The thought of your child leaving the family home may be difficult. After all, it's your baby, right? Even though your child is leaving home, it doesn't mean they still won't need you. In fact, before they move out, it is important to go over a few important aspects of adulthood.
How to Buy or Lease a Car
First, your child needs to understand the basics of cars. Whether they will be needing one soon or down the road, many individuals will purchase a car in their lifetime. Start with tackling the bigger picture: does your child understand how expensive cars are? This question is important. If your child won't need a nice car or won't be driving a ton, perhaps a used car would be their best bet. If their job requires a reliable car, then perhaps leasing or purchasing a newer car would be better. A purchase as big as a car is one to really think about before acting upon.
If your child hasn't had a car before or drove yours in their teenage years, it's also imperative they understand the basic expenses aside from the initial purchase of a car. Between gas, insurance, inspections, and repair costs, owning a car can become quite an expense. Be sure your child is prepared for the responsibilities that come with owning and maintaining a car of their own before they move out.
How to Rent an Apartment
If your child plans on renting an apartment upon moving out, then they should also understand some basic rules for renting. If they want a nice apartment in a complex or a condo, then their credit score may make or break their ability to rent. 30% of Americans have poor or bad credit - and you don't want your child's credit to negatively affect their chances of finding a place to live. Therefore, before moving out becomes an idea, make sure your child understands the importance of credit.
When it comes to living in an apartment, your child should also be aware of the expenses that come with it. First comes rent. How much can they afford on a monthly basis? Then comes utilities and Wi-Fi. Be sure your child understands how utilities can add up if lights are always left on or if the heat or air conditioning is always running. Along with these essentials comes other necessities, such as groceries, gas, bathroom and cleaning supplies, and kitchenware. If your child plans on living with roommates, these expenses will be split. However, it's still imperative that your child knows about each and every bill they are going to have to pay every month. They surely don't want any financial surprises.
How to Manage Finances
Between an apartment, a car, gas, groceries, and other bills, your child may feel overwhelmed with taking on an abundance of expenses they were not used to handling before moving out on their own. To be sure they manage their finances successfully, teach your child how to budget. Creating a spreadsheet where every bill is laid out will allow your child to see how much each bill will cost and when they will need to pay it. It will also allow them to see how much money they can spend on fun things, too.
How to Care for a Home
When it comes to caring for a home, whether it be an apartment, condo, or a house, your child must be aware of the rules. If your child rents an apartment, they will sign a lease with their landlord to ensure they understand and follow the rules aligned with the property. Many lease violations can allow the landlord to terminate the lease if the issue is not corrected quickly, which can be anywhere from 3-30 days. Therefore, if your child's roommate decides to get a dog against the landlord's wishes, then your child will have to pay the financial consequences of getting kicked out of their apartment.
Aside from rules, be sure your child understands how important cleaning their apartment is. Not only does cleaning keep out unwanted rodents and pests, but it allows a home to look tidy and feel homey. Studies show that the most popular definitions of a happy home are non-materialistic; 69% say it's a space where you feel secure, 64% say it's a place for relaxation, and 57% say it's a space where you are free to be yourself. With these definitions, you can see that your child's mental health and overall happiness can be positively affected by a clean home.
Yes, your child moving out can seem scary at first - how will they survive without you? Keep in mind how your guidance throughout your child's upbringing will make a difference when it comes to living on their own. You'll be surprised how often your child will call you with questions about maintaining their own home. While being a worried parent is normal, you can also enjoy being part of the moving out process with peace of mind knowing your child understands each of these things before leaving home.
