Month: November 2021

Renting a new apartment can be so exciting. It might be a taste of independence or it might be a fresh start. No matter what your plans are, you need to make sure that you will be protected in your home. Before you sign your lease, make sure you know these four things.

Can You Afford It?

Experts say that you should not spend more than 30% of your income on rent and utilities. If you struggle to cover your expenses, you might not be able to afford this apartment. Unfortunately, you might not be able to get out of your lease before it ends. This will leave you on the hook for the money you owe, whether you can pay it or not. That’s why it pays to plan ahead and decide if you can afford it before committing.

How Can I Terminate the Lease?

While you might intend to stay in your apartment throughout the entirety of the lease, things change. You might have a major life change that will require you to leave. Before you sign your lease, you need to know how to break it. Many places will include that information in your lease, so ask for it upfront. It might be something as simple as giving your landlord notice and paying a fee, or it might get more complicated. You need to know this upfront, so make sure you ask the questions and get straight answers.

What Is Included in the Rent?

Your monthly rent might include other things, like certain utility payments. If you’re moving into a new apartment, you need to know what you’ll be required to pay for and what will be covered when you move in. Otherwise, you’ll struggle to budget or you might end up paying for things that you didn’t know you would have to.

Is There Parking?

If you have a car, it is essential that you know the parking situation at your new apartment. Some apartments have plentiful free parking while others have nothing at all. Make sure you know what you’ll get going in.

When you’re moving into a new apartment, there are so many things that you need to consider. However, before you do any of that, make sure that you’ve got answers to these questions. Not only will they help you plan for your time in the apartment, but they can also potentially help you get away from an apartment that does not work for you and your situation.

Living in a student rental does not mean you cannot save money. There are about 111 million people in the US that live in an apartment. Having a plan to save money while you live in a student rental can help you to build a nice nest egg.

Start Tracking Your Expenses

If you are like most people, you are likely spending a lot more money than you realize. Your student rental is likely to be very affordable, but you may still be having a problem making ends meet. It is not the “budgeted” expenses like rent and insurance that drain your bank account, but the everyday expenses that you are not planning that do.

Tracking your expenses is essential to saving money. Track every dime you spend for a week. Write it all down, then evaluate how much you are spending on what. Knowing where your money is going will help you to cut fat out of your budget.

Set Goals

Let’s say you find that you are spending five dollars a day on a coffee on your way to work. That is $25 a week. What else could you do with $25 a week or an extra $100 a month? Set a goal for that money. Instead of stopping to buy a coffee, consider making coffee at home in your student rental and paying yourself to save for a goal.

Buy Used

Saving money on furnishing your student rental is easy when you know where to shop. Used is a great option. Buying furniture from a thrift shop or through an online ad is an easy way to save on furnishing and décor.

Use Coupons

Everyone needs food for their student rental, but that does not mean we have to pay full price. Cut coupons, look for coupons online to find savings. Why pay the full price when you do not have to? Using coupons and looking for sales is an easy way to save on the cost of food.

You Can Save

Make savings a priority. You can find savings in a student rental if you make it a priority to look for it. You may have to make some behavior changes when it comes to spending and looking for ways to cut out unnecessary spending. Saving is possible if you follow simple steps.