How Much to Save to Move Into an Apartment

how much to save to move into an apartment

When you’re ready to move into your first apartment, it’s important to save enough money. Savings should include funds for rent, utilities, furniture, moving expenses and other miscellaneous costs.

How much you need to save depends on your income and financial situation. But a general rule of thumb is to save at least 30% of your monthly net income.


There are a lot of things you need to account for when moving into an apartment. There are monthly rents, deposits, utility costs, furniture, and miscellaneous expenses like cleaning supplies and food.

The first thing you should do is figure out how much money you can afford to pay for rent each month, and what your savings goals are. Generally, it’s recommended that you spend no more than 30% of your income on housing.

Once you have this number in mind, then you can start saving for the apartment of your dreams. This is a big milestone, and it requires that you stick to your plan.

Before you move, you’ll need to save for a deposit and your initial monthly rent. It’s also important to have enough money saved for any emergency that may arise in the first few months of living in your new apartment.

As you are shopping for an apartment, make sure to note all the fees involved, as these can add up quickly. Some complexes will charge application fees, move-in cleaning, parking fees, and even renter’s insurance.

You can also ask your landlord if they offer tenant referral fees, which can help you to save money on your rent. This can be especially helpful with independent landlords, who often have a lot of room for negotiation.

Another way to save on your apartment rent is to find a place that has energy-efficient appliances. These appliances aren’t designed to consume a lot of energy, so they don’t need as many power outlets as larger ones.

Additionally, unplugging any appliances or electronics that aren’t being used can help you to save on your energy bill. These so-called “energy vampires” can be a major drain on your monthly electric bill, and they can be very expensive to replace.

Lastly, if you’re looking to reduce your apartment costs, try living with roommates. This can significantly lower your monthly rent costs.

Choosing an apartment that’s close to public transportation can also be a money-saving move. Whether you need to take public transit to work or get around the city, proximity to a bus or subway can make a big difference in your daily life.


Before you move into an apartment, you’ll need to decide how much money you can afford to set aside for utilities. The cost of these utilities varies from city to city and even region to region, so it’s best to do your research before making a decision on where to live.

Most apartments will come with a small amount of utilities like electricity, water and heating and cooling, but if these aren’t included in the rent, you’ll have to budget for them. You can get a good idea of how much these utilities will cost by talking to future neighbors or comparing the rates offered by local utility providers.

You can also talk to your landlord about whether you’ll be responsible for these expenses or not. If you are, make sure that you can afford them, as if you miss a payment, the utility company can turn off your electricity until it is paid in full.

Another thing to remember is that some apartments may require you to pay a deposit before they’ll start the utilities. This can range from $40 for water service to several hundred dollars for power service, so it’s important to plan ahead for these costs.

One way to save on your utility bills is to make changes that will cut down on your usage. You can do things like changing to energy-efficient light bulbs or lowering the thermostat to 120 degrees instead of 140. This will help keep your utility costs down, and it’s a great way to save the environment as well.

Similarly, you can try to cut down on your laundry and water use. Only do large, full loads in the washer and dryer and empty the lint trap between each load. This can save you a significant amount of money in the long run!

It’s also important to be aware of your own consumption and how you’re using your appliances. If you’re using more than you should, you’ll have to start cutting back on other expenses in order to make up for the difference.

It’s also a good idea to set up a monthly or annual budget, which will help you track your income and expenditures and stay on top of your spending habits. Once you have a clear picture of how much you’re spending, you can start putting more money away for savings or other fun things.


As exciting as it is to move into a new apartment, the cost of furnishing it can be overwhelming. It can seem like you need to spend thousands of dollars just to make the place feel like home, but luckily there are some ways to save money on furniture when moving into your first apartment.

The first step in saving for your apartment is to get a clear idea of your budget. Set a spending limit and then start looking around for furniture that fits your budget and can also be useful to you in your new living space.

One of the best places to find great furniture for your new apartment is your local thrift store. You can find couches, dining tables, TV stands, and more at low prices that are usually much cheaper than retail furniture. You can also look for furniture at garage sales and flea markets.

Another way to save money on furniture is to visit a few different stores and compare the prices of items. You can also check online for furniture outlet stores that sell quality items at a lower price.

Visiting the clearance section of chain stores can also be a good way to save on furniture. This is where they display their damaged or outdated stock, and they often offer discounts. If you do this regularly, you will be able to save quite a bit of money on furniture.

You can also take advantage of furniture returns from big-box retailers and other retailers, such as IKEA. These returns can be great deals on items that are slightly beaten up, and they often include items that would have been priced too high to sell in the first place.

When choosing furniture for your new apartment, make sure that it will last a long time. This means that you should choose pieces made from durable materials such as hardwood. This will help them last for a long time and will ensure that you don’t have to replace them too frequently.

Before you buy a piece of furniture, try it out and see how it feels in your home. This will help you determine whether or not it is worth the money you’re going to pay for it. You don’t want to end up with a couch that you dislike or a table that is too small for the space you have available in your new apartment.

Miscellaneous Expenses

Miscellaneous expenses are one of the most important things to save for when moving into a new apartment. These may include a moving truck, first and last months’ rent, security deposit payment, and packing materials.

The amount you should set aside for these expenses depends on your specific needs and budget. However, there are some general guidelines to follow.

As a rule of thumb, you should allocate at least 50% of your income to necessities like food, rent, and utilities. This allows you to meet your financial goals while also keeping a little extra for fun activities and travel.

20% of your net income should be tucked away for savings and investments. This will allow you to build up your retirement nest egg as well as help with emergencies and other big purchases down the road.

If you have an established savings account, you can easily set up a saving goal to match your budget and goals. This will keep your money working for you and make it easier to reach your saving objectives.

Another smart move is to split expenses with roommates or co-workers. This can significantly lower your costs while reducing the hassle of dealing with multiple bills.

Some apartments even offer shared amenities such as a swimming pool or fitness center. Be sure to check the terms of your lease to see if these amenities are included in the monthly fee.

You will probably also have to pay a one-time or ongoing fee to get your electricity and water service set up. These can be anything from $40 for water to several hundred for power.

The right combination of a smart budget and savvy shopping can help you save for your next home without breaking the bank. But the most important thing to remember is that you should never go into debt or overspend.

March 7, 2023 10:02 am