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how much before moving out?

how much money should i save before moving out

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Meghan’s Answer

I think it’s different for everyone. For instance, if you’re in school, if you have a job, it just depends on what you will be needing and what you’ll be doing. It also depends on how many expensive you have. For example, if you have a car payment, insurance, rent. And don’t forget to add a little things like groceries in emergencies as well. I think you should definitely have a couple thousand dollars saved up minimum just in case. That’s just my opinion everybody is different.
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anahi’s Answer

The amount of money you should save before moving out depends on various factors such as your location, living expenses, and personal circumstances. As a general rule of thumb, it's advisable to have savings that cover at least three to six months' worth of living expenses. This includes rent, utilities, groceries, transportation, and other essentials. Additionally, consider saving extra for initial moving costs, like security deposits and furniture. Assess your specific situation and create a budget to determine a more accurate savings goal.
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Brandon’s Answer

With what Anahi mentioned in their post, it will depend on where you live. Each location will have a different cost of living amount which can affect the price of bills and general cost of living expenses like food, phone bills, etc. I would say you would want to save up as much as possible when you first move out to see a general idea of how much money you are spending within a couple of months.

It is also recommended that you save 90% of your income for life needs like the bills, and 10% can be used for yourself (to buy clothes, entertainment, etc). This ratio is usually recommended because it allows you to optimize paying for your home based needs while allowing you some money to spend on yourself.
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