Help, I'm Moving Away from Home!
Whether it's approaching soon or still a few years away, it's useful to know what it involves.
Adult life awaits
When you move away from home for the first time, you will probably have to make several important choices! Perhaps you are starting university, joining the military, starting work, or attending folk high school? Whichever path you take, it is important to remember that you are now responsible for your own finances. This means you must keep track of expenses such as rent, food and transport. You should also plan carefully so that you can handle everything that your new life has to offer.
Have you turned, or are you about to turn, 18?
Reaching the age of majority marks the start of adult life. It brings changes, including more freedom and responsibility. When you turn 18, you become responsible for paying your own bills, you can apply for loans and order a credit card. You also gain the right to vote, the opportunity to get your driving licence and are old enough to buy alcohol.
Remember also that you are now financially responsible, so it is important to keep track of everything from your tax return to access to your own fund accounts.
DNB Ung (Young Adults)
Have you turned 18? Yay! That means you can sign up for DNB Ung (Young Adults) – our dedicated customer programme for those aged between 18 and 28. Here you get our best home loan rate, discounts on festivals, train journeys and at selected shops.
You also get your very own bank card (with no annual fee!), a brilliant mobile banking app and access to an advisory team that answers all your questions.
It really pays to be young at DNB!
Now you can get your driving licence
Get ready for exciting driving experiences, but remember that you must complete training and pass your driving test before you can cruise around with your friends.
You can get a loan and credit card
Welcome to the adult world, where loans and credit cards await. Learn to manage your finances smartly, so you won't have to worry later.
Now you are responsible for your own insurance
When you turn 18, not all the insurance policies your parents have may still apply. What insurance do you need as a young adult?
Checklist
Here are some practical things that can be useful to remember when you need to move out:
- Register your change of address with the National Population Register at skatteetaten.no.
- If you need a student loan, apply for this from Lånekassen.
- Order contents insurance for your new home.
- Set up internet in your new home as soon as possible.
- Enter your new address in all digital services where it is registered.
- Are you renting a property? Document any deficiencies, weaknesses, shortcomings, omissions and include them in the contract
Insurance you should have when you move out on your own
When you move out on your own for the first time, insurance may not be the first thing you want to spend your money on... But it is actually very wise to be insured!
Home contents and travel insurance
The two most important types of insurance you should have are travel and contents insurance. These are always wise to have when you no longer live at home and are potentially covered by your parents' insurance policies.
Travel insurance gives you peace of mind both at home and when travelling. It covers theft, illness, accidents, cancellations, delays and damage to your belongings. Whilst contents insurance protects your belongings against theft, fire and water damage. Would you like both home contents and travel insurance? We have a package that covers both.
Five tips for first-time renters
- If you are going to be a student, you should start your accommodation search early, preferably a few months before your studies begin
- Consider whether you want to live alone or share with others
- Make a list of what you need for your accommodation (kitchen, living room and bedroom)
- Establish good routines for cleaning, grocery shopping and other practical tasks
- It is wise to have a cohabitation agreement if you are going to live together with someone
Saving for graduation celebrations, a trip or your own home?
What do you dream about? Perhaps it is a nice holiday, graduation celebrations, a driving licence or your own flat? Whatever your goal is, it may be wise to get started. To begin saving, you should first set clear goals. Think carefully about what you want to save for, as this will help you determine how much you need to save each month.
In addition to setting aside money for savings, it may be wise to create a budget that gives you an overview of your income, whether it comes from part-time jobs, birthday money or something else. By prioritising saving first, and then spending what is left, you can more easily stick to your savings plan!
Saving tip 1
Create a budget to keep control of your money. Decide how much you can spend on things like food, shopping and fixed expenses
Create budgetSaving tip 2
Always pay your bills on time to avoid reminder fees. Use e-invoice or AvtaleGiro
Read about AvtaleGiroSaving tip 3
Limit your electricity and mobile usage. Check if you can save money by switching provider
Saving tip 4
Buy second-hand! Marketplace on Facebook, Finn.no or Tise have loads of great items
Saving tip 5
Wait for sales, buy Christmas and birthday presents when there are good offers in the shops
Saving tip 6
Check the price tag before you shop. Make packed lunches instead of buying lunch, fill up your water bottle instead of buying drinks