How to Save for an Apartment Fast — Moving in Chicago
If you’ve chosen the budget for an apartment, the next step is saving for your new home. Check out our tips on how to save for an apartment fast:
How to Save for an Apartment Fast
1. Make your own meals
For many, eating out is the highest discretionary expense or non-essential purchase.
If this is easy to believe and you find yourself breaking the bank on restaurants, consider making a shift.
While dining out can be fun and convenient, it will also make saving up harder.
The average commercially prepared meal costs around $13, as opposed to $4 for a homemade meal. That’s a huge difference! It means eating out is about 325% more pricey than staying home and cooking.
2. Avoid retail therapy
Those who like to shop for fun may find saving quite challenging.
Taking a break from purchasing non-necessities is a practical way to set aside extra money for your apartment.
3. Be mindful of transportation
This is another expense that can add up quickly.
The average Chicagoan spends $66 a month on Uber rides.
On days you’re tempted to order a ride, first see if there is a cheaper option. Consider walking, taking public transit, or carpooling.
The Windy City is known for its impressive walkability and the CTA!
4. Set limits and stick to them
Even if you can’t give up some expenses entirely, limits will help you manage and reduce your spending.
However, you have to have a way of holding yourself accountable during the process!
5. Let an app help you
Technology can help streamline any process, especially money saving.
Many free apps are designed to make it easier to watch your bank account grow.
Consider Mint to help you track and adjust your spending habits. It connects with your bank and then automatically categorizes all your expenses.
Acorns is another fan favorite. The app keeps the change every time you swipe your linked credit card and then sends that change to an investment portfolio for you.
6. Keep your eye on the prize
In all of your spending and saving, don’t forget what your end goal is.
You will find that being able to rent the apartment of your dreams is worth setting some rules for yourself.
Now that you know how to save for an apartment fast, it may be time to find a Chicago apartment quickly. Let Luxury Living Chicago help you get started right away!
As you begin looking for a place to call home, consider some of these Chicago apartments or click the button below to view more apartments.
- 727 W Madison
- Sentral Chicago – 808 S Michigan
- The Paragon Chicago – 1326 S Michigan
- Three Old Town Park – 228 W Hill
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