When you've made the decision to move out and look for an apartment,
it will quickly become clear that you should be prepared to save up a good
amount of money for all of the expenses that come with renting an apartment.
While these costs and expenses will likely vary, depending on where you live and
where you plan on renting, it's always a good idea to start saving for your
apartment as early as you can.
We've already covered the
different
expenses that you'll face when renting an apartment and the different ways
you can budget for these expenses, but you'll also need to know how to save
money for your apartment and the best methods for making sure you have enough
money for rent, security deposits, furnishings, utilities and everything else
that comes along with renting your apartment.
There are many different
ways to save money and you can easily tailor your savings plan to fit your
lifestyle and your budget. From setting up a savings account for your apartment
to just being thrifty and keeping track of your day-to-day spending habits,
there really isn't a wrong way to go about saving money for your apartment.
However, there are a few methods that will make your life a little easier when
it comes time to save.
Watch your spending
One of the most important ways to save money
for your apartment doesn't necessarily deal with directly putting money aside,
but rather deals with how you spend your money and what you spend it on. Saving
money can be as simple as cutting back on the amount of money you typically
spend on a weekly basis and carefully monitoring what you buy. If you closely
track your spending habits for a few weeks, you'll quickly pick up on which
things you need to spend money on and which things you simply
don't.
Cutting out the frivolous purchases will help you save money a lot
more quickly than you realize and before you know it you'll be piling up a
decent amount of money for your apartment. A good way to start is to track your
spending habits for one week and write down the total amount of money that you
spent during the week on everything from groceries, clothes, gas and luxury
items to food and entertainment. At the end of the week, survey the purchases
you made and the amount of money you spent and come up with a lower number to
aim for next week. For example, if you spent $300, aim to cut that in half to
$150 for the next week, or even $200 if you want to start smaller.
While
it might be difficult at first, you'll quickly realize that cutting your weekly
budget by even $100 will greatly increase the amount of money you're able to
save and you'll be ready to rent that apartment in no time.
Set up a savings account for your apartment
Another great way to
save money for your apartment is by opening up a savings account that will be
kept separate from your other accounts and used only to deposit money for the
apartment. Even if you already have a savings account, open up a second one just
for the apartment expenses so that you know you won't touch the money until you
need it. Contributing as little as $20-25 a week to the account can add up
pretty quickly, and before you know it you'll have a decent-sized savings that
you can tap into when the time comes to put down your deposit on an apartment
and start buying furniture and other necessities when you move out.
Don't
be afraid to shop around to different banks and see which ones offer the best
interest rates on their savings accounts. The more money you can accumulate from
interest while you save, the better. Another easy way to save money is to take
all of the change that you accumulate on a daily basis and put it in a jar or
shoebox somewhere safe. Those pesky handfuls of dimes, nickels and pennies that
you get from your morning coffee can be put to good use instead of clogging up
the change tray in your car or stuck underneath your sofa cushions. Those coins
pile up quickly and the amount of money you're able to save just from change
alone will surprise you.
Sales and bargain aisles are your friend
Some of the purchases you make on a week-to-week basis are necessary
and there just aren't any ways around it. For example, you're going to need to
eat and you'll need to buy groceries and other everyday living needs. But what
you don't need are expensive things. You might not realize it, but you can save
a lot of money by simply switching to generic and store-brand items the next
time you go grocery shopping, or if you head to the bargain rack and keep your
eyes peeled for sales the next time you go shopping for shoes or
clothes.
Getting used to being reasonably thrifty with your purchases can
help you save a lot of money not only at the cash register, but down the road as
well, as long as you stick to the game plan. Many of the generic and store-brand
items you'll find in supermarkets are comparable to the name-brand items, and
some of them are even the exact same product, just in different packaging. Most
of the time, you'll find that you don't even notice the difference, except for
where it counts - in your wallet.