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5 Apartment Money Saving Tips

Are you moving into your new apartment and trying to figure out how you’re going to afford everything? Don’t worry, we’ve got you covered with 5 Apartment Money Saving Tips!

1. Buy Convertible Furniture

If you have a small apartment, don’t clutter it with every piece of “normal” furniture that you might put in a house. You can choose furniture that has multiple uses which will save you plenty of space.

You could buy a coffee table that has storage inside to optimize your storage capacity. You could buy a sofa bed that works as both your living room seating and your nighttime bed. Or you could buy a dinner table that could double as your work desk.

Look for furniture pieces that can double as something else to save on space and reduce clutter.

2. Eat In

You have a kitchen now so use it! Eating out is usually the number one budget killer for people. If you’re able to cook from home, you could cut your eating bill in half.

You don’t have to be Chef Ramsey to make a healthy and delicious meal. There are plenty of online resources and YouTube videos that can show you how to cook a basic meal that will both taste good and be nice to your wallet.

You can easily cut your food bill by 50% by eating in instead of out. Those savings will add up quickly and your wallet will thank you.

3. Buy Renter’s Insurance

Renter’s Insurance is very affordable and a great way to protect your things. It’s much cheaper to pay the monthly premium than to replace everything in your apartment if it gets destroyed by a fire or a flood.

4. Be Energy Smart

Cut down on your utilities by using only what you need. That could be as simple as turning off lights in rooms after you leave them, taking shorter showers, turning the TV off when you’re not at home, replacing old lightbulbs with more efficient LED bulbs, setting your thermostat at a moderate temperature instead of cranking it down during the summer.

Every penny helps and the less you use, the more you save.

5. Buy Less Stuff

This is always tough but before you buy that new gadget or piece of furniture, ask yourself, “Do I really need this?” Most of the time the answer is no but you need to build the habit of asking yourself that question before you pull out your credit card.

The less stuff you have, the less money you spend. That money can then be put into savings or investments which will help you achieve some of your bigger goals.

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