Renting your first apartment can be a fun, exciting rite of passage for many people, but there are a few first apartment tips to keep in mind in order to avoid unexpected budgeting problems. Although the biggest expense will more than likely be rent, other expenses can also add up quickly.
When renting an apartment, it is easy to focus on the cost of rent as the only expense you must address, but the fact is that utility costs can sometimes be even more expensive than rent. Electricity, gas, oil, water, and trash pick-up are often not included in the rent payment, and must be paid by the tenant. Utility rates will vary depending on where you live and how large the apartment is, but in most cases, you can plan to spend between $50 and $100 on electricity. Natural gas or oil will also vary, depending on where you live, but may cost as much as $50 per month. Water averages around $10 to $30, while trash pick-up could be as high as $40 per month. The best first apartment tip is to budget for the higher amounts to be sure you can pay for these essential utilities
Everyone loves to have cable and Internet services, but keep in mind that these utilities can be very expensive. The average cable bill runs between $50 and $100 per month, and could be higher if it includes high-speed Internet service. One first apartment tip is to discuss your needs with the cable and Internet service provider before signing up for the service to be sure you don’t choose options you don’t need. This will help you keep your budget in line and you will only pay for the services you absolutely need.
Other first apartment tips to keep in mind are that many utilities offer service bundles to help you save money. If possible, get a roommate to share expenses, and be sure to implement as many energy conservation tips as possible in order to keep utility bills at a minimum. Look into prepaid electricity programs that allow you to deposit money in advance for added savings.
Following these first apartment tips will help you stick to your budget and avoid any surprises each month when the bills start coming in. Payless Power offers flexible payment plans through their FLEX PAY program, and offers discounts to consumers who deposit over $75 into their account. For more information, call Payless Power at 866-206-7986 or visit us online.