stupid things and you will be fine.

What to do with the money? Well I have 2 bank accounts, 1 is the one that I use for everyday stuff and the other is a saving account. Pay goes to the one I use for everyday stuff and then once in a while I transfer a few hundred euros to the saving account. This is because the saving account has higher intrest and if I lose my credit card then the random guy who finds it can't withdraw all my money.

Where to shop? Dude, you are going to be working full time. Shop where ever you want to.
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Old 03-20-2008, 06:35 PM   #4
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Default Re: Turning 18 soon, Need help

you heard that it's best to stay with your parents as long as possible? I'm pretty it's the opposite.

As far as what you should do, there isn't much. Find a place to live, either buy or rent. Go to a grocery store to buy food so you have something to eat. Pay your rent and your bills (just like a good little working person). And I would suggest getting a credit card.
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Old 03-20-2008, 06:40 PM   #5
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Default Re: Turning 18 soon, Need help

Quote:
Originally Posted by Š88 View Post
you heard that it's best to stay with your parents as long as possible? I'm pretty it's the opposite.

As far as what you should do, there isn't much. Find a place to live, either buy or rent. Go to a grocery store to buy food so you have something to eat. Pay your rent and your bills (just like a good little working person). And I would suggest getting a credit card.
As long as possible could be wayyy too long. In my case.. maybe until I'm 20 or 21.
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Old 03-20-2008, 07:02 PM   #6
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Default Re: Turning 18 soon, Need help

It's good to start off on the right foot.

I can't remember if it was both of my parents or not, one of them got a job locally and saved a ton of money by staying with their parents for a year. That way you don't have tons of debt and crap. It's good to avoid that as much as possible.
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Old 03-20-2008, 07:30 PM   #7
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Default Re: Turning 18 soon, Need help

when you get a paid each week or month or however you get paid. Pay all of your bills first. Then the money left is yours to spend or save or whatever but if you pay all your bills before spending on anything else you can't go too far wrong.
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Old 03-20-2008, 07:48 PM   #8
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Default Re: Turning 18 soon, Need help

I would try to get your parents to help you with money right now and save. For shopping you want to look good but for now when your not making the big bucks yet shop at less expensive shops.
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Old 03-20-2008, 08:08 PM   #9
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Default Re: Turning 18 soon, Need help

im moving out soon too, mabey around the mid 09 time,

by then, ill be like 19 1/2
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Old 03-20-2008, 08:40 PM   #10
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Default Re: Turning 18 soon, Need help

Thanks for the replies guys, ill take all of it into consideration!
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Old 03-20-2008, 08:43 PM   #11
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Default Re: Turning 18 soon, Need help

I'd say don't move out until you finish your education, but I guess that is just my mentality.

The way I look at it, you are going to go to college, then grad school... you have a good 8 years of school left. Plus you are going to have to pay for those. Why not just stay at your parents 'till you have a job?

I personally am not going to move out until I am 24, if not later, and my parents really do not care all that much about it.
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Old 03-20-2008, 10:09 PM   #12
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Default Re: Turning 18 soon, Need help

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.
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Old 03-20-2008, 10:23 PM   #13
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Default Re: Turning 18 soon, Need help

That's true. I make a decent amount of money at 19, but not enough to comfortably support myself with just that income. I'm making $16/hr full time. Comes out to $1000 every two weeks after taxes. So $2,000 a month. Factor in rent (Which is typically $400 for me), gas, insurance, phone bill, miscellaneous things like my car needing a lot of maintenance, etc. etc. and it doesn't leave much at all.
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Old 03-20-2008, 11:32 PM   #14
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Default Re: Turning 18 soon, Need help

the detailed replies are very helpful. Ive thought and done a spreadsheet on things i would need to factor into the equation. I can see its very hard. But im going to do my best
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Old 03-21-2008, 08:03 AM   #15
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Default Re: Turning 18 soon, Need help

Well, I wish you the best on it. It is a good thing you have a job with a steady check. It is tougher when you are a business owner, then you have other worries. It just involves creativity then. Nonetheless, I hope things work out.
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Old 03-21-2008, 09:56 AM   #16
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Default Re: Turning 18 soon, Need help

Quote:
Originally Posted by Š88 View Post
you heard that it's best to stay with your parents as long as possible? I'm pretty it's the opposite.

As far as what you should do, there isn't much. Find a place to live, either buy or rent. Go to a grocery store to buy food so you have something to eat. Pay your rent and your bills (just like a good little working person). And I would suggest getting a credit card.
Credit card for a typical kid = very bad idea. Stick with a debit card for now if possible. You don't want to ruin your credit already...
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Old 03-21-2008, 12:28 PM   #17
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Default Re: Turning 18 soon, Need help

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Credit card for a typical kid = very bad idea. Stick with a debit card for now if possible. You don't want to ruin your credit already...
not it's not a bad idea. I have had a credit card since I was 18 and it's just about being responsible. It's not very hard to do.
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Old 03-21-2008, 12:52 PM   #18
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Default Re: Turning 18 soon, Need help

Any Preparation before moving out should start by looking at the area you want to live in, get to know some locals and find out a bit about the community,look at the rent prices and give yourself a target of what you think its going to cost you all in(all bills) then consider what your living requirements would be, food, clothes, petty cash to go out with, once you have your overall target then loo around for a local job that meets them recommendation's(unless you already have one), Are you happy living on your own? maybe renting a flat for a couple of weeks as a trial to see how you cope and feel, if everything is fine then make it permanent, don't go gung ho and regret your actions do it slowly and carefully and you will not enjoy your freedom and build your own empire as you see fit.
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Old 03-21-2008, 02:01 PM   #19
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Default Re: Turning 18 soon, Need help

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not it's not a bad idea. I have had a credit card since I was 18 and it's just about being responsible. It's not very hard to do.
Depends on the kid I guess...
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Old 03-21-2008, 02:08 PM   #20
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Default Re: Turning 18 soon, Need help

Save as early as you can too... That will make a big difference later on.
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