Money-Saving Tips for Apartment Renters —

Money-Saving Tips for Apartment Renters

When it comes to living in an apartment, there are plenty of ways to be a frugal renter. With a few tricks, you’ll be able to maximize every dollar you spend when investing in your living space. Here are a few money-saving tips for apartment renters:

1. Invest in multi-purpose. Instead of buying just any couch, invest in one that also has a pull-out bed or doubles as a futon (if you’re in a studio apartment this is an exceptionally good idea). This keeps your space looking luxurious during the day and also allows you to have space should you ever host guests. Another great example is an ottoman that doubles as storage space. Get creative with your purchases to maximize each piece you place in your home.

2. Eat in. This may seem like a no-brainer, but going out to eat is a major expense that can add up fast. Limit yourself to eating out once a week and you’ll be surprised by all of the extra money you’ll have in your pocket. Schedule “family dinners” once a week where roommates, friends or family purchase ingredients and prepare the meal. You’ll spend more quality time together and less money.

3. Be aware of your energy usage. The simple activity of turning off lights before leaving the room and keeping fans off can make a world of difference. Be sure to unplug any chargers that aren’t being used too. Even though they are not charging your electronic devices, they can still be sucking energy. Before you know it, your energy bill will be lower than ever. Not only will you save money, but you’ll be helping out the environment as well.

4. Rent or borrow things instead of buying them. Whether it’s DVDs or carpet cleaners, you should consider renting rather than buying. If it’s something you’ll use infrequently, this can save you money — and keep you from having to find ways to store these items.

5. Buy less things. More often than not, less is more. Before purchasing something, ask yourself if you really need it or if it will only contribute to clutter in your apartment. Not only will this help you save money, but it will help you create strong budgeting habits too.

Living on your own can be an expensive endeavor. But with these money-saving tips, you’ll be sure to keep more money in your wallet.