There comes a time in life that everyone wants to be independent of and soon they think of a way to start this new stage. Usually they start it by leaving their parents' house, but this is a very important decision, since bearing the costs of a home requires planning and financial discipline.
IBE / FGV economist and professor Paulo Grandi explains that the first step before living alone is to get organized financially and to know if there is money to cover the costs. Make a list of expenses such as rent, water bill, electricity, transportation, food and others. Finally make sure you have enough income to cover these bills? Explains the expert.
He warns that the person needs to have stability with this income. ? Avoid making this decision when you are unsafe at work or have recently been with the company ,? warns Grandi.
Don't forget to budget for smaller everyday expenses as well as your usual personal expenses like leisure and education. If necessary, review your personal budget and readjust values.
You must also have a reservation for the purchase of furniture in the house. Try not to enter this new stage with debt or installment payments for the future, so plan and do a lot of price research to furnish the property. Remember, who pays in cash guarantees more discount on purchases. If you have to choose financing, include the amounts in the budget and check again if you can afford the costs.
Another way out of a parent's house is to share a space? House or apartment ? with a friend. This decision drastically reduces costs, but be aware. "Make sure that the person you share the expenses with can afford to take their part because if they do not honor you, you will have to pay more money than you planned," warns the teacher.
Another precaution to take is the affinity with the other resident. Often both may have relationship problems that they cannot solve and thus damage the partnership. And breaking lose a friend and get a headache.
As for the choice of property you need to evaluate each case. Often paying rent can be more advantageous than opting for a financing, which is usually long, with terms of 20 to 30 years.
Planning is the key word. With good planning you will surely achieve your goal of living alone faster. “Plus, control your budget and don't spend more than you earn. Set aside a portion of the proceeds to cover expenses in case of emergencies and also make investments ?, concludes the teacher.
5 Helpful Tips For Living Alone (March 2024)
- Career & Finance
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