I am thinking of moving out of home, how much money should I allow to cover things like rental bond, Internet connection, furniture removal and anything else I might need to consider?

Hi Emma

Moving out of home is a big step and it is an important part of the thought process to ask the questions you have, well done.

In terms of the costs involved it really depends on where you are moving to, how far away from home you are moving and the type of lifestyle you are seeking.

From a pure basics point of view you would need to consider:

• Rent – how much rent you can comfortably afford to pay weekly and the rental bond usually equates to 4 weeks rent
• Internet – this depends on how you want to use the internet and if you’d like other services like a home phone to be connected – using a service like http://www.iselect.com.au/broadband/ may help you with understanding the potential costs
• Furniture removal – really depends on where you are moving to, how much furniture you have and how far the removalist has to travel.

Other considerations:

• Do you have a budget and savings plan – that is understanding your income and how much you can afford to spend on the bare essentials such as food, clothing and lifestyle choices
• Utilities such as gas, water, electricity
• When you move out it is important to consider how you will be getting around town so to speak – public transport costs, your own car costs including registration, maintenance and petrol etc
• The type of accommodation you are seeking, if you are moving out on your own or in shared accommodation with friends and who’s name is the lease in. This is a very important consideration as you need to understand the ramifications should you be living with others are they are not fulfilling their share of the rent and household obligations
• Insurances - important to understand the costs of the insurance of your furniture and personal goods
• How long the lease is on the property you are thinking about and what are the ramifications should you wish to break the lease.

You can see there is quite a bit to consider and I hope this information helps in your thought process

All the best

Paul