When you’re thinking about becoming a first-time renter, there are lots of things to ponder . Many of these factors will revolve around knowing how to budget for your apartment upfront and setting up a monthly budget between yourself and potential roommates.
Finances aren’t going to be the most fun aspect of your first apartment , but they are a necessary one. In today’s competitive rental market (especially in big cities) it’s crucial to have all of your budgeting skills up to par , as it could help you gain an edge over other applicants.
If you need some budgeting pointers, follow the guidelines below to get started:
Location is everything
There’s a good chance you already have an idea of which neighborhoods you want to live in. Depending on the locale, your monthly budget can differ drastically. Many renting experts recommend that you not spend more than 30% of your annual income on rent, and many property managers will refuse an offer if you’d be spending too much on rent.
However, you might have to be flexible about this rule in cities where high housing costs are way above the norm, such as New York City or San Francisco. In places like these, you might have to plan even further in advance, as the screening and budgeting process could take much longer.
No matter where you choose to live, though, you will need to– above all else– ensure that you are setting a realistic budget based on your take-home pay and the desired city/neighborhood.
Account for all your utilities
We’ve written about accounting for your utilities in the past, but the important part here is to make sure you don’t miss anything. There are a lot you could be responsible for, so go through and make sure that you’ve accounted for them all. You don’t want to be caught out by almost moving in, just to find that you haven’t yet set aside money for pet fees, renter’s insurance, or something else not so obvious.
Expect to pay a lot upfront
Renting might be cheaper than buying, but you’ll still have to spend some serious cash in the first few months to secure your dream apartment.
In most situations, landlords will expect a security deposit, first and last month’s rent, application fees, a possible finder’s or broker’s fee, and a pet deposit if you have one (or more). Expect to be paying two to three times your monthly rent upfront, so make sure you and your potential roommates are saving accordingly.
Budget for more than housing
Unfortunately, the above are just to secure the apartment itself. Moving into the apartment is another large expense, since renting moving trucks doesn’t come for free. You still need to eat to live and may need more things like furniture and household goods you haven’t really needed before. You’re going to have to fully stock a kitchen and furnish several rooms, and those are going to take a significant amount of money. Price out a bed, mattress, tables, chairs, a couch, kitchen utensils, pots, pans, and everything else you might have reason to use. Here’s the time when you want to find things that serve multiple purposes, cutting down both on how many things you need to buy, and the money you need to spend.
Of course, you’re going to have to leave your apartment sometimes, and you need to account for that. How will you get around? Car, public transportation? All of those have a cost attached. When and how often are you going to eat out, or just go out for a night on the town? These don’t come free, and failing to budget for them will leave you wondering where you keep coming up short.
Select roommates carefully
An apartment can be a big financial burden, so why not divide it with your friends? You’re striking out on your own, so why not take your college friends with you?
Hanging out with a friend and living with them aren’t the same thing. Things might work out well, but there’s always the chance things go wrong. Do you know how well they handle their finances? If your roommate doesn’t pay, you’re still liable for their half of the rent. Having to pay for someone else’s financial irresponsibility can make things awkward, if not outright hostile.
As such, it’s crucial that you screen each individual who might be a potential roommate. If he or she seems like a great candidate, meet with him or her to discuss how you might divide bills and rent, as well as where you stand on additional guests and splitting up chores.
Save for those little extras
You might plan out every detail with you and your roommates and think all the bases are covered upfront. However, you’ll need to consider your rainy day fund, as well as other monthly expenses that might have slipped under your radar.
For instance, do you like going to the gym? You won’t have one on campus anymore, and gym memberships can get pricey, so you might have to reallocate your spending. You also need what I call a “fun fund”– it’s not all work and no play, after all. This budget is for nonessentials like money for dining out with friends, going to the movies, expenditures for various hobbies (gardening, painting, etc.), gifts, shopping, and traveling. You can’t predict everything with certainty, so you need some extra money for all the little things that come up. You’re looking forward to the freedom that your first apartment will give you, so make sure to budget a bit of that freedom in there as well.
Moving into a new apartment comes with its fair share of costs – monthly rent, move-in expenses and setting up utilities accounts. But, hey, ever thought about going for an apartment where utilities are already part of the rent? It’s a game-changer, and you’re about to learn why more renters are trying to find apartments with included utilities.
What do you get when you rent apartments with utilities included?
Before you get excited, know that not all apartments are created equal. The utilities covered can vary, from the basics like electricity, water, sewage and gas to some fancy ones like internet and cable in modern spots. So, make sure you’re clear on what’s included.
Seven reasons to rent utilities-included apartments
Not every apartment will come with included utilities, but it might be worth the longer search. We’ll show you why here.
One-payment wonder
Forget the hassle of managing multiple bills. With an all-inclusive deal, you just pay your rent – easy peasy. It’s a budgeting dream that saves you time and stress.
Setup-free zone
Moving is chaotic enough without dealing with utility companies. Skip the calls, wait times and research when you move into apartments with utilities included. Your utilities are sorted, and if there’s an issue, it’s your landlord’s headache.
No extra fees
Say goodbye to activation fees and service charges. Everything is set up, ready to roll. Your wallet will thank you, and it’s one less thing on your moving checklist.
Usage freedom
Enjoy guilt-free AC blasting or long hot showers. Living in a utilities-included pad lets you be you without constantly worrying about the impact on your bills.
Steady budgeting
Forget the monthly bill surprises. Lump your utilities with rent, and you’ve got a fixed amount to budget for. No more winter shockers or sweating over the heat bill.
Roommate bliss
If you’ve got roomies, rejoice! Splitting one bill (rent) is way simpler than dividing up a bunch of them. Less math, less stress.
Credit check once
Setting up utilities can mean multiple credit checks. Not cool, right? With an all-inclusive deal, your credit only takes one hit. Less stress on your credit score.
But, what about the cons?
Sure, it sounds like a dream, but reality check – the rent for utilities-included apartments is usually higher. Landlords jack up the price to cover all those included perks. It’s a trade-off – convenience for a bit more cash.
Make life simpler by finding apartments with utilities included
Ready for a stress-free living experience? Check out apartments with utilities included on Apartment Guide – just hit the “Some Utilities Covered” option. Whether you’re staying put or moving, there’s an apartment with your name on it, and utilities included. Easy living, right?
Want to learn how to get paid to do nothing? Picture this: making money without putting in much effort, even when you’re just relaxing, sleeping, or waiting in line. The idea of getting paid for doing nothing has always been popular and it’s probably your dream life. It may seem too good to be true,…
Want to learn how to get paid to do nothing?
Picture this: making money without putting in much effort, even when you’re just relaxing, sleeping, or waiting in line. The idea of getting paid for doing nothing has always been popular and it’s probably your dream life.
It may seem too good to be true, but there are real ways to use your free time or things you already have to make money with minimal ongoing work.
There are actually quite a few things on this list that I regularly do so that I can make money doing nothing.
Now, some of the ways below may take initial effort or even some maintenance over the years. But, you may be able to earn money while sleeping or while at the beach with minimal effort needed from you.
Best Ways To Get Paid To Do Nothing
Do you want to earn money while you relax? You can get paid without a 9-to-5 job. Let’s look at some ways to make money while doing nothing.
Here are some ways out of the list below that you may be interested in:
Sell printables online – These can be made once and sold an unlimited amount of times. Learn more at How I Make Money Selling Printables On Etsy.
Pose as an art model – It’s simple; just sit still! Art schools pay models around $25 per hour.
Real estate – You can invest in real estate funds. Your money might work for you, and you don’t have to manage properties.
Take online surveys – You can answer these whenever you have free time and the questions are extremely easy. Best online survey sites include Branded Surveys, Swagbucks, and Survey Junkie.
Rent your stuff – You’ve got stuff other people might want for a day or two. Think about renting out things like your storage room, baby gear, RV, and more.
Learn more about the different ways to get paid to do nothing below.
1. Sign up for a rewards credit card
Earning money without working hard can sound really nice. One way to do this is to get a rewards credit card. When you use this kind of card, you can get points or cash back for buying things you would buy anyway.
When you sign up for a new card, you might receive a big signup bonus. Some cards give you bonus points, like 50,000 or even more, as a welcome gift! However, you usually need to spend a certain amount of money first (such as $4,000 in the first 3 months).
Here is a table with the different types of rewards you might get:
Reward Type
What You Get
Points
Use for travel and gift cards.
Cash Back
Money back on your purchases.
Mile Rewards
Miles to fly on planes for free airfare.
I have a few rewards credit cards and I earn points every time I use my credit card, such as by paying a bill or going grocery shopping. I actually just signed up for a new rewards credit card this week that has a great signup bonus value of over $800.
Two rewards credit cards that I personally like are:
Important note: Using credit card rewards is a good idea as long as you use your credit card responsibly. It’s not smart to go into debt just for rewards because having debt with interest is not free or helpful. To truly make money from credit card rewards, be sure to pay your full credit card balance every month.
2. Get paid to stand in line
If you don’t mind waiting, you can earn money by standing in line for other people. Some companies and individuals pay for this service, especially when they’re busy or want to attend popular events without waiting.
Here’s how it works: You take someone else’s spot in line, like waiting for tickets or securing a spot at a busy restaurant. You do the waiting for them so they don’t have to.
You can earn approximately $25 to $35 per hour by just standing in line. The exact amount depends on your location and how much people need line sitters.
To get started, search for websites that link line sitters with clients, such as Taskrabbit, Same Ole Line Dudes, and InLine4You. Join the sites, create a listing for your services, and wait for someone to hire you.
3. Dividend-paying stocks
One of the best ways to make money without a job is to invest in dividend-paying stocks.
When you invest in dividend-paying stocks, you’re buying a piece of a company that gives you money regularly. Think of it like getting a small thank you for holding on to the company’s stock. These payments usually come from the company’s profits and they’re called dividends.
Here’s how it works. You buy stocks that pay dividends, and then, every so often (usually every three months), the company sends you money. It’s a way to earn without doing much after your initial investment.
Now, a table to show you what to look for:
Term
Meaning
Dividend Yield
How much you earn compared to the stock price
Payout Ratio
The part of profits used for dividends
Ex-Dividend Date
The day when you must own the stock to get paid
Keep in mind, not all dividend stocks are the same. Some may lose value and payments could stop if the company isn’t doing well. So, it’s important to choose wisely, and you might want to seek guidance from someone who knows a lot about stocks.
For me, I love earning dividends. It’s like being rewarded for saving for retirement, and it is so easy.
Recommended reading: What Are Dividends & How Do They Work? A Beginner’s Guide
4. High-yield savings accounts
When you put your money in a savings account, you want it to grow. High-yield savings accounts are like your regular savings account but with an extra boost for making your money grow faster.
The interest rate or annual percentage yield (APY) is what the bank pays you. The higher the APY, the more money you make. Good news! Some of these accounts offer APYs much higher than the usual, like more than 5%! That’s a lot better than the average savings account.
I personally use Marcus by Goldman Sachs and they have a very high interest rate. You can get up to 5.50%, at the time of this writing, through my referral link bonus. So, at this rate, if you have $10,000 saved, you could earn $550 with a high-yield savings account in a year. Whereas with normal banks, your earnings would only be $46.
You must be thinking, “What’s the catch?” Well, most of these accounts are from online banks. No biggie, just that you won’t have a bank branch to visit. They also tend to not offer other features, such as bill pay and checks – it’s simply a place to park your money and earn a lot more in interest.
5. Sell printables
If you want to earn money while doing nearly nothing on the internet, you can try selling printables online. Printables are files that you make once, like planners, invitations, flash cards, and worksheets, and then sell over and over again.
Yes, you will have to make the printables and open a store, but after a while, you can start making money from the same printables over and over again.
This is because printables are digital products that sell with just simple downloadable files.
I recommend reading How I Make Money Selling Printables On Etsy to learn more.
6. Share your opinions
You can earn money in your free time by joining paid market research studies. Keep in mind, it won’t replace a full-time job (they usually pay only $1 to $3 for each survey you complete), but you might make some extra cash.
When I was paying off my student loans, I did online surveys almost every day. I did them before work, during my lunch break, or after work. What I like about answering online surveys is that I can answer them whenever I want, such as while watching TV or eating lunch.
Some of the survey companies I recommend include:
Please head to Best Paid Online Surveys to read more.
7. Rent out your extra storage space
If you’ve got extra room at your place, you can make money by renting it out.
Think about renting out parts of your home, like an empty closet, your driveway or parking space, or your garage. Websites like Neighbor allow you to list these spaces for someone to store their belongings (such as a car, sofa, boxes, and more).
Neighbor is like the Airbnb of storage space. Instead of having guests over, you’re renting out your storage space to store other people’s belongings.
8. Sell stock photos
Selling stock photos is a good way to earn money through passive income without actively working for it.
You upload photos you’ve taken with your camera or phone to a platform like Depositphotos. When someone buys one of your photos, you get a commission.
Websites, companies, and blogs use stock photos for all different kinds of reasons. Businesses use them to improve their content, websites, or overall appearance, as they may not have the time to take photos of everything they need.
I personally use stock photos in my blog posts all the time, and I know many, many others who do as well. The photos throughout this article are all stock photos, so you can see how useful they are to website owners.
Stock photography includes pictures of things like:
Travel, landscapes, and outdoor scenes
Business settings like laptops, offices, and people working
Family moments, including parents and children
Household items, such as living areas and kitchens
Animals, including pets and wildlife
Vehicles like cars and boats
Sports, from professional events to casual games
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
9. House sitting
For some people, house sitting is the ultimate dream job. You may be able to watch houses around the world in dream destinations after all!
House sitting involves taking care of someone’s house while they’re away. It’s a way to earn money without much effort. Your responsibilities include staying in the house, making sure everything is safe, collecting mail, and sometimes looking after pets or watering their plants. Many times, people just want it to look like someone is living in their home so that no one will try to break in.
You can find house sitting jobs on websites like TrustedHousesitters and Care. You may also find these types of jobs through dog walking gigs, such as on Rover.
10. Invest in REITs
Investing in a Real Estate Investment Trust (REIT) is like buying a small piece of many buildings without the hassle of managing them.
REITs are companies that own many real estate properties, and they earn money by renting out space in those properties. Imagine shopping malls, apartments, and offices as examples.
Here’s how it works:
Choose a REIT – Look for REITs with good histories, like those experts trust.
Invest Your Money – You can start with a small amount of money.
Earn Money – REITs make cash from their buildings. They share this cash with you through dividends.
11. Pose for art classes
If you can stay still for a while, you might like posing for art classes. When you pose, art students look at you and draw or paint your picture. It’s a way you can make money by just sitting or standing.
Most times, art models get about $20 to $30 each hour. You’ll usually be there for around three hours or more.
What will you do? You will hold a pose. A pose can be something like sitting in a chair, standing, or making an interesting shape with your body. These poses can last from five to twenty minutes. Don’t worry, you get breaks so you can stretch and rest.
Who can do this? You don’t have to look a certain way. Artists need all kinds of people to learn how to draw humans well. You just need to be okay with being looked at while you are posing.
Where to find these jobs? Check with local art schools, colleges, or community centers. They usually need new models. You can also look online for art model jobs in your area.
12. Listen to music
If you enjoy music, you can actually make some money by listening to songs. You can use apps and websites that pay you just for listening. Companies want your opinion on new music, and they’ll pay you for your time!
Slicethepie is a popular site that pays you to listen to music. Other popular sites include Playlist Push, Current Rewards, and Hit Predictor.
Here’s how it typically works:
Step
Action
Find an app
Look for apps that offer payment for music listening.
Sign up
Create an account on these platforms.
Listen and rate
Start listening to music and provide your honest feedback.
Earn
Collect your earnings, usually through points that can be converted into cash or gift cards.
13. Get paid to work out
Yes, you can get paid for being active, even while doing your regular workout!
Apps like HealthyWage make staying fit exciting by allowing you to bet on your fitness goals. You set a weight loss target, bet on yourself, and join others with similar goals. If you achieve your goal first, you win money from the prize pool. It’s a friendly competition with a chance to earn a financial reward.
14. Become a notary
If you want to earn money with little effort, you might think about becoming a notary. As a notary, your job is to be a witness when people sign important papers and to check that the people signing are really who they say they are.
So, yes, you are still working a job, but you are simply watching people sign papers.
What notaries do:
Meet people who need papers signed.
Check their IDs to make sure they are who they say they are.
Watch them sign the document.
Use your notary stamp and write in your record book.
You can make anywhere from $9 to $21 per hour, but it depends on things like where you live and if you have to go to people or they come to you.
15. Mattress tester
Testing mattresses is a unique side hustle where you can make money by just testing out mattresses.
As a mattress tester, you’ll test beds and write reviews about your sleep quality, comfort, and any other observations. Your feedback is valuable as it helps companies improve their products to better meet customer needs.
Some mattress companies pay individuals like you to test their products. This helps them figure out how comfortable their mattresses are and how they can make them even better.
You can find these gigs by researching local sleep clinics or mattress companies that offer paid studies or testing.
I have actually been paid to test mattresses in the past, and it is easy! I was only paid with free mattresses, but at one point in a single year, I think I received 5 or 6 mattresses. I ended up giving away a couple to friends and family because the work was so easy.
16. Join a sleep study
Similar to testing out mattresses, you may be able to get paid to join a sleep study.
Sleep studies are research projects that help doctors understand sleep patterns and disorders. If you’re interested in earning money while contributing to science, participating in one of these studies is an option. Typically, sleep studies seek specific types of participants, such as a particular age group or weight range. Your initial step is to determine if you meet their requirements.
After being accepted into a study, you’ll visit the center for tests. During the study, you might wear special equipment while you sleep. This equipment helps researchers monitor and track your sleep patterns.
The payment you receive depends on how long the study is, which might be for one night or even several weeks.
Many universities, like the Harvard Division of Sleep Medicine, pay for sleep studies.
17. Put an advertisement on your car
If you want to earn extra money without doing much, think about turning your car into a moving billboard. Companies will pay you to put their ads on your car.
To start, join a car wrap advertising company like Carvertise or Wrapify. They’ll place a special sticker, called a car wrap, on your entire car or specific parts of it. These companies seek drivers to display ads on their cars, and the more you drive and the places you go can increase your earnings.
Your car’s make and model, condition, and paint quality are important. They decide how well the ads will stick and look.
The type of ad wrap you choose changes how much you get paid too. The options are:
Full wrap
Partial wrap
Just the windows
Here’s what you might be able to earn:
Car Wrap Type
Possible Earnings
Full Wrap
$200 to $1000 per month
Partial Wrap
$150 to $250 per month
Window Ads
$100 to $250 per month
Keep in mind that the earnings can vary. It depends on factors like how frequently you drive and where your car is visible.
Recommended reading: 6 Best Ways To Get Paid to Advertise On Your Car
18. Rent out a spare room in your home
If you have an extra room in your house and want to earn passive income streams, you can make money by renting it out. This is a smart way to earn cash without much work.
I have had several roommates over the years. We would rent out our spare room to long-term renters and people that we personally knew (such as friends and my sister).
To find a roommate and earn rental income, you can advertise your space in various places. You can announce on your personal Facebook page, place an ad on websites like Craigslist, create a rental listing on Airbnb, and more.
Whether you have a house or an apartment, this may be an option available to you.
19. Use cash back sites
When you shop online, you can earn money back on what you spend by using cash back sites.
Think of it like getting a discount, but instead of saving money right away, you get some cash back later.
I use cash back sites and apps pretty much every single time I shop – it’s easy, free money for me.
Popular cashback sites include:
Rakuten – Gives you a percentage of your money back.
Swagbucks – Earns points that you can exchange for cash or gift cards.
Fetch Rewards – I use this site for every single grocery receipt I have.
Ibotta – Another easy grocery scanning app to use.
For example: To get cash back, all you need to do is create a Rakuten account, visit their website, and click on the store where you want to shop (such as Target, Best Buy, Old Navy, etc.). They will then redirect you to that store, and you can shop online as you normally would to get cash back.
These types of sites typically pay via free gift cards or PayPal cash.
20. Rent out your RV
Renting out your RV can be a way to earn extra money on something that might be sitting around collecting dust (and rust!).
By renting it out, you could potentially make $100 to $300 a day or even more.
RVing has become very popular these days, and people frequently rent RVs to explore on vacations or even to try out a specific RV model before making a purchase.
One RV rental platform that I recommend is RVshare. RVshare is basically an Airbnb just for RVs. It’s a site where you can list your RV for rent and RVshare will handle all payments and bookings for you.
Similar to this, you can also rent out your car on Turo!
Recommended reading: How To Make Extra Money By Renting Out Your RV
21. Receive a pension
Getting paid to do nothing may sound like a dream, but if you have a pension, it’s a real thing that can happen when you retire.
A pension is money that you get regularly after working for a certain number of years.
When you work at a job that offers a pension plan, your employer puts money into this plan for you. When it’s time to retire, this money comes back to you, usually every month.
The amount you get usually depends on three things:
Age – Generally, the older you are when you retire, the more you get.
Salary – How much you earned at your job can affect your pension.
How long you worked there – The longer you worked, the higher your pension.
Sometimes, you might have the option to receive all your pension money at once, known as a “lump sum.” It’s a substantial, one-time payment instead of monthly checks. Make a wise decision by considering what works best for you. If you’re unsure, seeking advice from someone knowledgeable about finances could help you decide.
Frequently Asked Questions About Getting Paid to Do Nothing
Below are answers to common questions about how to get paid to do nothing.
How can I get money for doing nothing?
You might be surprised, but there are ways to earn money with little to no effort. For instance, using a cash back credit card for your everyday spending allows you to get a percentage back. You can also do any of the things above, such as selling digital downloads online, finding a job that will pay you a pension once you retire, investing in dividend-paying stocks, and more.
What are jobs where you do nothing and get paid a lot?
So, it can be hard to work an actual job that pays you a lot of money to do nothing. After all, if that existed, then everyone would be doing it, haha! Some jobs do pay you, though, for simple tasks, such as being a notary.
Can I really make income by just being idle?
Yes, you can make passive income through methods like earning interest from a high-yield savings account or renting out your spare space.
Where can I find jobs that don’t expect much work from me?
Look for gig economy jobs where you can earn money based on the tasks you choose to accept, such as delivering food or charging electric scooters. There are so many other side jobs that aren’t even mentioned on the list above, such as creating an online course, becoming a taste tester, micro-investing (such as with the Acorns app), becoming a background actor, watching ads, affiliate marketing, delivering groceries, writing a book review online (such as for Kirkus Media), playing games, talking with an online companion or strangers, and more.
How to get paid to do nothing online?
Some ways to get paid to do nothing online include selling digital files and stock photos. These will both require initial work from you, but eventually, these will sell with little work needed by you.
How To Get Paid to Do Nothing – Summary
I hope you enjoyed this article on how to get paid to do nothing and found one or more gigs that fit what you’re looking for!
As you can see, there are many ways to get paid to do nothing (or almost nothing).
You can grow your savings effortlessly with high-yield savings accounts or make money by renting out extra storage space. Investments in stocks that pay dividends or REITs can give you money regularly without needing your daily attention.
Want to learn how to make $200 fast? Having some extra income can be useful for unexpected needs or saving up money. Maybe you need money for rent, something broken on your car, or a medical bill. Maybe you have something that you’re saving for, and you just want to make some extra cash. If…
Want to learn how to make $200 fast?
Having some extra income can be useful for unexpected needs or saving up money. Maybe you need money for rent, something broken on your car, or a medical bill. Maybe you have something that you’re saving for, and you just want to make some extra cash.
If you want to make $200 fast, there are many ways to do it: You could sell things you don’t need, create and sell handmade items, use your car or home to make money, and more.
There are lots of ways to make $200 fast!
My top picks to make $200 fast
Selling items from around your home, such as clothing, an old cell phone, furniture, and more. You can learn how to flip your stuff in this free webinar.
Make $65+ per hour in a focus group sharing your opinions with User Interviews.
Rent out your RV with RVShare.
Freelance proofread and learn how to become a proofreader in this free webinar.
Start a blog (this is what I do!) and learn how in my free How To Start a Blog course.
Best Ways To Make $200 Fast
Below are the best ways to make $200 quickly.
Selling items from around your home
The quickest way to make $200 fast is to find stuff you already own and sell it.
When you’re in a pinch for cash, your home can be a treasure trove of items you can sell. Start by gathering gently used items or those you no longer need, such as electronics (phones, laptops), furniture (couches, coffee tables), clothing and accessories (especially branded ones), gift cards, and collectibles and antiques.
You can sell on Craigslist (ideal for bulkier items like furniture, tires, cars, etc., where local pickup is more practical), Facebook Marketplace (great for reaching a large local audience quickly), eBay (perfect for unique or more valuable items where shipping isn’t an issue), thrift stores (get cash on the spot at places like Plato’s Closet), having yard or garage sales (typically get less per item but can get rid of a lot of things at once), and more.
I have sold a ton of used items over the years such as clothing, jewelry, car tires, furniture, and more. It is easy and someone probably wants what you’re selling.
Recommended reading: 16 Best Selling Apps For Selling Stuff Online And Locally
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This free workshop will teach you how to get into the flipping business. It will teach you how to resell furniture, electronics, appliances, and anything else you can find.
Rent out your storage space
If you’ve got extra space in your home, be it an attic, basement, or spare room, renting it out for storage is an excellent way to earn extra cash.
A site to use to rent out your space is Neighbor. This website helps you earn money by renting out space you’re not using.
You can make up to $15,000 a year by renting out your garage, driveway, basement, or even a closet with Neighbor. You get to choose the prices and decide which reservations you want to say yes to and host.
Take paid online surveys
Earning $200 a day just by answering surveys isn’t normally possible (unless you are doing focus groups or paid research studies), but you can reach your goal by combining survey earnings with other ideas.
When I was repaying my student loans, I answered lots of surveys each week. I did this before work, during lunch, or after work. It was convenient because I could do it whenever I had free time.
Survey companies pay you for answering surveys, watching videos, and testing products. Sometimes, you might even receive free products to evaluate. The best part is that joining survey companies is free!
Some of the paid online survey companies I recommend are:
Here are 11 Paid Online Survey Sites if you want to learn more.
Answer questions in a focus group
A focus group is like a paid online survey, as I mentioned before, but you can make a lot more money from it.
I’ve done a focus group in the past that paid me around $400 for 75 minutes of my time. While that’s a bit more than usual, most focus groups pay anywhere from around $50 to over $100 per hour. Compensation differs significantly depending on the study’s length and topic, but higher-paying studies do exist.
Lots of consumer research companies pay people like us to share our opinions. The companies use our feedback to make their products and services better.
One focus group company that I recommend is User Interviews. User Interviews recruits participants to answer surveys and share their feedback.
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User Interviews pays very well for market research studies and these are some of the highest paying online surveys, with each paying $50 to $100 or more. The average pays over $60.
Play games on your phone
If you’re looking to make $200 quickly, your smartphone can be a surprisingly interesting way. By playing games on your phone, you can earn real money.
Game apps pay real money rewards because they make money from ads and in-app purchases. They share a part of their earnings with you to motivate you to keep playing their games.
The best game apps that pay real money include KashKick, Swagbucks, and InboxDollars.
When picking gaming apps to make money, check reviews and learn about how you get paid. Be careful with apps that ask you to pay to play or promise rewards that sound too good to be true. Also, keep track of the time you spend playing games to make sure it stays worth it.
Rent out your unused RV
If you have an RV that’s sitting idle, you may want to turn it into income by renting it out. Many people have RVs they don’t use very often. Instead of letting it just sit there, you might make extra money by renting it out. Yes, you could potentially make $200 a day by renting your RV to others.
Popular sites such as RVshare work similarly to Airbnb, connecting you with potential renters. They handle the bookings and insurance, making the process easier.
Another idea is to park your RV somewhere and list it on Airbnb. I’ve seen many RVs, campers, trailers, and more on Airbnb available for rent. Just make sure that you can rent it out in the location you want to leave it, as not all campgrounds or neighborhoods may allow it.
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RVshare is one of the best money-making sites because it helps travelers save money by cutting out the middleman and offering RV rentals directly from RV owners. If you have an RV that is sitting around, then you may be able to make $100 to $300+ a day.
Proofread
If you like finding mistakes in written content and want to know how to make $200 a day, proofreading could be a good fit for you. It can be a part-time job or a full-time work-from-home career too.
It’s a job where you can make $200 in a day, and many proofreaders earn around $40,000 a year or even more.
Proofreaders check for mistakes in articles, ads, books, student papers, emails, transcripts, and more.
To become a proofreader, all you need is a laptop or tablet, an internet connection, and the ability to spot mistakes and errors.
I recommend signing up for the free 76-minute workshop, where you can learn more about becoming a proofreader. You can sign up for the free How To Become a Proofreader workshop here.
Recommended reading: How To Become A Proofreader And Work From Anywhere
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This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
Virtual assist
A virtual assistant (VA) is someone who helps a person, company, or business owner with administrative and business tasks, making sure everything runs smoothly. They’re just like in-person assistants, but they work from home and online.
I used to work as a virtual assistant for small business owners. I didn’t have prior experience, but I learned the skills while on the job. It not only helped me earn a good income but also allowed me to work from home. I also have virtual assistants who work for me, so I know how helpful they are! This is a very in-demand job field to get into.
Virtual assistant tasks may include:
Managing a company’s Facebook account
Managing a calendar
Scheduling appointments and meetings
Creating slideshows and presentations
Managing an email inbox and handling customer support
And more.
Typically, when you begin working as a virtual assistant, you might earn around $15 to $20 per hour. However, in some cases, you could start with twice or even three times that amount. It depends on the type of work you do and the services you provide.
This can be a full-time job or a side hustle too!
You can learn more at How I Earn $10,000 Per Month From Home as a Virtual Assistant.
Selling handmade goods and crafts
If you want to earn an extra $200 fast, selling the things you make by hand, like crafts or handmade goods, is a great idea.
A popular place to sell handmade goods includes Etsy, which has a worldwide audience looking to purchase unique handcrafted items. You can also sell via social media or even rent a booth at a local craft fair.
You can sell all different kinds of handmade items such as jewelry, soap, furniture, art, photography, clothing, personalized gifts (such as engraved items), and more.
I have personally bought handmade goods all of these ways.
Freelance write
A person who freelance writes can make $200 in a single day.
Freelance writers work for clients, like websites, magazines, marketing teams, book publishers, and others. They write different things such as articles, blog posts for search engine optimization (SEO), marketing content, newsletters, press releases, and more.
You can find freelance writing jobs in many ways such as by searching on Fiverr or Upwork, looking to see if any of your favorite sites are hiring writers, networking with people in the industry you want to write in, and more.
I’ve been a freelance writer for a long time, and many of my friends also have this job. It’s a great way to make $200 a day or more all from home.
You can learn more about how to find freelance writing jobs below:
Transcribe
If you’re looking to make $200 quickly, transcription could be a great option. With a fast typing speed and strong language skills, you can convert audio files to text for pay.
Transcription is when you change spoken words from audio or video into a written document. Many businesses need transcriptionists because they need to convert audio and video into text.
New transcriptionists usually make about $15 per hour when they begin, and the good thing is, you don’t need any previous experience to get started.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
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In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
Blog
Starting a blog doesn’t instantly make you $200 on the first day because it takes time to set it up. However, with time and effort, bloggers can make $200 a day in the future.
A blog is a website with articles, like what you’re reading now. You can create a blog on topics such as personal finance, recipes, travel, pet care, family life, and more. There are many different types of blogs out there.
You can make money from a blog by partnering with companies for sponsorships, showing ads, doing affiliate marketing (for example, selling a product listed on Amazon), and selling products like ebooks, candles, T-shirts, and more directly on your blog.
This is what I do to make money, and I earn well over $200 a day online. It did take me around 6 months to make my first $100 with my blog, so it does take time to get started. It took me about a year to reach around $5,000 a month and around 2 years to get to $10,000 a month.
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
Another idea similar to this is to start a YouTube channel, TikTok, Instagram, and more!
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Want to see how I built a $5,000,000 blog?
In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
Dog walker
Becoming a dog walker is a fun way to make some quick cash if you love pets, especially dogs. You can easily get started by signing up with well-known dog walking apps dedicated to connecting dog walkers with pet owners.
Here are some steps to help you begin:
Register on Dog Walking Apps – Platforms like Rover are great for finding dog walking jobs. You could earn around $15 to $18 per hour depending on your experience and the local demand for dog walkers.
Create a Profile – Highlight your experience with dogs and any references you might have.
Set Your Availability – Decide on the days and hours you’re available to walk dogs and set your schedule.
My sister as well as my husband’s mother are both dog walkers on Rover, and they both enjoy this side hustle.
Sell printables on Etsy
Selling printables on Etsy can be a quick way to earn some extra cash.
Printables are digital files that customers can download and print themselves. These can include things like planners, art prints, stickers, learning tools, worksheets, invites, and organizational tools.
You most definitely have used printables in your life, and so have most people. I buy printables all the time because they make my life so much easier – and it’s so nice to just print things out and have them more easily accessible for when I need them.
One great thing about selling printables is that you don’t have to print and send anything yourself. The customer pays for the design, and they print it out on their own.
Here’s how you can get started:
Step 1: Find Your Niche
Determine what kind of printables you’re passionate about. Many people specialize in a certain type of printable, such as home, wedding, organizing, education, etc.
Research what’s popular and in demand. See what kind of printables people are actually buying right now.
Step 2: Create Your Printables
Use design tools like Canva or Adobe Illustrator.
Make sure your design is original and appealing.
Step 3: Set Up Your Etsy Shop
Create a memorable and easy shop name.
Set up shop policies and fill in all the details.
Step 4: List Your Products
Take attractive product photos or create digital mockups.
Write clear and compelling product descriptions so that potential customers can find your printables.
Price your printables competitively.
Step 5: Promote Your Shop
Utilize Etsy’s built-in SEO by using relevant keywords in your listings.
Share your printables on social media platforms.
Consider Etsy Ads for additional promotion.
You can learn more at How I Make Money Selling Printables On Etsy.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
Deliver groceries and food
Grocery delivery is a service that is becoming more and more popular. I’ve used it several times myself when I didn’t have time to shop or didn’t have a car available. This service is likely to keep growing.
If you’re looking to make quick cash, you can try delivering groceries and food. You have the flexibility to create your own schedule, and payment can be received pretty quickly – sometimes even within an hour.
Delivering groceries is a popular extra job, and all you need is a valid driver’s license and a car.
You get paid for each delivery and keep all your tips. Platforms like Instacart and Shipt can help you earn around $15 to $20 per hour.
Here are a couple of options for you to start earning with food delivery:
Instacart: As an Instacart shopper, you can choose to shop for groceries or both shop and deliver to customers. Being able to cash out your earnings instantly is a big plus.
Shipt: Enjoy shopping at stores like Target and CVS? With Shipt, you can earn by shopping for others. It’s a great way to combine earning with a task you already enjoy.
Sign up to become an Instacart shopper here.
Related to this: You can also deliver restaurant meals in your spare time through companies like DoorDash and Uber Eats.
Drive for Uber or Lyft
Earning $200 quickly may seem hard, but you may be able to reach this goal by driving for ride-sharing services like Uber or Lyft.
Here’s what you need to know:
Sign Up – Both Uber and Lyft require you to have a valid driver’s license, meet age requirements, pass a background check, and have an eligible car.
Flexibility – You have the freedom to choose your working hours. Whether it’s an hour, over the weekend, or throughout the week.
Earnings – Income can vary, but it’s possible to earn between $20 to $25 per hour on average. At this rate, driving for 10 hours can help you reach your $200 target.
Maximize Promotions – Keep an eye out for special promotions or peak time surge pricing (such as by driving during weekend nights or during a baseball game) as these can really boost your earnings.
Expenses like gas and vehicle maintenance will come out of your earnings, so it’s important to work efficiently and choose high-demand times and areas to increase your income.
Tutor
Tutors who know subjects well, like math, language, science, graphic design, and more, help students get better at those subjects.
Becoming an online tutor depends on the subject you want to teach. You need experience in that area, but there are options for beginners too. Tutors for advanced subjects, like calculus or college entrance exams, usually earn more than those teaching simpler topics.
Rates vary from $15 to over $100 per hour, depending on the subject and where you offer your tutoring services.
Read more at 11 Best Places To Find Online Tutoring Jobs (Make $100+ an hour).
Sign up for quick Craigslist jobs
You can make $200 quickly using your local Craigslist, which has short-term jobs and side hustles listed under “gigs.”
Some gigs I’ve seen include painting a room, running errands, passing out flyers, handyman work, loading a moving truck, shoveling snow, pet sitting, transporting a boat, and more.
You can also find quick gig side hustles through a company called Taskrabbit as well!
Note: When using Craigslist for odd jobs, be cautious of scams. If something appears too good to be true, it probably is. For instance, no one is likely to pay you $2,000 for a mystery shop or a 30-minute survey. It’s important to stay alert and choose opportunities that are realistic and trustworthy. Simply skip it if you have doubts!
Get a roommate
If you’re looking to make $200 quickly, getting a roommate can be one way to do so, and if you have an extra room at home, you can make extra money by renting it out on platforms like Airbnb or finding a long-term roommate.
Renting out a room long-term could earn you around $200 or much more, depending on the room and its location. It’s a good way to utilize your extra space for additional income.
I have personally had several roommates in the past, and it was a good source of income. Plus, we had the extra space anyway that was unused. We charged around $400 a month per room, but nowadays you can definitely get a lot more (especially depending on where you live).
Here’s a quick step-by-step guide to finding a roommate and getting paid:
Advertise Your Space – You will need to find ways to get the word out about the spare room you want to rent out. You can do this on Craigslist, your personal Facebook page, placing a post in a local Facebook group, and more.
Vet Potential Roommates – You don’t want just anyone living with you as they will be sharing your space! Here are some ways to vet potential roommates:
Interviews: Have a conversation to make sure everyone is compatible.
References: Ask for and check personal and rental references.
Discuss Financials – This is all about money, so money definitely needs to be talked about and agreed on. You’ll want to think about things like:
Rent: Determine the monthly charge for rent.
Utilities: Decide how you’ll split costs like electricity, internet, and water. Will the monthly rent include all of the bills or will you split the utilities?
Set House Rules – Rules like quiet hours, guest policies, and cleaning responsibilities help avoid conflicts.
Create a Formal Agreement – Writing an agreement will lay everything out so that there is no confusion later.
Lease Addendum: If you have a lease, add your roommate officially.
Roommate Agreement: Outline terms of rent, bills, and house rules.
To learn more about renting out your spare room, I recommend reading A Complete Guide To Renting A Room For Extra Money.
If you want to take it a step further, you could even get into real estate investing. You can learn more about this option at How This 34 Year Old Owns 7 Rental Homes.
Rent out baby items, such as a crib
If you’re looking to make $200 fast, you can rent out your gently used baby items to traveling families. By listing a crib, stroller, or car seat on rental platforms, you can help ease the travel burdens for parents while earning extra cash.
Here are some ideas of what you can rent out:
Cribs
Strollers
Car seats
High chairs
Toys
A website called BabyQuip lets you rent out baby equipment. On average, people using BabyQuip can make about $1,000 a month, and some earn over $10,000 monthly.
Redeem credit card rewards
If you have a credit card, then there’s a good chance that you are earning points by simply spending like you normally do.
Or, you could even sign up for a new card that has a good signup bonus to earn more points.
With rewards credit cards, you can turn your points into cash back. Here’s how it works: whenever you use your credit card to buy something, you earn points as a reward for spending money.
I have rewards credit cards and I earn points every single time I shop or pay a bill, and I don’t have to do anything special. Just pay my bills and expenses like I normally do! In fact, I just signed up for a new rewards credit card with a great signup bonus today with a signup bonus value of over $800.
Two credit cards that I personally like include:
Important note: Making the most of credit card rewards is smart only if you use your credit card responsibly. It’s not a good idea to accumulate debt just to get rewards because debt with interest is neither free nor beneficial. To really earn money from credit card rewards, you will want to make sure to pay your credit card balance in full every month.
Frequently Asked Questions
Below are answers to common questions about how to make $200 quick.
How can I make a quick $200?
If you want to learn how to make $200 fast in a day, then I highly recommend finding items from around your home to sell, like clothing, jewelry, and video games. This is the easiest way to get started as you probably already own things you can sell.
How can I make an extra $200 a week?
If you want to make an extra $200 a week, I recommend freelance work, which might include writing, graphic design, or proofreading. Also, renting out things you already have, like a spare room, can be a great way to make passive income.
What items can be sold to quickly earn $200?
Look around your home for electronics, clothing, or collectibles that are in good condition but you no longer need or want. You may be able to find lots of things to sell (and have a yard sale) and/or find one or two big things to sell.
How to make $200 fast online from home?
I’ve done a lot of things on the list above to make $200 fast online from home, such as freelance writing, blogging, selling items online, taking part in a focus group, and more.
How To Make $200 Fast – Summary
I hope you enjoyed this article on how to make $200 fast in a day.
As you learned above, you can earn $200 fast by doing a lot of different things, such as by freelancing, starting a business, renting out something you already own, playing games, and more.
The key is to choose what fits your life, how much time you have, and your money needs right now.
What do you think is the best way to make $200 fast?
There’s something about opening a new calendar that makes us want to feel our best. So this January, POPSUGAR is giving you everything you need to hit the reset button on your health, your habits, your beauty routine, and more. To find more articles about resetting your home, click here.
The past few years have been full of lessons. For a homebody and serial (re)decorator like me, here’s a big one: never underestimate the value of creating a home you like spending time in. (In some cases, a lot of time.)
Actually doing that is easier said than done, and there’s far from a one-size-fits-all approach. Some things — certain features of your space, or maybe your current circumstances — might make it tough to take on major changes or pricey reno projects. But one place we can all start? Finding (or creating) a home decor style that resonates, and then taking the steps, big or small, to bring it to life.
I’ve lived at 11 addresses in my life (a good chunk of those thanks to the New York City rental market), and made some questionable decor choices along the way. But my ninth home, a 350-square-foot studio apartment and my first solo adult space, was a significant turning point in understanding the power of making an empty box my own. Importantly, it allowed me to discover my eclectic and colorful decor style in the process.
Now, a few years and two places later, I’ve created a home that feels more personal — more like me and the partner I share it with — than ever. It’s an evolution of the style I established in that tiny studio that’s grown with me and that I know will only continue to.
So if you’re feeling inspired to rethink your space in the new year, or just looking for some advice to refer back to later, maybe I can help. Here are some decor tips to make your home feel more like you, so you can enjoy it to its fullest.
1. Get familiar with what you like.
We do it with food, fashion, and even dating. So why does it seem so much harder to nail down an interior style (or styles) that we like? I have a hunch. Furniture and decor isn’t the same as fashion; it’s bigger, more expensive, and takes up more space. Aside from accruing blankets and tchotchkes, it’s much easier to own multiple coats or change a lipstick than it is to swap out your sofa or have another set of dining chairs in rotation. The pieces in your home are designed to be lived with every single day, and you want to like what you’re sharing space with. In this case, decision paralysis can be very real.
So, where to begin? You’ve got options. For some, an interior-design-style quiz can point you in the right direction (especially a thoughtful one from a designer, like this). For others, scrolling through Pinterest and Instagram are the best ways to find variety at your fingertips (and save what you like). Don’t overthink it; you’ll know what you’re naturally gravitating to.
I take a hybrid approach: saving and pinning while also snapping photos of things (hotel lobbies, wall and furniture color combinations in restaurants) I see in real life. I also browse online stores like AllModern, vintage furniture resale sites like Chairish, and even Facebook Marketplace.
When browsing, don’t ignore the small stuff — even if you don’t love the big picture. For example, you may not like the way a whole room looks, but you might love a particular side table. Or you might spot a pairing of textures you love in a lamp but find a way to use that combo in a mirror. I recently saw an aged, almost-black brown wood stool on Pinterest that inspired me to buy a similarly colored bar cabinet on Facebook Marketplace. It’s now one of my favorite pieces.
2. Find a style sweet spot.
You may want your home to look like a magazine, or even the set of a Nancy Meyers film. But a few things you might be less keen on? Creating a carbon copy of someone else’s home or a time capsule of a hyper-specific decor style — early 2000s Olive Garden-style kitchens or Y2K bedrooms. (We can bring back blow-up chairs and lava lamps, though.)
While this can be hard to avoid as trends cycle in and out of style, mixing and matching can be a smart way to maintain a transitional look. Whether it’s pairing vintage with modern, incorporating family heirlooms into the mix, or laying trending patterns and textures (think: checkerboard or bouclé) over more subtle fabrics, this can help your space feel balanced and versatile.
Wherever you ultimately land may help define your decor style tastes even further. And that spot might sit somewhere between a few distinct decor styles, or many — coastal and Scandinavian, preppy meets French country, industrial with hints of art deco and glam. There’s no pressure to fit neatly into a box.
Let my space be an example: my living room is home to a mix of Chinese and Japanese accents, a Moroccan rug, a postmodern coffee table, a modern CB2 credenza with clean lines, a ’70s lamp, and curtains I found at Ikea. It’s eclectic and varied, exactly the way I like it.
3. Embrace the evolution.
All good things must come to an end, or at least change and grow. You’ll know when it’s time to let your space — or your tastes — evolve.
Maybe you’re moving into a bigger space and need the furniture to match, or maybe you’re entering a new phase of life and ready to replace an old table with a sturdier investment piece. In cases like mine, you might be transitioning from living alone to with a dog, a roommate, and eventually a partner. Or you might just generally be ready for something new.
Whatever the reason, trust your instincts about what stays and what goes, and take your time. You might want to keep sentimental artwork, statement furniture, and your sofa. But it might be time to change a rug, a table lamp, or your bedding.
And if you like what you’ve already created but just want to iterate on it, find replacement pieces with familiar qualities like colors, silhouettes, or patterns. Black-and-white patterns have become a staple of my spaces, as have bold uses of green in different shades. I interpret them a little differently each time — on a rug and then a headboard, or on towels and then a lamp — but now, they’re a signature. Wherever they are feels like home.
There seems to be an exorbitant number of young people posting all kinds of pictures and stories about their incredible (and expensive) travels online. And alongside that, most of us young people are struggling just to find affordable housing. So what gives? How is this generation of Americans both more broke than other generations, and also traveling so much? Well, we’re diving into some answers here, so keep reading!
1. It’s All on Credit
One user said, “I have a friend who takes 4 or 5 vacations annually. She and her husband are not wealthy by any means. I asked how they could possibly afford it (bc I was jealous), and she said it was all on credit. I stopped being jealous after that.”
It’s true: a lot of people use credit cards to travel and then make payments afterwards to catch up. Sure, you get cool experiences, but is it worth it to have standing debt that’s accruing interest at an exorbitant rate? Most of us would say no.
2. Debt and Nihilism
One Redditor shared, “Debt and nihilism. A lot of them kind of think the world is going down the crapper and their lives will only get worse from here on out, so might as well enjoy it.”
Another user replied, “Pretty much, honestly. I’m 26, a relatively s- job. Want to start a career, but that’ll require more school, which is fine. The [debt] will only set me back around a year, and I’ll make a bit more thereafter. Even after that, I won’t make enough to both afford a house and contribute a lot to retirement, though; I might as well get my money’s worth in life in my 20s and 30s while I’m still a beast physically (ski vacations, backpacking, running every event from 800 to ultras, hopefully after graduating more expensive stuff even like mountaineering, alpine touring).”
Ok, we understand this view a little better. It’s true, the world is changing rapidly and there’s a lot of joy to be found in traveling while you’re young, and strong enough to have the more intense adventures. But just proceed with caution, especially where credit cards are involved.
3. Rich Parents
“Rich parents,” one user posted.
Another user commented, “Definitely rich parents or running up credit card debt. I went to school for 8 years and ran up around 300k in [debt]. About a year or two after graduating, a classmate shared that he paid all of his student loans off. While I was funding everything with [debt], he was being heavily funded by his parents, so his [debt] was a fraction of what mine was, and he knocked it out fast.”
To be fair, if we had wealthy parents, we’d probably travel too. Probably the worst part about this one is that young people with wealthy parents are more often than not quite out of touch with the struggle middle-class people have to save up and travel. So, compassion might be the key here. That, and maybe keeping some of those gorgeous photos in a private chat instead of an Instagram feed.
4. Credit Cards
One user shared, “Credit cards are a [hecking] drug.”
Another user commented, “Yup I worked collections for too long, and I would see people barely make the minimum payment and then turn around and ask how much [they had] left to spend. Crazyyyyyyyyyyyy.”
One added, “When I was working in retail, I had an amicable ‘cash or card’ chat while ringing someone up when I said something like, ‘I’d just as soon use my card for everything and get the points.’
“The customer, 10+ years older than me and spending a couple hundred dollars, kind of scoffed and said, “Yeah, if you pay it off!”
“That’s not to knock anyone using credit cards to make ends meet. Still, it’s stuck with me because she was fully insinuating that it was unreasonable for anyone to pay off their balance reasonably regularly. Like, ma’am, are you sure you want to buy this dress?”
5. They Live With Their Parents
Generational living has been a feature of many cultures both across the glob and throughout history. In fact, Americans are more of an anomaly in this regard than we usually think. But taking the opportunity to live with your parents, especially if you have a healthy relationship with them, can set you up financially for more than just travel, although that’s certainly one motivation to practice generational living!
One Redditor commented, “They live with their parents.”
Another user replied, “My dad lived with his mom until he was 45. I live with my parents as well. No rent makes a huge difference.”
6. Hard Work or Rich Parents, Possibly Both
One Redditor added to the thread, “I work with a 24-year-old. After college, he got an entry-level job at our company (he was 22) and did really well. He probably makes $70K+, has a roommate and has no kids—plenty of extra money.
“My stepdaughter is 21, works part-time at a coffee shop, and her parents pay her rent, her tuition and most of her expenses. She also has plenty of extra money. So, either hard work or rich parents, possibly both.”
7. High-Income Jobs
While we’re in high school, most of us are told to follow our dreams. And it’s really life-changing to have a job you enjoy versus a job you tolerate or really dislike. But some of us have the talents and dreams that guide us towards higher paying jobs, and that’s a fact we all have to come to terms with. Somebody who loves math and dreams of engineering will probably make more than somebody who has a passion for children and teaching.
“Rich parents or high-income jobs,” one user stated.
Another Redditor replied, “High-income jobs really hit you differently when you don’t have any dependents too.”
8. Saving Up
“When I was a new grad, a bunch of my friends/acquaintances moved out and lived independently. Had the nicest clothes and went out to every event. I lived with my parents and saved. (Lucky enough that they didn’t need my help.)
“Well, I’m in my early 30s now. I have my own condo; it’s not the nicest car, but I’m happy with it. All my friends/acquaintances had to move back home because they couldn’t afford to live independently anymore.
“I don’t know their financial situation, but they always ask how I could afford it. My parents aren’t rich, but living with my parents after I graduated definitely is the reason I could eventually move out and buy my own place,” shared one online user.
9. Being an “Influencer”
It’s not a secret that much of what we see online, especially influencer content, is mostly illusion. There are private jets to rent as a photo set; you can go get your pictures and then fly a budget airline. All the appearance of being rich; none of the reality.
One user posted, “Where do you ‘see’ these people? Are these people you know or people you see on social media?
“Being an ‘influencer’ is a freelance entertainment job. These guys earn money by appearing to have perfect lives in every way. If they don’t provoke envy or aspiration, they aren’t making as much money as possible. Don’t let yourself be sold a bill of goods, okay? There’s a man, not a wizard, standing behind that curtain.”
10. Inheritance
Ok, it’s hard to fault people for inheriting money enough to travel. And some genuinely do. But that doesn’t make it any easier to follow along with their adventures while we work away in our offices.
One user posted, “Inheritance, trust fund babies, parents’ gifts.”
11. Work in a Tourist Attraction
Credit cards seem to be the biggest answer. Young people aren’t afraid of debt in the way many others are. And while there’s nothing inherently wrong with putting trip expenses on a credit card if you know you can pay it off, there’s definitely a risk to traveling on credit too often. Your future self may not thank you.
One user shared, “I work in a tourist attraction. I’ve seen many 21-25-year-olds from the U.S. and other continents travelling here. A lot of them are in college! I’m the same age as them, and I wasn’t able to afford to go travelling or party while in college. Edit: I would like to note a majority of them are paying with credit too.”
12. There Are More Affordable Options if You Plan It Right
“Everyone else has covered the how, but I do want to mention how important it is to travel when you can. There’s no reason to make it lavish to get the benefit from it. There’s lots of more affordable options if you plan it right. Start with weekend road trips. I never left the country (USA) until I was 25, and now I’ve been to 16 countries (although some were for work trips). I try to take one proper vacation a year. Every other year, I do something more extravagant (that I have time to save up for), and the off years, I do something domestic.
“I think it’s the best gift you can give yourself to see how other people live and experience their culture. It expands your horizons and also helps you appreciate home,” one user added.
13. Making Money off Scams
One user shared, “A lot of people I’ve seen in their 20s are doing fraud. I don’t know in detail how they do it, but it’s something with CPNs and people’s social security. I’ve seen people with all these designer bags and designer clothes and going on all these trips. Yet they work in a warehouse or a low-paying job. They are, without a doubt, scamming. Also, I know a lot of women deal with men who are willing to spend money on them. I have friends who will get flown out by men they are dating. These men also seem to be doing illegal activities. Trust me, a lot of people out here are not living right. They are risking their freedom for a fake lavish lifestyle.”
14. Selling Themselves Online
One user commented that most likely, lots of influencers have switched to having paid subscribers to their accounts. And while it’s not exactly easy money for just anyone, a lot of people are succeeding at drawing in people who are willing to pay for their content. It takes a pretty high comfort level with posting yourself online for others’ viewing pleasure, but those who have the guts and the success will probably have the ability to travel on that money too.
15. They Know Someone Who Works for an Airline
“People give others gift cards and airline points and know people who work in airlines. So, if you know someone who works for an airline, you can [often] get a $100 guaranteed ticket for a flight. Or buddy pass is free! Also, work in an airline that gives you free seating when empty seats are available. Also, parents sell their homes to their kids for $80K, and the home value is $500K plus.
“They take out a second mortgage on the house to live it up in their 20’s and slowly roll into their 30s and, by 40’s, divorced and in Debt. Also, Credit card points from people to buy airline tickets and travel expenses. They also have their parents credit cards and order ride shares with accounts of their parents that have corporate accounts credit cards on them. Females are more likely to have Dad’s credit cards for emergencies and Guys more likely to have [Mommy’s] credit cards that stepdad or birth dad pays for. Also, they have credit card debt that they file Chapter 7 on, and parents most likely pay the vehicle/ rental payments. Now, they use their parents’ vehicles to make money doing rideshare/or gig work while their parents pay the rent/ and the vehicle they pay bills. Parents paid for the college! Things I have learned about from people doing rideshare and people I have met in life,” posted one user.
What do you think of the statements listed above? Share your thoughts down in the comments!
Source: Reddit.
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Even though it’s a large city, San Francisco still retains a very welcoming and neighborly vibe, and much like San Diego, New York and Los Angeles, there’s a certain charm here that draws in many new residents each year. The cost of living in San Francisco scares many off, but there are plenty of secrets to discover within this picturesque city.
All of these incredible amenities come with a steep monetary price. Even in the area’s most affordable neighborhoods, estimated monthly costs are high. In fact, the cost of living in San Francisco is a whopping 84.2 percent higher than the national average.
This is how San Francisco’s cost, as a whole, all breaks down.
San Francisco housing prices
When searching for apartments in San Francisco, you’ll face a lot of competition, even where the median rent is high. Despite the infamous San Francisco cost of living, though, people still want a San Francisco home.
As one of the hottest markets in the country, San Francisco housing is 242.3 percent above the national average. Although there are some affordable neighborhoods, many properties have an average apartment rent that’s sky-high. Not surprisingly, this greatly affects your estimated monthly costs and raises your living index. It’s also the primary reason this is such an expensive city.
To break down what this cost means, the average monthly rent for a one-bedroom in San Francisco is $3,554, up 4 percent over last year. For a two-bedroom, rent averages out to $5,007, an increase of 10 percent over last year. This is mind-boggling when you look at nearby cities like San Jose, where the average monthly rent is almost $1,000 less for both one- and two-bedroom units.
For those looking to buy, home prices vary widely depending on the neighborhood, but the median sale price in San Francisco is $1.525 million. This is up only 1.2 percent over last year, but homes often sell quickly. The median days on the market is less than three weeks.
Apartment hunting in San Francisco
Whether living a life of luxury or trying to keep things affordable in San Francisco, there’s a neighborhood for you. Even in expensive cities, you can find those hidden gems if you’re willing to look.
If you want to live in one of the more popular downtown neighborhoods like Rincon Hill and Nob Hill, prepare to pay (or find a roommate.) The average rent for a one-bedroom apartment is between $3,595 and $4,505.
For a neighborhood geared more toward young families, the average rent for a two-bed in Bernal Heights is only $2,800. For those wanting to live in California on a budget and still stay safe, the average rent for a two-bed in Outer Richmond is only $3,195.
San Francisco food prices
San Francisco is the epicenter of delicious food — more than 30 restaurants have garnered 44 Michelin stars. But, having such fantastic options does not often come cheap. Thankfully, when you’re on a budget, just go for that bread bowl, whatever is in it. In fact, you can get an entire meal at an inexpensive restaurant for $20.
For those who like to cook at home, San Francisco grocery costs are 29.8 percent higher than the national average. The data isn’t all bad, though, as this total is down by 0.6 percent compared to the past year.
Although there’s obviously variation by brand and store, there are some standard product prices that shed a light on grocery costs. For example, a dozen eggs will cost you $3.47, and a half-gallon of milk rings up at $3.55. For those who can’t get enough of that sourdough (or any kind of bread,) the average loaf will run you $4.81.
While there are plenty of locally-crafted, small-batch breweries, you’ll pay a premium price for your lager — the average six-pack is $10.19.
San Francisco utility prices
Utility rates in San Francisco neighborhoods won’t help keep your cost of living index low. While they’re 33.8 percent higher here than the national average, the saving grace is the year-round mild Bay Area weather.
As a result of the mild temperatures, there’s little need to turn on the apartment air conditioner during the summer. And during the wet winter months, a sweatshirt indoors will usually suffice. That said, the average energy bill is still high, at $275.58.
This makes utilities in San Francisco a cost of living concern, compared with most other cities. Even the companion California cities of Los Angeles and San Diego have lower utility averages.
San Francisco transportation prices
Transportation costs in San Francisco are 41.6 percent higher than the national average, which is actually 3.4 percent less than last year. The most expensive city for transportation in California behind San Fran is Oakland, San Francisco’s next-door neighbor, which has an average that’s 39.2 percent above.
What’s great about San Francisco is that the city comes with the advantage of multiple public transit options. There are the famous cable cars, the bus and rail systems and an abundance of ride-share services.
To travel in style, an iconic cable car is a great way to experience the city. Offered through San Francisco Municipal Railway (MUNI), riders can pay $8 per ride. The MUNI buses take your transportation expenses down a notch with single-ride fares at only $2.50. You can also purchase a monthly pass, which includes busses and cable car rides, for $81.
To take the train in, out and around the city, use BART (Bay Area Rapid Transport). Stops include the airport, as well as an assortment of East Bay cities. Six lines are available, with easy color-coded routes. The best way to verify the price of your one-way fare is to use the BART fare calculator. To save a little, get a Clipper Card and buy in bulk.
Thanks to its extensive public transit network, San Francisco leaves you with plenty of ways to explore where you don’t have to own a car.
Biking and walking
Biking, a popular way to get around the city, is cheap but arduous thanks to the many famously steep hills that San Francisco neighborhoods are known for. With a bike score of 77, you’ll often see bright green, bike-only lanes running next to busy streets — plus, plenty of bike-share stalls located throughout the city.
San Francisco is also ideal for walking, especially for renters in city-centric apartments. With so many amenities in proximity to area housing, this city earned itself a walk score of 93.
San Francisco healthcare prices
At 33.9 percent higher than the national average, the data says that San Francisco is an expensive market when it comes to healthcare. However, the upside to living in San Francisco is that renters do have access to some of the nation’s top doctors and treatment facilities.
It’s difficult to calculate an average for healthcare expenses, as prices are dependent on personal needs and other factors. That being said, the price for healthcare issues in San Francisco is more than in most places. Overall prices are 18.9 percent more than in Los Angeles and 26.7 percent more than in San Diego, and these other cities have their own reputations for being high-end.
Looking at medical costs in the Bay Area, a routine visit with your doctor averages out to $177.33. For an eye exam, you’ll see an average bill of $156.75 from your optometrist, while a trip to the dentist will set you back $150. These prices are without medical insurance, so the total cost could be very different depending on your plan.
San Francisco goods and services prices
Whenever your cost of living includes something you want more than you need, it’s most likely a good or service. Many of these expenses are optional, unlike housing costs, so it’s easier to keep them in check.
That said, this is an expensive item on the list. The cost of goods and services in San Francisco is 24.3 percent higher than the national average, up 2.4 percent over last year. This means you’ll most likely spend more for that movie ticket ($15), yoga class ($24.17) or a trip to the salon ($85.71) than friends in other cities.
Taxes in San Francisco
California has the highest state sales tax in the nation at 7.25 percent, and localities can add an additional tax on top of it. This makes the minimum combined sales tax rate for San Francisco 8.625 percent.
What this means is when you purchase $1,000 worth of clothing and home goods, as you browse around Union Square, you would pay $86.25 of that in sales tax.
California also has a progressive income tax, with rates between 1 percent and 13.3 percent, separated into nine brackets. Making less money means paying lower income taxes while those with a higher salary should expect to sit in the upper end of the tax bracket.
How much do I need to earn to live in San Francisco?
The price to rent a San Francisco apartment is not cheap, but it’s a huge factor in working out your own cost of living. If you’re not sure how much apartment you can afford on your annual salary, you can figure it out using our rent calculator.
You can also do a little estimating using the current standard cost of a one-bedroom apartment. The monthly rent for this unit is $3,621. If you apply 30 percent of your annual income to rent, as many experts suggest, you’d need a job that pays at least $134,720 to live on your own.
This isn’t always possible, given that the median household income in the city is $119,136. You may have to spend a little more than that 30 percent of a more average salary to live alone or consider other options. This may mean finding a monthly rent that’s lower, spending less money on those goods and services or even living with roommates. All of these options can bring San Francisco costs down and improve your own cost of living in this expensive city.
Living in San Francisco
San Francisco is full of unique beauty and charm. With its many parks, perks, great schools and happy people, this is a city for dreamers and doers — one of the best in all of California. The trick is to not let the high cost of living deter you from calling this great city home. You can do it if you watch costs carefully and budget well.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of August 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Inside: Ever wondered how much rent you can afford on a particular hourly wage? Use the rent calculator to see what you can afford on $22 an hour. Find out from the experts in this guide.
Honestly, this is something most people don’t think about until after they get themselves in a troubling situation.
Determining rent affordability is paramount in your financial planning. It’s important to strike a balance between comfortable accommodation and fiscal responsibility to avoid financial strains down the road.
There exists a direct correlation between your income and the rent you can afford to pay. Higher income opens doors to pricier accommodations while lower wages might enforce budget constraints. Understanding this relationship is crucial.
It guides your housing decisions and helps maintain a stable financial footing.
By calculating your rent affordability, you can set a clear budget, establish your housing needs, and navigate the real estate market with ease.
How much rent can I afford making $22 an hour?
If you make $22 an hour, based on a standard 40-hour work week, your gross income would come up to approximately $3,813 per month.
If you follow the 30% rule, this means you should allocate a maximum of $1144 each month for rent.
$3813 x 30% = $1144
However, remember this is a rough estimate and your specific expenses and financial obligations should also be taken into consideration before deciding on a rent budget.
What Percentage of My Income Should Go to Rent?
This is a good question to consider.
Even better when you are trying to figure out how much to save before moving out.
The 30% Rule Explained
The 30% rule is a simple guideline suggesting that one should allocate no more than 30% of their gross (before taxes) monthly income toward rent.1
This rule of thumb has been widely adopted as a measure of rent affordability. The beauty of the 30% rule lies in its simplicity and ease of use, allowing for quick budgeting while maintaining room for other essential expenses.
Be Conservative and Stick with 20%
According to Money Bliss budgeting percentages, adopting a more conservative approach to budgeting by allocating only 20% of your income towards housing costs can be more beneficial.
If you follow the 20% rule, this means you should allocate a maximum of $762 each month for rent.
$3813 x 20% = $762
This strategy helps to account for additional expenses such as utilities, unexpected repairs, and other costs that often accompany home ownership or renting.
This reduced allocation promotes being smart with your money to avoid unnecessary financial stress.
When to Consider Stretching the 30% Rule
At times, it might be necessary to stretch the 30% rule particularly in high-cost areas or during short-term situations. It’s crucial, however, to understand the potential ramifications and adjust other spending habits to compensate.
A temporary overshoot could be justifiable if it leads to significant future benefits, like proximity to a well-paying job. Always remember, that this should be an exception rather than the norm.
How Does the Rent Calculator Work?
A rent calculator is a practical tool that aids in estimating the rent you can afford. You don’t want to be forced to live on a shoestring budget.
This simple calculator is based on your hourly income and spending either 20-30% of your gross income on rent.
Fine-tuning your budget is possible by adjusting the percentage you wish to spend on housing. Remember, the final number serves as a guide and may require adjustments based on your financial situation.
Breaking Down Your Monthly Budget
For savvy budgeters, adhering to the 50/30/20 rule can provide a clear framework for managing your expenses and growing your savings. While at Money Bliss, we went a step further to define it as the 20-50-10-20-0 budget rule. (save-basic expenses-give-fun spending-debt).
This approach gives a precise breakdown of your monthly budget, ensuring that you are living within your means while also setting funds aside for future financial security.
Housing Costs
The basic 50/30/20 rule suggests dividing your monthly net income into 50% for necessities such as rent and groceries, 30% for personal wants like clothing or travel, and designating the remaining 20% for savings goals or debt repayment.
By adding these to your housing budget, you get a realistic picture of your monthly accommodation costs.
When budgeting for rent, one must account for other housing costs. These may include utilities like gas, electricity, and water, as well as internet, cable TV, and trash collection. You might also need to factor in the renter’s insurance and potential parking fees.
Essential Living Expenses
In addition to housing, remember to consider essential living expenses in your budget. These include food, transportation, health insurance, and childcare.
In addition, we advise our readers to put aside about 15-25% of their net income for savings. Accounting for these factors ensures you don’t stretch your budget to the limit solely on rent.
Discretionary spending
While you need to cover essential living expenses, it’s also important to allocate funds for discretionary spending – we call it FUN spending.
This category involves non-essential purchases like eating out, entertainment, vacations, and shopping. Using the 50/30/20 rule as a guideline, 30% of your net income can be put towards these wants, allowing you to enjoy your income while staying financially sound.
Factors Influencing Rent Affordability
Many factors impact how much you can spend on rent. As such, this will vary from person to person as situations vary. While these numbers are gross income, you need to realize the amount of money coming out for taxes. Many people don’t understand gross income vs net income.
Furthermore, the cost of living and rental prices in your chosen location can greatly impact how much you can afford. So, use the rent affordability calculator!
Location and Rent Prices
The location of a home greatly influences its rent prices. HCOL vs LCOL is a real thing!
Proximity to the city center, schools, parks, and shopping centers typically equate to higher costs. For example, renting trends in 2023 indicated an increase in prices the closer you get to these amenities.2
By choosing to live a bit further out, you may be able to find more affordable rent payments.
Areas with higher crime rates will have lower rents but these tend to come with more issues.
Size and Type of Housing
The size and type of your dwelling can also significantly affect your rent. Large houses with multiple rooms naturally cost more, whereas smaller apartments or studios are less expensive.
The type of housing also plays a role; for instance, a modern, furnished apartment might cost more than an unfurnished one. Tailoring your choice to your needs and budget allows for comfortable living without overspending.
If you have a pet, don’t forget it may cost more plus you have a pet deposit.
Lease Length Considerations
Lease length can directly impact your rent. Longer leases often equate to lower monthly rents, offering landlords a sense of security. On the contrary, short-term or month-to-month leases typically come with a higher price tag due to their inherent flexibility.
Assess your personal situation and potential need for flexibility before deciding on the lease term.
Also, the amount you need to put down as a security deposit can be negotiated.
Tips to Maximize Your Rent Budget
Plan your budget carefully taking into account factors like income, potential expenses, and the cost of living in your chosen location. So, if you are thinking $5000 is enough to move out, you may be surprised.
Use the 30% rule as a guide but be aware that in high cost of living areas, you may need to adjust this percentage. When searching for a rental, compare the cost and amenities of different apartments in your preferred areas and see if there are nearby neighborhoods with cheaper rental costs.
Also, you may need to embrace cost-saving measures such as cooking at home and shopping frugally to free up more income for rent.
You can learn more about those areas on our site.
Tip #1 – Reducing Costs and Saving
There are several ways to reduce housing costs and save more in this tough rental market.
Consider downgrading to a smaller place or moving to a less expensive area.
Negotiate a longer lease term for a reduced monthly rent.
Maybe even consider becoming a permanent housesitter to free up your budget.
Small changes can lead to substantial savings over time.
Learn how to budget on a low income.
Tip #2 -Planning for Future Rent Increases
Each year when your lease is about to renew, always factor in the possibility of future rent increases, which could be influenced by trends in the real estate market and inflation.
Ensuring your income can keep up with these increases is necessary for maintaining affordability. Continually reassess your rent affordability, especially during annual lease renewals or job changes.
Tip #3 – Get Roommates
Sharing your space with a roommate is a practical way to cut down on your living expenses substantially. By having one or more people to share the rental costs, utilities, and even groceries in some instances, you are likely to free up a considerable portion of your budget.
However, it’s important to clearly set boundaries and expectations to maintain a smooth living arrangement.
FAQ on Rent Affordability
Spending more than 30% of your income on rent is generally not advisable. It risks leaving you cash-poor, having insufficient resources for other important expenses like groceries, utility bills, health expenses, retirement savings, or emergency funds.
However, in certain scenarios like living in high-cost areas or prioritizing proximity to work (thus lowering your need for a car), bending the rule temporarily might be justifiable. Always reassess your budget to account for flexibility.
Yes, an increase in your hourly wage can slightly affect the amount of rent you can afford. The raise translates to an increased monthly income, which may enable you to comfortably afford higher rent.
However, it’s important to ensure this does not erode financial stability because lifestyle creep is real. Aim to maintain the key balance between comfortable living and responsible saving.
It’s recommended to reassess your rent affordability annually or when there’s a significant change in your financial situation.
Such changes could be a raise or decrease in income, new financial obligations, or plans to save for major future expenses. Regular evaluations ensure your housing budget aligns with your current financial realities.
Is $22 an hour a livable wage?
Given the average rent in the United States is $1702, $22 an hour is not a livable wage, especially in San Francisco or New York. As such, the maximum you should be spending on rent is $1144.
If workers are unable to afford to live in the communities they work in, it puts the whole system under stress. While there have been movements to create low-income housing, it is slow to happen and for many, difficult to apply.
Ultimately, whether this wage allows for a comfortable lifestyle depends largely on your financial habits, commitments, and where you live.
With good financial planning, including a solidly crafted budget that factors in rent, savings, and living expenses, a $22 hourly wage can indeed cater to a decent lifestyle.
Remember to reassess your budget regularly and adjust as necessary to meet changing financial landscapes.
Making wise financial decisions now can lead to a financially secure future. Now, do you have the habits needed to be financially stable?
Source
FiftyThirtyTwenty. “About.” http://fiftythirtytwenty.com/about.html. Accessed January 3, 2024.
Rent. “Rent Growth in Half of Suburbs Outpacing Metro’s Core City.” https://www.rent.com/research/suburban-growth-outpacing-core-city/. Accessed January 3, 2024.
Rent Cafe. “Average Rent in the U.S.” https://www.rentcafe.com/average-rent-market-trends/us/. Accessed January 3, 2024.
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“America’s Finest City” has a price-point, and amenities, that live up to its nickname.
The eighth-most populous city in America, San Diego typically ranks around the same for the cost of living compared to other major cities in the country. Overall, San Diego’s cost of living comes in at 44 percent above the national average.
While that may seem steep, it’s important to realize that within this expensive city, there are plenty of pockets where the cost of living is more affordable. San Diego residents may already know where to look, but it’s something you can calculate, too. It’s all about understanding the price, and whether your expenses are still affordable in the city.
Below, we break down the five factors affecting the cost of living in San Diego to help you discover if “America’s Finest City” is a fit for you.
1. Housing costs and utilities in San Diego
Housing in San Diego doesn’t come cheap. In fact, the uninitiated may experience sticker shock at first glance when it comes to home prices.
Overall, housing costs are a whopping 115.6 percent higher than the national average. This is only slightly below the housing costs in Los Angeles and Orange County, and considerably higher than most California cities.
The average rent for a one-bedroom apartment in San Diego is about $2,887 per month, which is a 1 percent decrease in cost over last year. A two-bedroom is around $3,788 per month on average, a 1 percent increase over last year. Those prices fluctuate depending on the neighborhood and amenities.
If you’re looking to buy a home, the median price in San Diego is $930,000. Home prices are up 3 percent over last year. Most homes in San Diego sell within days, so if you have the means, you need to act fast.
To better understand how housing costs in San Diego compare to the rest of California, the average cost for a two-bedroom apartment in San Francisco is $4,939, over $1,151 more. The average home price in Los Angeles is $975,000, $45,000 more. The San Diego cost of housing may feel high, but it’s definitely not the highest in the state.
Apartment hunting around San Diego County
Although San Diego is an expensive city, prices vary greatly based on the neighborhoods you decide to check out. The difference in living expenses between a more expensive San Diego spot, and the least expensive, is pretty significant.
Trendy North Park, with its vibrant restaurant and nightlife scene, is an expensive neighborhood in the city, with one-bed rental prices at $2,300 per month on average. But, rest assured, there are plenty of areas offering apartments for a fraction of that price.
Case in point, City Heights, located inland and to the east of many better-known San Diego communities, offers one-bed apartments for an average rent of $1,700. Areas like Colina del Sol and Paradise Hills are also on the more affordable side, with one-bed rents averaging the same at $1,650 a month.
Utilities in San Diego
San Diego is known for its beautiful weather. Average temperatures hover around 76 degrees Fahrenheit for most of the year, but you’ll still feel some seasonal change, lots of rain and the occasional cold front.
If you live inland, summer days are scorchers, leading locals to crank up that air conditioning. On the flip side, some nights in the winter get really cold. As a result, a person could pay a hefty price for AC and heat.
Taking this into account, overall utility costs are 13 percent higher than the national average. This is an actually a increase over last year, where this particular piece of the cost of living in San Diego was 10 percent above the national average. Inflation has contributed to this number for every state.
2. Food costs and goods and services in San Diego
San Diego is famous for its diverse culinary scene. Whether you’re more inclined to try a pasta dish in Little Italy, some chile rellenos at an authentic Mexican restaurant in Old Town or fish tacos, a local favorite, you can find a deal on a meal just about anywhere. However, when it comes to casual dining, meals average out to around $25 per person.
Of course, most people don’t eat out all the time. With dozens of quality supermarkets and plenty of neighborhood farmer’s markets, meal planning and finding a deal on food is easy.
Keep in mind that groceries in San Diego run 10 percent higher than the national average. You’ll pay extra for certain staples like milk ($2.17 for a half-gallon), eggs ($4.85 for a dozen), bread ($3.63 for a 24-ounce loaf) and ground beef ($8.08 per pound).
Commodities and entertainment costs
As you tally up expenses in your cost of living calculator, don’t forget to budget for goods and services. This includes all the extras on your monthly expense sheet that you could live without, but really don’t want to deny yourself.
This category includes things like a session at a yoga studio ($24), movie tickets ($12.5 each), dry cleaning ($24) and a trip to the beauty salon ($80).
Overall, goods and services in San Diego cost 10 percent more than the national average, a slight dip of less than one percent over last year.
3. Transportation costs in San Diego
One of the many luxuries about life in San Diego is that the freeways are much calmer than those of Los Angeles. Traffic is tame during most hours of the day, although it gets a bit congested around common commute times. Still, transportation expenses are slightly higher than those in Los Angeles and 30.4 percent higher than the national average.
For any person who decides to use a car to get around the city, be prepared to pay to park. Parking can range from as little as $7 to as much as $32 based on parking type and whether you need to keep your car there overnight.
For those who choose to forgo driving altogether, San Diego offers an accessible public transportation system. The San Diego Metropolitan Transit System provides bus and trolley services across San Diego County, including a dedicated line for the University of California, San Diego.
Bus and trolley fares are the same. One way will cost $2.50, but you can purchase a day pass for $6 or a monthly pass for $72. Family weekends allow you to save a little on transportation. Up to two children, 12 and under, can ride free with a fare-paying adult.
If you just want to get around and enjoy life outside, San Diego’s layout makes it ideal for walking — it’s also convenient for bike enthusiasts. The city has a walk score of 53 and a bike score of 43.
4. Healthcare costs in San Diego
Healthcare is a primary concern in most people’s minds, and in San Diego, you can expect to pay slightly more in this category — about 7.2 percent above the national average. This is a slight dip in overall costs from last year.
Prices now are about 1.4 percent less. It’s also not the highest-priced city in the state by far. Los Angeles and most major cities in Northern California are higher than San Diego’s cost of living for healthcare.
A visit to a doctor will cost you about $145, while a dental checkup will run you around $120. You can also expect to pay a bit more for medications. For example, the median price for a bottle of Ibuprofen is about $13. When you factor in the maintenance appointments you’ll need each year, and your list of prescriptions, the price can add up.
Calculating average healthcare costs for everyone is difficult. Everybody has different needs for their body and healthcare routines vary drastically. As a result, you should consider your typical healthcare routines when creating your cost of living budget, factoring in your medicine regimens and insurance coverage.
5. Taxes in San Diego
Since taxes vary by location, it’s easy to get confused when it comes time to budget accordingly. Sales tax in San Diego is 7.75 percent. However, neighboring cities, where you may go shopping, can vary.
Live in San Diego, but prefer to shop in Oceanside? You’ll pay 8.25 percent in sales tax.
How much do I need to earn to live in San Diego?
Earlier, we discussed the fact that the housing piece to your cost of living in San Diego is quite a bit more than in other locations.
Experts generally recommend you allocate at least 30 percent of your annual income to rent, which means you should know the average salary that aligns with the average rent.
If a one-bedroom in San Diego is $2,879 per month, you’d need a job that pays at least $115,160 per year. You may have to consider a roommate or some creative living situation, given that the median annual income in San Diego is $89,457.
Although lower than what you’d need to pay the average rent, it’s not impossible to live comfortably. Our rent calculator can show you exactly how much you can afford and help you target specific areas within your budget.
Living in San Diego
San Diego is a wonderful place to live if you love warm beaches, temperate climates, great food and a lively club scene. It’s no wonder 35 million people visit each year and some of them end up living in San Diego after their vacation.
Whether those people choose to plant roots depends a lot on budget. What can you afford?
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of August 2023.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Inside: Ever wondered how much rent you can afford on a particular hourly wage? Use the rent calculator to see what you can afford on $17 an hour. Find out from the experts in this guide.
Honestly, this is something most people don’t think about until after they get themselves in a troubling situation.
Determining rent affordability is paramount in your financial planning. It’s important to strike a balance between comfortable accommodation and fiscal responsibility to avoid financial strains down the road.
There exists a direct correlation between your income and the rent you can afford to pay. Higher income opens doors to pricier accommodations while lower wages might enforce budget constraints. Understanding this relationship is crucial.
It guides your housing decisions and helps maintain a stable financial footing.
By calculating your rent affordability, you can set a clear budget, establish your housing needs, and navigate the real estate market with ease.
How much rent can I afford making $17 an hour?
If you make $17 an hour, based on a standard 40-hour work week, your gross income would come up to approximately $2,946 per month.
If you follow the 30% rule, this means you should allocate a maximum of $883 each month for rent.
$2946 x 30% = $883.80
However, remember this is a rough estimate and your specific expenses and financial obligations should also be taken into consideration before deciding on a rent budget.
What Percentage of My Income Should Go to Rent?
This is a good question to consider.
Even better when you are trying to figure out how much to save before moving out.
The 30% Rule Explained
The 30% rule is a simple guideline suggesting that one should allocate no more than 30% of their gross (before taxes) monthly income toward rent.1
This rule of thumb has been widely adopted as a measure of rent affordability. The beauty of the 30% rule lies in its simplicity and ease of use, allowing for quick budgeting while maintaining room for other essential expenses.
Be Conservative and Stick with 20%
According to Money Bliss budgeting percentages, adopting a more conservative approach to budgeting by allocating only 20% of your income towards housing costs can be more beneficial.
If you follow the 20% rule, this means you should allocate a maximum of $499 each month for rent.
$2946 x 20% = $499.20
This strategy helps to account for additional expenses such as utilities, unexpected repairs, and other costs that often accompany home ownership or renting.
This reduced allocation promotes being smart with your money to avoid unnecessary financial stress.
When to Consider Stretching the 30% Rule
At times, it might be necessary to stretch the 30% rule particularly in high-cost areas or during short-term situations. It’s crucial, however, to understand the potential ramifications and adjust other spending habits to compensate.
A temporary overshoot could be justifiable if it leads to significant future benefits, like proximity to a well-paying job. Always remember, that this should be an exception rather than the norm.
How Does the Rent Calculator Work?
A rent calculator is a practical tool that aids in estimating the rent you can afford. You don’t want to be forced to live on a shoestring budget.
This simple calculator is based on your hourly income and spending either 20-30% of your gross income on rent.
Fine-tuning your budget is possible by adjusting the percentage you wish to spend on housing. Remember, the final number serves as a guide and may require adjustments based on your financial situation.
Breaking Down Your Monthly Budget
For savvy budgeters, adhering to the 50/30/20 rule can provide a clear framework for managing your expenses and growing your savings. While at Money Bliss, we went a step further to define it as the 20-50-10-20-0 budget rule. (save-basic expenses-give-fun spending-debt).
This approach gives a precise breakdown of your monthly budget, ensuring that you are living within your means while also setting funds aside for future financial security.
Housing Costs
The basic 50/30/20 rule suggests dividing your monthly net income into 50% for necessities such as rent and groceries, 30% for personal wants like clothing or travel, and designating the remaining 20% for savings goals or debt repayment.
By adding these to your housing budget, you get a realistic picture of your monthly accommodation costs.
When budgeting for rent, one must account for other housing costs. These may include utilities like gas, electricity, and water, as well as internet, cable TV, and trash collection. You might also need to factor in the renter’s insurance and potential parking fees.
Essential Living Expenses
In addition to housing, remember to consider essential living expenses in your budget. These include food, transportation, health insurance, and childcare.
In addition, we advise our readers to put aside about 15-25% of their net income for savings. Accounting for these factors ensures you don’t stretch your budget to the limit solely on rent.
Discretionary spending
While you need to cover essential living expenses, it’s also important to allocate funds for discretionary spending – we call it FUN spending.
This category involves non-essential purchases like eating out, entertainment, vacations, and shopping. Using the 50/30/20 rule as a guideline, 30% of your net income can be put towards these wants, allowing you to enjoy your income while staying financially sound.
Factors Influencing Rent Affordability
There are many factors that impact how much you can spend on rent. As such, this will vary from person to person as situations vary. While these numbers are gross income, you need to realize the amount of money coming out for taxes. Many people don’t understand gross income vs net income.
Furthermore, the cost of living and rental prices in your chosen location can greatly impact how much you can afford. So, use the rent affordability calculator!
Location and Rent Prices
The location of a home greatly influences its rent prices. HCOL vs LCOL is a real thing!
Proximity to the city center, schools, parks, and shopping centers typically equate to higher costs. For example, renting trends in 2023 indicated an increase in prices the closer you get to these amenities.2
By choosing to live a bit further out, you may be able to find more affordable rent payments.
Areas with higher crime rates will have lower rents but these tend to come with more issues.
Size and Type of Housing
The size and type of your dwelling can also significantly affect your rent. Large houses with multiple rooms naturally cost more, whereas smaller apartments or studios are less expensive.
The type of housing also plays a role; for instance, a modern, furnished apartment might cost more than an unfurnished one. Tailoring your choice to your needs and budget allows for comfortable living without overspending.
If you have a pet, don’t forget it may cost more plus you have a pet deposit.
Lease Length Considerations
Lease length can directly impact your rent. Longer leases often equate to lower monthly rents, offering landlords a sense of security. On the contrary, short-term or month-to-month leases typically come with a higher price tag due to their inherent flexibility.
Assess your personal situation and potential need for flexibility before deciding on the lease term.
Also, the amount you need to put down as a security deposit can be negotiated.
Tips to Maximize Your Rent Budget
Plan your budget carefully taking into account factors like income, potential expenses, and the cost of living in your chosen location. So, if you are thinking $5000 is enough to move out, you may be surprised.
Use the 30% rule as a guide but be aware that in high cost of living areas, you may need to adjust this percentage. When searching for a rental, compare the cost and amenities of different apartments in your preferred areas and see if there are nearby neighborhoods with cheaper rental costs.
Also, you may need to embrace cost-saving measures such as cooking at home and shopping frugally to free up more income for rent.
You can learn more about those areas on our site.
Tip #1 – Reducing Costs and Saving
There are several ways to reduce housing costs and save more in this tough rental market.
Consider downgrading to a smaller place or moving to a less expensive area.
Negotiate a longer lease term for a reduced monthly rent.
Maybe even consider becoming a permanent housesitter to free up your budget.
Small changes can lead to substantial savings over time.
Learn how to budget on a low income.
Tip #2 -Planning for Future Rent Increases
Each year when your lease is about to renew, always factor in the possibility of future rent increases, which could be influenced by trends in the real estate market and inflation.
Ensuring your income can keep up with these increases is necessary for maintaining affordability. Continually reassess your rent affordability, especially during annual lease renewals or job changes.
Tip #3 – Get Roommates
Sharing your space with a roommate is a practical way to cut down on your living expenses substantially. By having one or more people to share the rental costs, utilities, and even groceries in some instances, you are likely to free up a considerable portion of your budget.
However, it’s important to clearly set boundaries and expectations to maintain a smooth living arrangement.
FAQ on Rent Affordability
Spending more than 30% of your income on rent is generally not advisable. It risks leaving you cash-poor, having insufficient resources for other important expenses like groceries, utility bills, health expenses, retirement savings, or emergency funds.
However, in certain scenarios like living in high-cost areas or prioritizing proximity to work (thus lowering your need for a car), bending the rule temporarily might be justifiable. Always reassess your budget to account for flexibility.
Yes, an increase in your hourly wage can slightly affect the amount of rent you can afford. The raise translates to an increased monthly income, which may enable you to comfortably afford higher rent.
However, it’s important to ensure this does not erode financial stability because lifestyle creep is real. Aim to maintain the key balance between comfortable living and responsible saving.
It’s recommended to reassess your rent affordability annually or when there’s a significant change in your financial situation.
Such changes could be a raise or decrease in income, new financial obligations, or plans to save for major future expenses. Regular evaluations ensure your housing budget aligns with your current financial realities.
Is $17 an hour a livable wage?
Given the average rent in the United States is $1702, $17 an hour is not a livable wage, especially in San Francisco or New York. As such, the maximum you should be spending on rent is $883.
If workers are unable to afford to live in the communities they work in, it puts the whole system under stress. While there have been movements to create low-income housing, it is slow to happen and for many, difficult to apply.
Ultimately, whether this wage allows for a comfortable lifestyle depends largely on your financial habits, commitments, and where you live.
With good financial planning, including a solidly crafted budget that factors in rent, savings, and living expenses, a $17 hourly wage can indeed cater to a decent lifestyle.
Remember to reassess your budget regularly and adjust as necessary to meet changing financial landscapes.
Making wise financial decisions now can lead to a financially secure future. Now, do you have the habits needed to be financially stable?
Source
FiftyThirtyTwenty. “About.” http://fiftythirtytwenty.com/about.html. Accessed December 23, 2023.
Rent. “Rent Growth in Half of Suburbs Outpacing Metro’s Core City.” https://www.rent.com/research/suburban-growth-outpacing-core-city/. Accessed December 23, 2023.
Rent Cafe. “Average Rent in the U.S.” https://www.rentcafe.com/average-rent-market-trends/us/. Accessed December 23, 2023.
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