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.
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.
The average of $550 per month of mortgage payment and rent in some hometown is considered not that high. A thousand dollar per month on rent would get a person a small mansion.
The idea of paying one thousand dollars or more in a monthly rent will place a lot of people in a critical point regarding their money, and this will also prevent them from handling their personal finances the right way.
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 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.
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 of the fact that you will be sharing your living space with that particular person.
2. Lower down 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 might consider looking for a much smaller place than the one that you currently have, or even better, you can find a small living quarter 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 renting some space to live in, 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.