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Budgeting in the New Year Living in a Rental in Northern California

Jan 1, 2020 9:30:00 AM / by Hignell Rentals Team

growing your savingsNow that the new year is upon us, a common resolution is to save money. You might be asking yourself “Is this even possible to do while renting?” Well of course you can!

Even if you are about to move into a new rental it is important to know that you can start implementing new habits to help you start saving money today while living in rentals in Northern California.

Know Your Rent

It is suggested that your rent shouldn’t be above one third of your net income. If you are living in an expensive area like San Francisco this might be a little difficult. But the cost of living in Chico or Redding is more reasonable to try to stay within one third of what you make. Another way to save money on rent is to have a roommate to help split the cost.

Know Your Monthly Budget

Many people, approximately 2/3 of American people, don’t prepare a monthly budget. Are you among that statistic? One of the best ways to improve your spending and saving habits is creating a monthly budget and consistently monitoring it. There are templates within Microsoft and downloadable templates online to help you easily create a budget. The more you monitor every penny that you spend, the more aware you will be on spending that isn’t necessary and start making decisions to cut those out and start saving!

Know Where to Buy

While living in rentals in Northern California, you thankfully have several thrift stores, flea markets, Craigslist and yard sales at your disposal. These are great places to buy furniture, frames, lamps etc. to help you save money. When you work on decorating your apartment or if you are about to move into a new apartment, remember that your perfect palace won’t be built in a day. Take the time to bargain shop, make a list of what you need before you buy, and stay patient.

Know Sales and Coupons

This takes time and pre-planning, but monitoring the sales and circulating coupons while you are planning your weekly/biweekly shopping trips can save you money. And no I am not suggesting that you start extreme couponing any time soon, especially since when you are living in a rental you know that there is a lack of space that is needed to be extreme. But using a coupon on your next Michael’s trip for crafts or even saving the few dollars on your next grocery bill will help you save money.

Know How to Cook

More than 75% of Americans eat out at least once a week. And depending on where you decide to eat and what size family you have, you can be spending thousands of dollars eating out. So skip the fast food and regular restaurant dining and start cooking at home. There are hundreds of recipes that are out there that will take less time to prepare and costs less than you hitting the drive-thru. So bust out your apron and romantic candles for the table because it is time to start cooking at home!

Know Your TV Options

Are you still paying over $100 on your monthly cable bill? With the popularity of Netflix, Hulu, Disney+, and Amazon Prime you now have affordable options to watch your favorite TV shows. Want to watch your TV show (that is on a basic network) the night that it airs? Then buy a $10 antenna from the store and start enjoying free network stations tonight. Cutting your cable bill may be difficult, but you might find yourself watching less TV and you will find yourself saving money monthly.

Know Your Goal

Saving money can be hard, especially if you see the lump of money grow in your savings account. But knowing that you have a savings for a last minute move, a family emergency, car maintenance and other last minute expenses that we might not have control over can bring you peace of mind. Keep on telling yourself that anybody can save while living in a rental in Northern California. It just takes the diligence and time to start creating new habits to help you start saving today!

For more rental living tips check out our other blogs at Hignell Rentals. If you are looking to move soon we have beautiful rentals in Northern California within different price ranges that can fit in your monthly budget. 

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Topics: Apartment Living, Rental Living

Hignell Rentals is Your Home for Northern California Rentals.

At Hignell Rentals we have been maintaining and renting properties in the North State since 1970. We value relationships and caring communities, honoring and encouraging one another, unwavering integrity, uncommon generosity, and growth and innovation. We strive to provide our residents with a quality living environment across the North State in Redding, Red Bluff, Chico, Oroville and surrounding areas.