High School Finances

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High School Finances

Gideon Borean, Editor

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After 12 years of school, a whole lot of chores and restrictions, it’s safe to say that generally every student is ready for a little bit more of a liberated lifestyle. Straight out of your senior year of High School, looking for a little more freedom, what is one to do except take a step off the edge and move out of your parents shadow? It might be deemed wise to try and save money to be able to afford that place of your own before you rush out the door of your parents house. However, there a still quite a few reasons that could warrant moving out. Still, even if you have an admissible rationale behind it, one can’t put out of mind the mantra of financial advisors and parents alike on how much budgeting is going to become vital to making it on your own. So, with the satisfaction of independence on one hand and the weight of possible financial downfall on the other, how does one decide if it’s appropriate to go for it?

“I honestly didn’t consider it.” exclaimed Personal Finance/Accounting Teacher Skip Fabritius. “It was just so stupid in my mind, I mean you could either stick it out at home without having to worry about expenses all on your own or go try to find a place for yourself that you can afford and have to worry about budgeting out all sorts of things by yourself.” Mr. Fab explained how when he graduated from High school he saw that there was a way for him to make it through four years of college without any debt at all, and that he couldn’t imagine trying to purchase or rent a place for himself and still be able to make it through school debt/loan free. “I’ve always kind of had a good sense of how to like, plan ahead and be practical.” He said adding on that he believes fully that there are circumstances in which one might move out. However, when you are ‘young and invincible’ you may not necessarily be looking at the long term and how that choice can affect you.

One of the biggest things to limit a teenagers ability to move out right after High School is the limited funds they have access to. Most often, if they do move out they end up living with friends or other close relatives because even renting a place proves to be a momentous challenge. It takes longer than most teenagers have had to accrue sufficient credit to pull out loans that they may need also on average landlords are less likely to rent out to youth due to stereotypes and fear of not getting paid rent. Not to mention other cumbersome expenses that are placed on them anew to learn to handle; high insurance rates, the need to set aside extra money for emergencies, and not being able to mooch off of your parents for food anymore are just a few of these new monetary needs. The transition to paying for yourself is far too often overlooked by teens wanting to move out.

Profligacy is a vice that almost everyone falls to occasionally, but if it happens when you are already losing over half your paycheck to student loans, rent, utilities, insurance and transportation, you may not be able to afford the slip up. Anna Peterson, Senior at OHS explained how ideally she would want to be out of her parents house within the first 8-12 months out of School, but realizes how much money is really going to be a hassle. “I don’t know yet what I’m going to do, I know I’ve got to get job somewhere or close to wherever I’m going to be living but in terms of what specifically… I don’t know.” Senior, Emily Ferguson explained that her plans definitely include college—which will have her out of the house technically—but she’ll still reside at home during the off term and Holidays. “I don’t need to move out and I don’t really have the desire to either… I’ve known people who have moved out like 1 or 2 years after they graduated, but me personally I wouldn’t survive. I’m extremely irresponsible, haven’t you noticed?!” Ferguson jokes.

Most people have concluded that the basis on whether or not you decide to move out really depends on one’s current living situation. Some of the things to consider are conditions of your family relationships, living accomodation size and if there’s enough money to support  everyone. “I think there’s lots of reasons to move out, honestly. Just for me, fortunately, I have no idea what they are. My home life was always great.” Exclaimed Mr. Fab, explaining how some people may have reasons that the rest of us may not be able to necessarily comprehend or relate to.

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