On the other hand, no more free food or free phone and certainly no more free ride. Moving into your own home might be the ultimate freedom but it's also a significant new responsibility.

Whether you're heading into university housing, shared accommodation or your own apartment, both space and budget are likely to be tight when you first move out of home. There's a whole host of things you'll need to think about, both before the big move and once you're out there on your own.

Fiona Lippey from www.simplesavings.com.au suggests keeping the following in mind:

• The Big Stuff: Don't forget the costs of a removalist. This can be anything from $500 to hire a truck and do the move yourself or up to $5000 if you bring in the professionals. To get an idea on the costs of removalists check eBay services.

  You may also have to find funds for a bond, electricity, gas and phone connections.

  Once you've set up your own digs consider contents insurance, you don't want to be left with nothing if you suffer a break in or a fire. If you're buying your own place, you should also consider insuring your home. It could cost you a bundle to replace all your clothes, CDs, appliances and personal items if your house burnt to the ground, let alone rebuilding!

• The Small Stuff: Getting hold of all the basics you need to keep a home running can take a big chunk of your savings or get you into financial hot water if you're not fully prepared.

  Here's a basic checklist of all the items you may need:

  Kitchen utensils
  Saucepans
  Crockery
  Bake ware
  Dish rack
  Fridge
  Microwave
  Washing Machine
  Bed
  Linen
  Pillow
  Wardrobe
  Lounge
  Table
  Chairs
  Computer
  TV

• “You can get a lot of kitchen items and appliances at an op shop or on eBay. eBay is a great place to buy second hand things in bulk - look for someone selling off an entire old kitchen due to renovations or interstate move.” Fiona says.

  The trick for getting bulk lots of these sorts of items? “Do a localised eBay search for your area and then view other items a seller has on offer. With patience and a little bit of luck you can stock your entire kitchen for next to nothing!”

  When it comes to furniture, Fiona “made do” when she first moved out – “My first wardrobe was a couple of boxes joined together with bulldog clips!” she says. – but, if you have the money, she suggests looking for new or “nearly new” furniture on eBay.

  “We bought our current lounge on eBay. We tried a few furniture stores but that was a real pain and the prices were quite high. So, when I got home I did a local search on eBay for a lounge nearby and got an immaculate 12 month old lounge. It was exactly what I wanted and we saved $550.” Fiona explains.

• Once your out in the world: The other big challenge when you first move out of home is managing your ongoing budget – “Working out which bills to pay when, maintaining a weekly or monthly budget and not falling into debt can seem daunting but there are tools out there that can help.” Fiona says.

  To help you with this simplesavings.com.au has a free Bill Payment System, and grocery tipsheets at www.simplesavings.com.au.

  “Combine all these tips together and you will have a fantastic time, free of debt and money stress.”

“I moved back home with mum and dad about 18 months ago because having my own place was too expensive” says Queenslander Kylie Patterson. “It was getting difficult to make ends meet, so I decided to return to my parent's home and save up as much as possible for a second go.”

In her second attempt to move out of home, Kylie turned to eBay to cut costs and make the most of her money. “I've saved over $6000 in the last six months by shopping on eBay and within a few months, I'll be ready to fly the nest again.”

“I've bought a microwave, cutlery set, coffee machine and bed linen on eBay. I've also saved plenty by purchasing everyday items on the site including CDs, books, a digital camera and a DVD recorder.”

Kylie has also begun selling her unwanted items on the site to further grow her savings pool. “I sold my mountain bike, old furniture from my parent's house and clothing on eBay. In fact, there are plenty of girls like me who buy clothes and never wear them – eBay is the best place to offload them and make some extra cash!”