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 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 thousand dollar per month on rent would get a person 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.
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.
Methods on how to lower housing costs.
1. Look for 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. That is because of the fact that you will be sharing your living space with that particular person.
2. Reduce the need for 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. 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. 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. 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.