How Incoming College Freshmen Should Budget for Housing

college freshman budget

If you ask graduating students, they will tell you that they remember college as the most beautiful period, full of knowledge, friendships, and things to discover. But being a freshman is not all roses and sunshine. Of course, the university allows you to study what really interests you, organize your study day as you see fit, and to make new friends and participate in all the university nights you want, especially if you are away from home and live with others. Students who, like you, want to have fun. However, it is also true that greater obligations also derive from greater freedom.

The university prepares you for the world of work, and what you learn will allow you to build a future. Here are 5 things to better budget the first year:

If you decide to rent a room, the first month will be particularly painful on your wallet because you can expect the following expenses:

1. The rent for the first month

2. Deposit to the property owner (secures the costs of possible damage and losses caused by you, if you do not spoil anything, you get a deposit back at the end of the lease) – usually in the amount of 1 month rent.

3. Commission for a broker – if you employ an agent or broker agency. If you have to cut costs, be sure to only search for announcements published by property owners, otherwise, the broker will charge a commission, often in the amount of one rent.

4. Costs of furnishing the apartment – you may be able to take all the necessary things from home. Mirrors, mugs, glasses, frying pan, blankets, are not common in every apartment. Initial shopping of necessary things in Ikea, discounted stores, or even on a flea market, costs can range from hundreds to thousands of dollars.

5. Miscellaneous and cleaning products – when moving, it is difficult to bring remember all of the products one might need, or even paper towels. When renting a room, it’s best to organize a housekeeping with roommates; in the apartment you have to take care of it yourself.