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Trying to leave your parents' basement? Yeah, it's probably time you leave the nest. Today's contributed post discusses how millennials can make money by moving out of Mom and Dad's. Enjoy!
When it comes to expenses in your twenties, moving away from the family home is top of the list. You’ve finished education, and someone’s actually paying you for your time. So, of course, the next logical step is to move into a home of your own.
Whether you’re lucky enough to buy a house or are moving into a rental; this money stuff is about to get real. Forget saving up for new clothes. Now, your finances will be tied into a knot of rent, bills, and general maintenance. Not to mention the fact that renters will have to pay deposits and months in advance. Those buying homes will have to fork over even more to secure their new living space.
In short; this whole thing is a headache of epic proportions. While a necessary part of growing up and making a life for yourself, it’s sure to wound your financial situation. And, that’s far from ideal given that the money in your account is now going to be more important than ever.
Sadly, we’d be lying if we said we could ease that sting. Costs like these are just something you have to sit up and face. But, it’s not all financial gloom. What do you do when you’re moving out of home? You pack everything into boxes, of course. And, that process alone could be the sunshine behind your financial moving cloud.
How, we hear you ask? Read on to find out.
Let’s be honest; our childhood rooms are usually filled with a whole load of rubbish. That’s the way it goes. If your room is anything like most, there are still toys at the bottom of your wardrobe from your pre-teen years. During the packing process, there’s a chance you’ll find clothes which haven’t fit for years, and old games you don’t remember playing. In fact, by the end of the process, it’s not unusual to have as many boxes to get rid of as you’re taking with you. But, instead of getting rid of all that stuff, why not sell it and see what you can make? Sure; it’s unlikely the amount you get back will come even close to the deposit you’ve just parted with.
But, you may be surprised by how much you can get for this stuff. Electricals, in particular, can fetch a pretty penny. Old game consoles especially have gained rather than lost value in recent years. Blame our love of anything ‘retro’. Even if you don’t have anything like this, you could head to sites like buybackexpress.com today and sell any old games or CDs you find along the way. We all have at least a few of these lying around the place. And, if you sell enough, you could soon start pulling the dollars. Equally, sites like eBay provide the perfect platform for earning from old clothes. In case you hadn’t guessed by now, your unwanted items could see you at least making some money back. And, given how hard times will likely be for you from now on, this is an effort well worth making.
We all lose money now and again. In fact, if we add up how much we’ve lost over our lifetimes, the amount can be pretty shocking. But, guess what? A whole load of it is probably at the bottom of your drawers or hiding under your skirting boards. So, with a bit of luck, you’ll find as you pack.
Again, it’s unlikely you’ll have a fortune when you’re finished. But, it all adds up, and you’d be amazed at how many dollar bills are hiding in your corners. At the very least, the money you find here will cover any time you have to take off work for the move. Add this to the profit you’ll make from selling your unwanted items, and you’ll soon see your pockets lined again. Either that, or you could use these small amounts to start breathing life back into your savings.
You can also save money here by getting efficient with your packing methods. As it stands, you may see no choice but to hire a moving company to help on the big day. But, this can be incredibly expensive, and you could do without it if possible. The good news is, of course, that you’re only moving one room of stuff.
So, if you get good at separating rubbish from the things you need, you could do away with removals altogether. The trick here is to be harsh with what you keep. The chances are you’re going to buy a load of new stuff anyway, so don’t stress about that. Then, you need to pack each box in a way which makes the most of all the space. In an ideal world, you should be able to fit everything in no more than five or so boxes.
Then, find out who among your friends has the biggest car, and see if you can get them on board. If it helps make this saving worthwhile, put the money you would have spent back into your savings account.
Now that you need to manage your money like an adult, you’ll need to get on top of your paperwork. Keeping things like bills and statements is the best chance you have of finally managing payments. You won’t be able to forget about bill dates or default on payments if you keep everything in easy reach at all times.
So, while you’re clearing out, pick up any discarded letters you find. Invest in a storage box, and put all financial documentation in it. It’s especially crucial you keep any rental documents or mortgage agreements. Then, using tips like those found at www.marthastewart.com, you can use this basis to get your files in order. Before you know, you’ll be the in control financial powerhouse that you always dreamt of. Just in time, too.