5 Tech Tools That Will Help you Easily Live Independently

As back to school draws nearer for every school and university across the nation, it cannot be denied that more students are becoming aware that they will soon shoulder the burden of living on their own, and do their own daily living expenses. For some of us who have already experienced or are currently living on our own, we know that those estimates and budget lists go to the trash when the first bill arrives and reality slaps us hard in the face.

If you're planning of moving out on your own, you don't need to worry that much because there are already great tech tools out there that can help you come up with more accurate budgeting costs. So if you want living your life away from home easier, check out the list we have for you below.

1. Cost of living Calculator

The most important thing that you should know if you're planning to move out is to understand the average cost of living in the city you're moving in to. Even if you're moving from a suburb of the city you plan to move to, costs could very greatly due to market demand. So, in order for you to get a better and clearer idea of what your expenses might look like, try running your information via the cost of living calculator. This tool will help you get a general number in mind before into more personalized estimate tools.

2. Utility cost calculator

No matter who you are or where you move, utilities are an essential cost. This is why calculating costs for things like water, gas, and electricity prior to leaving the nest is an important step in identifying what your monthly spending will look like. Utility costs usually very depending on the time of the year, your intended usage, and your location. Smart energy-saving tips like moderately setting AC and heat settings and turning off the lights when you leave a room can help, but it can still be tough to control how much you will be spending.

You can use a utility cost calculator to help you calculate the average cost of electricity in your home based on the information you provide about your location, usage, and number of people in your household.

3. Insurance calculation tools

Not only as an important part of protecting your home, but renter/home insurance is also required by most rental situations and necessary to get a loan approval if you're planning to purchase a home. Although the cost of insuring your home is usually pretty low, it's still important for you to get an estimate for the service that you can figure in to your estimated living costs. And if by leaving your home means you'll also be required to pick up your auto insurance, you'll want to include the costs for that as well. Luckily, most insurance companies allow you to bundle your renter/home insurance with your car insurance plan.

To help you know how much your insurance might cost you per month, consider using an insurance calculator to determine your potential needs based on the coverage your specific situation requires.

4. Gas Buddy

Aside from those expenses mentioned, you also need to determine your overall spending in gas. Although it can be pretty difficult to predict exactly how much you'll be driving/spending on fuel, a rough estimate can help at least get an idea of the amount you will be spending on your daily commute to work and school in a new town or city. With this, use the Gas Buddy tool to assist you generate fuel cost estimates for the route you will be taking regularly. This will help you get a better visibility of how much you should add to your monthly expenses in terms of fuel.

5. Level Money App

Once you have all of your estimated monthly bills, use the Level Money app to add them up and compare them against your monthly income. From here, the app will generate a monthly budget that can guide your financial decisions for budgeting expenses for things like entertainment, leisure, and shopping.