An improved economy means that more 20-somethings are finally able to afford to move out on their own, but even for millennials with steady jobs, it can still seem like a daunting prospect where they find themselves asking, “Can I afford a house payment or rent?”

Checkmate Moving and Storage of Denver, CO, can help you get started, get moved, and store valuable belongings until you’re settled. As experts in moving and storage, they recommend taking stock of your situation and following these tips to make sure your move goes as successfully as possible.

5 Moving Tips for Millennials

Decide if You Want to Rent or Buy

This decision is different for everyone and only a choice you can make based on your budget and how permanently you wish to stay wherever you’re moving. Renting is ideal for those who can’t afford property taxes or who don’t qualify for a low interest rate on a mortgage.

Keep Saving

No matter where you end up or how, your retirement savings shouldn’t suffer the consequences of your decision to move. Invest in a retirement plan or a 401(k) account. Otherwise, you might not be able to afford your home or living expenses once you reach retirement age.

Pay Off Your Debt

Credit cards and car loans can eat up most of your budget, so if you don’t have a handle on them now, you’ll likely face financial hardship once you have a house payment. Paying them off is an excellent way to make funds available for moving and storage expenses and your new rent or mortgage.

Factor in Utility Bills

Those who haven’t lived on their own can often overlook the realities of paying for electricity, water, phone, Internet, and cable. Some you can live without, but others are a necessity. Assume that utility bills and emergency expenses will equal 25% of your rent or mortgage payment.

Have a Backup Plan

Aside from a retirement plan, you should start a savings account at least one year before you move out on your own. This is a good way to judge whether or not you can save money, and it creates an emergency fund if you succeed.

Ready to move? With affordable moving and storage services, Checkmate Moving and Storage can help you with all of your moving needs. Call them at (303) 346-6683 for a free quote, or visit their website for a complete list of services for commercial, industrial, and residential moving.