A real question from r/FinancialPlanning that deserves a real answer. Not generic advice — specific steps.
I am 23 year old engineer with a salary of $70,000. I am currently living with my parents, who don’t charge rent. I have $100,000 worth of student loans which I am paying $1,300 a month (overpaying by $300 a month to speed up pay off time). I am very eager to get a place of my own. Financially speaking, about what point would it be okay to move out? About how much should i have saved in my bank account before I move out? Is there a guideline.. like having saved 10x the amount that I will pay for rent? I can not keep living with my parents until i pay off all $100k!! If you need more info to help guide me to an answer id be happy to give what info i can.
When you're financially and emotionally ready, create a budget, build up savings, and find a stable living situation that fits your needs and lifestyle. Take it step-by-step, and don't be afraid to ask for help.
It's totally understandable to feel lost when it comes to the basic life skills no one ever taught you. Even high-achieving people can struggle with the fundamentals of adulting. The root of the problem is that we're expected to magically have it all figured out the minute we turn 18 — but the reality is, there's a lot of critical stuff that just doesn't get covered in school. The good news is, there are clear, actionable steps you can take to build that solid foundation. Start by getting your core documents in order — that means your birth certificate, Social Security card, and state ID or driver's license. Having those baseline IDs will make everything else much easier. Then, set up a simple checking account and start learning about budgeting and personal finance. The Relationship and Boundary System from our Adulting Survival Guide can help you establish healthy money habits and boundaries with your family. Once you've got those practical logistics handled, the next step is to focus on your daily routines and energy management. Our Energy Audit Protocol will show you how to maintain your physical and mental wellbeing so you have the bandwidth to handle adulting tasks. And the Crisis Prevention System can equip you with the tools to navigate life's curveballs, whether it's a surprise expense or a health issue. When you take the time to build that core infrastructure, everything else gets a lot easier. Suddenly, you'll feel more confident about moving out, filing taxes, or just doing your laundry without a meltdown. You'll have the solid foundation to start exploring your passions, nurturing your relationships, and creating the life you want. It's a gradual process, but taking it one step at a time makes a world of difference.
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