How to afford to leave home

One of the hardest parts of leaving home for the first time is definitely being able to afford it. There are so many expenses that you will come across that you didn’t know about. It’s an expensive process starting with paying fees, deposit and rent, to furnishing the property and making it homely, and then to paying all of your monthly bills. I know how stressful it can be, more-so if you are doing it on your own or at a young age. It is a lot harder than it seems. 

Below are the templates I created and used when moving into my new flat so I could manage my money at each different stage of renting the property. The documents helped me a lot and prevented me from struggling along the way. 

  1. The first document I put together was a list of all the fee’s I may receive during the application process. I used it by doing online research so I had a rough idea of how much things might cost to give me a basic idea of the amount of money I would need. You can download it by clicking here.It’s a good idea to use this template just so you have a rough idea. 

2. The second document I put together is purely for the reader’s benefit. This shows you how to work out costs such as gas and electricity, contents insurance, council tax etc. It also helps to give you a checklist of all the costs you may incur that you might not have thought about. It gives you links to the correct websites so that you can set up your bills and research prices. It’s everything I have learnt since I moved out. Download it by clicking here

3. The final document I put together is one I use myself at the beginning of each month. it helps me add up all of my outgoings and allows me to keep track of what I am spending money on. I can then see how much of my income I will have left to spend after paying all of my bills. It also helps you account for any surprise bills and charges. This is a really handy budget table and can be altered and used by anyone. Download it by clicking here.

 

Over the next few months I’ll be offering more advice for people leaving home for the first time and also for renting. If you have any questions or need any advice please contact me.

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