Budgeting For Housing
Budgeting for your expenses is a crucial part of the apartment search process. You can’t live in an apartment you can’t afford. Take into account your other monthly obligations (credit cards, loan payments, cell phone bill) as well as what you expect to spend on food, transportation, and entertainment. You can download a budget template as a starting point by clicking here.
You’ll also want to think about:
- What furniture will you need to buy? What household items will you need?
- What neighborhoods are closest to campus? Which ones can you reasonably afford?
- Will you need to pay first, last and security deposit up front? What about a “finder’s fee”?
Stick to Your Budget
Once you establish a budget, it’s important that you stick with it. Be smart about balancing spending with savings. Once you figure out how much you can spend in a given month, make sure you don't go over budget. This will help you avoid making late payments or overdrafting your bank account.