Living alone sounds super exciting and liberating, while at the same time, it can make you feel a bit nervous too, especially if it is the first time that you are living on your own. It can get lonely, and it can be tough managing all the expenses living on your own.
What Do You Spend On?
How do you make it on your own with little money? Is it your first time and you are wondering how much money a month to live on your own in 2022? Here is a breakdown of all the areas you need expenses for, such as:
⦁ Utility bills such as electricity, heating, cable, internet, gas, and water
⦁ Food and groceries
⦁ Commute and transport
⦁ Going out
How to Live Successfully On Your Own
Living alone for the first time can be quite overwhelming. It’s better to be mentally prepared for it so that things don’t get too out of control. Here are some valuable tips for living alone for the first time.
Make a Budget
If you have always lived with a roommate or a partner, then you are not prepared for the costs that can pile up when you are living alone. Having a roommate helps with paying the bills as everything is split between two people. The rent, utility bills, groceries, maintenance costs, and even food delivery. It can get quite expensive. You might feel broke just as soon as your paycheck arrives because you are paying so many bills that you weren’t prepared for. If you are wondering how to live alone financially with low income, here is how you can spend your money.
How to Budget For Living on Your Own
A budget calculator is a great tool that you can use to help you calculate how much does it cost to live on your own. Cost of Living Calculator by Dwellics™ is a fantastic tool that you can use to help budget your month when you are living alone. It helps account for your expenses, and taxes and calculates how much you should be spending on each of your expenses according to your income. If you are moving to a different location, the cost of living calculator can help you calculate whether you can maintain the same lifestyle with a certain income in a different city.
Plan Your Meals
Try to make a schedule for what you will be eating and how much you will spend on food for the entire week. You may prepare your meals in advance and freeze them. Cooking your own meals helps cut costs. Organizing your meals helps save time as well.
Shop Sales and Second Hand Clothing
Look for sales and stores where you can buy second-hand clothing in good condition. You can save a lot of money by spending a minimal amount on clothes. Sometimes you can fill up your entire wardrobe with essentials on amazing sales.
Shop Second Hand Furniture
Many people get rid of furniture that is barely used. It sells for a lot cheaper than brand new furniture. Look for second-hand furniture online or in garage sales and see if you can find a good deal. This is a great way to save money rather than buying brand new furniture that costs too much.
Set Up a Savings Account
Even if you can manage to save $5 a month, it helps to make a savings account and keep putting in the extra cash. Try and set a goal to save 20% of your monthly income and put it in a savings account. This is the money that can come in handy in case of emergencies.
Living alone can be exciting and liberating. You can finally do anything you want at your own time and pace. But it can sometimes get scary and lonely, especially if you are returning home late at night. One important tip to remember is to change the locks as soon as you move in. you don’t know who might have keys to the previous locks. Invest in a security system if you are worried about your neighborhood. Be careful not to drink too much if you are going home alone, and try not to be out too late. We have already provided safety tips on our blog.
It is important to keep things clean right from the beginning. Get into the habit of cleaning up your mess as early as possible. The more you save it for later, the harder it gets to clean up. Sure, you are living alone, and there’s no one to nag you about being messy, but eventually, you don’t want to come home to a messy and dirty home. Do your dishes immediately, take out the trash and try not to eat on the bed. Organizing everything properly also helps save time, and you don’t waste extra time looking for stuff.
Get To Know Your Neighbors
It helps to get to know your neighbors. It’s nice to have a cordial relationship with your neighbors in case you ever get locked out of your place and you need their help, or in case you need them to receive a parcel for you. There is no harm in exchanging pleasantries with your next-door neighbors. Perhaps they will become your friends in the future. It is not easy to make friends in a new state.
The Final Word
Living alone is an experience that one learns from in so many ways. You become stronger emotionally and financially, and it can teach you many life lessons. Enjoy it while it lasts but be smart and budget well as it can be expensive to live alone. Expenses can pile up and can weigh down on you. But by planning well and using a budget calculator, you can rest assured that it will be alright.