5 things your parents probably didn’t tell you about moving out of home
Here are a few things they might have missed, but you'll want to know.
Sponsored by BPAY®. An easy and secure way to manage your bill payments all within the security of your online banking. Available in over 150 financial institutions and accepted by more than 60,000 businesses.
So, you're moving out for the first time? No doubt your parents have preached the importance of a budget and warned you about just how expensive it's going to be. (They're not wrong.)
But there will almost certainly be stuff they've missed, forgotten or overlooked. So, we've teamed up with BPAY to bring you a few pointers for your fledgling move.
While we don't claim to have an exhaustive list, this one's definitely worth checking out. Plus, you can brag to your parents about how practical and well-prepared you are.
Budgeting doesn't have to be a boring spreadsheet
There's no getting around it, budgeting is important – especially when you're not flush with cash. But budgeting doesn't have to mean entering every expense into an ugly spreadsheet.
Lots of banks now come with online budgeting or spend tracking tools that can give you a clear picture of where your money is going.
There are also plenty of budgeting apps that can give you tailored reports about your spending habits as well as tips on how to improve your finances.
Bills don't have to be as bad as they sound
I'm sure you've been warned about how many bills are headed your way and how annoying they are, but managing bills doesn't have to be the nightmare some people make it out to be.
While you're never going to enjoy paying them, there are ways to make bills work better for you.
If your bill has the option to pay via BPAY, you'll be able to pay directly through your online banking. Just choose which account you want to pay from, then enter the biller code, customer reference number, and amount that's on your bill.
When you put the details in, your bank will recognise the biller code and show you the name of whichever company you're paying. I love this feature because it's extra peace of mind that my money is going where I intend it to.
Plus, you can schedule payment for the most convenient time. So if a bill lands on the first of the month but you don't get paid until next week, you can schedule it for after your payday, while still ticking the job off the to-do list.*
This can be a good alternative for anyone who finds themselves forgetting about their direct debits, only to be reminded by a sudden (and sometimes unexpected) charge.
If you do decide to go the BPAY route and schedule your payments ahead of time, just make sure the bill is paid by its due date and you have enough funds in your account on the scheduled day.*
BPAY can also be a good tool for anyone who lives with housemates. If you don't want to front an entire bill then chase your housemates to pay you back, each person can use the same biller code and customer reference number to pay their portion of the bill.
You should scrub up on your tenant rights
If you're moving out into a rented property, there's a chance you'll encounter real estate agents who over-promise and landlords who underdeliver.
Learning your tenant rights is an absolute must. Yes, it's a gradual process but it's something you should make a conscious effort to do.
Check out Fair Trading or your state's Tenants' Union for specific information. They'll have heaps of guides on everything from repairs and maintenance through to landlord visits and rent reductions.
I once swerved a water bill of well over $1,000 because I checked information on the NSW Tenants' Union website. The landlord had let several water bills accumulate and tried to send a bill for them all at once. Fortunately for me, tenants don't have to pay water bills if they don't get them within 3 months of them being issued.
You'll have annoying housemates
Sorry to break it to you but if you're moving in with other people, I guarantee at least one of them is going to get on your nerves some of the time. Chances are, they'll all annoy you in little ways.
But, unlike your siblings, you can't just yell at them for being annoying. You'll have to find a more diplomatic approach or just rise above it for the sake of a harmonious house. Living with housemates requires a lot of patience (take it from someone who's done it for over a decade).
So, why do it? Honestly, it's worth it. I met my best friends through flat sharing. I can afford to live alone, but actively choose not to. For me, the benefits outweigh the negatives. Most of the time.
You'll also be an annoying housemate
But here's something even harder to swallow. It's very likely that you'll also irritate your housemates – especially if it's your first time living away from home.
It's a big learning curve. Everyone has different standards when it comes to cleanliness, noise toleration, even sharing. There are going to be things you disagree on and there will be things you do that annoy other people – it's inevitable.
The best approach here is to just build a home where people feel comfortable talking to each other about issues. Be ready to listen and prepare to compromise.