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[dustinmclaughlin]

I guess this goes here...

I am looking for some advice on the best way to become independent. I just graduated high school, and I didn't make the best grades, so I'll have to apply for financial aid and what not so I can go to college. Obviously, I still live with my parents, who I don't exactly get a long with.

I really want to get on my own 2 feet and become independent. I was wondering this best way to do this. I have many concerns about what I would do about health care, car insurance, residency, etc. - all the stuff you pretty much need to become independent.

I just started work at a local grocery store and make $6.55/hour and work 18-23+ hours a week and currently have little money as I try to put it all into gas ($3.71-ish here). I am currently working on starting my computer-tech-support business, to make some more income to help my cause.

I am going to college at Jacksonville State University in Alabama which is pretty much right down the road from where I live currently. I'm not sure what I plan on majoring but I am leaning towards a major in Business and minors in either political science, information technology (definite), psychology, journalism, and socialogy.

I am also reading a lot of blogs on finance and frugality and what not. It seems to be helping me, but I need a lot more help than just reading from blogs. I need some people with experience with life.

Any advice would be very helpful so thanks!

[Patrick Rhone]

Wow. What interesting question and forum topic. I really hope what I and others contribute to this and it helps you out on the amazing journey called American Life that you are embarking on. We have all been where you are to some extent or another and, while everyone's path is different, there are some common threads we all share.

I just have some ideas to throw out there for now and may jump in with more later or as others chime in or I have had a chance to further gel my thoughts. Therefore, some of this may seem disjointed...

First things first, figure out how much money it will take to be "independent". This amount will differ in different areas and situations. This will also mean defining what "independent" means to you. Perhaps, you may not be able to afford to rent a place of your own. Maybe you will need a roommate or two to share the rent. Maybe it means renting a room instead of an apartment. Also make sure to think of all the other expenses like food, bills, etc. Get my drift? The bottom line is that what you seek is the least expensive situation you can handle. Once you have the number in mind ($500.00 a month let say), then you have a solid goal to work on.

Not sure how bad things are with the 'rents but, if the room and board and food are free, given the information at hand, staying there for now may be your best short term plan. That being said, never lose sight of the fact that this is a means to an end (using it to save the money you will need to get out on your own).

While there, do whatever you can to start saving as much money as possible and putting some aside. You will need this little "nest egg" to get started. Be creative. See if there is anyway at all you can walk or bike or take the bus some places to cut down on gas. Even certain driving hacks, like driving a bit more slowly, drafting behind trucks on the freeway, etc. can at least cut down on consumption. If you can find and handle a second job, do it. Do whatever it takes to get you money flowing in so you can put it aside and save it.

See here is the thing, you will likely need a bit of money down, first months rent and security deposit for instance, for any living situation. Plus, there are always some out of the box expenses on must suffer the first time out on their own. Groceries, sheets for the bed, etc. That is what you are saving all of this money now for. Besides saving, you are also trying to see what it takes to reach (and exceed if at all possible) that monthly amount you figured out you will need to survive.

Other tips...

* Free is your friend. Check Craigslist, Freecycle, Freemarket, etc. for people giving away used but useful stuff. I just took a peek at these places and you could furnish an entire house for free with the stuff people are giving away if you don't care about how things may look or some cleanup/repair you may have to do.

* For you Birthday, Christmas, etc. Ask for things you will need to start out in life. Dishes, towels, sheets, etc. My ex-wife did this starting at 16 years old and had all the stuff she needed for her first apartment by the time she moved out.

* Free is your friend again. With all of this working and schooling and saving, don't forget to have a life. There is a ton of entertainment out there that is free. There are tons of free public events in every area, find them. Many museums have free admission days. The point is, you can still have fun without spending money

[Rachel Murphy]

Here's my story:
From the age of about 10 I wanted to be a doctor. I was lucky - I was clever and schoolwork always came easy. Until my final year. I don't know what went wrong, boredom maybe. I just seemed to stop working. I'd always done well in exams and I think I just thought I would sail through my A levels and getting into university would be a doddle. I'm sure you can see where this is heading. I failed to get the grades...badly. I barely had the grades to do anything at university, let alone medicine.

Rather than give up and go with second best I decided to try again. I went back to school for a year and resat my A levels. I was so determined this time not to mess it up - I knew this was my only chance. For that year I was totally focused on getting into university and becoming a doctor - nothing else mattered. I worked solidly and determinedly...and flew through my exams.

My advice is this:
Focus on your goal. Imagine yourself there. You're bound to have setbacks but keep reminding yourself what it is you are working towards. With hard work you can do anything.

I would like to add, Dustin, that it is so refreshing to see a young person with such a positive attitude towards making something of his life. Keep that up and you can't fail.

Rachel

[dustinmclaughlin]

Wow, what can I say, guys? Thanks for all the advice and help. You don't know how much I appreciate it. Thanks for the free tip as well, Patrick.

To clear things up, I just want to be independent of my parents. I don't mind splitting rent and living with some friends. I actually think that would be fun.

Income plan:

Food: Roughly 200$ for food a month.
Cell phone bills: Still trying to find a good cell phone plan (free nights and weekends on calls is all I need with about 250 minutes and free calls to your own network)
Car insurance: 50$/month
Health Insurance: still trying to find a good plan
Emergency Fund: put 50$/month (in case of needed car repair, co-pays, etc.)
Gas: 120$/month
Entertainment: friends, exercise, internet
Bills: split costs at least 3 ways for cable/internet/electric/water/rent bills.

= 420$/month (food, car, emergency, gas) + health insurance + cell phone bill + rent + internet/cable.

[Jamie Phelps]

If you're looking for affordable health insurance, consider getting a job at Starbucks or Borders as they both offer full benefits for half time employment. I worked at Starbucks for a while and it was a good job. I met a lot of interesting people and learned a ton about coffee. My one caveat about them is to pay attention to if your manager or coworkers don't like you a whole lot. Mine didn't and I ended up getting fired over something stupid.

[dustinmclaughlin]

Oh, trust me on that man, I've learned that quick. My first two jobs, my managers pretty much despised me. One didn't know how to run a business and shut down one month after I quit, and another lied to me about the wage I would be making. The job I have now is awesome. I love it. Best job I've ever had, but would I like to have a better job?, sure.

[Jay Sennett]

Great question and excellent responses.

The only suggestion I can add is to resist the credit card temptation at all costs. Debt, except school loans and a mortgage, is not, nor will it ever be, your friend.

Pay cash for everything, including a beater car, if that is all you can afford. Or, maybe buy a bicycle and use that, if it is safe and fairly easy for you to do so.

Shop sales at the supermarket. Ours here occur on a two-week cycle. Chicken, beef and vegetables can be had at good prices. Resist the urge to subsist on ramen noodles. For the same price as ramen you can buy dried beans which will provide you with many more meals with much greater nutrition.

Does your local library offer free VHS/DVD checkout? How about the university library? Also check out Inter-Library Loan possibilities. Most university libraries participate in a nationwide program that allows you to obtain any book you may want to read.

Create a budget/spending plan and in it include a regular savings plan (even if it is only 1.00/week) as well as a line item for fun, whatever that means for you.

Independence is a mixture of increasing income as well as trimming expenses. I've learned these lessons the hard way and have only recently reestablished a decent credit report.

Thanks and good luck.

[Tim Glinatsis]

Great question and excellent responses.

The only suggestion I can add is to resist the credit card temptation at all costs. Debt, except school loans and a mortgage, is not, nor will it ever be, your friend.

Pay cash for everything, including a beater car, if that is all you can afford. Or, maybe buy a bicycle and use that, if it is safe and fairly easy for you to do so.

Shop sales at the supermarket. Ours here occur on a two-week cycle. Chicken, beef and vegetables can be had at good prices. Resist the urge to subsist on ramen noodles. For the same price as ramen you can buy dried beans which will provide you with many more meals with much greater nutrition.

Does your local library offer free VHS/DVD checkout? How about the university library? Also check out Inter-Library Loan possibilities. Most university libraries participate in a nationwide program that allows you to obtain any book you may want to read.

Create a budget/spending plan and in it include a regular savings plan (even if it is only 1.00/week) as well as a line item for fun, whatever that means for you.

Independence is a mixture of increasing income as well as trimming expenses. I've learned these lessons the hard way and have only recently reestablished a decent credit report.

Thanks and good luck.

This entire post should be printed out in 48px font, and glued to the eyelids of every person starting out today. It's perfect.

Well-said, Jay.