Keeping a Ceiling on Housing Budgets

Housing and transportation are two of life's biggest budget-busters. But you can find simple ways to keep your car from taking you to the cleaners and to keep your rent or mortgage payments from eating you out of house and home. You can also save money on appliances, other big budget-busters.

Saving money on rent

Renting has several advantages over owning a home: Renting give you the freedom to move, if needed. Renting doesn't saddle you with unexpected repair bills and general upkeep expenses.
Rent in many apartment complexes also includes free use of an on-site gym, pool, and sauna, saving the cost of a membership at the local gym. Renting doesn't require yearly property taxes.

Rent of an apartment or condominium often includes the cost of some utilities, so you don't have additional cable, water, or garbage bills to pay. The included utilities are also set at a flat rate. Renting an apartment usually doesn't involve any yard or grounds main- tenance costs (unless you're renting a house).

Renting may entitle you to a discount if you don't receive something you've paid for. For example, if your air conditioner doesn't work for a week, or you have to eat out a couple of days while a defective stove is replaced, the property manager may reimburse you for some of the rent you've paid that month.

Renting requires a small upfront investment, compared to a house down payment. If you don't have enough money put together for the first and last month's rent and the usual damage deposit, check around. Some apartment complexes offer the first month free for new renters or don't require a deposit if you move in by a certain date.

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