Everyone is looking for ways to cut their costs in one way or another. Sometimes money gets tight, and cutting corners is an inevitable necessity. There are a lot of ways to lower your monthly costs! A lot of people automatically try to figure out ways to save on their monthly utilities and lowering the overall cost of their bills. But there are probably a few ways you haven’t considered saving money.

You’re probably wasting your living space

How much of your apartment do you actually use for storage space? Do you have a second bedroom that’s filled with storage containers and boxes you never got around to unpacking? A lot of people have every nook and cranny of their homes filled with things they never actually need. This is a common problem with people who rent, specifically with those that rent apartments. You don’t have sheds, basements, attics, or garages to help you put away those things you don’t need access to very often. Just imagine all that you could do if you could free up that space!

Alternative storage solutions

One way you could save a lot of money is if you moved all of those things taking up space in your apartment to a storage unit, and then downgrading to a slightly smaller apartment. The fact is just that square footage in an apartment costs a lot more than square footage in a storage unit.

Rent vs Storage comparison

Let’s compare the average cost per square foot for storage space and apartment space.

In Boston, the average square foot of apartment space costs $3.93. A storage unit is $1.70 per square foot. In a year, that’s $2,676 you would save if you downsized 100 square feet and rented out a storage unit instead! Imagine all the things you could do with an extra $2,676 a month.

On average in Salt Lake City, the cost per square foot for a one bedroom apartment is $1.10. The average storage unit in Salt Lake City costs $0.80 per square foot. 30 cents may not seem like a lot, but that’s per square foot! If you downgrade your apartment by 100 square feet and opt for a much smaller storage space, you’ll see savings upwards of $500 a year.