Moving out of your parents' home is an exciting time in any young adult's life. It means independence and freedom, but it also means a lot of responsibility. New worries are going to creep into your life, especially when it comes to managing your money for the first time. With a little planning, you too can create a livable budget for the first time and create a basis for a lifetime of good financial decisions.
Figure out your monthly income. If you work an hourly job, multiply your average hours worked by your hourly wage. Then, multiply that number by 52 (the number of weeks in a year). Take that number and divide it by 12 to find your average monthly income. If you have a salaried job, simply divide your yearly salary by 12 to find your monthly income.
Begin to list your expected expenses. Create a category for every need: taxes, rent, food, gas, insurance, toiletries, cell phone, savings and entertainment. More categories may be needed to meet your specific needs. Have a parent or other adult look over your categories to see if you have missed anything.
Project a number for each budget category based on personal experience and advice from others. For example, rent should be your biggest expense, at 25 to 30 percent of your monthly income. If you already have a cell phone, you know how much it costs per month--same with insurance and taxes.
Place a best-guess number in categories that you do not have a set amount for prior to your big move. For example, you may have been eating food bought by your parents and not purchasing your own. Take a trip to the grocery store and shop for a week's worth of food. Now, multiply that total by four to give yourself a good estimate of a food budget for the month.
Show your budget to a friend who has already moved out of her parents' house to see if it seems in line with what she spends on each category. Make sure you are able to save some money per month and will not have to go into debt to make ends meet at the beginning of your move.