Financial Math: Renting Your First Apartment

The first thing you should do before searching for your first apartment is (a)   .

• Secure a move-in day
• Make a wish list of furniture
• Budget for upfront costs
• Conceptualize the decor

You need to save for (a)   before renting an apartment.

• Monthly utilities
• Groceries and gas
• Application fees & security deposit
• Internet and cable

What documents should you gather in advance for the apartment application process?

Check all that apply.

• Recent pay stubs and bank statements

• Character references

• Verification of identity, employment, and financial stability

• Photo ID

What is a co-signer and why might you need one?

• Someone who guarantees the loan for your apartment

• Someone who helps you move in

• Someone who writes character references for you

• Someone who pays your rent

If you don't understand something in the lease, you should (a)   .

• Sign it anyway
• Discuss with your property manager
• Assume you'll win every discussion
• Ignore it

The location of your apartment is important because (a)   .

• it determines the cost of rent
• it affects your commute to work
• it determines the size of the place
• it affects the amenities available

What should you consider when deciding whether to have a roommate?

Check all that apply.

• Are your lifestyle compatible? (allergies, smoker vs non-smoker, etc.)

• Their financial situation

• Their cleanliness and noise level

• Their employment status

What should you check before renting an apartment if you have a pet?

• If the apartment has in-unit laundry

• If the apartment has an elevator

• If the apartment allows pets and your particular breed

• If the apartment has a workout room

With items you don't need when moving into your first apartment, you should (a)   .

• Donate, throw away, sell, or recycle them
• Store them in your new apartment
• Keep them in your childhood home

What should you consider when shopping for items for your first apartment?

Choose all that apply.

• What you can afford

• What you really need

• What will fit in the space

• None of the following