Budgeting tips for your new apartment

If you’re looking for uptown apartments in Dallas, or any other major urban center, you’re going to have to budget for your expenses. This can be a challenge for many people, particularly if it’s a first apartment. Living at home with mom and dad is very different than living on your own. Along with the freedom of being on your own and living by your own rules, you have a whole set of responsibilities to account for. If you don’t budget your money properly each month, you’ll find yourself short on rent money, and that could eventually lead to an eviction notice. Here are some tips to make sure that doesn’t happen:

*First and Last Month: Most landlords require first and last month’s rent before you move in. Make sure that you have this saved up before you start looking for an apartment.

*Security Deposit: You will likely have to pay a security deposit along with first and last month’s rent. This will be returned to you when you move out if the landlord feels you’ve left the property in good condition and no major damage has been done.

*Moving Expenses: Depending on how much you have to move and how far you’re moving, you may want to consider renting a U-Haul truck.

*Utilities: Many apartment rentals don’t include utilities like hydro or heat. Make sure you know what extras you will have to pay each month so you can budget accordingly.

*Save from each paycheck: Once you come up with a monthly figure, calculate how much you must save from each pay. For example, if your total expenses are $1000 and you get paid every two weeks, you’ll have to save $500 from each pay to cover your living expenses.

*Budget for surprises: Try to build up a savings for unexpected expenses. You never know when your refrigerator will break down.

When you’re looking for uptown apartments in Dallas, make sure you know what your budget is so you can narrow your search.

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