Credit Help

What are some ways I can finance my first apartment?

One of the first steps in financing an apartment is saving money for the security deposit, application fee (if there is one) and the first month's rent. Although the total cost of this can vary, if you are looking to get a place, these things will be necessary steps prior to beginning the hunt for a new place. Here are some thoughts on how to get the money together to do it:

• If you are a college student who is just finishing up school, consider moving in with parents or other family members for a while until you can save up the amount you need.
• Know the range of prices in the area for apartment rentals. It will help you plan.
• Get a budget together. It will help you get into good spending habits, help you save money and get you ready for apartment living. Try to begin living as though you were already renting, saving a percentage of your income each check.
• Talking to family about a loan is another way to finance an apartment, but make sure you have enough room in your budget to pay them back.
• Working extra hours can help speed up the process of saving for the basics you need to get into a new place.

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What are some credit help basics for renters?

What if you want to get an apartment but need a little bit of credit help? Getting your credit rating in shape is possible with a little bit of effort, if you know how to go about it. Here are some things that can help you get started and keep you from making your situation worse in the meantime:

• First of all, find out exactly what is on your credit report. Order a copy and see what you are dealing with so you know what steps to take to insure that it is in the best shape possible.
• Keep from making any new marks on your score. Pay your bills on time as missed payments can really have a negative impact.
• Avoid adding to your credit card load. Take the time to catch up a bit rather than charging on the cards.
• Don't automatically cancel cards. It may actually hurt your score.
• If possible, pay down your debt as much as possible.
• If you find your credit report isn't in as good a shape as you might like, consider credit counseling. It can help you get set up with some information and format a solid debt repayment plan that works for your situation.

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Can I get some advice about credit counseling and repair agencies?

If you find something on your credit report that you don't like, you may want to consider trying to resolve it yourself or seek credit counseling through a government approved agency. If you do opt for help, know how to spot a scam and stay away from credit repair agencies that can't back up their claims. Here are some of the warning signs, highlighted for the consumers benefit by the Federal Trade Commission. Watch out for:

• Places that want you to pay up front for services.
• Places that don't inform you of the things you can do for yourself at no cost.
• Places that tell you that you shouldn't contact credit reporting agencies.
• Places that advise you to do anything that doesn't sound right or sounds illegal. You can't get a new identity, and disputing everything in the report isn't necessarily the best way to go.

If you decide to take on the task yourself, dispute anything you need to in writing and make sure to keep copies of all your correspondence. It can take some time to sift through things, but you'll be better off than if you wind up with an agency that isn't legitimate. If you try to figure things out and still wind up with issues you can't resolve, consider credit counseling. You can find a list of approved agencies on the Web site for the Department Of Justice at www.usdoj.gov.

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What some different types of second jobs out there for those looking to finance an apartment?

While getting a second job may not be everyone's answer when trying to figure out how to finance an apartment, for some people it may be just the right solution. Getting another job doesn't always mean you'll be slaving away all night at a local diner. Here are a few options to think about if you are open to the idea:

• Make money with your hobby. Are you good at painting models? Why not see if you can sell some on consignment at a local store. Are you an artist? Look for a cafe that would be willing to hang your work for a cut of the selling price. You can have fun and make money too.
• Teach something. Do you have a knack for dance? What about running a class at a local park district? Are you in marketing? Apply to teach a marketing class at an area community college. Use your skills to your advantage to make a little cash on the side.
• Is a store nearby hiring part time? Even if it isn't the most fun option, if the hours and pay are decent and it is close, it can be endured for a while. Plus, you might get discounts, depending on the place.

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