Don’t Fall Into a Hole When Going It Alone

Moving away from home and to the big city can be terrifying, exciting, and everything in between. If it is your first taste of freedom, then the feeling of going alone is liberating, getting to do whatever you want, whenever you want, and having no one to answer to.

But just because you can do whatever you want, doesn’t mean that you should. Being independent means just that, you can’t rely on mum and dad anymore to get you out of any financial messes, and you certainly can’t go running home at the first sign of trouble.

Many people go it alone but get too into the whole idea of independence. This typically leads to problems with their money, especially if it is their first time dealing with things such as utility bill, phone contracts, and transport.

Live With Someone

The last thing people want to do when finally realising their freedom is to move in with someone else. They want the privacy that a single room will provide them, but in the big cities, renting your own place can have disastrous effects on your finances.

Because of this, it is wise to research rooms to share and look for a someone who is after a roommate. Sharing the load when it comes to renting will ease the costs as well as help with your personal life. At least you know someone, even if that someone might be a bit odd.

Seek Out The Bargains

If you grew up with your parents doing all the shopping for you, then it is tempting to just follow their lead and buy your food from the same places they did. However, it might end up that this costs you more than it is worth.

When moving to a new city, seek out the bargain supermarkets and other essential shops early, so you don’t get stuck in a habit. Just because there is a Waitrose across the road from your flat doesn’t mean you should stick the convenient option. There are lots of other options available; you just need to seek them out.

Learn To Budget

Learning to budget is something that sounds boring, right? But if you want to ensure that you don’t fall into some financial quagmire, then knowing exactly where your money is going will help you overcome any potential issues.

No longer do you need to worry about sitting down and doing all the maths yourself, there are hundreds of budgeting apps on the market, some of which can be linked to your bank account, to do all the hard work for you. These apps can be a lifesaver when struggling to understand how you spent your whole paycheck in a week, so don’t miss out on this opportunity.

Jump Over That Hole

Approaching independence with the goal of financial freedom will save you from the horrors that many people initially encounter when going it alone. While you don’t need to become a hermit, understanding what you can afford to do before anything else is essential towards ensuring your financial future is stable and secure. Once this is achieved you can live however you want; you’ll have the money for it, after all.

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