Affording Your First Apartment
Getting your first apartment is one of the big milestones in a young adult’s life. It can also be a little frightening since you don’t know exactly how much money you’ll need to get by. But if you follow these easy tips, getting and thriving in your apartment will be a breeze.
Figure out how much rent you can afford
- Factor in a security deposit
- Create a budget
- Get furniture and household items
- Factor in a cable/internet subscription
- Work to reduce energy bill
Review Your Financial Situation Regularly
To stay in good physical health, most people get a medical check-up on a regular basis. To keep your finances manageable, they need a regular check-up as well. It’s particularly important to review your finances if there have been changes to your life in the past year – things like a change in income, marital status, any medical emergencies, or if you’ve had a baby.
If you have certain goals, like saving for a down payment on a house or planning to retire early, it’s absolutely essential to review your financial situation multiple times throughout the year.
