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How to Save Money on an Apartment

Ever since I was a kid I was brought up to be frugal and to save and budget money. * Disclaimer: I am not a financial planner.

If you're looking to save money on your next rental (and who isn't?), here are some ways to make that happen:

Save up for a larger security deposit.

One of the biggest expenses on your monthly apartment budget is going to be your security deposit. This is usually equal to one or two months’ rent, and it's used by landlords as a way of ensuring that you won't damage the property in any way while living there. The deposit will generally be refunded at the end of your lease (except in some cases where damage has been done), so it's worth saving up for this upfront if you can afford it.

If possible, try saving up enough money for an extra month or two worth of security deposit so that when moving day arrives you don't have any last-minute stress about whether or not there'll be enough cash left over for whatever final costs may arise from something breaking down during those first few weeks after moving into an apartment--or worse: having all that money lost forever!

Consider negotiation.

  • If you’re looking for a place to live, start with the local classifieds and contact the landlord directly. You can also visit apartment search sites like ApartmentList or RentCafé.
  • Before making an appointment, set some ground rules about what you want: How much are you willing to pay? What kind of room do you want (studio or one bedroom)? Are there any amenities that matter more than others?
  • Be prepared with a list of questions that specifically address your needs. You might be able to negotiate better if the landlord knows exactly what features are important to you before meeting face-to-face—and this will give him or her an opportunity to show off the property at its best! Consider asking about how often maintenance is done on appliances and floors so that those costs fall within your budget when deciding what size apartment is affordable for now.
  • Negotiating isn't always easy—it can take time and practice before getting results worth bragging about (or even just saving money). Do research on how other people have negotiated successfully in similar situations; there are plenty of tips available online as well as through friends who've had success already!

Ask about additional fees.

> Ask about additional fees.

> You'll want to ask your potential landlord or real estate agent about additional fees before you commit to renting an apartment. Some landlords charge a fee for pets, while others don't allow pets at all. Others may charge a fee for utilities (electricity, trash collection, water). If you're renting with roommates and splitting the cost of rent and utilities evenly among everyone in the unit, then these extra costs won't affect you as much as they would if you were paying all of them out of pocket.

Research your commute to the office.

  • Use Google Maps to plan your commute. Google Maps is an excellent tool for planning a commute, especially if you're not familiar with the roads in your area. It can help you determine which route will be the most direct and fastest for getting to work.
  • Consider public transportation. If a longer drive isn't ideal for you, consider using public transportation instead of driving yourself to work. This option is particularly helpful if there are offices that are only accessible by bus or train anyway—it can save both time and money!
  • Check gas prices daily. When it comes to filling up your car, gas prices change daily depending on where they're at when you go fill up (and whether or not there's any sort of sale going on). Make sure that when it comes time for an oil change or other routine maintenance needs like this one day after another so that they don't end up costing more than planned due solely because their price increased during those days between visits! It might seem minor but over time this could add up quickly if done consistently over months/years etcetera so keep track carefully!

Cut costs on utilities by adjusting thermostats and lights.

  • Turn off lights. People are often surprised to learn how much electricity they use when they leave the lights on in their apartment or home.
  • Turn down thermostat settings in summer and heat up in winter. As mentioned above, if you turn your thermostat down at least two degrees for each degree Fahrenheit increase outside, you can save about 5 percent annually on heating costs—and 10 percent on cooling costs.
  • Use fans instead of air conditioners to cool off during hot months (and vice versa during cold months). One of the easiest ways to save money is by using a fan rather than an air conditioner or dehumidifier during hot summer months when temperatures rise above 80 degrees F (around 26 C). This can reduce utility bills by up to 50%. Fans also help cool people down faster than other methods such as opening windows or waiting for a breeze would do it; however, make sure you're setting up your fan properly so that it actually helps circulate the air throughout your home/apartment instead of just blowing directly at one person! You'll feel cooler faster too if you stay hydrated!
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There are a lot of ways to cut costs in an apartment, but saving up for a higher security deposit is a great place to start.

The security deposit is the amount of money you pay to the landlord to ensure that you will not damage the property. It's one of the biggest expenses you'll encounter when renting an apartment and can be a good way to save money. The amount of your security deposit will depend on how big your apartment is, but it's usually refunded after you move out.


When you find a great deal on an apartment, it’s easy to get caught up in the excitement. But don't forget that there are many other ways to save money on your living expenses. If you’re worried about finding affordable housing in New York City or any other major city, stay informed and think strategically about how much money you can put toward rent each month—and what kind of investment might pay off in the long run!


This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

© 2022 Shanon Sandquist

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