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Question by Peppe: How much money should I have saved before I move out?
I am desperate to move out as soon as possible. I’m currently broke, carless and I still live with my parents. I have a stable job and I plan to work more and save more.
The questions is: What is the minimum amount of money I should save up to support myself to live on my own with a start rent payment of maybe $ 1k-2k per month in Los Angeles???
Please any honest and hepful advice- thank you!!
Answer by Mike
It does not matter how much money you save.
What you should be concerned about is cash flow.
Since you will have ongoing needs like food, rent, gas, insurance, etc you will need a steady stream of money to meet those needs.
You must generate regular income to move out.
That is a better plan than what you are thinking right now.
Know better? Leave your own answer in the comments!