QUESTION OF THE DAY: What percent of 18-29 year olds are currently living with their parents?

ARTICLE: How to Decide Where to Live

One of the first steps that you make when setting up a budget to rent or own a home is to figure out where to live.  There are many factors that go into making this decision beyond the cost.  Skim the article about the things you should consider before moving to a new place. Then, answer the questions on your worksheet.

ARTICLE: What Fees Do I Have to Pay Before Signing the Lease?          

If you’re considering renting an apartment you will usually have to sign a lease agreement, which is a contract outlining the terms of your rental. This can include things like rent amount, apartment policies, and move-out procedures.  When you show up to sign your lease, you may be surprised when you’re asked for more than just the first month’s rent. Read the article detailing common fees associated with signing an apartment lease agreement.  Then, answer the questions on your worksheet.

EDPUZZLE: Should You Buy a House?

For various reasons, you may want to own a home instead of renting an apartment.  Is this the right financial decision given your current budget?  Is it the best lifestyle decision for you? Watch this video and answer the questions within the EdPuzzle itself.

ARTICLE: Here’s How to Estimate Your Utility Costs

Another often overlooked home budget expense comes in the form of utilities: electricity, cable, gas, water, and garbage/recycling.  While the use of these items can vary month to month, it’s important to have a good ballpark estimate of how much you might owe each month on these items.  Read the article about budgeting for utilities.  Then, answer the questions on your worksheet.

LEARNING TARGETS:

• I can prioritize many factors when deciding where to live.
• I can list important considerations before signing a lease.
• I can determine whether they are prepared to purchase a home.
• I can factor in how utilities will affect their budget.
• I can create a roommate agreement to share the costs associated with living together.