DEAR HARRIETTE: I want to move out of my parents’ home, but I don't know how to even begin to plan for such a drastic change. I know some people manage to reestablish themselves quickly, but I am at a total loss. I just started working, so I am making a low salary, but I do have a job. My parents offered to let me stay here while I get on my feet. How long should I stay? How much should I save? What should I research? Should I learn to drive before considering this larger leap? Any tips and advice will be appreciated! -- Leaving Home
DEAR LEAVING HOME: Start by figuring out where you would like to live. Research what it costs to rent an apartment in that area. Figure out if you will need a roommate, or if you can afford to pay rent with the income that you currently make. Many young people start off with roommates in order to defray costs.
As far as driving goes, it depends on the area where you will live and work. If you need to drive in order to get around, by all means get as prepared as possible. Get a license and a car, if you can.
In terms of savings, ideally you should save up at least six months’ worth of your anticipated living expenses. That would include rent, food, utilities, gas, car payment, etc. If you can start out in that way, you will have a nice financial cushion to support your leap into independence.