If you're looking for a room sharing situation (rather than looking for an apartment with a friend), you need to start looking as early as possible. It can sometimes take longer to find an acceptable rental share situation than just to find an apartment.

As with any apartment search, make sure everyone you know knows that you are looking. You never know where perfect lead will come from, but often people are your best source. And people who know you well will probably also recommend things they know you'll like.

Ask questions. If you're looking at apartment share situations, you want to know as much as possible about people you'll be living with, right? Make a list of questions ahead of time, and get them answered.

Answer questions. Be as honest as possible with potential roommates and put your best foot forward.

Don't expect that your new roommate will be your new best friend as well. While two of you may, indeed, become good friends, it isn't a prerequisite for sharing an apartment.

Be prepared to compromise. Sharing an apartment or house with someone else usually requires some adjustment. Chances are you can no longer have your friends over all night every night, watch whatever you want on living room TV, or let dishes sit for weeks.

Once you have completed this, add up total months to pay off your debts to figure an estimate of how long it will take you to pay off all of your debt.

Example:

Visa total balance $6300.00 divided by minimum monthly payment of $153.00 = 41 (months to payoff) 2 (second to payoff)

Auto Loan $13000.00 divided by minimum monthly payment of $356.00 = 36 (months to payoff) 1 (first to payoff)

Mastercard $5266.00 divided by $96.00 = 54 3 (third to payoff)

Mortgage $43,000.00 divided by $325.00 = 132 4 (fourth to payoff)

The auto loan is first to payoff because it has shortest amount of time before it is paid in full. Then your Visa balance and so on.

Net Income = $1500.00 x 5% = $75.00

Taking your first debt to payoff which is auto loan:

minimum payment $356.00 + $75.00 = $431.00 total balance $13000 divided by $431 = 30 (months it will take you to payoff this balance using additional 5%)

Visa: $153.00 + $75.00 + 356.00 (since this loan amount is paid in full) = $584.00 total balance of $6300.00 divided by $584.00 = 11 (months it will take to payoff credit card)

Mastercard: $96.00 + $75.00 + 153.00 + $356.00 = $680.00 total balance $5266.00 divided by $680.00 = 8

Mortgage: $325.00 + $75.00 + 96.00 + 153.00 + 356.00 = $1005.00 total balance $43,000.00 divided by $1005.00 = 43

Add your months together: 30 + 11 + 8 + 43 = 92 approximate months to have all of your debt (including you home) PAID IN FULL! This is about eight years! Can you imagine being debt free in eight years???? That means that your home would be free and clear and you would have 100% equity!

If you apply above formula to your financial situation, you can be debt free without getting a second job or without working extra overtime! Imagine time you can spend with your family and friends instead of working. Of course if you take a higher percentage of your net income, you will pay off your debt faster!

This is something that anyone can do based on simple math. The trick to remember is to NOT use your credit cards. In fact, cut all but one up! Get rid of them and just keep one in case of a major emergency. Start yourself a savings account to begin building up your emergency funds. Eventually set goals for yourself to save for college funds, retirement funds, etc.

Remember this fundamental rule:

PAY FOR CURRENT EXPENSES WITH CURRENT INCOME

Much Luck to You,

Carolyn Shipp http://bucksback2u.com/carolyn/rewards.html