A couple of online users have pointed out during a recent money discussion that their rent is half of the monthly income of one person.
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.
In some places, the average of $550 per month on rent as well as payment for mortgage are considered not that high. A person would get a small mansion from a monthly rent of one thousand dollars.
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. Find 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 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 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. 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 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. You might also want to consider to have your kids share rooms if that would be possible.
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 renting some space to live in, 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.