You’ve just picked up the keys to your new rental and it’s all starting to sink in - you’re finally free from your Mum’s 7am vacuuming rampage and free from arguing over the correct way to stack a dishwasher. 

But with each big move comes some big moving out expenses that may not be accounted for. So we’ve got a checklist you can mentally follow as you navigate the next stage of moving out of home.

The Move

Time to call in a favour with your friend who owns a van! If you can DIY the move, you’ll save some extra bucks.. But if not, the cost of hiring removalists is about $130-$160/hour on a weekday or $140-$200/hour on a weekend.

This means if you have a lot of stuff, or you have a lot of stops.. or you’ve decided to move as far away from your parents as possible, you’ll have to pay more for the move. Maybe reconsider getting your removalists from picking up a dining table from a FB Marketplace person from an hour away?! That’s exxy. 

Turning Your House Into a Home‍

Unless your property comes furnished or you’re lucky enough to inherit some hand-me-downs, you’ll likely need to invest in some furniture pieces. Depending on your priorities, this cost can really start to add up, but if you purchase the right items they can follow you to your next home too! 

For a low to medium starting budget, here’s an approximate breakdown of how much you might spend furnishing each room in your new place:

• Bedroom: $200 - $1,150
• Lounge: $300 - $2,500
• Dining room: $150 - $1,800
• Kitchen: $400 - $3,500
• Laundry appliances: $400 - $2,500‍

💡 Money tip: Try Facebook marketplace or Opshops for great deals on higher quality and uniquely designed furniture pieces! You may also want to try your luck asking for ‘a better price’ at furniture stores. In these tough economic times, retailers are willing to haggle to get the deal done. 

Managing Your Finances - so you never need to move home‍

💸 Emergency Fund: An emergency fund is like a financial safety net that can help get you through unexpected situations. Living out of home means you’re financially independent and that means you need to be prepared for whatever might happen! Generally, it’s a good idea to have about 3-6 months of your take home pay stashed away for emergencies. 

💸 Managing Debt: Do you know the difference between good debt and bad debt? Well now’s the perfect time to learn! When you’re planning to make big purchases it’s easy to fall into the trap of putting it on credit (e.g. ‘buy now pay later’), but if you can’t repay your loan in time, you might rack up heaps of interest expense! (Yikes) 

💸 Creating a Budget: Living out of home can feel like a financial reality slap. Creating a budget and tracking your expenses can help you stay on track with your goals, and ensure you always have enough money to cover your new bills. Here’s our guide on how to make a budget that slaps. 

Flux has a free budgeting tool that can help track all your expenses as you’re moving out of home. Now that you’re becoming financially independent for the first time, it’s even more important that you practice good financial hygiene so you can always be across your spending!

Congrats - the hard part is officially over! Now all you have to do is settle in and plan an awesome house-warming party.