What is a good amount of money to save up before moving out of home?

Question

What is a good amount of money to save up before moving out of home?

Answer 1

You should save up an emergency fund of 6 months of your take home pay over and above the money that you will need for moving costs (first and last month's rent, security deposit, etc.).  Paying off all of your debts before you move out is a very wise ything to do also.  That way you start out fresh with no debts AND you have a great financial cushion in case of an emergency.

Answer 2

depends on what kind of debt you have. If you have a car payment. insurance, phone, etc and what rent you expect to pay. You should always save up a min of three months worth of payments for everything you pay monthly just to go in savings in case of an emergency.Then do another 3 months worth of the same to move out. Most places you rent are going to ask for first months rent plus a security deposit and application fees, plus you'll need to buy things to go in the house and turn on utilities. If you have a bank account they can set up a budget for you usually for free.  

Answer 3

Assuming you plan to move into an apartment and you have a good idea how much rent is in your area, I'd say have enough for first and last month's rent plus security deposit and another $100 for assorted utilities just to start. In addition will you be needing furniture etc? - most of this can be bought cheaply at thrift stores, yard sales etc. I hope you already have a job.