Summer break may still be a couple months away, but it’s time to start thinking about where you will be living next semester. Many students will need to find an off-campus apartment for the summer or fall semester.

When thinking about off- campus housing options, it’s important to put together a budget to determine what you can afford and how you spend your money. This may be the first time you’ve lived on your own and it’s important that you consider the expenses you will incur.
These expenses include:

Moving costs–Make minor repairs and clean well prior to moving so that you receive your full security deposit. You may need to rent a moving truck. Also remember that you will need to have money for a security deposit and first month’s rent at your new place.

Rent payment–On-campus housing costs are included in your tuition. Once off campus, you are responsible for paying monthly bills. Consider a roommate to help off-set rent and utility expenses.

Additional expenses–Utilities, the internet and monthly cable bill can add up fast. Also, many students forget to include gas money into their budget. You may not have the convenience of walking to class. Also consider renters’ insurance. It’s an inexpensive way to protect your property.

Emergency fund–It’s important to plan for the unexpected. Whether its car troubles or personal illness; opening a savings account and putting a little money away each month will provide you peace of mind.

Fun money–Everyone needs to do the things that interest them. Build money into your budget for going out with friends or taking that spring break trip.

It may be tempting to procrastinate about this but, if you’re on a tight budget, planning ahead will help you stay within budget. It will also help protect your credit score: vital both during and after college.

Melissa Timmerman
Branch Manager,
Citizens Bank-Dickeyville