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.
This article is written by a person living in rural Ohio, and he always is shocked every time he will know how much money is needed by a person in order to pay for his or her rent.
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.
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
A lot of people would consider having a roommate as one of the easiest method to save money on the rent for housing without having to do some big sacrifices.
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.
The best place to find a roommate is with your friends and family, and always make sure to consider screening any possible roommate. You will be sharing your living space with this particular person after all.
2. Reduce 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 might also want to consider to have your kids share rooms if that would be possible.
3. Transfer to the country or suburb
The cost of living in the suburb is way cheaper as compared to the cost of living in the city. If you are one of those people that are renting a place to live, then you can save a lot of money if you will move farther away from the city. You should take note that this is not a permanent solution, you should consider this as something that is temporary until you will be financially stable.