Internet and Cable : The average monthly internet bill is around $45. ![]() However, if it's not covered, you need to add $30 to $80 to your utility budget. Gas and Heating : Natural gas is a utility typically covered by rent. Water : If your landlord doesn't cover water bills in your rent, you have to account for an additional $40 to $100 in your utility budget. Each bill can range from $100 to $150 in different cities. Average rent can range from anywhere between $1,400 to $2,800 for a one-bedroom apartment depending on the city and state.Įlectricity : Unless your rent covers utilities, you must account for electricity bills in your budget. ![]() Rent : Rent will take up a significant chunk of your budget for an apartment. Hiring professional movers can cost you anywhere between $500-$3000 depending on the distance and the amount of stuff you're moving. Moving: It's a one-time expense but an important one. Here's a list of the components you must account for budgeting an apartment. Saving up for your apartment could mean accounting for multiple components. Things like eating out, vacation, cable TV, and recreational activities come under this category.Ģ0%: Savings : 20% of your net income should be allocated towards savings and investments like stocks or mutual funds.įinding a suitable apartment may be challenging, but it's even harder to account for living expenses. ![]() The best way to save up for your needs is by downsizing your lifestyle.ģ0%: Wants : This include all the money spent on things that aren't essential. 50%: Needs : This includes all things necessary for survival and the bills you must pay: rent, utilities, insurance, health care, and groceries are in this category.
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