Tips for Managing Rent as a College Student

Living outside of the dorms means one thing: freedom! While this may mean no more restrictions on visitors and curfews, renting a room or an apartment on your own means added financial responsibility. So, we’ve comprised a list of ways to manage your budget and pay the rent on time. In addition, carry the right Connecticut Renters Insurance for College Students to ensure your belongings and property are secured.

Don’t rent a place you can’t afford.

While a sleek apartment with a rooftop pool might be incredibly alluring, think about your budget. Rent will be the largest monthly expense on top of food, books, etc. Stick to spending no more than 30% of your income on rent. However, if you’re living off student loans or only working part-time, you should look for an even more affordable place.

Create a budget.

Begin by listing your monthly income and all your expenses, including rent, utilities, food and entertainment. It’s OK if they’re just estimates. As you begin tracking your spending, you’ll have a more accurate idea of where your money is going, says U.S. News. Download a free money-tracking app such as Mint or Level Money to see where your money is going each month.

Ask about discounts.

Many places offer student discounts, so before checking out at the movies or the grocery store, ask if any apply.

Rent textbooks.

Don’t buy brand new textbooks from your college bookstore. Instead, rent them or buy them used. There are plenty of rental sites such as Campus Book Rentals, Amazon and Barnes and Noble that will save you hundreds of dollars.

At Byrnes Agency, we specialize in safeguarding your property and your assets. We understand the risk implications of renting and seek to provide comprehensive coverage to give you peace of mind. To learn more about our coverage plans, contact us today at one of our three locations.

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Dayville Office

Phone: (860) 774-8549
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm