Some of the online users that were in a recent money forum online pointed out that the price of their rent is half the monthly income of one person.
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 hometown, an average rent of $550 per month as well as mortgage payments are 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.
Methods on how to lower housing costs.
1. Getting 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 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 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 make sure that you screen the possible roommates, the best place to find one is with the family and friends that you have. That is because you will be sharing your place with that person.
2. Reduce the need for space
The writer of this article, Barry Weir, was forced to do this after he got divorced and it gave him no problem at all.
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. 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. 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. Always take note that this will not be considered as a permanent solution, you will be doing this until you will be stability in your personal finance.