"Live within your means": a loaded phrase that seems to be biased in the favor of those more well-off? (sell, invest)
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so you really do have an advantage; we're both paying about the same for housing, but you're getting an entire house with land, plus you're enjoying principal reduction and appreciation...while I'm getting a basement room in an overcrowded house (plus fights and drunken rages) for my $6k.
Advantage? Were we both born in this situation?
I don't get an "entire house"... where do you think my wife lives? I'd spend less if I wasn't married, you can be sure of that. I'd own a hovel out in the boonies that I built myself, and it would have been paid for a long time ago. I'd easily live on <$10k/yr.
Your bad living situation is your choice. Change it.
I don't get an "entire house"... where do you think my wife lives? I'd spend less if I wasn't married, you can be sure of that. I'd own a hovel out in the boonies that I built myself, and it would have been paid for a long time ago. I'd easily live on <$10k/yr.
Your bad living situation is your choice. Change it.
Some areas are much easier to do this in than others. For many, the avenue for this would involve changing jobs to one located in low-cost areas such as the one you are in. (Commuting is not a solution, because car expenses will get pricey REEEAAAL fast! The first 10 miles are the most expensive, but the next 10 are also a drain on the wallet. Don't include just gas, there's also maintenance, repair, and depreciation which go up with mileage.)
[quote=rruff;38551768]Advantage? Were we both born in this situation?
I don't get an "entire house"... where do you think my wife lives? I'd spend less if I wasn't married, you can be sure of that. I'd own a hovel out in the boonies that I built myself, and it would have been paid for a long time ago. I'd easily live on <$10k/yr.
Your bad living situation is your choice. Change it.[/quote]
Not a unilateral choice. Very very difficult rental market these days; many people would say I should be grateful just to have this roof over my head.
Some areas are much easier to do this in than others. For many, the avenue for this would involve changing jobs to one located in low-cost areas such as the one you are in. (Commuting is not a solution, because car expenses will get pricey REEEAAAL fast! The first 10 miles are the most expensive, but the next 10 are also a drain on the wallet. Don't include just gas, there's also maintenance, repair, and depreciation which go up with mileage.)
This has been studied, for most workers it is better financially to spend more on housing in order to live closer to your job - housing costs do not fall with distance from job sufficiently to offset the higher commuting costs.
Some areas are much easier to do this in than others. For many, the avenue for this would involve changing jobs to one located in low-cost areas such as the one you are in. (Commuting is not a solution, because car expenses will get pricey REEEAAAL fast! The first 10 miles are the most expensive, but the next 10 are also a drain on the wallet. Don't include just gas, there's also maintenance, repair, and depreciation which go up with mileage.)
I'm not even in a low cost area! The price of houses here is above the national median.
Yes commuting is often stupid. So don't do it! There are plenty of places in the country where you can easily rent or buy within walking distance of where you work. Better yet, work at home like I do. If you are in a high priced city then move for gawds sake! Make a change. This isn't rocket science. The only good reason to live in an expensive area is if you can make good money there.
Not a unilateral choice. Very very difficult rental market these days; many people would say I should be grateful just to have this roof over my head.
Move... somewhere... else...
Plenty of places in this country where you could rent your own nice place for $500/mo and if you aren't a freak you'll be able to get a job that pays >$1200/mo no problem.
It means don't spend money you don't have, don't spend more than you make. A hard thing to follow, and something that many of us don't do. Myself included. I have a huge pile of credit card debt and a pile of student loans, so I know something about living beyond my means. The results can be a disaster.
I don't think it's about favoring rich people. If you don't have it, don't spend it. Don't open a million credit cards and run them up. Don't go deep into debt for a college degree that society deems useless. I wish someone had told me that.
And what is this owner going to do when the roof needs to be replaced?
You get up there and replace it. Roofing is cheap. When you can't afford to hire work done, you do it yourself. It's called sweat equity.
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