Plan Your Budget

Before you start your apartment search, you want to establish a realistic budget that takes into account the following factors:

• maximum monthly rent you can afford
• ballpark utility costs (gas/water/electric)
• weekly food costs
• parking and transportation expenses
• average entertainment expenses

You’ll also want to think about:

• whether or not you’ll need a furnished or unfurnished apartment
• what neighborhoods are closest to campus? Which ones can you reasonably afford?
• will you need to pay first, last and security up front?

Roommates
The more roommates you have, the lower your share of the rent. But maintaining quality of life is equally important. Think realistically about how many people you are willing to live with, then factor that number into your budget.

Stick to Your Budget
Once you establish a budget, it’s important that you stick with it. Be smart about savings. Rely on employment and/or family support to live within your financial means.

Need Help Budgeting?
360 Degrees of Financial Literacy is a free service to help you take charge of your personal finances.