Living on Your Own for the First Time

Life presents many challenges for young folks living on their own for the first time. It’s a realization of the many responsibilities that now rest at your feet. You have to clean, cook, work and pay bills by yourself. It isn’t any wonder that many young college students find themselves a bit short at the end of each month. With school as the main focus for obvious reasons, you may not be able to put in the number of hours you need to afford your place of residence and lifestyle.

Getting over the hump and starting a new 

If you find yourself a bit behind at the end of each month and dialing up mom and dad is no longer an option, there are other ways to acquire the money you need to make ends meet. For the immediate future, you could always apply for alternative payday loans online. These type short term loans have various repayment options available from a few months to up to a couple of years. This lets you repay the loan in small, affordable monthly payments.

Earning money through teaching or tutoring 

In order to afford your apartment and lifestyle, you have two options. You can either find ways to bring in more money or you can cut back on your expenses. If you are top of your class, many teachers look for a student just like you to fill in for classes or to tutor students who need a little help. Most of them are on campus and generally only require one or two days a week for a couple of hours. If you are a freshman or you aren’t sitting at the top of your class you could still find work in the library and other areas of the campus. Usually, there are boards where open jobs are posted weekly. You could also search the web for writing or blogging opportunities. Many pay quite well for just a few hours per week. You could even drive for companies like Uber. There are many ways to earn extra cash.

Lowering your monthly expenses

If you have a cell phone and you chip in for cable, rent and electric with your roommates, you can save money by checking out other companies to see if their rates are lower. A cell phone can become quite expensive running for a single person upwards of nearly $100.00 a month. If you have an individual plan in your name only, you can contact the service provider to find ways to reduce the bill. It may end up something as easy as reducing your minutes. If there’s nothing that they can do, shop around. You can even get a prepaid phone, if need be, in order to get back on track. You can handle the cable bill in the same manner. If you have one or two roommates, there’s a good chance that they want to lower their expenses as well. Again, if you need to, as a last resort you can always switch to basic service for a few months. You can always rent movies from other sources like the Redbox or Netflix for a lot less money each month. You can save money on groceries and essential supplies by shopping at discount retailers. Go online and check the local supermarkets, large chain retailers, and even the pharmacies to see who does have the best prices.

Budgeting your money

Life is full of constant surprises, most often at the most inopportune moments. In order to stay afloat and avoid falling behind on your credit cards, school loans, and monthly rent, it’s important to set up a budget. Now is a great time to do so because you have just a small amount of debt and monthly required payments. If you get into good spending habits now, you’ll have all the lessons learned by graduation and before settling down with a family somewhere.  Budgeting is rather simple. The hardest part is not giving into temptations and impulses that come along. If you want something that you don’t have the money for, save up for it versus putting it on a high-interest credit card. This way you’ll pay only what the actual cost is and you’ll appreciate it so much more.

Life comes with ups and downs that test your strength and resilience. If you learn how to live within your means and establish a budget early on, you’ll end up with excellent spending habits that will afford you the things you deserve including a home and a car.

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