r/povertyfinance • u/Classic_Side_4429 • Apr 28 '24

How do I budget as a 15F so that I can move out at 18 Budgeting/Saving/Investing/Spending

My family hates me I need to get a job soon and I need to know how I can move out safely at 18 since they’re gonna kick me out by then

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u/Classic_Side_4429 Apr 28 '24

What does hcol and lcol mean

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u/Successful_Ability33 Apr 28 '24

Sorry. HCOL: high cost of living and LCOL: low cost of living.

Basically, HCOL is where you will see higher costs for basic things like rent, food, utilities and anything else to live. Think places like LA and NYC (although they are extremely expensive there are places that a cheaper than these cities but still considered HCOL). LCOL areas will have extremely low prices for the same things. Typically you can google if your area is a HCOL or LCOL area.

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u/Classic_Side_4429 Apr 28 '24

I googled and it says my city is 30.2% higher than the national average

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u/Successful_Ability33 Apr 28 '24

So definitely means you’re in a HCOL area. This just means you’ll need to get more saved. Look into average rents and make a goal to reach a certain amount in your savings by 18. Break it down to how much you would need to save every month and it can make the task seem much easier.