Saving Money (i.e. Credit Help)

What are simple ways to save some money when I'm living on my own?

Once you are in an apartment, you'll want to make sure you are able to make your rent and pay your utilities each month. To do this, you may have to scale back on a few things, or come up with some money saving ideas to get your costs in line. Here are some tips for cutting back that can put a little extra money toward expenses:

• Pass on fast food. Eating out can be a major expense; even if it is just a quick bite a few times a week. Cutting out restaurant food can really tighten up the budget. Get out the pots and pans and start saving yourself some cash.
• Ride a bike. Scaling back the use of a vehicle or skipping daily train fees will add up really fast. Plus, you'll get some exercise.
• Lower the thermostat. If you are paying for heat, it can be costly. Put on a sweater instead, just like Mom always says.
  
  
• Skip the air conditioning. This may not be practical if you are on the third floor in Arizona, but if you can use the breeze to stay cool, by all means open the windows.
• Go easy on indulgences. Instead of buying a latte at the coffee shop every morning, make your own. Put the money that you would have spent ($2-$3) in a jar every day. Within a month, you'll see your savings grow!
  
• Resale shop. Instead of buying full-price items, check out resale shops, garage sales and thrift stores. You can really get some great deals. Try thrift stores, Goodwill, vintage shop and even ebay. You can find great clothing if ytou spend some time looking around.
  
  

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What are some ways I can compromise to find an apartment I can afford?

When you hear the words thrifty apartments, what comes to mind? Are you picturing a dorm room type place or something furnished in hand-me-downs? Saving money on an apartment rental doesn't mean you have to go that route, and it can actually be easy if you are open to thinking a little bit outside the box.

• If you can move to an area outside the "hot spots" of the city or town you want to live in, you might just save yourself a bundle. Giving up a bit of convenience can mean adding up the savings. Check around and see what the difference is in rent.
• Renting a room out or taking a roommate in is another way to be thrifty if you don't mind the company. Splitting the bills is a nice savings and sometimes the company can be nice as well.
• Downsizing can be a money saver too. If you can do without a lot of space, you will save yourself some cash. Ask yourself if you really need two bedrooms or a large kitchen. If you can go smaller, you'll do better.
• Pass on amenities. Sure, things like a big balcony or cozy fireplace are fantastic, but if you are looking to get something less expensive, amenities like that may have to wait a little bit until you can afford them.

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How can I save money on doing my laundry?

If you are lucky, you have an apartment with free laundry facilities or a doting mother who comes over and does your loads for you. If you are like the majority of renters however, you have to go to a laundromat or have coin operated machines at your building. Here are some money saving tips for laundry day:

• Don't do a load unless you can run a full one.
• Take advantage of free dry days or laundry specials at area laundromats. It can pay to do a little research on this and find the best deals.
• Skip drying on items you can bring home and let air dry over a radiator or on a hanger. If you have an outdoor space, hang a line and dry items there in nice weather.
• Use less stuff. Using less detergent and half a dryer sheet will add up and clothes still will be clean and smell fresh.
• Only buy supplies on sale and use coupons too. This really adds up if you keep your eyes out.
• Make sure lint traps are clean so that the dryer is running at its most efficient.
• Hand wash dry clean items using a gentle detergent.

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How can I save money for emergencies?

No matter how well you plan, things happen and expenses pop up out of the blue. Saving money for emergencies is an important part of a budget plan for apartment living. It can be difficult to set aside some funds, but you'll want to be sure you are covered and can pay your rent and bills if some unplanned event should occur. Here are some thoughts on setting aside some cash for a rainy day:

• Shop around to get a good interest rate. Interest is money in your pocket so take the time to find the bank that can do the most for you.
• Start a change jar and make deposits when it is filled.
• Include a little savings deposit out of each check. Plan it into your budget.
• You've heard it before; pay yourself first. If you automatically deduct money for savings, you won't miss it as much.
• Put any cash gifts, football pool winnings or bonus checks from work into your savings account.
• Cut back on a service you indulge in and do it yourself. Save the money and put it in your account. Think things like doing your own nails instead of getting a manicure and changing your own oil.

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