How to Live on a Minimum Budget in an Apartment

How to Live on a Minimum Budget in an Apartment

Living on a minimum wage is not fun at all for most people, but it is a necessity for many. Although most people think it is impossible to live like that, it is possible in fact. Whether you are forced to live on a minimum budget or you want to save some money, you will find out that you actually can live on $1000 a month. Especially if you can find a cheap apartment in Peoria IL, you will be able to do it.

The first step is to find an apartment within biking or walking distance from your job and that costs less than half of your salary, which in this case will be less than $500. That can mean renting a room or having roommates. If you can’t find a living possibility within walking or biking distance, you could think about finding a job in a neighborhood where rents are cheaper. Being able to get to your job for free will get you financial stability. You will also save yourself from a lot of trouble with car breakdown, repairing, being late from work and, of course, taxi expenses when you can’t go by car to work. Climate can make a significant difference because cold weather can increase heating costs in your apartment and can make getting to work harder. That is why you could consider moving to a warmer climate. That can be easily done if you don’t have too many possessions.

Don’t spend more than $200 on household necessities. That can be done if you cook about everything yourself and you don’t buy pre-cooked food at all. If the store is far and you can’t go there by foot, bike or with public transportation, then go shopping only once a month, try to borrow a car and be sure you buy everything you need for the next month. You might find it useful to write a checklist so that you don’t leave out anything.

Spoil yourself with some entertainment and dedicate $100 for that in a month. But don’t think you must spend that money. It is better not to spend it than spending too much and going into debt. Choose some free entertaining instead, like libraries that offer free books, internet access and music. Find some recreational activities and parks that don’t cost. Don’t go to bars because bar drinks are expensive and you can take bad decisions when you had a drink. If you want to have a drink with your friends, consider doing that at home instead. You could also get a pre-paid cellular phone instead of a cell plan, and rethink if you really need cable.  You can save up to $50 with these two simple steps.

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