Some people that were in a recent money discussion pointed out that the half amount of the monthly income of one person is the price of their rent.
The writer of this article lives in rural Ohio and ever time he will hear about the amount of money that is needed by people in order to pay their rents, he is always shocked.
In some places, the average of $550 per month on rent as well as payment for mortgage are considered not that high. From a monthly rent of one thousand dollars, a person could get a small mansion.
There are a lot of people that are placed in a critical point when it comes to money especially if they are needed to pay one thousand dollars of monthly rent, this will make them avoid handling their personal finances properly.
This article will provide five methods on how you can bring down the your finance problem if you are one of those people that could not handle the cost of rent for their houses.
Ways to lower your costs for housing
1. Look for a roommate
One of the simplest way to save money considered by a lot of people on the rent for housing without have to do any big sacrifices is to look for a roommate.
Even if having a roommate is really not convenient, it is still a viable option especially if you really love the place where you are currently living in. This is in fact true especially if you have bought a home and do not have the opportunity to move to a less expensive place like some renters do.
It is important that you should always consider doing a screening on a potential roommate, and the best place to find one is with your family and friends. That is because you will be sharing your place with that person.
2. Reduce the need for space
Barry Weir, the writer of this article, was forced to do this after he got divorced and it worked really perfect for him.
You might consider looking for a much smaller place than the one that you currently have, or even better, you can find a small living quarter in a less expensive area. If it is possible, you might want to let your kids share a bedroom.
3. Move to the country or suburbs
The cost of living in the suburb is way cheaper as compared to the cost of living in the city. You will be able to save a lot of money if you will move away from the city if you are one of those who are renting some space. And you should not forget that this would not need to be a permanent solution, it would just be temporary until you will be financially stable.