Budgeting Checklist – the first rental apartment
5 minute read
March 10, 2021


If you are new in the town and renting an apartment for the first time, some know-how and budget management are essential. These two are considered the most crucial steps. Don’t worry! I am here to help you with the budget. In this article, I provide you with a budgeting checklist for the first rental apartment. By following this article, you can easily manage your finances.

Budgeting checklist for First Rental Apartment

When you start making the budgeting checklist for the new apartment, kindly do not ever forget to include the essential things mentioned below.


Rent always takes up a huge part of your income. Plan according to your requirement, like how much money you can afford to pay as rent. You have to pay the rent every month and on time. So always be sure that you have maximum money already planned in your budgeting checklist to avoid any trouble.


This is the most important essential. If you are moving in the city or out of the city in the same country, you have to hire experienced movers or moving companies. To analyze the expected moving costs, always check out the available moving cost guide. Include this one-time expense in your budget checklist.


To convert an empty new place to a furnished one, furniture is also essential. You also have to add the furniture costs to your budget checklist as a one-time expense like moving.  For the first time, buy cheaper furniture for your apartment.


Are you using public transport such as a train or a bus to go to work every day? If you are riding your bike or car or using any other public transport daily, add your budget list’s monthly transportation expenses.


If you are living alone and feeding yourself on your own. So plan the grocery shopping according to your daily routine and how much you need in a month. Do groceries at the starting of every month and put all the monthly grocery expenses in the budget checklist after shopping.


Electricity is one of the main utilities that we all need in any case. So always make sure that you already have the electricity connection done before you move into your new rental apartment. You can save electricity by doing proper research in several ways. Before moving into any new area, take information about the average costs of electricity billing. Always include the billing and saving costs in your monthly budget.


Heating and gas are also essential utilities. You also have to pay for them in your new rental apartment. But in some cases, these costs are already included in the early apartment payment. So first, ensure this before you move into a new apartment by asking your landlord. Also, question your landlord about the expected monthly heating and gas bills. But keep one thing in mind that in winters, your gas bill may rise. So don’t worry about this.


Always cross-check about the other utilities that you need to cover before moving into the newly rented apartment. Because in most of the areas you have to pay money for water, garbage or services fees. If you pay money for them, then include these expenses in your budget checklist.

Car Loans

If you buy a car on loan after moving into your newly rental apartment, you have to pay several monthly payments. These payments include car insurance, down payment, and car lease payment. So put all these costs mentioned above of the car in your budget checklist.


If you have a landline or own a cell phone, you have to pay some cost to use them every month. So add the phone bills to your budget checklist monthly.

Credit Card Payments

If you have a credit card and you use it to clear all the regular payments daily. Then always ensures that you pay the minimum amount from your credit card monthly. Doing payments from your credit card is the most important thing because it can help you in the future. With the minimum use of a credit card, you can build a good credit score and quickly get a mortgage if you need it in the future. This also affects your renting ability in a good way.

Health and Renter Insurance

Health insurance is compulsory because if you have this insurance, you do not have to pay your full hospital bills. A large portion of bills can be covered by health insurance. On the other hand, Renter insurance is not compulsory at all. But if you do your renter insurance, then it is a good idea for your security. Generally, this insurance is cheap and provides renters excellent coverage.

Entertainment and internet

These both things also somehow become essentials of our lives. But for entertainment and internet connection, you also need some budget management and planning. All the outings, online streaming charge some costs. Always put these costs in your monthly budget checklist.


I hope when you rent your first apartment, you will follow this budget checklist. Managing the budget can help you to save a good amount of money for your future. This also provides you peace of mind and helps to manage your bank account monthly. So if you want to live a happy and stress-free life, then take out some time and manage your budget first. If you are looking for a mortgage to get a home that fits your budget, get expert advice and opinion from Aceland Mortgage today!

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