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 is currently living in a rural area in Ohio and he always is shocked when he hears about the amount of money that are needed by people to pay their rents.
The average of $550 per month of mortgage payment and rent in some hometown is 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.
If you do not have the right amount of money to handle the monthly rent for your housing, then below are ways on how you can solve your problem.
Ways to lower your costs for housing
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 consider doing a screening on a potential roommate, and the best place to find one is with your family and friends. You will be sharing your living space with this particular person after all.
2. Reduce the 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 should consider looking for a place that is much smaller than the one that you currently have or even better, you can find a smaller place in an area that is low-cost. If it is possible, you might want to let your kids share a bedroom.
3. Transfer to the country or suburb
There is a very big difference in the cost of living between the suburb and a big 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. 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.