what should i be doing if i want to move out and be independent at 18? besides working and saving money are there things i should put under my name and paperwork i should have?


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PJ Stein Profile
PJ Stein answered

You can get a checking account, but you will need to have a guardian or parent on it until you are 18. It an help you establish credit later on. Also start looking at the cost of housing where you want to live. It will help you understand what you will need to make in order to move out. While looking at the cost of rent, look to see which ones include some or all of the utilities. If you can't find any with utilities, do some more research and find out what the average cost of utilities for an apartment/housing you want.

Also, assuming you are working, make sure you are a good employee. If you need a reference when applying for rent, your boss is a good one to have. You might need the as many as three references, so you will need three adults to vouch for you.  If you have friends parents that like you,  you may want to approach them about using them as a reference. Or if you have a teacher or a mentor of some kind, they could be a good reference.   

Darik Majoren Profile
Darik Majoren answered

You need to establish credit. You can either do this by getting your own credit card (we did this for our son through AAA and his credit score is incredible), with a co-signer . . . OR, if you have savings of significant amounts, you can take a loan against what you have in the bank.

For both Credit card and loan, the idea is to pay it right off ASAP . . . The more you pay it off on time, the better your credit score looks, and less likely renters are going to ask for someone to co-sign a lease when it comes time for you to be on your own.

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