I am hardly able to pay my rent 4 aptartment,car payment,insurance,utility bills etc. still thinking how ican buy my own living place instead of wasting my hard earned money,by paying rent (actully trashing my money)(what should & how i can do)
2006-11-03 14:54:09 · 4 answers · asked by pjmintoo 1 in Business & Finance ➔ Personal Finance
The best thing to do is live down a bit, rent a room in a common apartment with a few friends instead of one by yourself. Take the transit instead of driving to work and reduce personal expenses.
Other than getting a roommate or two. you can also move to a different town or city if you are single and have no other attachments .
2006-11-03 15:08:02 · answer #1 · answered by QuiteNewHere 7 · 0⤊ 0⤋
Definition- ASSET= makes $. LIABILITY= spends $. Home owning implies MORTGAGE= liability.If ur strugln now hows a mortgage gonna help? Buyn ur own home while ur strugln maynot afford u a property in an area where its value wil rise. If a property rises in value 2 say an extra $10,000 in 20 years & u took the same amount of $ spent on the mortgage and invested it in a fixed term deposit offern 6-8% return ova the same time period wot would the result be? The point is- ur strugln now so curb ur liability spendn & look 2 buy assets that can make ur $ work 4 u instead of u workn 4 it. Figure out how much u need 2 b earn'n per hour 2 give u 1 day off from work then x it by 7. Stockmrt, foreign exchange & investment properties (provided they r positivly geared) can afford u ur financial freedom, trading 1 set of bills 4 another doesnt sound right 2 me.
2006-11-03 16:45:21 · answer #2 · answered by MJR 5 · 0⤊ 0⤋
The first thing you need to do is check your credit to see where you stand with your credit rating. Then you need to find a mortgage broker to see how much money you qualify for to get a house. They will then let you know if you have anything on your credit report to fix. If you do then you need to fix you credit but if not they will then tell you to go with a realtor to look for a house. You are right to want to stop renting because that costs you alot of money and it is going right down the drain because you can't claim any of it on taxes.
2006-11-03 15:00:03 · answer #3 · answered by Medical and Business Information 5 · 0⤊ 0⤋
Go for a housing loans, so many banks offer it, and is almost as much as the rent u pay each month.
2006-11-04 01:51:40 · answer #4 · answered by maynze2000 3 · 0⤊ 0⤋