Whether you’re dreaming of beaches in the Caribbean or roaming the streets of Paris, one thing’s for sure: Traveling is expensive. Factor in the cost of flights, food, and lodging, and it’s no wonder some people feel like traveling is reserved only for the rich and famous.
The good news? Traveling doesn’t have to break the bank. Saving enough money for your next holiday is totally doable, and it all starts with proper budgeting for travel. With a defined vacation budget and some planning, you could request time off for travel sooner than you think. Here’s how to do it.
How to build a travel fund
Before you start booking plane tickets and buying museum tickets, you’ll need to determine what’s realistic for your current financial state, according to Athena Valentine Lent, author and founder of Money Smart Latina. If this is your first time budgeting for travel, Lent says these three steps can help you get started:
1. Set a savings goal for your trip
Budgeting for travelstarts with identifying where you want to go and calculating the total amount of money you’ll need to cover that trip.
“Decide where you’d like to go, and start from there,” Lent says. “Research the best times to visit your travel destinations, so you can take advantage of any off-peak seasons. If you’re unable to visit during that time, consider another place.”
In addition to researching prices of big-ticket items like airplane tickets, Lent recommends researching all potential expenses to paint an accurate picture of your total cost. “Look into how much you’ll pay for lodging, food, transportation to get there—plus transportation while there—and any other exhibits or bucket items you want to check off while you’re there,” she says.
Vacations can and should include plenty of spontaneity, so Lent recommends giving yourself some extra wiggle room in your travel fund to cover other possible expenses (think: last-minute excursions and souvenirs). As you continue to plan, creating a financial vision board can help you visualize your dream vacation and keep you motivated during your savings journey.
2. Turn one big goal into multiple smaller goals
Once you’ve established how much your trip will cost, determine the amount you need to save on a monthly, bi-weekly, or weekly cadence until you can fully fund your goal, Lent says. For example, if you’ve figured out that you need $1,000 for a trip coming up in five months, you’d want to save $200 a month. Or if you wanted to break it up into even smaller chunks, you could have a savings goal of $50 a week.
Breaking your goal into smaller steps makes it appear more manageable, Lent says. Saving $200 a month feels much more attainable than trying to put away $1,000 all at once. Psychologically, splitting up a large goal into multiple smaller ones gives you a sense of accomplishment every time you cross one of your funding milestones.
3. Keep your travel fund in a separate savings account
There are ways to make your money work harder for you. With a high-yield savings account, you’ll earn a specific percentage of interest on your money, known as an annual percentage yield (APY). That interest is compounded, too, so you’ll grow your savings even faster.
Keeping your travel fund in a separate savings account is another helpful strategy. It can streamline your efforts, making it easier to track progress and know exactly when you’ve reached your goal.
“I love me a high-yield savings account,” Lent says. “The ability to put cash aside into a different account labeled with a goal motivates me to call it ‘my precious’ and protect it. I’m also a firm believer in making your money work for you.”
Tips for keeping your travel fund on track
Making a plan and budgeting for travel is a critical first step, but if you want to make your dream vacation a reality, you’ll need to stay on track. To keep your momentum going, consider these four tips for how to save money for travel:
1. Curb your spending habits
Looking for some low-hanging fruit? Lent says to try reducing nonessential spending first. While that might mean spending less money on things like dining out or new clothes, it doesn’t mean you need to live like a hermit to achieve your financial goal.
“Cutting back on your discretionary spending can seem brutal when all you want to do is live your current lifestyle,” says Lent. “My advice is to cut spending in small amounts at first and then look for cheaper ways to do the things you want to do. As you begin to cut back while still doing the things you love, you won’t be depriving yourself, which makes it easier to stick to your budget.”
2. Take advantage of freebies and discounts
Just because you’re budgeting for travel doesn’t mean you have to give up on fun entirely. These days you can find coupons or discount codes for almost any activity, from festivals and sporting events to restaurants and bars. “For example, if you want to go to a concert, look for it on a group coupon site,” says Lent. “Plan on drinking with friends? Ask your friends to check out a happy hour with you.”
There are also plenty of ways to have fun without spending money. Look no further than your local community for meetup groups, free museum or zoo days, or music nights hosted by your city or town. Depending on where you live, getting out into nature is often free, and many national parks even offer free entry on certain days. Entertaining yourself doesn’t have to be expensive – finding no-cost alternatives will enable you to put even more money away in your travel fund.
3. Hack your way to savings with a cashback credit or debit card
Another way to make your travel dreams come true is to use credit card rewards in a process known as “travel hacking,” Lent says. Some credit card providers will give you points or cash back on a percentage of the money you spend overall or in certain categories like food, travel, or gas. If you want to use these credit card rewards for travel, however, Lent recommends paying off your credit card debt each billing cycle.
Some banks also offer cash back when you spend with your debit card. For example, with Discover® Cashback Debit, you can earn 1% cash back on your debit card purchases1 and put that extra cash toward building up your travel fund.
Earn cash back with your debit card
Discover Bank, Member FDIC
4. Consider a side hustle
If you feel like you’re not making as much headway as you’d like on your travel fund, you might want to explore some side hustle ideas to earn extra income. Side hustles can range from freelance projects on the weekend to driving for a ride-sharing company.
Pursuing a side hustle isn’t for everyone, but if you have the time and ability to take on additional work, Lent says, you can use the extra cash to fund your travels without dipping too much into your primary source of income.
Your next vacation is one travel fund away
Planning a vacation can be intimidating, especially once you start calculating how much everything will cost. But just like any financial goal, saving money for travel is doable if you have a clearly defined budget and stick to your plan.
Take Lent’s advice: If you want to know how to save money for traveling, determine where you want to go, research how much it’ll cost, and break your savings goal into manageable chunks. You’ll be jet-setting off to your next adventure in no time.
If you’re ready to build your travel fund and make your vacation dreams a reality, check out the features of a Discover Online Savings Account to see how it can keep your travel savings safe and growing over time.
Articles may contain information from third parties. The inclusion of such information does not imply an affiliation with the bank or bank sponsorship, endorsement, or verification regarding the third party or information.
1 ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), online sports betting and internet gambling transactions, and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo® and PayPal®, who also provide P2P payments) may not be eligible for cash back rewards. Apple Pay® is a trademark of Apple Inc. Venmo and PayPal are registered trademarks of PayPal, Inc. Samsung Pay is a registered trademark of Samsung Electronics Co., Ltd. Google, Google Pay, and Android are trademarks of Google LLC.
As couples prepare holiday marriage proposals, Northwestern Mutual study finds 1 in 3 Americans believe serious discussions about financial dreams – and debt – should happen in the early stages of dating Almost half of Gen Z say financial compatibility is more important than physical compatibility MILWAUKEE, Dec. 5, 2023 /PRNewswire/ — December is, by … [Read more…]
Renting after eviction may seem daunting, but it’s not impossible. Yes, getting evicted is a terrible experience to deal with and a frustrating process to handle afterward. It’s something everyone fears and when it happens, you’re left wondering what the process of renting after an eviction is like.
While starting to find a new apartment after getting an eviction notice is a daunting process, it’s not impossible. With the right knowledge and preparedness, renting after eviction will be much easier. Don’t let an eviction weigh you down — we’ve got you covered with useful information so you’ll be renting after an eviction in no time.
Things to do if you’ve been evicted
If you’ve been evicted and are now ready to begin searching for a new space to rent, there are some things you should consider that will help make the process easier. Here are 10 tips for renting after an eviction.
1. Work on your credit score before renting after eviction
Your credit and legal history are two separate records, but when applying for a new place to rent, they become intertwined. An eviction won’t show up on a credit report itself but it will show up on a background check. Almost all landlords or apartment complexes will require a background check as part of the rental application process. So, if you have a past eviction, the landlord will almost certainly see it on your background check.
So how does that impact your credit score? We mentioned an eviction won’t show up on the credit report, but, if a previous landlord sent unpaid rent information to a collection agency or if your landlord sued you in court and won, this will all negatively impact your credit score. If you’ve been evicted, you need to work to improve your credit score so you can use a high score to advocate for yourself when going to rent a new property.
Start by paying off outstanding debts and paying future bills on time. A good credit score can make or break your ability to rent an apartment in the future.
2. Be honest
When people say “honesty is the best policy,” they mean it. It’s always best to share upfront with a possible future landlord about your past eviction notice — honesty is the best policy. Renting after an eviction is already hard enough and you don’t want to make it harder by having your future landlord find out you lied or withheld the truth. If they ask about your previous eviction you can simply explain the situation that led to your eviction.
Sometimes, the landlord will be more willing to work with you after hearing your side of the story.
3. Look at renting from a private party
Renting from a private owner as opposed to an apartment complex is always an option for those with eviction notices on their records. Because they’re renting the space privately they don’t have to work within the guidelines and restrictions that a regular apartment complex does. Because of this, they might be more willing to work with you and your situation. As mentioned above, be as open and honest with them as possible so they can fully understand your situation.
4. Pay more upfront
There are two ways to really get a person to help you out — buy them food or give them money. When looking for a place to rent, try and offer more money upfront. If you have the means, offer to pay a higher security deposit or two months’ rent upfront. This way the landlord knows you’re serious about renting and paying on time.
5. Get a co-signer
Getting a co-signer is another idea to explore while trying to rent after an eviction. If you know someone who is willing to and has good credit, ask if they’ll co-sign. Doing this might make the landlord more inclined to rent to you. But, keep in mind that if you don’t pay, your co-signer will have to.
6. Try and clear your record
An eviction stays on your record for seven years. That being said, there are some ways to clear your record sooner. If you’ve paid off any outstanding rent debts, reach out to your previous landlord and ask them to remove the eviction from your record.
If you haven’t yet been able to pay off an outstanding rent debt, still talk to your previous landlord. Ask them if you are able to pay off your rent if they’ll consider removing your eviction.
7. Refine your search renting after eviction
When searching for an apartment, refine your search and filter for apartments that either don’t do background checks or that accept applicants with previous evictions. By doing this you won’t waste your time looking at places guaranteed to turn you down.
8. Find the right references
Because renting after eviction is a tough road, you should have a lot of references ready before applying to rent an apartment. Because evictions are sometimes seen as a character flaw, you’ll want a reference to point out your good character traits.
Get friends, employers or colleagues to write letters speaking to your character and what a great tenant you’ll make. Submit these letters along with your rental application so that the landlord can read them and get a better sense of who you are and how you’ll be as a potential tenant.
9. Get a letter of credit when renting after eviction
Your goal when renting after an eviction is to get the landlord to understand what happened and still rent to you. Writing a letter of credit is a great start on this process. Write up your previous credit history and how you’ve changed. Tell them if you’ve gotten a new job or how you’re planning on doing things differently this time around.
10. Make a good first impression
First impressions last for a long time. When meeting with the landlord, dress nice and wear something that says you’re a reliable renter. Be polite and positively engage with them whilst speaking. You want to leave with them thinking you’re the best person to rent to. By doing this, they might be more willing to work with you and your situation.
Home sweet home
Being evicted is an extremely difficult moment to go through. And then on top of that, renting after eviction is a hard task. It takes time, effort and energy, but fear not it can be done. Using the knowledge and tips listed above you’ll be able to better prepare yourself for this daunting task.
Make sure to gather all the appropriate documents and references with you when going to meet with your potential new landlord. Tell them your story and appeal to their hearts. While it may seem like your past is still haunting you, there is hope that you’ll be able to find a new place to call home.
Ashley Singleton is a writer who loves following and writing about current lifestyle, DIY and home improvement trends. You can read some of her other work on the Lady Spike Media website. In her spare time, she performs stand-up comedy in Los Angeles.
Today’s guest, Christian Koenig, has perfected his system for converting paid leads from Zillow. On average, he spends $20k per month on real estate leads and converts at a rate that generates $40k in commissions—a $20k profit! Tune in for tips on getting the most out of Zillow leads, including which zip codes to purchase and where to start with your budget. Christian also shares his highest converting script and a simple strategy for maximizing your speed to lead.
Listen to today’s show and learn:
About Christian Koenig [2:02]
Christian’s start in real estate [3:02]
Christian’s thoughts on open houses [6:01]
Where Christian started with paid real estate leads [7:30]
Budgeting for buyer and seller leads [12:10]
Sustaining your ad spend for at least six months [14:20]
How to pick a zip code for Zillow leads [17:40]
Considerations to make before committing to Zillow leads [22:52]
The importance of consistent speed-to-lead practices [26:48]
How Christian increased his Zillow budget over time [28:32]
Where to cap your ad spend as a solo agent [33:42]
The two types of Zillow leads [35:56]
What Christian nets from Zillow leads right now [36:55]
Christian’s future plans for cold leads [39:42]
Tips for converting leads as soon as they come in [43:25]
A quick, simple script for setting appointments consistently [46:58]
Christian’s budget spreadsheet for real estate agents [51:05]
When doing everything on your own stops making sense [54:57]
Where to find and follow Christian Koenig [57:51]
Christian Koenig
North Philadelphia born and raised, on the BMX track is where Christian spent most of his days. All jokes aside, he is originally from North Philly and brought up in an entrepreneurial, hardworking household. Joining the United States Air Force at 18 sent Christian to Texas for basic training and then on to Langley Air Force Base in Hampton, VA for six years. He crewed F-22 Raptors for the 27th Fighter Squadron with some of the most talented mechanics he has ever met. Being a part of that team and seeing the process of bringing the first fifth generation fighter jet to combat ready status is something that Christian holds very close. He spent two of those six years as part of the USAF F-22 Demonstration Team traveling the world and showcasing Air Superiority at air shows to millions of spectators. His respect and dedication to serve those that came before him in the military drive him to excel each and every day.
After leaving the Air Force in 2012, Christian began working for a defense contractor on the west coast manufacturing explosives and assembling defense missiles. That led to a position within the quality control department and soon he was the lead inspector specializing in three-dimensional scanning technology for the company. Christian spent the next four years working closely with their research and development departments bringing in new technology to stay ahead of their competitors while increasing quality control. His dedication to craft and constant attention to detail lead in everything he does.
Christian was introduced to the amazing Idaho lifestyle in 2012. As an avid outdoorsman, there is, in his opinion, no better place to call home. Each season offers a unique way to enjoy the outdoors. Saving the best for last, Christian’s beautiful wife is the driving force in his life that keeps him grounded. They have two incredible children and spend their off hours keeping them entertained along with their German Shepherd, Ivy.
Related Links and Resources:
It might go without saying, but I’m going to say it anyway: We really value listeners like you. We’re constantly working to improve the show, so why not leave us a review? If you love the content and can’t stand the thought of missing the nuggets our Rockstar guests share every week, please subscribe; it’ll get you instant access to our latest episodes and is the best way to support your favorite real estate podcast. Have questions? Suggestions? Want to say hi? Shoot me a message via Twitter, Instagram, Facebook, or Email.
Inside: Are you finding yourself struggling to cover unexpected expenses? This guide will teach you how to create a financial plan and budget that will help you avoid costly surprises.
Life is full of surprises, and not all of them are pleasant. Sometimes, these surprises come in the form of unexpected expenses, hitting when one least expects them.
This can leave you devasted financially. Over the years, we have been slapped with unplanned costs and left scrambling.
However, you can successfully navigate through the rollercoaster ride of money management.
The key is knowing “What are unexpected expenses?’ Along with the knowledge equips you to avoid or mitigate them.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What are Unexpected Expenses?
In the realm of personal finance, unexpected expenses are costs you haven’t foreseen or budgeted for. They strike out of nowhere, leaving you scrambling to balance your finances.
These expenses differ from other cost categories such as fixed expenses (weekly, monthly, and recurring costs like rent) and variable expenses (those that do not happen regularly but vary in cost like groceries).
The crux lies in not being able to anticipate these unplanned expenses, making them disruptive to financial plans.
What is an example of unplanned spending?
Unplanned spending often occurs when there’s an unforeseen event that demands immediate financial attention.
Picture this scenario: You take your car for a routine inspection; however, the car fails the inspection due to a defective part that needs immediate repair. Initially, you hadn’t allocated funds for this, but now you have to deal with this unforeseen cost – a classic case of unplanned spending.
Common Examples of Unexpected Expenses
Unforeseen financial events can leave many unprepared and struggling, adding unnecessary stress. This section will delve into examples of typical unexpected expenses that individuals often encounter, providing key insights into how to efficiently incorporate these into your financial plan.
By understanding and preparing for these unexpected expenses, one can effectively mitigate the surprise factor they pose, promoting a healthier and more secure financial state.
We have overcome many times and you can too!
1. Medical Emergencies and Healthcare Costs
Medical emergencies are prominent examples of unexpected expenses. Even with health insurance, costs can amass, thanks to high deductibles, co-payments, and therapies not covered by insurance.
One factor is paying for the medical costs, but the other weighing factor is loss of income when dealing with medical emergencies or critical diseases like cancer.
Overcome this by:
Contributing the max each year to your Health Savings Account (HSA). This way you have a bucket of money just for medical expenses.
Look into short-term disability insurance that can cover part of your lost wages while you can’t work.
2. Automatic Home or Vehicle Repair Needs
Home and vehicle repairs often sneak up as unexpected expenses. Time, accidents, natural disasters — all can cause wear and tear that demands immediate repair. The consequences of ignoring these repairs can be hefty.
Similarly, significant home repairs such as fixing a faulty HVAC system or leaky roof can set you back by thousands of dollars.
Overcome this by:
Be proactive with routine maintenance. Take care of your house and car before problems escalate.
Save the same amount each month for home and vehicle repairs separately.
Personally, we save $100 monthly for car repairs as one is a beater car. This amount will be increased to $350 to start saving for a new car. Conversely for home repairs, we keep a minimum of $1000. This amount will fluctuate depending on when we last did a major repair. Since we just replaced our HVAC, our funds are lower.
3. Natural disasters
Natural disasters, such as hurricanes, earthquakes, wildfires, and floods, lead to unexpected spending. The impact of these events can cause significant damage to homes, cars, and other property, leading to repair and replacement costs.
Furthermore, these situations might also necessitate expenses for emergency supplies, temporary shelter, and other necessities. For instance, Hurricane Katrina inflicted a staggering $196.3 billion in damage, illustrating the overwhelming cost of such unpredictable events.1
Overcome this by:
Make sure you have proper insurance whether it is renter insurance or flood/wildlife insurance. Also, make sure you have the proper amount of insurance. As highlighted by the Marshall Fire where most people were underinsured. 2
Storing cash on hand at home in case of an emergency. A cushion of money will always be helpful.
4. Increase in Bills
Monthly bills are a constant in our lives, but what’s not constant is their amount. Landlords may raise the rent when leases are up for renewal, utility companies could increase their rates, and insurance premiums may also inflate periodically.
All these scenarios lead to higher monthly expenses. For example, the U.S. energy costs per household rose by 13% in 2022 reaching the highest percentage increase since it was measured. 3
Being unprepared for these increases can cause significant financial strain.
Overcome this by:
Get one month ahead on your bills. Then, you will start building a cushion. Also, known as aging your money – thanks to YNAB.
Be proactive and realize that with inflation high. All of your bills will likely increase in cost.
YNAB
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Offers expert advice, making it suitable for those who require an in-depth, forward-thinking budgeting strategy.
Superior synchronization skills make it the winner in this area.
YNAB has extra features like goal setting for budgeting, shared budgeting tools for partners.
Option to manually add and upload transactions from accounts each month.
YNAB prioritizes user privacy.
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5. Overlooked Taxes
Overlooked taxes pose another source of unexpected expenditure.
A higher than expected tax bill can indeed surprise and unbalance your budget. This happened to my friend when she started her own fitness coaching business.
Uncertainties in estimating the exact tax amount, mathematical errors in filing, or an overlooked quarterly tax payment often culminate in an escalated tax bill. An audit from the IRS, though it may find no additional taxes owed, can lead to expensive fees from a CPA or tax attorney.
Overcome this:
Use a tax calculator to know what your estimated tax payment due.
Understand the common reasons you may owe higher taxes this year.
6. Pet Emergencies
Pet emergencies can bite a large chunk out of your budget without warning. For instance, if your cat suddenly starts having seizures or your dog gets hit by a car, the medical costs associated can spiral rapidly.
Emergency vet care can range between a few hundred dollars to several thousand dollars. For instance, a poisoning can range from $200-$3000. 4
Overcome this by:
Prevention methods like pet insurance can help you manage these costs effectively.
Decide in advance the maximum you are willing to spend on emergency vet care.
7. Delayed payments
Delayed payments may not be an external expense, but the repercussions can be just as financially challenging. This affects your income stream, potentially leading to difficulty in managing your financial obligations.
For example, if an employer goes bankrupt, salaries might be delayed or even indefinitely withheld. According to research, late payments can cost businesses $3 trillion globally, affecting both personal financial planning and business operations.5
This is a highly stressful situation.
Prepare yourself financially by:
Aging your money. By getting one month ahead of your bills, you can scrap through a delayed payment. YNAB coined this term.
Start saving for a large rainy day fund.
Raisin
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8. Gifts and Special Occasions
Commemorating special occasions can lead to unexpected expenses. Life events such as birthdays, weddings, baby showers, and retirements, traditionally require gift-giving.
While typical gift giving on Christmas or birthdays should be part of your planned variable expenses. Saying yes to being a bridesmaid can definitely set you back a few thousand dollars. These are costs that we often fail to factor into our budgets.
Overcome this by:
Setting aside money monthly to cover gifts and special occasions.
If saying yes to a special event will hamper your finances, then you may have to politely decline the invitation.
9. Unexpected Travel Costs
Unexpected travel costs can significantly impact your budget, particularly when they arise from unplanned events such as attending a funeral or a wedding. The costs of last minute travel can vary widely depending on the destination, distance, and mode of transportation.
To manage these expenses, consider driving or taking public transportation for shorter trips, exploring less expensive lodging options, and creating a meal plan that limits dining out.
Overcome this by:
Setting aside a regular amount in a travel fund can help prepare for these unexpected costs that tend to crop up every year.
Decide if taking the unplanned trip is something you can feasibly manage with your current financial situation.
10. What You Forget to Budget for
Some subtle but regular expenses often sneak past our budget plans. This is why we have a full list of budgeting categories so hopefully, you don’t miss anything!
Consider online subscriptions and memberships: Many services offer free trials, but the charges kick in if not canceled. Other overlooked budget items may include pet care, parking fees, and toll fills—small amounts that may seem insignificant but can considerably dent your budget over time.
Overcome this by:
Review your checking account and credit card bills to see all of your expenses for the past year. Write down those unexpected expenses that came through.
Now, make a plan for how to spend your money in advance with your findings.
This helps you prepare for unexpected expenses
Here are simple tips to make sure you employ the habits of a financially stable person.
Tip #1 – Building an Emergency Fund
Building an emergency fund is a fundamental strategy to brace for unexpected expenses. This fund acts as a financial buffer, providing the economic security to cover unexpected costs without tapping into monthly budgets or savings aimed at other goals.
As a starting point, aim to save $1000 and then work your way up to save a month’s paycheck. Start small and build over time – every penny set aside helps to mitigate future financial stress.
Tip #2 – Properly Utilizing Sinking Funds
Sinking Funds are a sagacious tactic to prepare for larger, infrequent expenses. They allow you to systematically and gradually save up for anticipated financial obligations such as vacations, holiday gifts, car maintenance, etc.
By assigning a specific amount to save each month, by the time the need arises, you’ll have a pool of money ready. With platforms like YNAB, creating sinking funds becomes easier, letting you monitor your progress month by month.
This is how we have less frequent unplanned costs than we did in our 20s.
Tiller Money
Your financial life in a spreadsheet, automatically updated each day.
Tiller is the fastest, easiest way to manage your money with the unlimited flexibility of a spreadsheet.
Update your finances in one place, so you can take control of spending, optimize cash flow, and confidently plan your financial future.
Pros:
Tiller automatically updates Google Sheets and Microsoft Excel with your latest spending, balances, and transactions each day.
No more tedious data entry, CSV files, or logging into multiple accounts.
You can customize everything and finally track your money, your way.
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Tip #3 – Saving for the Larger Rainy Day
Beyond smaller emergency funds and sinking funds, saving for the ‘larger rainy day’ is a crucial tactic to avoid financial duress caused by unexpected expenses. This refers to padding your savings to cover larger, more substantial financial shocks that might require more than just a few months’ worth of expenses.
It may take time to build such a fund, but even a small contribution each month can result in substantial savings over time.
Tip #4 – Pick up a Side Hustle
One way to strengthen your financial resilience against unplanned expenses is to start a side hustle. This could mean picking up extra shifts at work, selling handcrafted items online, or using skills like photography or writing for freelance work.
With the rise of the internet, making money online is really easy and simple to get started. We have a few side hustles to shield against unforeseen costs.
Tip #5 – Budget Properly and Stick to It
Budgeting is an essential line of defense against unexpected expenses. By tracking your income and comparing it against both predictable and variable expenses, you can calculate how much money can be saved each month.
Regular budget check-ins help ensure you’re staying on track, steadying your financial footing.
Quicken
Personal finance and money management software allows you to manage spending, create monthly budgets, track investments, retirement and more.
I have used this platform for over 20 years now.
Pros:
Birds-eye view of your complete financial picture.
Conveniently download your spending activities, and automatically categorize them (Quicken connects to over 14,000 financial institutions).
Track investments with it’s features like portfolio analytics, retirement goals, and market comparison.
Cons:
Little complex to use at first, the learning curve is moderate.
Yearly subscription-based model to use the platform.
Save 40% on New Memberships
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Tip #6 – Regular Review of Financial Plans
Regularly reviewing and updating your financial plans can serve as a preventative measure against unexpected expenses. Consider changes in income, expenses, and lifestyles, and adjust your savings and spending plans accordingly.
Tip #7 – Utilizing Digital Banking Features for Money Management
Digital banking tools have revolutionized financial management and can be part of a robust strategy to avoid unexpected expenses.
Features such as instant account balance checking, transaction alerts, set-and-forget savings transfers, budgeting tools, and proactive spending categorization help you grasp where your money is and how it’s being spent.
Tools to Ward Off Unexpected Expenses and Not Go into Debt
Unexpected expenses are inevitable, yet going into debt to cover these costs can lead to financial strain due to accumulated interest and fees.
Here are crucial steps in preventing unexpected expenses from turning into debt.
Dealing smartly with Credit Cards options
Credit cards can serve as a lifeline during a financial crunch but should be employed judiciously.
To smartly deal with unexpected expenses, consider options like 0% or low-interest credit card offers – these are particularly useful if you can pay off the balance during the introductory period. But tread with caution: high-interest rates can cause difficulties if you can’t pay off the balance in time.
Profit from Asking for a Paycheck Advance
In times when emergency expenses arise, asking for a paycheck advance can help. Some employers offer this as part of their policy to assist employees dealing with abrupt financial needs. A salary advance allows you to ‘borrow’ from your future earnings and repay the amount through future pay deductions.
Budgeting apps like Chime not only help in tracking expenses, but they also enable early access to your paycheck, up to two days before payday. This feature ensures you avoid running short of money at the end of the week or month, allotting you ample room to plan, track, and adjust your spending and savings.
Chime
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Exploring Personal Loans for Emergency Situations
Personal loans are a convenient option during urgent monetary needs. They are unsecured loans and therefore don’t require collateral.
However, they’re typically accompanied by relatively high-interest rates. Consider using online prequalification tools for personal loans to determine if you’re eligible and view potential interest rates.
Explore different lenders, but be wary of the terms and conditions to make sure you don’t invite more financial trouble.
Which of the following is true regarding unexpected expenses?
Unexpected expenses are costs that are not anticipated or planned for, such as sudden car repairs or medical emergencies.
To efficiently manage unexpected expenses, it’s recommended to make them a part of the monthly budget. A suggested approach is to analyze past “unexpected expenses”, then estimate their costs and timing, which can provide an estimate of how much should be saved each month.
While basing future expenses on past ones only furnishes savings guidelines, this method can prevent an unexpected expense from turning into a severe financial emergency.
Planning for unexpected expenses by setting aside money from each paycheck can protect individuals from unforeseen financial difficulties.
Understanding what types of unexpected expenses might occur can help in the development of strategies to handle them successfully, reducing the impact of any unpleasant financial surprises.
Yes, all of the statements above are true.
What is not true about unexpected expenses?
Unexpected expenses are entirely out of our control.
Unexpected expenses can be completely avoided.
These unanticipated costs only occur irregularly or infrequently.
You can’t prepare for unexpected expenses.
All of these statements are not true. While the occurrence of these expenses might be unexpected, they’re not entirely unpredictable. Many times, they are the result of poor financial planning or management as they are often unforeseen costs that were not anticipated or included in a budget.
Frequently Asked Questions (FAQ)
It’s advisable to aim for at least 3 to 6 months of living costs for an emergency fund. This acts as a buffer to cover unexpected expenses and offers financial security during unexpected life events like job loss or serious illness.
However, the “right” amount to save varies depending on your personal situation, lifestyle, and financial obligations. Always remember: saving something is better than saving nothing; start small and increase gradually as your income allows.
Financial experts generally advise having an emergency fund equivalent to three to six months of monthly expenses. This guidepost factors in expenses such as food, housing, utilities, transport, healthcare, and other necessities.
However, if you are in a volatile occupation or the sole breadwinner of the family, aiming for a larger fund may be prudent. Whichever your situation, remember it’s not about reaching the benchmark overnight; the key is consistency in saving.
Managing urgent financial liabilities without incurring debt hinges on proactive financial planning.
Building an emergency fund: Start small and deposit to accumulate enough to cover at least three to six months of essential expenses.
Proper budgeting: Maintain a budget, ensuring you live within your means and regularly contribute to savings.
Insurance coverage: Adequate insurance coverage can help circumvent the financial impact of medical emergencies or catastrophic events.
Extra income: Consider a side hustle for additional income to bolster your budget and increase your savings.
Plan Ahead to Avoid Unforeseen Expenses
While unexpected expenses are an inevitable part of life, their financial stress isn’t.
Through effective planning and budgeting, you can cushion their blow, ensuring they don’t throw you into financial turmoil. Around here at Money Bliss, we strive for our readers to have less stress with money.
No matter how well you plan, unexpected costs can still arise from time to time. They can happen quite regularly, which is why it’s crucial to include them in budget planning.
By setting aside a portion of each paycheck in a savings account, you can be better prepared for such costs when they arise.
Remember, every dollar saved is a step towards greater financial stability, helping you to navigate life’s uncertainties with confidence and peace of mind.
Now, make sure you are financially sound.
Source
NOAA.gov. “Costliest U.S. Tropical Cyclones.” https://www.ncei.noaa.gov/access/billions/dcmi.pdf. Accessed December 1, 2023.
Colorado Public Radio. “Most people who lost homes in the Marshall Fire were underinsured, Colorado insurance regulators say.” https://www.cpr.org/2022/05/02/most-people-who-lost-homes-in-the-marshall-fire-were-underinsured-colorado-insurance-regulators-say/. Accessed December 1, 2023.
U.S. Energy Information Association. “U.S. residential electricity bills increased 5% in 2022, after adjusting for inflation.” https://www.eia.gov/todayinenergy/detail.php?id=56660. Accessed December 1, 2023.
BetterPet. “Average emergency vet costs: what to expect.” https://betterpet.com/emergency-vet-costs/. Accessed December 1, 2023.
Mastercard. “Your real-time guide to real-time payments.” https://www.mastercard.com/news/perspectives/2023/real-time-payments-what-is-rtp-and-why-do-we-need-instant-payments/. Accessed December 1, 2023.
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Indiana, known as the Hoosier State, has been highly recognized for its low-cost living, especially for renters. According to our data, several cities in Indiana offer affordable living conditions while offering a bounty of recreational and cultural activities. The cities of Bedford, Richmond, Marion, Terre Haute, and Logansport particularly stand out as the cheapest places to live for renters. Each of these cities has its unique charm, community spirit, and cost-effective living options that make them attractive for both individuals and families.
Bedford, IN
Located in Lawrence County, Bedford, IN, with a population of 13,246, offers not only an affordable median rent of $500, but also a pleasant living environment. The median income in Bedford is $42,893, with a reasonable median home value of $107,200. The city is known for its limestone quarries, and the close-knit community often gathers at the popular Wilson Park or enjoys outdoor activities at the nearby Hoosier National Forest. The city’s score of 93.6716 is a testament to its affordability and quality of life.
Richmond, IN
With a population of 35,467, Richmond, IN offers a perfect blend of affordability and attractive amenities. The city has a median income of $40,871, and the median home value stands at $86,300, making it an affordable place to live in Indiana. Renters can find a 2-bedroom place for an ask rent of $740. Richmond is known for its historic architecture, beautiful parks like the Glen Miller Park, and the Whitewater Gorge Trail. The city’s overall score is 86.4834.
Marion, IN
Marion, IN, home to 27,730 residents, is another affordable city in the Hoosier State. With a median income of $35,252 and a median home value of $69,800, Marion offers a low-cost yet comfortable living. The city’s 2-bed asking rent stands at $757, making it an attractive option for renters. Marion is famous for hosting the largest WWII reenactment in the US and features a variety of activities at the Matter Park. The city’s score is 85.6289.
Terre Haute, IN
Terre Haute, IN, with a population of 60,690, is a city that combines affordability and a vibrant lifestyle. The median income is $37,299, and the median home value is $83,800. Rent prices are also affordable, with a 2-bedroom unit’s asking rent at $785. Terre Haute is home to Indiana State University and boasts numerous attractions like the Terre Haute Children’s Museum and the Deming Park. The city’s score is 82.2566.
Logansport, IN
Home to 17,968 people, Logansport, IN offers an affordable lifestyle with a median income of $38,053 and a median home value of $66,800. The city’s 2-bedroom ask rent is slightly higher at $895, but still well within reach for many. Logansport is known for its historic downtown area and the beautiful Riverside Park. Outdoor enthusiasts enjoy the France Park and its scenic waterfall. The city’s overall livability score is 81.1075.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
Austin is an ever-growing, popular city that attracts renters from all over the country. These are the best apartments in Austin offering renters a place to suit their needs — whether you are looking for access to nature, city suites or anything in between.
Check out the best apartments in Austin from our handy list below.
Photo source: Agave Falls Apartments / Rent.
Quaint exteriors and colorful interiors typify the Agave Falls Apartments. The one- and two-bedroom units have an optional decorative backsplash and under-market rents in East Austin. The community has two pools, high-speed internet access and a playground. Oh, and of course, there is a pet park, too.
Agave Falls even helps residents with their finances thanks to their innovative credit-building program.
Photo source: Oak Crest / Rent.
Oak Crest offers a unique alternative to classic apartment living. The three- and four-bedroom detached units each have their own yards, no shared walls and private decks and patios.
The community includes luxurious landscaping, extra storage and a washer and dryer in every unit. Pets and children can play thanks to the yard space, playground and swimming pool.
Photo source: Creekside on Parmer Lane / Rent.
Creekside on Parmer Lane has one-, two- and three-bedroom units in far Northeast Austin. The brand new, resort-inspired community has electric vehicle charging stations, curtained cabanas, USB port wall outlets and washers and dryers in every unit.
Additionally, amenities include kitchen islands/bars, a fire pit conversation area, a climate-controlled pet spa and quartz countertops.
Photo source: Avanti Hills / Rent.
In the gorgeous and hilly Bee Cave community, Avanti Hills has one- and two-bedroom floorplans stacked with amenities. Like most Austin complexes, the apartment includes two pools, a Zen garden, a billiards table and business and conference centers.
With each unit, residents benefit from a private parking garage, ceiling fans in each room, island kitchens and granite countertops.
Photo source: Bridge at Asher / Rent.
The Bridge at Asher has one-, two- and three-bedroom units with vaulted ceilings, fireplaces, oversized closets and garden tubs. Units include a carport and access to a pet park, fitness center, business center and swimming pool.
Residents can also take in hill country views from their large patios or balconies.
Photo source: The Catherine/Rent.
Located in the heart of Austin with spectacular city views, the Catherine has one-, two- and three-bedroom units. The luxury apartments offer a wide variety of floor plans with vaulted ceilings, oversized closets, extra-large balconies and hardwood floors.
Residents benefit from controlled building access, a large fitness center and full concierge service.
Photo source: The Park at Wells Branch / Rent.
Stay connected in multiple ways with The Park at Wells Branch’s fiber internet and public transportation access. This green community also has a pet park, hiking, biking and jogging trails and picnic areas with grills.
Inside the one- and two-bedroom units, residents will find spacious closets, hardwood floors and a fireplace. Other amenities include basketball courts, a media center, a hot tub, a fitness center and a swimming pool.
Photo source: Eagles Landing / Rent.
Spacious one-, two- and three-bedroom floor plans leave room for the whole family at Eagles Landing. This income-restricted community also offers a free after-school program and free summer camp.
Eagles Landing accepts vouchers and provides special cable rates and packages. They offer all of this on top of under-market rent prices.
Photo source: 620 Canyon Creek / Rent.
Families with children will love 620 Canyon Creek thanks to the excellent surrounding schools in Leander Independent School District and the easy access to Lake Travis. Canyon Creek is a green community with a recreation center, fitness center, swimming pool, hot tub and tennis courts.
The one-, two-, three- and four-bedroom units also have several luxury upgrades available, including customized mantels, direct access garages, Italian marble entryways, wood-burning fireplaces and jetted Roman tubs.
Photo source: Axis West Campus / Rent.
Less than a mile from the University of Texas’s most popular hangout, The Drag, Axis West Campus provides one-, two-, three- and four-bedroom apartments at an affordable price.
Residents have access to tanning beds, a media and gaming area, a Starbucks machine and an outdoor fire pit and entertaining area. The community also provides independent living units and disability accessibility too.
Photo source: Anthem at Ledge Stone / Rent.
Conveniently situated with access to the city but also in spacious Central Texas hill country, Anthem at Ledge Stone offers rustic style meets luxury living. This community has electric vehicle charging stations, a pet spa, a resort pool with private cabanas, a fire pit and social grills.
Inside the one-, two- and three-bedroom units, residents enjoy renovated interiors, island kitchens, stainless steel appliances, dimmable pendant lighting and vaulted ceilings in select units. All in all, it’s got everything you could need.
Photo source: West Gate Ridge Apartments / Rent.
Classically appealing with well-below average rent, West Gate Ridge provides standard amenities in Southwest Austin. The pet-friendly one- and two-bedroom units include disability access and spacious interiors.
All units have a private balcony or patio and washer/dryer connections. Residents also enjoy a playground, fitness center, swimming pool and business center.
Photo source: Collective on Riverside / Rent.
The Collective on Riverside is an excellent option for students. These one-, two-, three- and four-bedroom apartments have fully furnished options.
Students can also easily commute to school using public transportation or the university shuttle service that stops on-site. When not studying or working, Collective residents enjoy access to a variety of athletic facilities and bocce, shuffleboard and billiards.
Photo source: Southpark Crossing / Facebook
Live in style at Southpark Crossing. The one- and two-bedroom apartments feature nine- to 11-foot ceilings, crown molding, island kitchens and granite counters in the kitchen and bathrooms. Residents also benefit from extra storage in full-size pantries, oversized closets and balcony storage.
Enjoy the additional uncommon apartment luxuries of Nest Wi-Fi thermostats and an on-site movie theater with reclining seats.
Photo source: River Ranch / Rent.
Growing families will fit right in at River Ranch in Northeast Austin. The apartments also boast a community playground and splash pad. Fur babies can enjoy the dog park while parents will appreciate the fitness center.
Entertaining friends is also a breeze with the spacious clubhouse and community center that includes a fully-equipped kitchen.
Photo source: Bridge at Cameron / Rent.
The Bridge at Cameron is a brand-new community in Northeast Austin.
These one-, two- and three-bedroom, income-restricted apartments include programmable thermostats and extra storage. The smoke-free, green community also has an on-site technology center.
Residents can also enjoy the community room with a patio area, carpeted bedrooms and laundry facility.
Photo source: Hills at Leander / Rent.
The Hills at Leander offers private, quiet, comfortable living for seniors in Austin’s Cedar Park neighborhood. These income-restricted units enable independent living for seniors, including disability access, game rooms and group exercise.
Residents can also welcome visits from family and friends thanks to guest parking and an on-site picnic area with barbecues.
Photo source: Estates at Austin / Rent.
The Estates at Austin in Pleasant Valley is perfect for University of Texas students with five-, 10- and 12-month leases at half of the average city rent. This community also has a covered UT shuttle station that provides service directly to the university.
The one-, two-, three- and four-bedroom, disability-accessible units also include high-speed internet with included HBO. Students can work and play thanks to the 24-hour private study nooks and computer lab alongside basketball, tennis and sand volleyball courts.
Photo source: Scofield Park / Rent.
Offering luxury, affordable apartments in far North Austin, Scofield Park has all the amenities to keep residents connected and entertained. Residents can enjoy an internet cafe with a media center, an entertainment lounge and two 24-hour fitness centers. Even pups can stay busy with two on-site bark parks with agility courses.
This complex with one-, two- and three-bedroom apartments is also just minutes away from the Domain, a popular shopping center and local hot spot.
Photo source: Menchaca Commons/ Rent.
Spacious and affordable, Menchaca Commons has outdoor patios and a grilling area. Renters will also save money thanks to the energy-efficient appliances and LED lighting in every unit.
This green community also has Amazon package lockers and hardwood flooring on top of renovated interiors and ceiling fans in every room.
Photo source: Tintara at Canyon Creek / Rent.
Just minutes away from Lake Travis, Tintara at Canyon Creek has one-, two- and three-bedroom units. On top of affordable rent, Tintara offers hardwood floors, island kitchens and vaulted ceilings.
Renters also benefit from a private gated entry and the option to utilize a business conference center and boutique office space.
Photo source: Monterey Ranch / Rent.
Athletes of all types will feel at home in Monterey Ranch. In addition to a well-equipped fitness center and rec room, these apartments have a range of sports facilities, including a soccer field, basketball court, tennis courts, biking, hiking and running trails and five pools.
A selection of the studio, one-, two- and three-bedroom floorplans at Monterey Ranch are also ADA accessible.
Photo source: The Mansions at Onion Creek / Rent.
Enjoy all that South Austin has to offer from the Mansions at Onion Creek. These one-, two-, three- and four-bedroom units live up to their name, ranging from just over 700 to nearly 2,000 square feet.
Last but not least, the Mansions has an Olympic-sized infinity pool
Photo source: Barton Creek Villas / Rent.
Tucked into the hilly idyll of Barton Creek in West Austin, Barton Creek Villas has fantastic views thanks to its spacious open floor plans and oversized windows.
Outdoor enthusiasts will appreciate its bike and hiking trails while their pet companions will enjoy the on-site bark park with an agility course.
The community offers luxury one-, two- and three-bedroom units, plus a clubhouse with a coffee bar.
Photo source: Pioneer Hill / Rent.
Perfect for professionals that may work at the nearby companies in Northeast Austin, Pioneer Hill offers great prices and amenities for one-, two- and three-bedroom units — no wonder it’s one of the best apartments in Austin. Every apartment comes with a yard or a balcony and stylish modern interiors.
Residents also enjoy the option of full-size washer-dryer connections, extra storage and a community clubhouse.
The best apartments in Austin
Wherever you choose to live, Austin offers apartments that suit any lifestyle. Find apartments for rent in Austin today.
We looked at all available multifamily rental property inventory from January to June 2021 on Rent. to determine which properties with an Austin mailing address are most viewed by organic internet searches. The information included in this article is used for illustrative purposes only. The data contained herein does not constitute financial advice, availability or a pricing guarantee for any apartment.
Oregon, located on the Pacific coast, is a state that offers a variety of lifestyles. From bustling cities to quiet, scenic rural areas, this state has something for everyone. However, Oregon’s rents can be quite disparate, with some areas being quite affordable and others much less so. For renters seeking economical living options, our research indicates that five cities in Oregon stand out for their affordability. These cities are La Grande, Klamath Falls, Dallas, Forest Grove, and Lebanon. Each of these locations offers a unique set of attractions and advantages for residents beyond just affordable rent.
La Grande, OR
With a population of 13,380, La Grande is a small city that provides a friendly, close-knit community atmosphere. The median income here is $45,573 and the median home value is $183,600. The average asking rent for a 2-bedroom apartment is quite affordable at $945. One of the main attractions of La Grande is its beautiful location in the Blue Mountains, providing abundant opportunities for outdoor activities. It’s situated along I-84, offering easy access to other parts of the state and beyond. The city also boasts a historic downtown with a variety of shops and restaurants.
Klamath Falls, OR
Klamath Falls is a charming city with a population of 21,509, and it offers residents the best of both city and country living. The median income in the city is $40,783, with a median home value of $180,900. The rent for a 2-bedroom apartment is only $1,100 on average. The city offers multiple recreational activities given its location near Klamath Lake and Crater Lake National Park. The downtown area is a hub for local businesses, events, and the Oregon Institute of Technology.
Dallas, OR
Dallas, home to 16,612 residents, is an affordable city that scores high on livability. With a median income of $58,398 and a median home value of $253,400, the city offers economic advantages. The average asking rent for a 2-bedroom apartment is $1,360. Located in the heart of Willamette Valley, Dallas residents enjoy a variety of outdoor activities while being only a short drive from Salem, the state capital. The city features a historic courthouse, an aquatic center, and the beautiful Central Bark Dog Park.
Forest Grove, OR
Forest Grove, with a population of 24,847, is a city that combines affordability with a range of amenities. It has a median income of $69,513 and a median home value of $346,400. The rent for a 2-bedroom apartment is an average of $1,340. Forest Grove is home to Pacific University and offers a rich, educational atmosphere. It is located near the Tualatin Valley, which is known for its wineries. Residents also enjoy the city’s numerous parks and its proximity to Portland.
Lebanon, OR
Lebanon, a city of 17,144 residents, offers a cost-effective and comfortable lifestyle. It has a median income of $45,215 and a median home value of $193,200. Despite the affordable 2-bedroom apartment rent of $1,505, Lebanon offers many attractions. The city has an abundance of parks and outdoor recreational facilities, including Waterloo County Park. Additionally, it’s located along Highway 20, allowing for easy navigation to and from the city. The city is also home to Western University of Health Sciences, contributing to a vibrant and intellectual community.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
Maine, known for its picturesque landscapes and serene environment, is quickly becoming a hot spot for renters due to its affordability. As the Pine Tree State flourishes with opportunities, it provides affordable living for individuals from all walks of life. Rental prices vary greatly across the state, yet Maine sustains an appealing cost of living for many. Particularly, three cities have marked their places as the cheapest for renters; South Portland, Portland, and Yarmouth. These cities not only offer affordable rent but also present a high quality of living with their unique characteristics.
South Portland, ME
With a population of 25,665, South Portland is not just an affordable city but also a great place to live. The city offers a median income of $67,198 and a median home value of $276,100. Life in South Portland comes with more than just affordable living, it’s a city that thrives on its local community and stunning coastal views. You’re never far from a stunning view, with the city’s unique location on the coast of Maine. The city also has plenty of green spaces, including Mill Creek Park and Willard Beach, providing the perfect backdrop for a Maine lifestyle.
Portland, ME
As the most populous city in Maine with 66,706 residents, Portland offers a balance between an affordable cost of living and a vibrant city life. The city has a median income of $61,695, and a median home value of $302,700. Of note to renters, the asking price for a 2-bedroom is around $4,412. Portland’s Old Port district, with its cobblestone streets, 19th-century brick buildings, and fishing piers, is a hub of activity. Plus, there are numerous recreational areas in the city, including East End Beach and the Eastern Promenade.
Yarmouth, ME
Although smaller with a population of 5,752, Yarmouth is a charming town that offers an affordable lifestyle. Here, the median income stands at $69,576 with a median home value of $347,300. Renters can find a 2-bedroom place for an asking price of around $2,915. Yarmouth’s Main Street is a testament to its historical charm, while Royal River Park provides a great outdoor experience for residents. Yarmouth also hosts the famous annual Clam Festival, which offers a glimpse into the friendly community spirit of the town.
Methodology
The cheapest cities in each state were ranked based on its median home price and median asking rents for studio, one-, two-, and three-bedroom units. Prior to ranking, inputs were normalized, and weights were applied using a 1.25:1 ratio of asking rents to home prices. Data on home prices are from the U.S. Census 2016-2020 American Community Survey 5-year estimates. Data on asking rents are from Rent. Cities without data for one- or two-bedroom asking rents or a population of less than 10,000 were removed from this ranking. Any other missing values were zeroed and did not impact the final score.
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Lily Rose
Lily Rose is a senior writer for CBS Essentials and the site’s expert in home appliances such as washers, dryers, refrigerators and ranges. When she’s not writing about how you can upgrade your laundry room, she’s writing about home and kitchen essentials that will transform your space. Her favorite appliance is her air fryer. She firmly believes that it can make the crispiest sweet potato fries.
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