- Premier America
Moving out is a major milestone. Whether you're heading off to college, landing your first full-time job, or just craving some independence, living on your own comes with freedom—but also responsibility. It’s not just about finding a place with cool vibes or trendy decor—it’s about being financially ready for what’s ahead.
Before you pack up and head out, let’s break down the real cost of moving out—and how you can start preparing today.
First Things First: Create a Budget
Budgeting isn’t just for “grown-ups”—it’s your financial roadmap to adulting. Here's a list of the most common monthly expenses when you move out:
Rent
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Your biggest monthly cost. This will vary depending on your city, but always budget for first and last month’s rent + a security deposit when moving in.
Utilities
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Power, water, internet, trash, and sometimes gas. Some apartments include a few in the rent, but many don’t—be sure to ask before signing a lease.
Furniture & Essentials
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Don’t forget about the up-front costs like a bed, kitchenware, laundry supplies, and toilet paper! Even thrifted or hand-me-down items can add up fast.
Groceries
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You’ll need to eat! Budget about $50–$75 per week depending on your diet. Learning to cook = major savings.
Transportation
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Whether it’s gas, insurance, ride shares, or public transit, transportation adds another layer to your monthly budget.
Wants vs. Needs: The Adulting Reality Check
Once you’re managing your own money, it’s easy to confuse wants with needs. Here's how to stay grounded:
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Need: A mattress to sleep on, Groceries and toiletries, and Basic internet service, etc.
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Want: A designer bedframe, Daily coffee shop runs and takeout, and Top tier streaming subscriptions on every platform etc.
Smart budgeting is about prioritizing the needs first—and saving up for the wants later.
Don’t Move Out Without a Safety Net
Before signing that lease, make sure you’ve:
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Saved up at least 3 months of expenses
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Set aside an emergency fund
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Opened a smart spending account for bills and a savings account for goals (we can help with both!)
Thinking about moving out soon?
Visit a Premier America branch or check out our Youth podcast episodes for more real-world money tips made just for you.