assetbest 
If you want a secure financial future—vacations, nicer furniture, your kids’ education and a comfortable retirement—start now with smart saving and budgeting. Rent.com asked 16 financial experts for their best tips for renters; here’s a clear, practical summary to help you build better money habits.
Start with a budget. Figure out what you earn, what you save, and what you can comfortably spend on housing. If you’re saving to buy a home, work out the likely monthly cost of a mortgage (including taxes, insurance and maintenance) and set aside the difference now to see if that payment would be manageable—and to build a down payment faster.
If you plan to keep renting, look for ways to lower housing costs. Talk to leasing offices at smaller buildings—asking in person about current specials can lead to discounts. Consider living outside the city center where you’ll often get more space for the same price, or choose a smaller place farther out and save on rent.
Aim to keep rent to a reasonable share of your take-home pay. A good target is under 25–30 percent; in expensive cities, roommates can help meet that goal. If you don’t have car expenses because you use public transit, you can afford a higher percentage of rent, but only after accounting for all your monthly costs.
Prioritize saving and paying down debt before deciding how much to spend on housing. Try to save or invest at least 15–20 percent of your income to build a strong long-term plan.
Automate your saving and investing. Open the right accounts for each goal—short-term savings in a bank account, retirement in a 401(k) or IRA, and long-term investing in a brokerage account—and set up automatic transfers from your checking or paycheck so saving happens without extra effort.
Watch recurring small expenses. Minor subscriptions and app fees can quietly add up to hundreds or thousands per year. Track these charges and cut what you don’t use.
Reduce rent by trading skills for savings. If you’re handy or enjoy gardening, ask your landlord whether you can handle some maintenance in exchange for lower rent, then put the monthly difference into savings.
Get renters insurance. For a small fee, it protects your belongings and gives you a place to stay if the rental becomes uninhabitable. Your landlord isn’t responsible for replacing your things.
Build a good relationship with your landlord or leasing agent. Being a reliable, polite tenant can make them more likely to approve repairs or upgrades without charge.
Use on-site amenities. If your complex includes a gym or event space, taking advantage of those perks can save money on memberships or venue rentals.
Keep an eye on utilities and regular bills. Shop around, negotiate with providers, and use loyalty or discounts when possible to lower monthly costs.
Check your credit report and score regularly. Correct any errors, watch for fraud, and consider programs that report on-time utility payments to help build credit.
Boost your income with side work or by selling items you no longer need. Short gigs—ride-sharing, pet-sitting, freelancing—or online marketplaces can provide extra cash for savings goals.
Plan and save for future moves. Keep a sinking fund for first and last month’s rent, deposits, and moving costs so you aren’t caught off guard. That money can also serve as an emergency buffer or the start of a down payment.
Start early. Whether your goal is a wedding, a car, retirement, or a home, the sooner you begin saving and budgeting, the easier it will be to reach your goals.
