At some point in our lives, many Americans end up living on their own. Whether this is a temporary situation or a part of the plan, it is important to know how budgeting on your own can be different than budgeting for an entire household.

For those in charge of all the household’s finances for the first time, the initial step is learning how to make a budget. Without it, you could be in for a rude surprise at the end of the month when your income doesn’t cover your costs.

You are responsible for the rent, all meals, utilities, transportation, medical expenses, etc. If you fail to account for all possible expenses, your attempt to live on your own might not last very long. For more, read the full post.

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