Many people choose to rent as they save up money to buy a house or other big purchase. You might be saving money on a Loveland condo, but if you really want to cut costs and grow your savings account, you’ll likely have to make other sacrifices.
Saving money doesn’t have to be difficult. Even small changes can lead to serious savings. Here are ten creative ways for renters to save money while renting.
Finding a roommate is a quick way to cut your rent cost in half. Living with a roommate can be a big adjustment, but it can also lead to serious savings. Ask friends and family members to find a potential roommate before venturing to online strangers.
Take advantage of any amenities that are included in your rent. You’re already paying for them, so you might as well use them. Some rental properties have fitness facilities, which means you don’t have to pay for a gym membership. You might also have a pool, dog park, or business center, so you don’t have to pay for those services separately.
When possible, ditch your car and choose public transportation. It’s better for the environment and your wallet. The cost of a bus pass is significantly less than paying for gas, parking, and car maintenance. If possible, walk or ride your bike when running errands or exploring the neighborhood. It’s great exercise—and it’s free!
Don’t feel like you have to buy all new furniture for your rental property. Get creative with what you already have or look on used sites like Craigslist or Facebook Marketplace. Shop thrift stores and garage sales. If you have an open mind and are willing to fix things up with a coat of paint, you can score amazing deals.
Going out for meals and drinks can quickly add up. Instead, try cooking your meals at home or playing host to your friends instead of meeting at the bar. It allows for a cozier atmosphere and keeps you completely in control of the cost. Click here for more ideas on how to save on food and entertainment costs.
Look around your neighborhood to see what resources and activities are available. Check out books, magazines, and movies from the library instead of buying them yourself. Instead of paying to attend concerts or movies, take advantage of free community events, hiking trails, and recreational sports leagues.
The simple act of cutting cable and moving to online streaming services like Netflix and Hulu can save you up to $100 a month depending on your cable plan. Streaming services are constantly adding to their lineups, which means you can usually see the best shows without being locked into a cable contract. If you want to watch basic broadcast channels, invest in an antenna to get the signal on your TV at no extra cost.
Being smart about how you consume energy can significantly lower your utility bills. Switch out your lightbulbs for energy-efficient bulbs that last longer and use less energy. Unplug devices and appliances when not in use, open windows instead of turning on the air conditioner, and turn off the lights when you leave a room. Merely turning off appliances when not in use can easily cut your utility bill by 10{ec1d25302c0c3e829886c092caa623e779a888dbf9e1057900a08c9ab9a85bb1}. Click here to learn more about unplugging standby appliances.
Adopt an attitude of frugality by never paying full price unless it’s absolutely necessary. Shop sales and pay attention to deal websites. On many sites, you can even sign up to get an email roundup of sales regularly. Look for digital coupons for everyday purchases like groceries and sign up for loyalty programs for lower prices and extra perks.
There’s no need to buy things if you can make them. Get crafty by making gifts and household items instead of spending money at the store. Look for inspiration and tutorials on places like Pinterest and take advantage of materials you have lying around the house.
Little savings every day can add up and make a huge difference in your savings. Look for simple ways to save as you rent and watch your savings account grow.
Our team is here to help you find your next home. Feel free to call and schedule a showing or start your search right here.
