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.
The average of $550 per month of mortgage payment and rent in some hometown is considered not that high. A person would get a small mansion from a monthly rent of one thousand dollars.
But because of the need to pay one thousand dollars or more on a monthly rent is really tough for most people, that will result to them having to avoid taking charge on their personal finances.
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. Find a roommate
Many people consider getting a roommate as one of the simplest ways to save money on monthly rents without having to make some major sacrifices.
Even if it is not a really convenient choice, it is still very viable if you really love the place where you are living in. This is really true if you have purchased a home and do not get the luxury to move to a much lesser cost 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 of the fact that you will be sharing your living space with that particular person.
2. Lower down the need for space
Barry Weir, which is the writer of this article, did this after he got divorced and it worked perfectly for him.
You can always look for a smaller place than the one that you have or even better, you can find a small living space in a less expensive area. You can have your children share rooms if that would be possible.
3. Move to the country or suburbs
There is a very big difference in the cost of living between the suburb and a big 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.