How to Budget for Rent: A Guide to Renting on a Budget
Are you looking for a guide on how to budget for rent, or tips for renting on a budget? You’ve come to the right place!
A guide on renting on a budget
Finding the right apartment to rent can be a challenge. But, if you do enough research and plan ahead, it can be a great starting point for your journey toward saving money.
Finding your apartment
An important part of renting on a budget is finding an apartment you like — but that won’t require more than 30% of your income, thereby leaving you rent-burdened.
Depending on your current situation, location may matter more or less to you.
Moving into your apartment
Once you’ve found the perfect apartment to fit your budget and lifestyle, it’s time to review the costs associated with moving in.
Living in the apartment
After you’ve moved in, hopefully your housing expenses (rent plus utilities) won’t exceed the 50% threshold.
If you manage to keep these expenses under control and fit it all into your 50/30/20 budget, then you will have reached an optimal point on your journey to renting on a budget.