How do I move out from parents?

kmb500

BlaEm wrote: »

Seems the best thing to do would be to continue living at home with your parents while you save up a decent amount to help with moving out later. Look at all the options for decent savings accounts, help-to-buy ISAs etc to make sure your savings are doing the best they can.

You can continue to keep an eye out for any opportunities to move, e.g. if any colleagues' living situations change. And presumably in a couple of years some of your mates will be back from uni and will be looking to move out

Or you could look at some other options to private renting, such as property guardianship (cheaper, likely to have privacy although possibility of some shared communal facilities, but lacks the security of a tenancy.)

Renting is expensive - not just the actual rent, but council tax, utilities etc need to be budgeted for. You may find you need to make sacrifices e.g. getting a cheaper-to-run car, switching insurers, going for a cheaper PAYG mobile, cutting spending on any other luxuries.

What are your longer term plans for your career? Are you likely to want to stay for the 2-3 years to gain progression there? Or would somewhere else offer better opportunities? Would you consider moving out of the area to somewhere where rents would be a lower proportion of salary?

Overall I know it can be a pain wanting to get your own space, but don't rush in to the responsibility - you've got plenty of time

Yeah my friends will be back in 2-3 years, I am just wondering what the options are before then.

My car is relatively expensive, as I have a sports car, so high insurance and not very efficient in terms of MPG.

Career wise, yes I would like to stay where I am, as I have done very well for myself (in my opinion) I work for the local council and there are lots of opportunities arising within the workplace. A lot of people seem to move up and between departments, and I would just estimate that if I was there for eg. 2 years I could move towards a job that's higher up than where I currently am.

I am working in the best place I can. For what I do, no private business pays as well as the council does, and I have no education or qualifications. The best thing for me is to stay in my job, and at least in a couple of years I will have more experience. It can't look good to be flipping around between jobs every few months, and as I said, it is not possible for me to land a job anywhere that pays better at the moment.

Pixie5740

Ahhhh, that's what you were missing under the current essential costs If they're taking £500 a month off you and you need to spend £200 a month on a car because of the rural location then that could make renting a room somewhere not such a bad financial move although I note you can't do this for medical reasons, and a 1 bedroom flat is just too much of a stretch (financially) at the moment.

melanzana

If you want to move away, have you thought about getting an "ordinary" fuel efficient smaller car at all?

Thrugelmir

How much are you saving every month? Have you opened a HTB ISA?

Unless you are desperate to leave home. Make the most of the cheap living. Life will change in the future.

agrinnall

Given that your car needs £700 of repairs (from your other Credit Card thread, but strangely not mentioned at all in this one) that you can't afford I don't see you being in a position to move into a place of your own any time soon. In fact, the car is proving to be your financial undoing so getting rid of it and buying something more fitting your age and earning capacity would seem to be a sensible idea.

Trazy

http://www.rightmove.co.uk/property-to-rent/property-54289130.html

£425 pcm xx

missbiggles1

kmb500 wrote: »

Car is essential for getting to work as there are no public transport links. Half of that £200/month is insurance, rest is MOT + tax + any repairs + breakdown cover + petrol. In fact I would say £200/month is very optimistic, more like £250.

I am very pleased with my salary as it's a lot more than most people my age get. But I live in Cambridge which is an extremely expensive area.

I'm not sure what you mean by my salary doesn't reflect my area? My income isn't determined by how much everyone else in the area earns lol. My salary is what it is. I think it's very good given that I have been working for only a year, and hopefully I can go upwards but i dont know if it is enough to be able to move out from my parents.

But, if you move out, you could move somewhere you could get to work without a car.

Are you sure you can't house share as opposed to not wanting to?

matttye

Could your parents let you off some of the lodge for a couple of months to help you save up a deposit to move out, or do they rely on the money?

AdrianC

kmb500 wrote: »

My car is relatively expensive, as I have a sports car, so high insurance and not very efficient in terms of MPG.

Sounds like you need to prioritise, then.

squirrel99

Sounds like you have no idea how to manage money or how would you live on your own.

I live in Cambridge and room prices are not 600 if you don't expect to live in city centre. My friend rents a good double bedroom for 380 including bills.

Also, if you have a car and drive everywhere anyway, there are plenty of cheap flats/houses 10 minutes driving from Cambridge (i.e. Newmarket).

You say you need a car due to work location. So check out properties close to work - I bet you would afford something there.

Me and my friends lived on lower salaries while at university, paid rent and even managed to save.

You are a man-child if you can't look after youself with 21k without your parents' support