A Positively Moving Experience
First Apartment Cash Saving Tips
Moving into your number one apartment is a major life step which can be carried out according to your personal tastes and wishes. Finally, you can decorate how you want, not worry about waking up or bothering family or housemates when you get home in the middle of the night and want to root around the back of the fridge, and you can finally exercise the freedom and independence you’ve been craving for so long. It can be a hard test of financial independence and management however, which is why the apartment experts at Noah’s Ark have prepared this brief blog entry on how to save money and budget when you’re moving to your first apartment.
Determine and Maintain your Budget
When finding your first apartment, you might be drawn to a place that you’re aware is just slightly outside of your reasonable budget point. While this isn’t necessary a disastrous approach, just be aware that it will come with some sacrifice, and that you’re going to have to budget the cash discrepancy out of some other area of your life. Make sure to be choosy and careful, and only sign onto a lease or rental agreement that you’re fully sure that you can afford on your own.
Budget all Aspects
Make sure to budget all aspects of your life besides your rent. We recommend adhering to the 50-30-20 rule – half of your income should be set for fixed monthly charges like utilities, rent, groceries, and automotive payments. 30 percent of your budget should be saved or invested, and 20 percent should be saved for leisure activities like restaurants, partying, concerts, or other recreational activities.
Be creative with decoration!
Don’t spend all your money on brand new furniture! Instead, look at local yard sales, thrift stores, or even the free section of Craigslist to find cheap furniture. Write out a checklist of the essential furniture you need and check items off as you go to ensure that you’re only purchasing the important pieces. We recommend a minimal decorative approach.
Food Savings
Don’t eat out at restaurants every day. We recommend investing in a pressure cooker, spices, and dried goods like beans. You can prepare a whole bunch of a nutritious and filling recipe like Chili ahead of the week, and freeze lots of it, setting it aside to be reheated throughout the week for a quick meal.
Extra Hustling
Find ways to make extra money by working side gigs, freelance opportunities, or even a weekend job. Save that extra money for a while, and soon you’ll be find that you’re sitting on quite a bit of savings that can tide you over vacation or work free periods.
