A parakeet can be a wonderful pet if you do your homework before you get one.
Parakeets are very social creatures. They need attention as well as care. They need your company. Our parakeet enjoyed flying around the room (we had a sign at the front door to remind everybody to check where the budgie was before opening it, so it wouldn't fly outside). My daughter (the owner) learned how to clip his wings, and would do it once in a while; then he couldn't fly, but he was happy to sit on her finger and talk to her.
This social business is very important. Without company and stimulation, these birds (as well as other pet birds) can become fearful, depressed, or even mentally ill. My daughter would take the cage to her room when she studied so he would have company. She even took it outdoors (in the shade, with the door closed!) in summer for short periods. We would keep our radio on when we were away from home. It was set to a classical station, and the bird sang along.
Their houses need regular cleaning, and the area around the floor will need cleaning, too (just like kids and their rooms).
They need toys. They need to keep busy (again, just like your kids). If you put a mirror in the cage the budgie will talk to its reflection. If you have another bird, you are right not to put them together, but it will enjoy seeing another bird. (When my daughter had a parakeet, we bird-sat for two other parakeets, and those birds loved talking up a storm together!)
Find a vet who takes care of birds. Parakeets can become ill. Learn what they need nutritionally. We made the mistake of thinking that ours needed a diet of primarily bird seed (that's what Big Bird ate on Sesame Street). He would have lived longer had we fed him properly, and we felt pretty bad about it.
Parakeets, cared for well, can live as long as fifteen years. Are you ready to make a fifteen-year commitment?