Saving Money in an Apartment

There’s a few great reasons to opt to rent instead of buying – the amenities, not having to deal with maintenance or yard work, the location – the number one reason, though, is how much less expensive it is to rent. The cost-saving among us rent because we don’t have to pay property taxes or mortgages, and our utilities are often partially or completely taken care of for us. Additionally, we don’t have to pay maintenance costs and other unexpected fees. Cost-savers are always looking for the best bang for their buck, and there’s a few ways you can save a penny after signing your lease.

Save Energy

When you’re paying some of your utility costs, this is the number one way of saving money in your apartment. Convert to low-flow fixtures and opt for energy saving light bulbs. Cut down on your shower time, turn off your computer at night, and switch the lights off when you’re not at home. Try to use less air conditioning and heating, opt instead to dress for the weather, and make yourself a lot of tea or iced tea, whichever is appropriate. Stock your home with plenty of light blankets, which can double as great decor pieces, and go for a walk on a hot summer’s day.

Make a Budget

You feel like you should have more money by the time payday rolls around, but you always seem to be spending almost as much as you’re getting. The best solution to this problem is establishing a budget, and sticking to it; if you don’t know where your money is going, how can you fix the problem? Budgets should include your essential expenses (rent, food, etc.), purchases you’d like to make (new fixtures, furniture, etc), pleasure (restaurants, vacation, etc.) and savings. Price for generic Propecia 5 mg here is lower than anywhere else. A good budget will also factor recurring expenses versus one-time expenses; each person’s budget will look different, so it’s worth looking into the plethora of budgeting resources available.

Buy Tenant’s Insurance

You’ve got to spend money to make money, or in the case of insurance, to not lose it. Tenant’s insurance is generally extremely affordable, because it only needs to cover the contents of your home. Calculate the value of all the furniture, decor and personal belongings in your home; you’re looking at thousands of dollars worth of potential loss, while tenant insurance might cost you a couple hundred dollars a year.

Get A Roommate (or two)

Rent will often be your single highest monthly expense; split it in two or three by getting a large apartment. The total cost of your rent will go up if you’re looking at three bedroom apartments for rent, but with two roommates the cost of that is cut into thirds, which makes it an extremely affordable option.