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How Much Money Do You Need To Move Out

by | Jun 15, 2022 | Features

When it comes to moving out, you need to have enough money to be able to make your move and also live comfortably in your new space. There is a typical rule that says you want to make sure that no more than 30% of your income should be going to the cost of housing. However, there is also another rule that states that you should never exceed 43% of your income on your housing costs as well as your debt. Obviously, these rules are just guidelines and every situation is different.

Key Takeaways:

  • Spend no more than 43% of your income of housing costs and debt payments combined.
  • Moving costs, utilities, and internet charges will add hundreds each month.
  • Getting a roommate can save money, as can learning basic lifestyle skills such as shopping and cooking.

“For most people, moving out on their own requires careful saving and planning over time.”

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