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Citizens Blog

Ready to live on your own?

Moving Ready to live on your own?

Moving away from home?
Things to know when you live by yourself for the first time...

Living on your own can be both exciting and challenging, it helps to be aware of all the challenges and benefits as you prepare.  

Check out these three things you might not have thought about or just need to revisit.    

 

#1 - A budget is important

Having a budget can make or break your first experience. Start with a simple strategy. Track your spending and add up your expenses. Then, subtract them from your monthly income. Always be realistic with your bills.  If you buy a daily coffee, remember to add that in your expenses. 

 

Pro Tip: Set up direct deposit into your savings account to build up an emergency savings fund. The goal is to have at least three months of living expenses saved up in case of a big life challenge. Contact a Global Coach for help setting up your plan.

 

#2:  Independence takes practice

It is natural to be overwhelmed after the excitement wears off. It's ok to be homesick. Even exciting change can be difficult. And, wow! There is a lot to learn when you first live alone. For example, you need to learn how to clean, how to make your own appointments, what to stock in your home, how to do your laundry and the list goes on.

 

Being on your own means making your own decisions and there are a lot of decisions to make. Learning to make decisions gives you the opportunity to become more self-aware and encourages you to grow as a person. You might make a few mistakes but that is okay. 

 

Pro Tip: Start a weekly routine and set aside time to tie up loose ends and to consider what decisions you might struggle making. Making a list often helps with the decision-making process. 

 

#3:  It might be stressful...and that's ok

Living alone can feel stressful and it takes a conscious effort to make your new living arrangement work for you. Change can feel chaotic, so find strategies to stay organized. Create a to-do list to keep track of everything you have to get done.

 

Another way to help manage the stress is to stay active. Everyone can afford a daily walk or a free online yoga session - and exercise will keep your body and mind healthy and reduce stress.  

 

Pro Tip: Manage stress by creating dedicated spaces for work, for study and for relaxing. No work in your relaxing space...that way stress isn't allowed in your space when your trying to get some rest.  

 

Hopefully these tips help make this exciting change a little less hectic. The transition may seem challenging; however, it can be a wonderful new chapter in your life.  Remember, you can always contact a Global Coach to discuss financial tips in more detail when you transition into living away from home. Text us or call us.  Learn more here. 
 

One more thing:  Check out our online FAB, Finances and Budgets.  Each module only takes five minutes and it's a great way to expand your financial knowledge. Click here

Written By
Crystalena Lightel
Internal Communications & Programs
With degrees in Communications and Journalism, it's easy to see why Crystalena loves writing. With a newly expanded family, free time is at a max. She loves book club and finds time to get outside.


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