{"id":234496,"date":"2025-08-25T15:00:10","date_gmt":"2025-08-25T15:00:10","guid":{"rendered":"https:\/\/evertise.net\/?p=124482"},"modified":"2025-08-25T15:00:10","modified_gmt":"2025-08-25T15:00:10","slug":"how-to-budget-as-a-first-time-renter","status":"publish","type":"post","link":"http:\/\/ipsnews.net\/business\/2025\/08\/25\/how-to-budget-as-a-first-time-renter\/","title":{"rendered":"How to Budget as a First-Time Renter"},"content":{"rendered":"<p><span id = wx_e_124482><\/span><\/p>\n<p><span data-contrast=\"auto\">Moving into a new space for the first time is exciting, but it also comes with responsibilities \u2014 especially financial ones. Some new renters don\u2019t realize how fast costs can add up between rent, utilities, groceries and other bills, and it\u2019s easy to spend more than expected.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Some first-time renters may even turn to <\/span><a href=\"https:\/\/www.onemainfinancial.com\/personal-loans\/rent-loans\"  rel=\"noopener\"><span data-contrast=\"none\">rent loans<\/span><\/a><span data-contrast=\"auto\"> to help cover move-in costs or unexpected payments. Rent loans can be a helpful fallback in a pinch, but the best way to avoid financial stress is to build a solid plan before the first rent check is due.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Keep reading to learn how a first-time renter can set up a smart budget:\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Calculate total monthly income<\/span><\/b><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Before making any plans, it\u2019s important to know exactly how much money is coming in. Income can include a regular paycheck, a side job or any other steady income. Make sure to look at what\u2019s left after taxes \u2014 not just what\u2019s earned. This \u201ctake-home pay\u201d is what a renter has to work with when planning for monthly expenses.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Add up monthly expenses<\/span><\/b><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Next, list every expense that has a monthly payment date. Some costs, like rent, are fixed, but others may be smaller or less regular, like gas or subscriptions, and it can be easy to overlook them.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Some common costs include:<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">Rent<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Utilities (electricity, water, gas)<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Internet and phone bill<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Renter\u2019s insurance<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Groceries<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Transportation (car payments, gas, bus pass, tolls, etc.)<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Subscriptions (streaming services)<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">When moving into a new apartment, there may also be one-time or startup costs like a security deposit, new furniture or stocking up on kitchen and cleaning supplies.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Choose a budgeting system<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There\u2019s no one-size-fits-all way to budget, so it helps to pick a method that works best based on lifestyle. Here are a few simple systems first-time renters can try:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li><b><span data-contrast=\"auto\">50\/30\/20 rule:<\/span><\/b><span data-contrast=\"auto\"> This method splits income into three main parts \u2014 50% for needs (like rent and groceries), 30% for wants (like entertainment or takeout) and 20% for savings or paying off debt. It\u2019s easy to follow and gives renters a general spending guide.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">The envelope system:<\/span><\/b><span data-contrast=\"auto\"> With this approach, people use envelopes to hold cash for different spending categories \u2014 like groceries, gas or fun. Once the cash runs out, they can\u2019t spend any more in that category until the next month. It helps limit overspending.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li><b><span data-contrast=\"auto\">Zero-based budget:<\/span><\/b><span data-contrast=\"auto\"> This system gives every dollar a job. At the start of the month, renters list their income and assign every dollar to a specific purpose\u2014rent, bills, savings, and so on \u2014 until the total income minus expenses equals zero. It\u2019s good for renters who like detailed planning.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Trying out different methods can help renters learn which one fits their style and keeps them on track.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Don\u2019t forget about savings<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Saving money may seem challenging when rent and bills take up most of a paycheck, but it\u2019s still important to put something aside \u2014 even if it\u2019s not much. Just $10 or $20 can make a difference down the line. Keeping savings in a separate account might make it easier to avoid spending it.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Use a budget tracking tool<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">There are many websites and smartphone apps that help people track their spending. Some of these tools connect to bank accounts and automatically sort spending into categories. Others allow users to input their own numbers.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Even using something as simple as a notebook or a spreadsheet works, as long as it\u2019s used consistently.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The goal is to know where money is going so renters can spot patterns, cut back when needed and stay in control.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Revisit and revise the budget as needed<\/span><\/b><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A budget is not something renters should just set and forget \u2014 it\u2019s smart to look at any budget periodically and adjust as needed. For example, if a renter gets a raise at work, they might be able to save more. If their rent increases, they may need to cut back. Reviewing a budget allows renters to keep it useful and realistic.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Start strong and stay steady<\/span><\/b><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Budgeting might seem like a chore, but it\u2019s really just a way to stay in control. For first-time renters, it can bring peace of mind and help avoid money troubles down the road.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">It may take time to get used to tracking money, but the effort is worth it. With a little planning, renters can enjoy greater peace of mind, as well as prepare for the future.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:0}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">SPONSORED CONTENT<\/span><\/b><span data-contrast=\"none\">\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">About OneMain Financial\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.onemainfinancial.com\/\"  rel=\"noopener\"><span data-contrast=\"none\">View Website<\/span><\/a><span data-contrast=\"none\">\u202f<\/span><span data-contrast=\"none\">\u202f<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">OneMain Financial is the leader in offering nonprime customers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-teams=\"true\"><strong><u>Media Contact Information<\/u><\/strong><br \/>\nName: Sonakshi Murze<br \/>\nEmail: <a id=\"menur4rv\" class=\"fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn\" title=\"mailto:sonakshi.murze@iquanti.com\" href=\"mailto:Sonakshi.murze@iquanti.com\"  rel=\"noreferrer noopener\" aria-label=\"Link Sonakshi.murze@iquanti.com\">Sonakshi.murze@iquanti.com<\/a><br \/>\nJob Title: Manager<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span><\/span>Moving into a new space for the first time is exciting, but it also comes with responsibilities \u2014 especially financial ones. Some new renters don\u2019t <a href=\"http:\/\/ipsnews.net\/business\/2025\/08\/25\/how-to-budget-as-a-first-time-renter\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":271,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[390,385,391,57,717,20,727,387,388],"tags":[],"class_list":["post-234496","post","type-post","status-publish","format-standard","hentry","category-dj","category-gomedia","category-internal","category-ips","category-maple-media","category-press-release","category-preview","category-si","category-vm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Budget as a First-Time Renter - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2025\/08\/25\/how-to-budget-as-a-first-time-renter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Budget as a First-Time Renter - Business\" \/>\n<meta property=\"og:description\" content=\"Moving into a new space for the first time is exciting, but it also comes with responsibilities \u2014 especially financial ones. 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