Renting your first apartment as a college student can be exciting, but before you get carried away, read US News and World Report's tips to make sure you don't make a costly mistake.
Be careful that you rent an apartment you can afford. Generally, no more than 30 percent of your monthly income should be spent on rent, but as a college student who may not have much income to speak of, focus on finding the most affordable apartment you can, as long as it is in a safe neighborhood.
Make a budget and follow it. You don't want to graduate college and immediately have to start paying off a ton of debt. Start by writing down how much you make a month and all your expenses, from rent and utilities, to groceries and entertainment. It's fine to estimate for now.
Next, track where your money is going. You can use a free budgeting app like Mint and then hook your bank accounts to it so it tracks where your money is going each month. You may be horrified to find out how much you spend at the sandwich shop.
Used textbooks, or even rented ones, can save you a ton of dough over brand new ones. Student Discounts are another way to save money. Most places have them, just ask and be sure to carry your ID with you. Also, check out free food and activities happening on campus and clip coupons to save even more cash!
While it's important to have a credit card to start building credit, they can be very dangerous. Never charge more than you can afford to pay off in a single month and never bring a credit card along for a night out with friends. Use cash to avoid being a little to generous with your plastic.
Finally, it's a great idea to start saving money. Sure, it may seem impossible when you are on a tight budget, but even $5 at a time can grow to a solid emergency fund over time.
Are you a college student on your first apartment hunt? Give San Marcos Apartment Experts a call today at 512-805-0123. Our services are absolutely free and we know the best move-in specials and up-to-the-minute vacancies at all the best addresses close to Texas State University!