Simple Ways to Save Money While Renting

Simple Ways to Save Money While Renting

No matter where you live, rent is typically the largest part of your budget. In many countries, the average renter spends about 35 to 50 percent of their income on rent. In addition to the monthly rent, there are many more rent-related expenses, such as moving costs. The cost of renting can put a lot of financial pressure on families and hinder your long-term success.


So, if you want to improve your financial situation and focus on your goals, here are 5 simple ways to save money while renting:


  1. Negotiate

Before you sign a lease or renew your lease, take the time to talk to your landlord and try negotiating. Oftentimes if you are willing to sign a longer lease, your landlord may be willing to reduce your monthly rent. If he or she doesn’t seem receptive to lowering your monthly rent, try getting him or her to include utilities or parking in your rent.


  1. Find a roommate

The single best way to save money on rent is to live with a roommate or two. Living with roommates can often reduce your rent by over half. So, if you are single you might consider sharing an apartment. Find the right person and be sure the landlord is okay with the arrangement.


  1. Decorate your home

You don’t need thousand dollar paintings to have a beautiful home. Make your apartment feel like a home by decorating frugally. Use your skills and artistic talents to decorate your home. It will be a lot cheaper and your friends will be more impressed by your home next time they visit.


  1. Save energy

Whether your apartment is considered all-inclusive or if you have to cover some of the utilities yourself, it’s everybody’s responsibility to reduce the amount of energy they use, regardless of whether the costs are coming out of your own pocket. If you’re looking to cut back on your energy consumption, there are simple ways to reduce energy consumption and save money at the same time.


  1. Save while moving

The key to making your move less expensive and less stressful is to get organized before you move. There are many ways to trim moving costs. Some are pretty straightforward, and others are less obvious. You can get rid of the rarely used items before moving, find free boxes for packing, move during off-season and many more ways.


(Image source: Flickr)

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