Posh Apartments and Fancy Cars

My first goal after graduation was to get an apartment, move into a big city, and live in an area with all the action. I definitely accomplished that goal without giving much thought to it.

Here's what I did: A few months before graduation, I leased an apartment. I signed a 1 year lease for a downtown $1300/mo 1 bedroom apartment. Exciting, right? For a while.

Here's what happened: A few months later, I lost my job. A stable job - or at least I thought. Luckily, I found another job (using the techniques in this post) immediately.

The problem? This job was near my parents' house. So, I moved back home. Unfortunately, with the current situation, I couldn't (and still can't) find anyone to lease my Chicago apartment.

Now - I'm living at home. Paying rent on an apartment in Chicago. And watching my hard earned money go out the window.

Here's what you should do:
- Search for apartments on Craigslist. The lessors are dropping prices - A LOT. Call them and tell them that you love the apartment and want to rent it but because of the economy you can't afford the rent. Negotiate! Guaranteed they'll want someone to take the apartment so they'll drop the rent.

Sample script:

"Hi. I saw your posting for an apartment on Craigslist. This is the apartment I've been looking for. How much is the rent?"
"That's great! The rent is $1300/mo"
"Oh. That's a bit much for me right now. I know you must want someone to lease it as soon as possible, but I can't afford that at the moment. I could pay $1150/mo"
"Let's say $1200? Does that work for you?"
"That sounds great"

**Never leave the answer open ended. "Could I pay $1150?" -- This gives them the chance to shut you down completely. Simply state your price and then negotiate it from there.

Remember, the key is to spend on things you can't live without and save on other items. If you've always wanted a posh apartment on 5th Ave - fine, indulge. Just cut back somewhere else.