Save Money on Rent – Is It Possible?

One of the most difficult times that students have to confront is normally to find a place to live while studying for their tertiary education. This happens due to the shortage of hostel accommodation. Typically, the hostel management will give priority to the newcomers or freshies more than the seniors. By hook or by crook, the seniors need to find another place to live in as all rooms available will only be occupied by the new students. Furthermore, there are consequences that the seniors or you yourself need to endure especially in terms of financial matter when finding a new place to stay or renting a place. Nevertheless, no worries, friends. Actually, it is possible to save money on renting. Here are a few beneficial ways and tips that you can try on how to save money on your rent!

1. Get a few housemates

Paying the rental cost individually will only cost you a lot of money. Hence, getting a few housemates will reduce the monthly rental payment. If it is difficult for you to hunt for housemates, do create an advertisement. However, you need to be honest in your advertisement so that you will not end up getting those who are complete strangers as your housemates/roommates. Otherwise, you can ask your friends to join you because you can specifically divide the amount of rental cost equally among your friends. The more the merrier and the more rental cost can be reduced, but do also take into account on comfort and convenience factors when considering the number of housemates.

2. Become friends with seniors

It can’t be denied that every student needs some guidance and advice in getting through their student’s life and of course, the best referrers are the seniors. Therefore, do try getting to know your seniors. They can give meaningful advices and tips for you to effectively complete the assignments, quizzes and tests. With regard to saving money on rent, you can ask your senior for a comfortable and cheaper rented house nearby or you can replace your senior as the new tenant once he/she finishes his/her studies. This will definitely save you a lot of time and energy as you don’t have to look for a new place to live in strenuously.

3. Sharing things with housemates

A house is not complete without its household goods. We need these necessities in order to live in a contented life. The household goods are mostly expensive such as wardrobe, beds, kitchenware and home appliances. This can only be burdensome to you if you have to buy all these things alone. However, you can share these important things with your housemates by collecting an estimated amount of money to buy these household goods. In fact, by sharing things with your housemates will enable you to learn how to set the budget for house expenses and improve your financial skills as well.

4. Reduce the usage of home electronics

Electric bills are flexible not like monthly rent which is fixed amount of payment. Usually for the first month, you can monitor on how much you spend for the electric bills. Then, the following month you already can predict how to reduce the usage of your home electronics. You can always reduce the usage of energy-hungry appliances like the air conditioner, refrigerator, washing machine and television. For instance, you can save the electricity by unplugging these electrical appliances when you are not using them. Furthermore, paying your bills separately is more economical as you can reduce as much as you can based on your monthly electricity usage. However, you still need to consider again if you want to include the utility bills.

5. Consider to move in farther away from university/college

If the rental price is quite high or over your budget, you can search for a house farther away from your university/college/work. It all depends on the location. Indeed, location is important. If the university/college is located in a city area, obviously it will be expensive. Hence, you need to search a place no more than an hour outside of the cities in order to get a cheaper rental price. However, you can come to classes by using public transport even though it will take you 10 to 15 minutes to walk to the faculty. Applying these tips can save you a huge amount of money rather than paying for a higher price for a rented house.

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