How to Navigate a Housing Budget

January 6, 2019 | By Nat AuthorMy First Apartment

The general suggestion for rent is 30% of monthly income, but many people end up paying far more. In fact, 1 in 5 millennial parents report spending 50-59% of income on housing, according to a 2016 report from the National Endowment for Financial Education. Crazy, right? Due to rising rental rates and fewer available units,…

5 Places To Shop To Furnish Your Apartment On A Budget

May 24, 2018 | By Shea AuthorMy First Apartment

Moving into your first apartment can be stressful. From getting your deposits taken care of to crafting your to-do list, there’s a lot going on, and with so much cash flowing out of your bank account, the last thing you want to think about is how furnish your new place, but there’s good news. Budget…

How Much Rent Can I Afford on My Hourly Pay?

July 26, 2016 | By MFA Editors AuthorMy First Apartment

2017 Update: You can download our new Printable Apartment Budgeting Worksheet and use it to estimate your rent and budget for all your expenses. The basic target rent formula that landlord’s use is annual before-tax income divided by 40. When you are on a straight salary estimating the number is easy. However, if your are…

The 3 Secrets to Creating (and Sticking to) a New Apartment Budget

October 19, 2015 | By Jackie AuthorMy First Apartment

Unlike riding a bicycle, going to the mall alone, or receiving your first college acceptance, no one informs you when you’re ready to move out. Wouldn’t that be so much easier though? A major decider (besides your parent’s not so subtle hints) is when you’re are able to afford paying your own rent, utilities, groceries…

Moving Tips: 3 Things I Wish I Had Been Told Before I Moved Out

August 23, 2015 | By Tanner AuthorMy First Apartment

When I was saving up to move out of my parents’ house, the adults in my life had no shortage of advice for me: “Don’t worry about living with someone you don’t know; I had a Craigslist roommate when I was your age who ended up being in my wedding”; “Oh, just relax and enjoy…

First Apartment Budgeting Basics: How Much Rent Can You Afford on Your Salary?

May 13, 2014 | By MFA Editors AuthorMy First Apartment

The most frequent question we get is, “how much does it cost to move to an apartment?” We have covered the topic many times before, so this time we’ll start by looking at what it will cost to live in your first apartment. We estimate the cost at various salary levels, ranging from $20,000 to $50,000,…

How to Keep Track of Your Monthly Expenses

March 10, 2014 | By Christa AuthorMy First Apartment

Our fellow blogger Alex just wrote a post about all the expenses us as apartment renters should be aware of. Every expense he listed rings true, no matter what your situation is. So the question now is, how do you keep track of them all? How can you continue to pay your bills and fund your…