First Time Home-Leaver

[XyiDai]

Okay well I understand this discussion area may be for peoples statements and stuff but I am asking for advice. I am a 17 year old year 12 student getting ready to move out, 2 hours away from home, with my other half to attend University and work etc. I would like some advice on how to budget for my first time living out of home and everything that may help. I need to know how to manage bills, rent, bond, shopping and everything like that. We are looking for a one bedroom flat near the Uni so I don't have to drive [I have no car and just my learner license]. Does anyone have any ideas or plans that will be effectively helpful??
I need some serious help..

Thanks
KJ

[Seeker]

This article is not too old: Students rely on safety net - Queensland - BrisbaneTimes - brisbanetimes.com.au

I have no idea about the prices in your country, but it sounds as if rent runs about $150/ week?

How to Move Out of Home, Part One. | News.com.au Squanderlust Blog

Essentially, the approach you might want to take is to add up all the costs you expect to pay. Use this if you like: Finance calculators - financial comparisons and information from Infochoice

Education is not included in the above, but will run some amount of monies as well.

Add it all up and see how your combined income compares to expected expenses.

Do you also work and earn income? Are you both going to be working and attending Uni?

Both of you will need to plan together for this and come to an understanding of expectations, together.

[Radiance]

KJ,

First of all I commend you on your diligence, sure I wish I had that insight at 17!

ok to your questions, one at a time

1)How to manage bills
ok, this can be done in old plain spreadshet, I use google docs which is free. it depends on your style. How comfortable are you with spreadsheets? if not, I can guide you how to do it in paper.
This can be the starting point to your busget.

2) Rent - this is just a type of bill, possible your biggest one

3) Bond - not sure what do you refer to here

4) Shopping, I assume you mean grocery shopping?

ok, now question for you
Do you have a checking account, a savings account?
Do you know what your income will be
Do you have a credit card, careful...

Will be waiting for your answers for next step. Sorry, it is the teacher in me. And the mom, and thinking about me at 17, I too left home at that age to attend university.

Congratulations again!