Renting a home or apartment can be expensive, but it’s important to find ways to save money to ensure you’re properly preparing for your future!
Fortunately, there are several strategies available to help you save money on your rent. From cutting down on utilities to finding the right renter’s insurance plan, these tips will help you keep more money in your wallet.
1 – Get A Roommate
Getting a roommate is a great way to save money while renting! Not only will your rent be cheaper, but this would also decrease how much you pay on utilities and potentially groceries, too. You’ll want to make sure that your roommate is someone reliable that you get along with and that will not cause you more stress in the long run. Friends and loved ones are good places to start if you’re looking to find a roommate or websites such as Facebook, Craigslist, etc. are also great resources to search.
2 – Negotiate Your Rent With Your Landlord
We won’t lie to you, negotiating your rent can be a difficult task, but it can be one of the most efficient ways to save money. Start by considering the value of your apartment and researching comparable rates of similar units in your area. If you’re skilled in specific trades, you can even negotiate lower payments in return for those skills.
Use your findings to go back to your landlord and, respectfully, start your negotiations. Sometimes, this can result in your landlord covering the cost of certain utilities or even a reduction of the rent cost overall.
3 – Get Renter’s Insurance
Renter’s insurance is an important part of protecting not only your property, but also yourself. It offers coverage for your belongings and liability protection if someone gets injured in your home. Finding insurance itself is easy enough, as there are many major insurance companies that offer these policies, but be sure to shop around.
Just like with any contract you sign, you want to make sure you are getting the most bang for your buck and that you’re finding a policy that fits your needs as a renter. No matter where you rent, it’s important to get renter’s insurance to protect yourself and your property from any unexpected accidents or disasters, especially ones that could set you back financially.
4 – Join A Carpool
Carpooling is one of the easiest things you can do to save money while you rent. This will save you on quite a few things, including but not limited to: fuel costs, parking fees, vehicle damage over time, and it also is a great way to reduce your carbon footprint and get to know a friend or colleague in a new environment.
If you’re interested in starting your own carpool group, start by reaching out to friends and family that make a similar commute to you or by reaching out at your job or posting on Facebook. Public transport can also be another option if you truly can’t find anyone that would like to commute with you.
Saving money while renting doesn’t have to be a hassle. By taking the time to review your options, negotiate for a better rate, and investigate different ways of saving money, you can save create a very reasonable nest egg for yourself for a future home or in case of emergencies. Renting can be expensive, but with the right attitude and a little bit of creativity, you can make sure that you’re not overspending.
