Do you need help paying rent? Many find themselves suffering through this obligation on a daily basis. For many, this obligation is the largest bill that they are responsible for and is also the most important. Often times we are quick to seek out a loan, but there are other options you can consider before resorting to a loan. Discover your options below to consider before getting a loan to pay rent.
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Want A Roommate?
Do you have a spare room that you could rent out? Would you mind living with another person? If you have extra space, consider having a friend, co-worker, or family member live with you and avoiding getting a loan to pay rent. Having a roommate alleviates half of the financial responsibility, as you both will be equally responsible for the rent and utilities. Your utilities would include electric, water, gas, groceries, internet, and cable. Having half of your bills eliminated will promote financial relief for you and make the rent payment less of a burden. You may even be able to store little savings that can help with future rent payments should you find yourself struggling to make a payment.
If you have room for an additional roommate, you could even cut these costs by a third, only benefiting your financial situation. For three bedroom homes or apartments, this is a great option because the rent on these dwellings are much more significant than one or two bedroom options. Make this decision after you have had one roommate and are comfortable with the arrangements.
Cut Utility Costs
If you are not interested in having a roommate but you do not want a loan to pay rent, you have another option. Review your utility costs and look for ways to accommodate the budget. Below are some ways to cut the costs of your utilities.
- Eliminate Unnecessary costs
- Adjust Temperature In Your Home
- LED Bulbs
Eliminate Unnecessary Costs
Determine what utilities you actually need. If you have a streaming subscription in addition to cable, you should consider choosing one and eliminating the other. Usually, streaming services have a lower monthly obligation than cable. You can still enjoy television and eliminate a bill.
Adjust Temperature In Your Home
When the seasons start to change and you find yourself wanting to blast the heat or crank the air conditioner, remember you want to avoid getting a loan to pay rent. Sit your temperature at an automatic setting around 68 degrees in the winter and 74 degrees in the summer. This will keep your HVAC unit from overworking and using only minimal electricity. Minimal electricity is equal to a smaller electric bill.
LED Bulbs
As your light bulbs start to blow and need replacing, get the LED Bulbs for replacement. These bulbs have proven to significantly decrease electric bills across the country. They use a lot less current for power, decreasing the use of electric currents. Some users have claimed their electric bills lose as much as a fourth of the average bill.
Speak To Your Landlord For An Extension
Are you struggling for this month’s rent and really avoiding a loan to pay rent? If so, reach out to your landlord. If you have not had a habit of late rent, your landlord may be open to an extension. If you have been consistently late, your landlord may require an additional late fee for accepting the rent late. They could also decline your request, but you should at least ask before getting a loan to pay rent.
If you find that your rent is coming due at a bad part of the month, ask your landlord to consider changing your due date so that it can better accommodate you. Many are open to making this change as long as you are making the rent payment on time and consistently.
If you are finding yourself having trouble paying rent, it is important to know that you have options other than getting a loan to pay rent. While some circumstances may require that, make sure that you consider all options first.